Sportradar Q1 revenue up 17% to €311m; customer retention rate up 122%
The sports technology supplier reported positive results across the board.
Key points:
– Sportradar announces revenue up 17% to €311m
– The company also jumped from a €649,000 loss in Q1 2024 to a €24.3m profit this quarter
– The period also saw Sportradar agree to acquire IMG Arena’s assets in complicated deal
Sportradar has released its Q1 report for the first quarter ending 31 March 2025.
Revenue increased 17% year-on-year for a total of €311m ($345.4m), which was driven by several divisions reporting significant growth.
When looking at the different departments, Betting Technology & Solutions noted a 14% growth in revenue for a total of €250m, which was comprised of €193.8m in revenue from Betting & Gaming Content and €56.2m from Managed Betting Services – a 13% and 16% increase, respectively.
Revenue from Sports Content, Technology & Services housed products with the most significant growth, with €61.2m signalling a 33% increase.
This was comprised from €46.6m from Marketing & Media Services, a 36% increase in revenue; €11.4m in Sports Performance, which was up 23%; and €3.19m from Integrity Services, a 33% increase.
As for the geographical split in revenue, €225.1m came from Rest of World, which saw a 12% increase year-on-year.
While the US noted a 31% increase, this translated to €86.1m.
The company also noted an exponential growth in profit, with the €24.3m profit this quarter compared to a €649,000 loss in Q1 2024.
Sportradar attributes this to “higher share-based compensation and amortisation of capitalised sport rights licenses expenses compared with the first quarter a year ago.”
Adjusted EBITDA was also up 25% to €59m, which the company explains is due to developments in the product portfolio.
Carsten Koerl, Sportradar CEO, said: “We had a strong start to the year with record quarterly revenue as we delivered broad-based growth across our leading product suite and diverse global footprint, while expanding margins and cash flow.
“The continued momentum we are generating builds upon our success from last year, demonstrating the durability of our business and our mission critical role in the expanding sports ecosystem.
“During the quarter we also further bolstered our leading content portfolio with the extension and expansion of our partnership with Major League Baseball and we signed an agreement to acquire IMG Arena’s sports betting rights portfolio.”
Good to know: Sportradar recorded a customer net retention rate of 122% during this quarter
During this quarter, Sportradar announced its agreement to acquire IMG Arena and its global sports betting rights portfolio, extended its partnership with Major League Baseball (MLB) for eight years, signed a partnership with the Brazilian Volleyball Confederation (CBV) and extended its partnership with the Brazilian Football Confederation (CBF).
Following these results, Sportradar has reiterated it expects revenue of €1.27bn and adjusted EBITDA of €281m by the end of the fiscal year.
Koerl concluded: “We are excited by the unique opportunities these valuable properties will provide to our customers and look forward to generating additional value for our shareholders in 2025 and beyond.”
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