The report also shows Sportradar’s adjusted EBITDA grew to €36.4m in Q3 2022, against €20.8m for the same period in 2021 – representing a rise of 75%.
For the first nine months of the year ending September, Sportradar’s revenue totalled €523.9m compared to €408.8m in 2021, and its EBITDA rose to €90.7m from €80.6m.
The results look good for Sportradar, which is enjoying a stellar 2022 with significant growth across multiple areas. This is something Carsten Koerl, CEO of Sportradar, highlighted in his statement: “Our strong performance in the third quarter exceeded our expectations across all key financial metrics.
“We consistently managed to grow revenue, profitability and cash flows despite adverse market conditions during the first three quarters of 2022.
“The company exceeds expectations quarter-in and quarter-out, and as a result of our operational performance – in particular the US and the betting rest-of-world business – as well as our organisational streamlining, we are able to raise our full-year guidance for revenue and increase the lower end of our adjusted EBITDA range.”
Meanwhile, during the third quarter, Sportradar highlighted that it had prepaid €200m of its outstanding debt and its cash equivalents totalled €512m.
In further Sportradar news, the company recently resolved its dispute with Genius Sports and Football DataCo (FDC).
The resolution enables FDC to continue to license and market FDC data as it determines in the future, with Genius Sports shall maintaining the exclusive right to provide low-latency official FDC betting data until 2024.