Sportradar reported a quarterly revenue of €278.4m, an increase of 29 per cent over the previous year, and an Adjusted EBITDA of €48.8m, an increase of 22 per cent. However, despite that, the company still reported a loss of €1.5m for the period, compared to a de minimis profit for the same quarter the previous year.
Carsten Koerl, Chief Executive Officer of Sportradar, commented: “Our strong second quarter results, including another quarter of record revenues are a testament to the operating momentum we are generating across our business and the clear execution against our strategies to drive outperformance versus the market.”
“We delivered robust growth across our high-value product portfolio and strong client uptake, while continuing to strengthen our business by driving efficiencies and significant cash flow.”
“I am pleased to once again raise our full year guidance as we continue to build long-term shareholder value through strong topline growth, a focus on delivering additional operating leverage and increasing cash flow generation.”
During the reported period, the company saw 46 new customers sign up for Managed Trading Services (MTS) year-to-date, which will bring total customers to over 200 worldwide, expanding coverage in fast growing sports betting territories including Latin America & Africa.
UEFA and Sportradar extended and expanded their partnership, which covers all UEFA Club and National team competitions, over 900 high-profile matches, a 33 per cent increase from the previous relationship. The agreement also expands its existing, exclusive betting data rights and Integrity partnership to include non-exclusive right to distribute data to non-betting media.
Sportradar also announced the launch of ad:s for audio and an enhanced digital-out-of-home offering, expanding the reach of the company’s leading marketing services to podcasts, streaming services, internet radio and over 600,000 digital outdoor screens across move than 100 countries.
Based on Q2 results, Sportradar has adjusted its outlook for its fiscal year results. The company now predicts revenue for the year will total €1.07bn, up €10m from its previous prediction, up 22% year-on-year. Adjusted EBITDA is predicted to reach €204m, up by €2m from the company’s previous outlook, also up 22%.
Source: GMB
