Sportradar Reports Fourth Quarter and Full Year 2024 Results and Announces Agreement to Acquire IMG Arena and Its Strategic Portfolio of Global Sports Betting Rights

Sportradar Reports Strong Financial Growth and Strategic Acquisitions in 2024

Sportradar Group AG (NASDAQ: SRAD), a leader in global sports technology, showcased robust financial results for the fourth quarter and full year of 2024, underscoring its success in capturing market opportunities while enhancing its product offerings.

For the full year 2024, Sportradar reported a remarkable 26% increase in revenue, totaling €1,107 million. Adjusted EBITDA soared by 33% to €222 million, with an adjusted EBITDA margin expanding to 20.1%. Net cash from operating activities also demonstrated formidable growth, increasing 36% to €353 million, while free cash flow skyrocketed by 133% to €118 million, affirming the company’s operational efficiency and effective cash management.

Despite the stinging impacts of foreign currency fluctuations—a loss of €38 million—Sportradar’s profit remained steady at €34 million, matching the figures from the previous year. Addressing these results, Carsten Koerl, CEO of Sportradar, stated, “Our execution in 2024 has been strong, leading to record revenue and margin expansion. The enhancements to our product portfolio and our strategic acquisitions position us for ongoing growth and shareholder value.”

The company’s customer net retention rate surged to 127%, indicative of Sportradar’s successful cross-selling and upselling strategies as well as the burgeoning growth in the U.S. market. This growth trajectory was further illustrated in Q4, where total revenue reached €307 million, up 22% year-over-year, along with a notable 53% rise in adjusted EBITDA to €61 million.

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Sportradar’s business segments contributed significantly to these strong results. Notably, the Betting Technology & Solutions segment witnessed revenues of €907 million, reflecting a 29% year-over-year increase, primarily due to heightened demand for its premium content and solutions, especially in the rapidly evolving U.S. market. The Marketing & Media Services segment also thrived, growing by 15% to €200 million as sportsbooks invested in advertising campaigns.

Further enhancing its market position, Sportradar has announced a $200 million share repurchase plan, under which it had purchased approximately $20.3 million worth of shares by the end of 2024. Additionally, the company has made strategic acquisitions, including the affiliate marketing assets of XLMedia PLC, further bolstering its offerings.

Looking ahead, Sportradar plans to acquire IMG ARENA and its extensive sports betting rights portfolio, a move expected to significantly amplify its content and capabilities in the most bet-on global sports. Valued at $225 million, the acquisition is set to close in the fourth quarter of 2025, pending regulatory approvals.

In its fiscal outlook for 2025, Sportradar is guiding for a minimum revenue of €1,273 million and an adjusted EBITDA of at least €281 million, representing year-on-year increases of at least 15% and 26%, respectively. With a focus on maintaining operational excellence and strategic expansions in emerging markets, Sportradar aims to sustain its leadership in the sports technology sector.

Sportradar’s strategic initiatives, including partnerships with prominent organizations such as the NBA and MLB, reflect its commitment to innovation and consumer engagement. As the company continues to redefine the sports fan experience, it reinforces its position at the intersection of sports, media, and betting.