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Sportradar Rides the Sports Betting Trend From Behind the Curtain
marketbeat.com· 2024-05-22 10:10
Key Points Investors have been pouring into sports betting stocks like DraftKings Inc. NASDAQ: DKNG and Fan Duel's parent, Flutter Entertainment plc NYSE: FLUT. Streaming giants like Amazon Inc. NASDAQ: AMZN and Netflix Inc. NASDAQ: NFLX are jockeying to keep and sign lucrative broadcasting deals with major sports leagues like the NFL, MLB, Formula One and NASCAR. Get Sportradar Group alerts: Skin in the Game Makes it More Fun. The global sports industry generated over $159 billion in 2023, and analysts exp ...
Sportradar AG(SRAD) - 2024 Q1 - Earnings Call Presentation
2024-05-15 16:43
Certain statements in this presentation may constitute "forward-looking" statements and information within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events, including, without limitation, statements regarding future financial or operating performance, planned activities and objectives, antic ...
Sportradar AG(SRAD) - 2024 Q1 - Earnings Call Transcript
2024-05-15 16:38
Financial Data and Key Metrics - Revenue for Q1 2024 was €266 million, up €58 million or 28% year-over-year [7] - Net loss for the quarter was €1 million, compared to a profit of €7 million in the prior year quarter [7] - Adjusted EBITDA was €47 million, up €11 million or 29% year-over-year, with an adjusted EBITDA margin of 18% [35][69] - Full-year revenue and adjusted EBITDA growth guidance raised to at least 21% [5][73] - Net cash from operating activities was €67 million, up €10 million or 17% year-over-year [66] Business Line Performance - Betting Technology & Solutions revenue grew 35% year-over-year to €219 million, driven by streaming and betting engagements, live data and odds, and managed betting services [67] - Sports Content, Technology & Services revenue grew 5% year-over-year to €47 million, primarily driven by marketing and media services [37] - Managed Trading Services (MTS) turnover grew 28% year-over-year to approximately €9 billion [30] Geographic Performance - Rest of World revenues grew 19% year-over-year to €200 million, representing 75% of total revenues [68] - U.S. revenues grew 65% year-over-year to €66 million, representing 25% of total revenues [68] Strategy and Industry Competition - The company is focused on driving shareholder value through a growth strategy centered around content, data, and technology [18] - Key partnerships with ATP and NBA are amplifying revenue growth and driving customer uptake of additional services [28] - The company is investing in AI and computer vision technology to enhance products and drive fan engagement [15][62] - The company is leveraging its scale and resources, with over 800 betting operators, 400 sports leagues, and 900 media partners [56] Management Commentary on Operating Environment and Future Outlook - The company is confident in its outlook, supported by a consistent track record of at least 20% revenue growth for the past three years [14] - The company expects adjusted EBITDA margins to progress from the mid-to-high teens in the first half of the year to the low-20s in the second half [44] - The company is focused on sustainable profitability and unlocking operating leverage across all major expense line items [75] Other Important Information - The company is commencing a $200 million share repurchase program in the upcoming trading window [13][72] - The company has made key additions to its leadership team, including a new CFO and Chief Technology and AI Officer [17][26] - The company has simplified its financial reporting approach to align with its streamlined global organizational structure [2][65] Q&A Session Summary Question: Data rights and pricing strategy for NBA and ATP contracts [47] - The company successfully integrated ATP and NBA contracts, with U.S. revenues exceeding expectations [48] - The company expects to benefit from strong growth in the coming years due to the linear amortization of sports rights costs [49] Question: Guidance and cost phasing [79] - The company saw some phasing in cloud service credits and project rollouts, but remains confident in its full-year outlook [80] Question: Impact of AI and technology on growth and profitability [106] - The company is leveraging AI to enhance products and drive innovation, with new products like Alpha Odds showing promising results [108][60] Question: U.S. regulatory environment and its impact on the business [120] - The company sees no negative impact from the current U.S. regulatory environment and is confident in its ability to navigate changes [121] Question: Pricing strategy for NBA contracts [130] - The company focuses on creating value through innovative solutions rather than overstretching pricing, with revenue share being the core model in the U.S. [131] Question: Expansion in Brazil [149] - The company is actively investing in the Brazilian market, which is expected to grow significantly in the coming years [136][151]
Sportradar AG(SRAD) - 2023 Q4 - Earnings Call Transcript
2024-03-20 15:32
Sportradar Group AG (NASDAQ:SRAD) Q4 2023 Results Conference Call March 20, 2024 8:30 AM ET Company Participants Jim Bombassei - Senior Vice President, Investor Relations & Corporate Finance Carsten Koerl - Chief Executive Officer Gerard Griffin - Chief Financial Officer Conference Call Participants Michael Graham - Canaccord Ryan Sigdahl - Craig-Hallum Capital Group Bernie McTernan - Needham & Company Robin Farley - UBS David Katz - Jefferies Jordan Bender - Citizens JMP David Karnovsky - JPMorgan Stephen ...
Sportradar AG(SRAD) - 2023 Q4 - Annual Report
2024-03-20 12:06
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECT ...
Sportradar AG(SRAD) - 2024 Q1 - Quarterly Report
2024-03-20 11:10
Exhibit 99.1 SPORTRADAR REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS Delivered record results, growing revenue 20% and Adjusted EBITDA 33% for fiscal 2023 Targeting strong outlook in 2024 of at least 20% growth in revenue and Adjusted EBITDA Authorizes $200 million Share Repurchase Program ST. GALLEN, Switzerland, March 20, 2024 – Sportradar Group AG (NASDAQ: SRAD) ("Sportradar" or the "Company"), a leading global sports technology Company focused on creating immersive experiences for sports fans and b ...
Sportradar AG(SRAD) - 2023 Q3 - Earnings Call Transcript
2023-11-01 17:52
Sportradar Group AG (NASDAQ:SRAD) Q3 2023 Earnings Conference Call November 1, 2023 8:00 AM ET Company Participants Christin Armacost - Manager of IR Carsten Koerl - CEO Gerard Griffin - CFO Conference Call Participants Ryan Sigdahl - Craig-Hallum Capital Group Robin Farley - UBS David Karnovsky - JPMorgan Michael Graham - Canaccord Genuity Jason Bazinet - Citi Stephen Grambling - Morgan Stanley Jordan Bender - JMP Securities Stefanos Christ - Needham and Company Shaun Kelley - Bank of America David Katz - ...
Sportradar AG(SRAD) - 2023 Q3 - Quarterly Report
2023-11-01 11:20
Exhibit 99.1 SPORTRADAR REPORTS THIRD QUARTER 2023 RESULTS Delivered 12% revenue, 38% Adjusted EBITDA growth for the third quarter Annual outlook updated with growth of 19% to 21% for revenue and 29% to 33% for Adjusted EBITDA Initiated a reduction in global workforce as part of ongoing strategic growth initiatives Well positioned for revenue growth and margin expansion ST. GALLEN, Switzerland, November 1, 2023 – Sportradar Group AG (NASDAQ: SRAD) ("Sportradar" or the "Company"), a leading global sports tec ...
Sportradar AG(SRAD) - 2023 Q2 - Earnings Call Presentation
2023-08-09 17:40
DISCLAIMER We report under International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). We maintain our financial books and records and publish our consolidated financial statements in Euros, which is our functional and reporting currency. There are important differences between IFRS and United States Generally Accepted Accounting Principles ("US GAAP"). This presentation also contains certain supplemental financial measures and other operating met ...
Sportradar AG(SRAD) - 2023 Q2 - Earnings Call Transcript
2023-08-09 14:56
Sportradar Group AG (NASDAQ:SRAD) Q2 2023 Earnings Conference Call August 9, 2023 8:00 AM ET Company Participants Rima Hyder – Senior Vice President of Investor Relations Carsten Koerl – Chief Executive Officer Gerard Griffin – Chief Financial Officer Conference Call Participants Ryan Sigdahl – Craig-Hallum Capital Group Bernie McTernan – Needham and Company David Karnovsky – J.P. Morgan David Katz – Jefferies Operator Good day, and thank you for standing by, and welcome to the Sportradar's Second Quarter 2 ...