Carsten Koerl, Chief Executive Officer of Sportradar, said: "We are pleased with our strong execution in 2024, achieving record revenue, operating margins and free cash flow generation. Importantly, we continued to build on our key competitive advantages including enhancing the depth and breadth of our content portfolio and further innovating on our product offerings. On the content front, with the extension and expansion of our Major League Baseball partnership, we now have all our existing major rights locked in for an average of six years, providing us with great cost visibility. And with the announced agreement to acquire IMG ARENA’s sports rights portfolio, we will further enhance our sports coverage in some of the most bet on sports globally. This past year we also grew our product offering, launching a number of award-winning products that expand our best-in class product suite and bring fans closer to their favorite sports. Importantly, as we grow our topline, we are at an inflection point for multi-year margin expansion and increasing cash flow, positioning us to deliver meaningful shareholder value for years to come."

Full Year 2024 Highlights

• Revenue increased 26% to €1,107 million
• Profit for the period of €34 million was in-line with prior year
• Adjusted EBITDA1 increased 33% to €222 million and Adjusted EBITDA margin1 expanded to 20.1%
• Net cash from operating activities increased 36% to €353 million and Free cash flow1 increased 133% to €118 million
• Customer Net Retention Rate1 increased to 127%
• Implemented $200 million share repurchase plan and purchased $20.3 million under the plan
• Exceeded full year guidance for both revenue and Adjusted EBITDA
• Acquired affiliate marketing assets of XLMedia PLC
   

Fourth Quarter 2024 Highlights

• Revenue increased 22% to €307 million
• Loss for the period of €1 million primarily due to foreign currency fluctuations
• Adjusted EBITDA1 increased 53% to €61 million and Adjusted EBITDA margin1 expanded to 19.7%
• Net cash generated from operating activities increased 57% to €82 million and Free cash flow1 decreased to a use of €4 million primarily due to the timing of sport rights payments
• Repurchased $5.7 million of shares under the share repurchase plan

Sportradar Q4 Financial Summary

Revenue Growth

Sportradar’s Q4 revenue reached €307 million, marking a 22% increase year-over-year. Key contributors:

Betting Technology & Solutions: €247 million (+21%) due to strong U.S. market growth and new content like ATP.

Sports Content, Technology & Services: €60 million (+23%), led by marketing and media services expansion.

Regional Performance: U.S. revenue grew 41%, now comprising 24% of total revenue.

Financial Results

Net Loss: €1 million, compared to a €23 million profit last year, mainly due to a €38 million foreign currency loss.

Adjusted EBITDA: €61 million (+53%), driven by revenue growth despite increased sports rights costs.

Business Highlights

Extended partnerships with MLB and UEFA, adding premium content and AI-driven fan experiences.

New long-term UTR Tennis partnership, enhancing betting content.

Launched next-gen NBA products for the 2024-25 season.

Expanded micro markets betting to ATP tennis and basketball.

Opened a new office in São Paulo, Brazil, strengthening Latin American presence.

Balance Sheet & Liquidity

Cash reserves grew to €348 million, fueled by strong operating performance.

Total liquidity reached €568 million, with no outstanding debt.

2025 Financial Outlook

Revenue forecast: €1,273 million (+15%).

Adjusted EBITDA: €281 million (+26%).

Free cash flow conversion above 53%.

Key Acquisition & Share Buybacks

Acquiring IMG ARENA, adding 39,000 official data events and 30,000 streaming events from major leagues like Wimbledon, U.S. Open, and MLS.

Share repurchase: Bought 1.8 million shares in 2024 for $20.3 million.

Sportradar continues strengthening its market position through strategic acquisitions, partnerships, and product innovation.

Subsequent Event

This morning, Sportradar announced it has entered into a definitive agreement with Endeavor Group Holdings, Inc. to acquire IMG ARENA and its global sports betting rights portfolio. IMG ARENA’s portfolio will enhance Sportradar’s content and product offering and further strengthen its strategic position as a leading content provider in the most bet upon global sports, including tennis, soccer and basketball. Under terms of the agreement, IMG ARENA will provide financial consideration totaling $225 million (subject to customary purchase price adjustments), comprised of $125 million cash paid to Sportradar and up to $100 million cash prepayments made to certain of the sports rightsholders. Sportradar will not be required to pay any financial consideration to the Endeavor Group.

With its highly scalable technology platform and extensive client network, Sportradar will seamlessly integrate and monetize these rights, driving incremental value for clients, partners and shareholders. This addition will further accelerate Sportradar’s robust revenue, adjusted EBITDA and free cash flow growth and will be immediately accretive to adjusted EBITDA margins.

IMG’s portfolio of global betting rights comprises strategic relationships with over 70 rightsholders covering approximately 39,000 official data events and 30,000 streaming events across 14 global sports on six continents. Prominent properties include Wimbledon, U.S. Open, Roland-Garros, Major League Soccer, EuroLeague basketball, and PGA Tour, amongst others.

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