Global sports technology company Sportradar posted record revenue in the second quarter of the year, totaling €317.79 million ($366.84 million), causing the company to raise its full-year expectations.
In results released on Tuesday, the company indicated that the revenue was a 14 percent yearly increase, with some 15.5 percent of this being profit – €49 million ($56.56 million). This was a strong acceleration from the €24 million ($26.65 million) in profit recorded in the first quarter, which was already at the top-end of its range of expectations. It was also a complete reversal from a €2 million ($2.31 million) loss recorded in 2Q24.
The group’s Betting Technology & Solutions segment continued to bring in the majority of the group’s revenue, at €258.76 million ($298.7 million) – a yearly rise of 12 percent. Of this, Betting & Gaming Content contributed the most, at €199.58 million ($230.4 million), a 10 percent increase, while Managed Betting Services brought in €59.18 million ($68.32 million), up by 21 percent year-on-year.
Looking to the group’s Sports Content, Technology & Services arm, overall revenue was up by 22 percent, to €59.02 million ($68.13 million). Of this, the majority was derived from Marketing & Media Services – at €40.99 million ($47.32 million), up by 16 percent yearly. It’s Sports Performance category saw a 24 percent increase in revenue, to €12.22 million ($14.11 million), while its Integrity Services segment saw a whopping 92 percent increase, to €5.8 million ($6.7 million) in revenue.
While the sports betting sector in the United States has been booming in recent years, the company actually derived most of its revenue from outside the US, with Rest of World contributing some €229.82 million ($265.3 million) in revenue – a rise of 9 percent. But the growth in the US was undeniable, as revenue rose by 30 percent yearly in the quarter, to €87.96 million ($101.54 million).
Speaking of the results, Carsten Koerl, Chief Executive Officer of Sportradar, noted that “Our industry leading scale, including our premium content and product portfolio and leading technology and AI, is driving customer uptake and above market growth. The inherent leverage in our business, combined with our focus on efficiencies, is driving sustainable margin expansion and cash flow generation”.
Business highlights and 2025 expectations
The group continues to expand its offerings across numerous sports leagues and product offerings, noting in particular its ‘strengthened partnership with the German Bundesliga to further entertain the league’s more than one billion global fans’. In addition, the group expanded its soccer offerings to all 63 matches of the FIFA Club World Cup – providing exclusive global betting rights with live data, live odds, and media content.
The company, impressively, has no debt outstanding, despite its total liquidity dropping slightly from €568 million ($655.68 million) in 2Q24 to €532 million ($614.12 million) in 2Q25 (including an undrawn credit facility).
Given its strong financial position, the group has increased its fiscal 2025 outlook to include revenue of at least €1.27 billion ($1.47 billion) – meaning yearly growth of at least 16 percent. The group is also expecting to record an adjusted EBITDA increase of at least 28 percent, to €284 million ($327.84 million).
The forecast does not include any possible impacts from the pending acquisition of IMG ARENA and its global sports betting rights portfolio. Sportradar in March announced that it would be acquiring the company from Endeavour Group, bringing on its 70 rightsholders covering approximately 39,000 official data events and 30,000 streaming events across 14 global sports on six continents. These include Wimbledon, the US Open, Roland-Garros, Major League Soccer, EuroLeague basketball and the PGA Tour. The deal is expected to close in the fourth quarter of 2025, however it’s facing hurdles over monopoly concerns.
