sportradar Reveals 2023 Financial Reults

16 Mar 2023 | Tom Barwick

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Sports data and technology business Sportradar announced financial results for the full 2022 calendar year, seeing a 30% revenue uplift.

The results show that the company’s revenue for the full year of 2022 increased by 30% to €730m (£644m) compared with the prior year, driven by 26% growth from ‘Rest of World Betting’ and 78% growth from the US. This full year revenue exceeded the company’s 2022 annual outlook range of €718m (£633m) to €723m (£637m).

In 2022, Sportradar claims it ‘strengthened its core betting business by increasing its wallet share with customers by selling its higher value products.’ It’s Managed Trading Services (MTS) turnover volume grew 84% to €19.4 billion (£17.1bn), its digital advertising product ads’ revenue grew 69%, and US betting revenue grew 101%.

Total profit for the full year 2022 was €10.5m (£9.2m) compared with €12.8m (£11.2m) for the prior year.

Over the past year, Sportradar has signed new and extended multi-year agreements with FanDuel for official NBA data, NASCAR, Turkish Basketball Federation, Australian premier cricket competitions, and Tennis Data Innovations, in addition to launching integrity focused programmes such as Athlete Wellbeing to support athletes’ mental health. The company also acquired Vaix, an AI solutions developer for the iGaming industry.

Sportradar’s annual outlook for 2023 shows that revenue is expected to be in the range of €902m (£795m) to €920m (£811m).

Carsten Koerl, Chief Executive Officer of Sportradar, commented, “I am very pleased with our strong results driven by exceptional execution this past year. We saw excellent performance across all of our key performance metrics despite challenging macroeconomic conditions including a second consecutive quarter of positive Adjusted EBITDA in the U.S.

“Our continued long-term partnerships with leading global sports bodies, and innovation across new technologies such as artificial intelligence and computer vision and as important, a team passionate about delivering solutions to our clients, make us very excited about our growth in 2023 and beyond.”