Sportradar has delivered strong financial results for the second quarter of 2024, achieving record revenue and significant growth across its product portfolio. The company has also raised its full-year 2024 outlook, reflecting confidence in its continued success.
- Sportradar’s revenue reached €278.4 million, marking a 29% increase compared to the same period last year.
- Betting Technology & Solutions generated €229.1 million, up 30% year-over-year, driving overall growth.
- Sports Content, Technology & Services contributed €49.3 million, a 22% increase from the previous year.
- The company saw significant growth in the U.S. market, with revenue rising by 59%.
- Globally, Sportradar’s “Rest of World” segment grew by 22% year-over-year.
- Despite strong revenue growth, the company reported a small loss of €1.5 million for the quarter.
- Adjusted EBITDA increased by 22% year-over-year, reaching €48.8 million.
- Sportradar’s net cash from operating activities rose by 17% year-over-year, totaling €152.6 million.
- The company’s Net Retention Rate improved to 117%, indicating strong customer loyalty and growth.
- Sportradar repurchased 588,000 shares in the quarter, with a total value of $6.2 million.
- The company raised its full-year 2024 outlook, expecting 22% growth in both revenue and Adjusted EBITDA.
