Sportradar Group AG

SRAD

Equity

ISIN CH1134239669 / Valor 113423966

NASDAQ (2024-11-22)

USD 17.73+1.34%

Sportradar Group AG
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About company

Sportradar Group AG is a leading sports technology company that operates at the intersection of the sports, media, and betting industries. The company offers a range of services to enhance the fan experience, including audiovisual streaming of exclusive esports content through strategic partnerships with B2B betting-solutions providers like Oddin.gg. Sportradar's focus on creating immersive experiences for fans has made it a key player in the global sports technology market, catering to betting operator clients worldwide.

Summarized from source with an LLMView SourceSector: Technology

Record Revenue

Sportradar Group AG reported record revenue of €278.4 million for the second quarter of 2024, marking a 29% increase year-over-year. This growth was driven by strong performance across its product portfolio, particularly in Betting Technology & Solutions.

Betting Technology & Solutions

Revenues from Betting Technology & Solutions reached €229.1 million in Q2 2024, up 30% year-over-year. This segment's growth was primarily fueled by increased customer uptake and premium pricing in Streaming & Betting Engagement and Live Data and Odds.

Sports Content, Technology & Services

Sportradar Group AG's Sports Content, Technology & Services segment generated €49.3 million in revenue for the second quarter of 2024, a 22% increase year-over-year. This growth was mainly driven by a 28% rise in Marketing and Media Services revenue, particularly in Europe and North America.

Cash Flow and Liquidity

The company reported net cash generated from operating activities of €152.6 million since the beginning of the year, up 17% year-over-year. As of June 30, 2024, Sportradar Group AG had total liquidity of €542.2 million, benefiting from strong cash flow generation in the first half of the year.

Updated Financial Outlook

Sportradar Group AG has raised its full-year 2024 outlook, now expecting to deliver 22% year-over-year growth in revenue and Adjusted EBITDA. The updated revenue forecast is €1,070 million, and Adjusted EBITDA is projected to be at least €204 million, reflecting a 1-percentage point improvement in the full-year growth rate outlook.

Summarized from source with an LLMView Source

Key figures

77.3%1Y

-11.1%3Y

%5Y

Performance

37.0%1Y

55.3%3Y

55.3%5Y

Volatility