Zona de Azar Switzerland – Sportradar Reports a 29% Increase in Revenue (Q2 2024)

Switzerland – August 20, 2024 www.zonadeazar.com Sportradar, a global provider of sports data and content, has reported a significant 29% increase in its revenue for the second quarter of 2024, reaching €62 million compared to the same period last year.

This growth has been driven by a substantial 59% increase in revenue from the U.S. market and a 22% increase in Europe, APAC, and Latin America.

The company’s CEO, Carsten Koerl, attributes this success to several factors, including new partnerships with major sports leagues, the expansion of its managed trading services, and a strategic focus on AI-driven betting and streaming products. Sportradar’s optimistic outlook is further supported by its raised full-year forecast, anticipating at least €1.07 billion in revenue and an adjusted EBITDA of at least €204 million.

Key Data

• Sportradar’s Q2 revenue increased by 29%, driven by strong growth in the U.S. and other global markets.
• The company secured exclusive rights with UEFA and expanded its managed trading services with 46 new sportsbooks.
• Its focus is on enhancing AI capabilities and innovating in the sports economy.
• Sportradar reported expanded margins, high free cash flow, and a significant increase in adjusted EBITDA.
• The company is debt-free and ended the quarter with €322 million in cash and cash equivalents.
• A share buyback program has been initiated, signaling confidence in long-term growth.
• Full-year forecasts have been raised, with revenue growth expected to be at least 22% compared to the previous year.

Edited by: @_fonta www.zonadeazar.com