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 first quarter ended March 31, 2025.

Carsten Koerl, Chief Executive Officer of Sportradar, 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. 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.”

FIRST QUARTER FINANCIAL RESULTS

Revenue

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Total revenue for the first quarter was €311 million, up €45 million, or 17% year-over-year, driven by 14% growth in Betting Technology & Solutions and 33% growth in Sports Content, Technology & Services.

Betting Technology & Solutions revenues of €250 million were up 14% year-over-year primarily driven by a 13% increase in Betting & Gaming Content primarily from customer uptake of additional products and from U.S. market growth. Managed Betting Services revenues were up 16% driven by strong growth in Managed Trading Services from increased turnover and higher trading margins.

Sports Content, Technology & Services revenues of €61 million increased 33% year-over-year primarily driven by 36% growth in Marketing & Media Services led by higher ad:s revenue as several sportsbooks increased spending on marketing campaigns, and from contributions from the expansion of our affiliate marketing capabilities.

The Company generated strong revenue growth globally with Rest of World up 12% and the United States up 31%. As a percentage of total Company revenues, United States revenue represented 28% of total Company revenue in the first quarter as compared to 25% in the prior year quarter due to continued market growth and additional customer uptake of our products.

Customer Net Retention Rate of 122% further demonstrates our ability to cross-sell and up-sell to our clients, as well as the market growth in the United States.

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Profit for the period

Profit for the period was €24 million, up €25 million, compared to a loss of €1 million in the same quarter a year ago, driven by strong operating results and a foreign currency gain of €28 million in the quarter as compared to a €14 million loss last year, due to unrealized currency fluctuations mainly associated with the U.S. dollar-denominated sport rights. These increases were partially offset primarily by higher share-based compensation and amortization of capitalized sport rights licenses expenses compared with the first quarter a year ago.

Adjusted EBITDA

First quarter Adjusted EBITDA was €59 million, up €12 million, or 25%, compared to €47 million in the same quarter a year ago. The increase was largely driven by the 17% revenue growth, partially offset by increased sport rights costs primarily related to the continued success of the ATP partnership deal, higher purchased services driven by investments in developing our product portfolio and increased personnel expenses to support growth initiatives.

Business Highlights

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• Announced agreement to acquire IMG ARENA and its global sports betting rights portfolio. Following receipt of regulatory approvals and the closing, which is currently anticipated to take place in the fourth quarter of 2025, IMG ARENA’s portfolio is expected to enhance Sportradar’s content and product offering and further strengthen its strategic position as a leading content provider in the most bet upon global sports, including tennis, soccer and basketball.
• Announced the extension and expansion of our partnership with Major League Baseball (“MLB”) for 8 years, beginning with the 2025 season. Sportradar will exclusively distribute ultra-low latency official MLB data, media content, including MLB Statcast Data, and audiovisual content across our global client network. Additionally, Sportradar and MLB will collaborate on the creation of AI-driven products powered by player tracking data to create immersive, hyper-personalized fan experiences.
• Expanded Alpha Odds, Sportradar’s AI-enabled premium odds calculation and risk management solution, into cricket, a sport that generates an estimated €80 billion in global betting turnover annually.
• Signed multi-year partnership with the Brazilian Volleyball Confederation (CBV) to safeguard CBV competitions from corruption and match-fixing through Sportradar’s Universal Fraud Detection System (UFDS), and to supply metrics and dynamic visualizations for coaching teams.
• Extended long-standing partnership with the Brazilian Football Confederation (CBF). Sportradar will deliver integrity monitoring for more than 8,200 men’s and women’s matches organized annually by the CBF, now including all Brazilian national championships.

Balance Sheet and Liquidity

The Company’s cash and cash equivalents were €358 million as of March 31, 2025 as compared with €348 million as of December 31, 2024. The increase was primarily driven by net cash generated from operating activities of €102 million due to the strong operating performance, partially offset by net cash used in investing activities of €66 million, primarily from the acquisition of additional sport rights and from net cash used in financing activities of €19 million, due primarily to share repurchases related to employee stock grants. Free cash flow for the first quarter was €32 million, an increase of €32 million compared to the same period a year ago.

Including its undrawn credit facility, the Company had total liquidity of €578 million at March 31, 2025 as compared to €568 million as of December 31, 2024, and no debt outstanding.

2025 Annual Financial Outlook

Sportradar reiterated its fiscal 2025 outlook as follows:

• Revenue of at least €1,273 million, representing year-on-year growth of at least 15%
• Adjusted EBITDA of at least €281 million, representing year-on-year growth of at least 26%
• Adjusted EBITDA margin expansion of at least 200 basis points
• Free cash flow conversion¹ rate above the 2024 level of 53%

The 2025 guidance does not include any impact from the pending acquisition of IMG ARENA given the uncertainty around the timing of close. Guidance will be updated to incorporate the anticipated uplift resulting from this acquisition following the closing of the transaction.

Share Repurchase Plan

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In March 2024, the Board of Directors approved a $200 million share repurchase plan. As of May 9, 2025 the Company has repurchased 4.8 million shares under the plan for a total of $86 million, including 3.0 million shares in conjunction with the recently completed secondary offering.

Conference Call and Webcast Information

Sportradar will host a conference call to discuss the first quarter results today, May 12, 2025, 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.

ZEAL and GAMOMAT, two renowned companies in the iGaming industry in Germany, announce their cooperation. As part of the partnership, ZEAL will integrate a continuously growing number of online games from the Berlin-based development studio GAMOMAT into its games portfolio in the web shops of its brands LOTTO24 and Tipp24. The cooperation has officially started in April this year.

Strong advantages for both sides

The cooperation brings advantages for both companies: While ZEAL can expand its product range with GAMOMAT’s popular and high-quality titles and also benefits from the company’s experience in international markets, GAMOMAT will increase its targeted reach and growth through its cooperation with ZEAL.

“With GAMOMAT’s popular games, we are expanding our portfolio with high-quality titles that will delight our customers,” says Alex Green, Vice President Games at ZEAL. “We are proud to have such an experienced and successful partner like GAMOMAT at our side and are very much looking forward to the mutual exchange.”

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“We are proud of our partnership with ZEAL,” says Robert Kocher, Managing Director of GAMOMAT Distribution GmbH. “Our goal is to reach as many satisfied customers as possible with our portfolio. The regulated market in Germany is a home turf for us, and therefore the integration of our titles into ZEAL’s high-quality portfolio is particularly important to us. For us, this is another step in our sustainable growth strategy with a trusted partner.”

7777 gaming, a leading provider of innovative iGaming content, has officially entered the Croatian market through an exclusive partnership with SuperSport’s brand Super Casino, the country’s largest betting operator. This collaboration marks a significant milestone for 7777 gaming as it continues its expansion across the Balkans.​

SuperSport, a dominant force in Croatia’s regulated gaming industry with approximately 50% market share, is now offering a selection of certified titles from 7777 gaming. Among these are popular games such as Crazy 100 Bucks, Thracian Treasures, Barbarian, Greenhats’ Megawins, and Devil’s Deal: Soul for Sale. Each game is designed with cutting-edge mechanics, immersive themes, and rewarding features to provide an unparalleled player experience.​

In addition to its diverse game portfolio, 7777 gaming introduces three exciting jackpot concepts to the Croatian market:​

Juicy Cash Jackpot – A fruit-themed jackpot offering dynamic rewards.

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Crazy Bucks Jackpot – High volatility gameplay delivering adrenaline-fueled wins.

Jackpot Temple – A mystical adventure promising epic prizes.​

“We are thrilled to partner with SuperSport and bring our unique gaming content to Croatian players,” said Elena Shaterova, CCO at 7777 gaming. “This exclusive collaboration allows us to showcase our commitment to delivering high-quality, engaging games tailored to the local market’s preferences.”​

Tugomil Cerovečki, Casino Director at SuperSport added, “Integrating 7777 gaming’s titles into our platform enhances our offerings and aligns with our goal to provide top-tier entertainment to our users. We are confident that our players will appreciate the innovative gameplay and exciting jackpot features.”​

This partnership underscores 7777 gaming’s strategic focus on expanding its presence in the Balkans and reinforces its dedication to delivering exceptional gaming experiences across new markets.

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About 7777 gaming:

7777 gaming is an innovative and data-driven B2B igaming provider, founded in 2020 with the mission to revolutionize and challenge the status quo in the industry by offering 360-degree platform, state-of-the-art online casino games, iLottery, Jackpot, and marketing solutions, draw-based games, scratch cards, and much more.

The product is built by a dedicated team of visionaries with over 20 years of experience. The games and the RNG are tested and compliant in several highly regulated jurisdictions worldwide. Besides, the company achieved and maintained ISO 27001 certification. 7777 gaming holds a gambling license in Bulgaria and Romania and an MGA Certificate to provide its online casino games to these markets.

7777 gaming is already partnering with the leading aggregators and platform providers in the igaming industry.

Contact us:

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[email protected]

https://www.7777gaming.com

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