ST. GALLEN, Switzerland, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Sportradar Group AG (NASDAQ:SRAD) ("Sportradar" or the "Company"), a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, today announced that Craig Felenstein, the Company's Chief Financial Officer, will participate in Canaccord Genuity's 44th Annual Growth Conference on Wednesday August 14, 2024. The fireside chat will take place at 1:30 pm eastern time and will be webcast live at investor ...

Company Overview - Sportradar Group AG is a leading global sports technology company founded in 2001, providing solutions for sports federations, media, consumer platforms, and betting operators [1] - The company covers close to a million events annually across all major sports and has partnerships with organizations like ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA, and Bundesliga [1] - Sportradar also focuses on safeguarding sports through its Integrity Services division, promoting an integrity-driven environment [1] Upcoming Financial Results - Sportradar will release its financial and operating results for the second quarter ended June 30, 2024, on August 13, 2024 [2] - An earnings call via webcast will be hosted at 8:30 am Eastern time on the same day to discuss the results [2] Investor Relations - Interested parties can access the earnings webcast through Sportradar's Investor Relations website, with a replay available for one year after the event [3]

Core Insights - Sportradar Group AG will release its financial and operating results for Q2 2024 on August 13, 2024, and will host an earnings call at 8:30 am Eastern time on the same day [1]. Company Overview - Sportradar Group AG, founded in 2001, is a leading global sports technology company that creates immersive experiences for sports fans and bettors [4]. - The company operates at the intersection of sports, media, and betting industries, providing a range of solutions to sports federations, news media, consumer platforms, and sports betting operators [4]. - Sportradar covers nearly one million events annually across all major sports and has partnerships with organizations such as ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA, and Bundesliga [4]. - The company also emphasizes safeguarding sports through its Integrity Services division, advocating for an integrity-driven environment [4].

UEFA and Sportradar will also extend their long-standing integrity partnership of 15 years. To support UEFA's Anti Match-Fixing Unit, the cooperation includes dedicated intelligence and investigation resources, robust and systematic bet monitoring, and education services to support the prevention, detection and investigation of match-fixing. For more information about Sportradar, please visit www.sportradar.com The agreement covers all UEFA Club and National team competitions. These include the UEFA Champio ...

Notable client wins in South America and Africa highlight growth ST. GALLEN, Switzerland, July 01, 2024 (GLOBE NEWSWIRE) -- Sportradar has significantly grown its Managed Trading Services (MTS) clientele in the first half of 2024, welcoming 44 new sportsbook operators to leverage its versatile and advanced operational capabilities. MTS provides operators with access to Alpha Odds, its AI-driven personalised odds technology. 16 of this year's new MTS client intake have set-up their betting offerings using Al ...

Sportradar's Managed Trading Services See Significant Global Adoption in H1 2024 MTS offers operators a customisable sportsbook management solution, enabling them to decide the extent of their in-house management or opt for external support. The solution enhances trading efficiency through AI and automation, facilitating real-time price adjustments and robust risk management. Year-to-date, Sportradar has processed more than 3.5 billion betting tickets via MTS for more than 200 clients, positioning the compa ...

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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 ...

Financial Highlights - The company achieved a record quarterly revenue of €266 million, a 28% year-over-year increase[32] - Adjusted EBITDA grew by 29% year-over-year[54] - The Adjusted EBITDA margin was 18%[75] - The company is raising its full year 2024 outlook[3] Segment Performance - Betting Technology & Solutions revenue increased by 35%[36] - Streaming & Betting Engagement grew by 46%[33] - Live Data and Odds grew by 29%[33] - Managed Betting Services grew by 32%[33] - Sports Content, Technology & Services revenue increased by 5%[92] Expense Analysis - Sport rights costs increased by 78% to €91 million, driven by new ATP and NBA partnership deals[118] - Purchased Services and Licenses, excluding expensed sport rights, grew 14% year-over-year[99] Strategic Initiatives - The company commenced purchases under the previously authorized $200 million share repurchase program[5] - The company updated its segment reporting and new revenue groups[29]

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]