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.