Sportradar reported €25.7m revenue from the United States, double the amount from Q1 2021. Rest-of-world betting solutions generated €86.7m, a 25.1% increase. The growth was driven by higher value-add offerings, including managed betting services (€26.4m, up 51%) and live data and odds services (€46.8m, up 16%). Rest-of-world audiovisual products, such as live streams, contributed €45.9m (up 16.9%) due to increased Tennis Australia and NHL content. Revenue from other segments increased 13.6% to €9.5m.
Sportradar’s CEO, Carsten Koerl, credited the company’s highest-margin products for driving growth. He noted the strong performance of the US business, which benefits from the legalization of sports betting and its transformation into mainstream entertainment. Sportradar’s technology and data-driven insights continue to impact the converging media, entertainment, and sports industries, fueling long-term profitable growth.
In Q2, Sportradar invested €36.8m in purchased software and licenses (up 53.9%). However, €4.0m of these costs were capitalized as internally developed software. Personnel expenses amounted to €52.3m (up 35.2%) owing to a 620 increase in full-time employee headcount (3,075 employees at quarter-end). Other operating expenses rose 34.5% to €19.5m.
The company incurred €52.5m in depreciation and amortization costs, along with €1.0m in impairment costs. However, it gained €10.4m in foreign exchange and paid €8.9m in finance costs. Consequently, pre-tax profit reached €11.3m (up 149.4%), resulting in a profit of €8.2m (up 256.5%) after paying €3.1m in income tax.
Despite growth in revenue and net profit, Sportradar’s adjusted EBITDA for the quarter decreased by 5.0% to €26.7m. This was primarily due to increased investment in the growing US segment, leading to an EBITDA loss.
After the quarter ended, Sportradar acquired Vaix, an artificial intelligence specialist. Vaix, founded in 2016, provides a personalized experience to over 50 million users through its AI-powered platform by analyzing more than 60 billion transactions. The deal followed over two years of collaboration between Sportradar and Vaix.
