Sportradar continues to grow as sports embrace more technology and data.
The sports data aggregator generated $175.2 million in revenue in Q3 2022, a 31% increase year-over-year. Net income reached $15 million during the quarter, compared to $6.2 million for the same period last year.
- U.S. revenue reached $32.6 million in Q3 2022, a 61% increase year-over-year.
- Its Rest of World betting segment posted $104 million in revenue, up 28% compared to Q3 2021.
Sportradar went public in September 2021 after raising more than $670 million in its initial public offering, which valued the company at $7.98 billion.
It previously planned to go public via a merger with Horizon Acquisition Corp. — a blank-check company backed by Los Angeles Dodgers and Chelsea FC co-owner Todd Boehly.
The merger dissolved after the SEC issued guidance that some investments made by blank-check companies should be classified as an asset or liability, not equity.
Growth Through Diversity
Sportradar has spurred growth through a diverse portfolio of clients.
“Sportradar follows a clear value proposition, so we know where we have to deliver results,” CEO Carsten Koerl told Front Office Sports.
In October, Sportradar secured a deal with Flutter Entertainment’s FanDuel to supply its sportsbook platform with official NBA data and supplementary betting services through the 2030-31 season. It also extended its original data agreement with FanDuel from 2021.
Earlier this month, Sportradar landed a multiyear deal with Baseball Australia to broadcast Australian Baseball League games on new livestreaming service OnDemand.