Latest News
SPORTRADAR REPORTS SECOND QUARTER 2024 FINANCIAL AND OPERATING RESULTS

Sportradar Group AG (NASDAQ: SRAD) (“Sportradar” or the “Company”), a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, today announced financial results for its second quarter ended June 30, 2024.
Carsten Koerl, Chief Executive Officer of Sportradar, said: “Our strong second quarter results, including another quarter of record revenues are a testament to the operating momentum we are generating across our business and the clear execution against our strategies to drive outperformance versus the market. We delivered robust growth across our high-value product portfolio and strong client uptake, while continuing to strengthen our business by driving efficiencies and significant cash flow. I am pleased to once again raise our full year guidance as we continue to build long-term shareholder value through strong topline growth, a focus on delivering additional operating leverage and increasing cash flow generation.”
Second Quarter 2024 Financial Highlights
- Revenue was €278.4 million, up 29% year-over-year demonstrating continued momentum in the business.
- Betting Technology & Solutions revenues were €229.1 million, up 30% year-over-year, and Sports Content, Technology & Services revenues were €49.3 million, up 22% year-over-year.
- Delivered strong revenue growth globally with Rest of World up 22% and the U.S. up 59%.
- The current quarter generated a loss of (€1.5 million) compared to a de minimis profit for the same quarter last year.
- Adjusted EBITDA[i] was €48.8 million, up 22% year-over-year.
- Net cash generated from operating activities since the beginning of the year was €152.6 million, up 17% year-over-year.
- The Company’s customer Net Retention Rate[ii] was 117%, demonstrating the strength in cross selling and upselling to clients, and increasing sequentially.
- As of June 30, 2024, the Company had total liquidity of €542.2 million as compared to €483.7 million as of June 30, 2023, benefitting from strong cash flow generation in the first half of 2024.
- During the quarter, the company repurchased approximately 588,000 shares, for a total amount of $6.2 million. As of August 9, 2024, the Company has repurchased approximately 748,000 shares with a total value of $8.0 million.
- The Company further raised its full-year 2024 outlook and now expects to deliver 22% year-over-year growth in revenue and Adjusted EBITDA.
Key Financial and Operating Metrics
|
Q2 | Q2 | Change | Change | ||||
in €’000 (unaudited) | 2024 | 2023 | € | % | ||||
Total Revenue | 278.4 | 216.4 | 62.0 | 29% | ||||
Profit (loss) for the period from continuing operations | (1.5) | 0.0 | (1.6) | n/a | ||||
Profit (loss) for the period from continuing operations as a percentage of revenue | (0.6%) | 0.0% | -57 bps | n/a | ||||
Adjusted EBITDA | 48.8 | 40.1 | 8.7 | 22% | ||||
Adjusted EBITDA Margin1 | 17.5% | 18.5% | -98 bps | n/a | ||||
Net Retention Rate | 117% | 120% | -360 bps | n/a | ||||
Supplemental Revenue Analysis | ||||||||
Revenue Grouping | ||||||||
Betting Technology & Solutions | 229.1 | 176.1 | 53.0 | 30% | ||||
Sports Content, Technology & Services | 49.3 | 40.3 | 9.0 | 22% | ||||
278.4 | 216.4 | 62.0 | 29% | |||||
Revenue Grouping as % of Total Revenue | ||||||||
Betting Technology & Solutions | 82% | 81% | 1% | |||||
Sports Content, Technology & Services | 18% | 19% | -1% | |||||
Geographic | ||||||||
Rest of World | 217.8 | 178.4 | 39.4 | 22% | ||||
United States | 60.6 | 38.0 | 22.6 | 59% | ||||
278.4 | 216.4 | 62.0 | 29% | |||||
Geographic as % of Total Revenue | ||||||||
Rest of World | 78% | 82% | ||||||
United States | 22% | 18% | ||||||
Recent Business Highlights
- Sportradar Managed Trading Services (MTS) customer pipeline had a strong first half of 2024. 46 new customers have signed up for MTS year-to-date, which will bring total customers to over 200 worldwide, expanding coverage in fast growing sports betting territories including Latin America & Africa.
- UEFA and Sportradar extend and expand partnership. The expanded agreement covers all UEFA Club and National team competitions, over 900 high-profile matches, a 33% increase from the previous relationship. The agreement also expands its existing, exclusive betting data rights and Integrity partnership to include non-exclusive right to distribute data to non-betting media.
- Sportradar launches audio and expands digital-out-of-home advertising channels to increase operators’ reach and brand awareness. Sportradar announced the launch of ad:s for audio and an enhanced digital-out-of-home offering, expanding the reach of the company’s leading marketing services to podcasts, streaming services, internet radio and over 600,000 digital outdoor screens across move than 100 countries.
- Sportradar launches industry-first social media video ads featuring live sports and betting data. Initially launched across Meta’s social media platforms, Sportradar’s proprietary technology creates and delivers tailored social media video advertisements, which update in real-time to reflect betting market movements, including live odds, as well as casino games and jackpot value, to aid customer retention and drive revenue.
Revenue
Total revenue for the current quarter was €278.4 million, up 29% year-over-year driven by growth across the portfolio, in particular Betting Technology & Solutions.
Betting Technology & Solutions
Betting Technology & Solutions revenues were €229.1 million, up 30% year-over-year primarily driven by:
- Streaming & Betting Engagement, up €26.2 million or 41% year-over-year, and Live Data and Odds up €18.6 million or 27% year-over-year, with both benefitting from existing and new customer uptake of our products and premium pricing, as well as from the strong U.S. market growth.
- Managed Betting Services, up €8.5 million or 21% year-over-year, primarily driven by strong growth in Managed Trading Services due to higher trading margins and increased betting activity from existing and new customers.
- As a percentage of total company revenues, Betting Technology & Solutions represented 82% of total company revenue in the current quarter as compared to 81% in the prior year quarter.
Sports Content, Technology & Solutions
Sports Content, Technology & Solutions revenues were €49.3 million, an increase of 22% year-over-year primarily driven by:
- Marketing and Media Services were €7.7 million, up 28% year-over-year, with strong growth in European and North America ad:s revenue as several sportsbooks launched marketing campaigns.
- Sports Performance was broadly flat year-over-year.
- As a percentage of total company revenues, Sports Content, Technology & Solutions represented 18% of total company revenue in the current quarter as compared to 19% in the prior year quarter.
Costs and Expenses
- Purchased services and licenses were €72.6 million, up €22.0 million or 44% year-over-year. Of the total purchased services and licenses, €28.9 million was expensed sport rights. Excluding expensed sport rights, purchased services were €43.7 million, up €10.5 million or 32% year-over-year driven primarily by the Company’s investments in its product portfolio.
- Personnel expenses were €89.1 million, up €4.7 million or 6% year-over-year and down approximately 700 bps as a percentage of revenue, as we continue to closely manage our resources and focus on delivering operating leverage.
- Other Operating expenses were €22.6 million, up €1.6 million or 8%, down approximately 160 basis points as a percentage of revenue, as we further leveraged our existing infrastructure.
- Total sport rights costs were €95.9 million, up €43.6 million or 83% year-over-year, driven by new rights, in particular our ATP and NBA partnership deals.
Share Repurchase Program
In March of this year the Board of Directors approved a $200 million share repurchase program and commenced purchases during the second quarter. As of August 9, 2024, the Company has repurchased approximately 748,000 shares under the plan for a total of $8.0 million.
Updated 2024 Annual Financial Outlook
Sportradar is further raising its fiscal 2024 outlook for revenue and Adjusted EBITDA as follows:
- Revenue of €1,070 million compared with prior outlook of €1,060 million, up 22% year-over-year and representing a 1-percentage point improvement in our full year growth rate outlook.
- Adjusted EBITDA of at least €204 million compared with prior outlook of €202 million, up 22% and representing a 1-percentage point improvement in our full year growth rate outlook.
- Adjusted EBITDA margin of approximately 19%.
Conference Call and Webcast Information
Sportradar will host a conference call to discuss the second quarter 2024 results today, August 13, 2024, at 8:30 a.m. Eastern Time. Those wishing to participate via webcast should access the earnings call through Sportradar’s Investor Relations website. An archived webcast with the accompanying slides will be available at the Company’s Investor Relations website for one year after the conclusion of the live event.
[i] Non-IFRS measure. See the sections captioned “Non-IFRS Financial Measures and Operating Metric” and “IFRS to Non-IFRS reconciliations” for more details.
[ii] Non-IFRS Operating Metric. See the section captioned “Non-IFRS Financial Measures and Operating Metric” for more details.
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eSports
Esports Charts Becomes Official Viewership Analytics Partner of StarLadder Budapest Major 2025

Esports Charts, the leading esports viewership analytics provider, has partnered with StarLadder, a pioneering tournament organiser. The Budapest Major 2025 marks a highly anticipated comeback for StarLadder, as it is their first Counter-Strike Major since 2019 and a significant return to the top-tier esports arena.
As the official analytics partner of the StarLadder Budapest Major 2025, Esports Charts will provide comprehensive, real-time audience data and insights throughout the event. This will empower organisers, teams, sponsors and fans with unparalleled transparency and a deeper understanding of the tournament’s global reach.
Artyom Odintsov, Co-founder and CEO of Esports Charts, said: “We are thrilled and proud to provide viewership analytics for StarLadder for the Budapest Major 2025. Since both Esports Charts and StarLadder are Ukraine-born companies, we share similar values and deal with similar challenges, which brings us even closer.
“It’s genuinely exciting to follow how viewership will develop at this Major. But knowing the expertise, drive, and passion that the organizers are bringing, I have no doubt we’ll witness some incredible things happen in Budapest.
“Esports Charts has always been driven by a mission to provide the esports community with accurate, actionable data, and we look forward to showcasing the impact and audience engagement of this world-class event.”
StarLadder has been a driving force in global esports for almost 15 years now, since hosting its first tournaments in 2011. Renowned for its innovation and reliability, the company has organised some of the industry’s most iconic events. These include the StarLadder Berlin Major 2019, which accumulated over 44 million hours watched and remains in the top 10 CS events by this metric, and the legendary StarSeries tournaments which started back in 2012.
Viacheslav Shcherbakov, Sales and Partnerships at StarLadder, said: “We’ve been working with Esports Charts since their founding and have always valued their professionalism and integrity. In a market where reliable data is essential, Esports Charts provides honest, transparent numbers, exactly the kind of insights sponsors and stakeholders rely on when assessing the potential reach of a World Championship event.
“We’re confident that this partnership will result in a high-quality analysis of our tournament’s performance and the audience data we’ll report to our partners. It’s a collaboration built on trust, shared values, and a deep understanding of what it takes to elevate esports to the next level.”
The Starladder Budapest Major 2025 will be held from November 24 to December 14 in Budapest, Hungary. The event will bring together the world’s top 32 Counter-Strike 2 teams to compete for a $1.25 million prize pool and one of the most prestigious titles in esports.
The post Esports Charts Becomes Official Viewership Analytics Partner of StarLadder Budapest Major 2025 appeared first on European Gaming Industry News.
Latest News
Superbet Becomes New Main Sponsor of Jagiellonia Białystok

Superbet has become the new main sponsor of Jagiellonia Białystok. The logo of one of Poland’s leading bookmakers will appear on the front of the Podlasie team’s match jerseys. This is the fourth Ekstraklasa club, alongside Lech Poznań, Górnik Zabrze and GKS Katowice, to join the bookmaker’s extensive sponsorship portfolio.
The new partnership is more than just a logo on a jersey – the collaboration between Jagiellonia and Superbet is intended to have a particularly fan-focused nature. The brand is announcing numerous dedicated campaigns, events and surprises aimed at fans of the yellow and reds. The first of these has already launched with the announcement of the partnership – and will undoubtedly delight anyone planning to purchase the new jersey.
Superbet will pay a 100 PLN bonus towards the purchase of an official Jagiellonia match jersey. A total of 1920 jerseys will be available as part of the promotion – a number symbolically related to the year the club was founded. The promotion is valid both in-store and online and is open to all Superbet app users.
“When making a purchase in a stationary store, all you need to do is show the installed application, and for online customers, verification will take place via the email address: [email protected], to which you can simply send a short message, and in response, fans will receive a unique code entitling them to purchase a T-shirt at a discount,” explains Bartosz Malaka, Head of Marketing & Sponsoring at Superbet.
However, this is not the end of surprises for fans of the Białystok club, because if they register using the special code “JAGA,” they will also receive a welcome bonus.
“Jagiellonia fits perfectly into our sponsorship strategy – it’s a club with ambition, a strong identity, and enormous potential that combines modernity with local character. W’’re thrilled to be embarking on this journey together. Our logo will now appear on the fronts of the jerseys of four Ekstraklasa clubs, confirming our continued leadership in sports sponsorship,” said Łukasz Seweryniak, General Manager of Superbet Polska.
“Jaga is the perfect partner for us – with a great history and a huge, loyal community of fans who live and breathe this club every day. With them in mind, we’re preparing a whole package of activations, surprises, and events designed to build even stronger bonds. We want to show that just as Jaga is a super club, Superbet is a super sponsor,” Malaka said.
“I am extremely proud and happy to have entered into a partnership with such a renowned and recognizable brand as Superbet. I would like to emphasize that this is the highest-ever sponsorship agreement in the club’s history, which further underscores the importance of this partnership. I believe the word ‘partnership’ is key in the context of our agreement. I am most pleased that we are not just gaining a sponsor, but a true partner with whom we will achieve great things together,” said Ziemowit Deptuła, President of the Management Board of Jagiellonia Białystok SSA.
The partnership with Superbet is another important step in Jagiellonia’s development – not only in terms of sporting activities, but also in terms of modern marketing and fan engagement. Both parties emphasize that this will be a collaboration based on genuine commitment and closeness to fans.
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Australia
VGCCC Fines Werribee RSL for Self-exclusion Failures

The Victorian Gambling and Casino Control Commission (VGCCC) has fined the Werribee RSL $30,000 for failing to prevent 2 self-excluded customers from gambling.
VGCCC CEO Suzy Neilan said: “This is the first time the VGCCC has taken disciplinary action against a club or hotel for self-exclusion breaches.
“Self-exclusion programs empower people to manage their gambling by registering to be temporarily or permanently blocked from entering gambling areas of clubs, pubs and casinos.
“By failing to respect a person’s decision to self-exclude, a venue may put customers who have decided to take a break from gambling, or quit altogether, at risk of experiencing gambling harm.”
In January 2024, the VGCCC received an anonymous tip-off that a self-excluded person entered the Werribee RSL gaming room and used the poker machines. The venue self-reported a second breach in May 2024, after realising a different customer had gambled at the venue on at least 4 occasions between February and May 2024.
Ms Neilan said: “Taking disciplinary action is the last resort. We would prefer venues take their harm minimisation responsibilities seriously by complying with their legal obligations, including through the effective implementation of tools like self-exclusion.
“Venues and their staff are the last line of defence for self-excluded customers, who should be able to trust that their decision to self-exclude will be respected. They must have the appropriate controls in place to prevent self-excluded people from entering gaming rooms.”
The VGCCC acknowledged that Werribee RSL cooperated with the investigations and has since taken steps to strengthen its procedures. These include improved and regular staff training, daily audits of the self-exclusion register and greater use of technology to identify self-excluded customers who attempt to enter the gaming room.
This remedial action was taken into consideration in determining the amount of the fine.
The post VGCCC Fines Werribee RSL for Self-exclusion Failures appeared first on European Gaming Industry News.
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