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Saturday, May 18, 2024

Sportradar Revenue Jumps 30% in Q3

  • Sportradar posted $158.7 million in revenue in Q3 2021.
  • Revenue jumped 30% compared to Q3 2020.
Sportradar/Design: Alex Brooks

Sportradar posted $158.7 million in revenue in Q3 2021, a 30% increase compared to the same period last year.  

The sports data aggregator saw growth across all segments in Q3, led by its U.S. business, which generated $22 million in revenue during the quarter — a 119% increase compared to Q3 2020. Sportradar expects full-year revenue to range between $641 million and $644 million. 

The company will benefit from the $125 billion that will be bet on the NBA worldwide in 2021, plus an estimated $47 billion wagered on NFL games this season. 

Sportradar has been expanding rapidly as the sports betting market grows.  

  • March: The company agreed to acquire Synergy Sports, a college sports data provider.
  • May: It agreed to acquire InteractSport, a sports data company with expertise in cricket.
  • August: The company extended its partnership with FanDuel through 2028. 
  • November: It secured betting data rights deals with UEFA and the NBA

Sportradar went public in September after raising $513 million through an IPO, giving the company a valuation of just under $8 billion.  

The Switzerland-based company originally planned to go public in March via a merger with Horizon Acquisition Corp., a SPAC backed by Los Angeles Dodgers co-owner Todd Boehly.

The deal dissolved following SEC-issued guidance regarding how SPAC investments are classified.

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