Sportradar Revenues Exceed Estimates
Sportradar has announced revenues of €561.2 million (£472m) for 2021, an increase of 39% YoY for the sports data and solutions firm.
Switzerland-based Sportradar, which provides sports data and play-by-play tallies for the betting industry, has credited strong growth across all business segments for the increase as its stock price rose more than 13% on Nasdaq by end of trading on 30th March.
Adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) for the full year rose 33% YoY to €102 million (£85m), exceeding the company’s initial projections.
Profit for 2021 was €12.8 million (£10.8m), down from the €14.8 million (£12.5m) for the previous year.
For the fourth quarter, Sportradar’s revenue climbed 41% YoY to €152.4 million (£128m). US revenue leapt 92% to €23.2 million (£19.3m).
Chief Executive Officer of Sportradar, Carsten Koerl, said, “Our strong results demonstrate the value we provide to our partners and customers around the world. We are the largest provider of sports intelligence in the world and the only profitable global sports technology platform of scale. Critically, we believe we are also the most innovative in developing technology solutions that enable our league customers, media and betting partners to use our ever-increasing data to attract and engage sports fans.”
Michael Jordan-backed Sportradar, which went public last year, also announced a multiyear partnership with the National Basketball Association in the fourth quarter. The company now serves as the exclusive provider of NBA data worldwide.
Sportradar expects full-year 2022 revenue to be in the range of £570m to £602m. Analysts expect £558m or 21.4% growth for the year ending December 2022.
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