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Wednesday, June 19, 2024

Sportradar Revenue Jumps 31%, Posts $175M Quarter

  • 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.
Sport Radar booth at event
Sportradar

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.

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