Global sports technology company Sportradar achieved the top-end range of expectations for its 1Q25 results, with profit totaling €24 million ($26.65 million).
The most recent financial results came in high above the €20 million ($23.5 million) unaudited results published in late April. The figure was a strong reversal from the €1 million ($1.11 million) loss seen in the same period of 2024.
Meanwhile, revenue totaled €311.23 million ($345.62 million), up by 17 percent yearly at slightly above the preliminary results estimate.
A large portion of the group’s revenue was derived from its Betting & Gaming Content – totaling €193.8 million ($215.22 million) – up by 13 percent yearly. The group notes this was ‘primarily from customer uptake of additional products and from US market growth.
Meanwhile, Managed Betting Services contributed a 16 percent increase, to €56.21 million ($62.42 million) ‘driven by strong growth in Managed Trading Services from increased turnover and higher trading margins’.
Overall revenue for the Betting Technology Solutions segment, encompassing the two above, was up by 14 percent yearly to €250.02 million ($277.65 million).
This was outpaced by the group’s Sports Content, Technology & Services segment, which brought in revenue of €61.21 million ($67.97 million) – up by 33 percent yearly. The group attributes this to a 36 percent growth in its Media & Marketing Services ‘led by higher ads revenue as several sportsbooks increased spending on marketing campaigns, and from contributions from the expansion of our affiliate marketing capabilities,’ notes the company.
By region, Rest of World revenue was up by 12 percent, to €225.13 million ($250 million), while the US segment was up by 31 percent yearly, to €86.1 million ($95.6 million).
Looking ahead, the company is projecting revenue of at least €1.27 billion ($1.41 billion) for FY25, yearly growth of 15 percent.
It also continues to expect to finalize its acquisition of IMG ARENA and its global sports betting portfolio from Endeavor Group Holdings in the fourth quarter of this year. The rights include Wimbledon, US Open, MLS, and PGA Tour, among others. Sportradar won’t be required to pay any financial consideration for the acquisition and is instead set to receive $125 million over two years and up to $100 million of cash pre-payments to certain right holders.
