Financial Data and Key Metrics Changes - Total company revenue for 2025 reached $1.3 billion, an increase of $183 million or 17% compared to 2024, driven by higher uptake from existing partners and strong U.S. market growth [21][22] - Adjusted EBITDA for the year was $297 million, up $74 million or 33% year-over-year, with Adjusted EBITDA margins increasing by over 290 basis points to 23% [22][26] - Q4 revenue was $369 million, a 20% increase year-over-year, with Adjusted EBITDA of $89 million, reflecting a 48% year-on-year growth [22][26] Business Line Data and Key Metrics Changes - Betting technology and solutions revenue was $305 million in Q4, growing 24% year-over-year, primarily driven by a 29% increase in betting and gaming content [23][24] - Managed betting services grew 5% in Q4, supported by sustained momentum in managed trading services [24] - Marketing and media services revenue increased by 13% year-over-year, reflecting strong demand for technology and media solutions [25] Market Data and Key Metrics Changes - U.S. revenue grew 23% year-over-year, now accounting for 25% of total revenue, while the rest of the world saw a 15% increase [21][22] - The company streamed over 525,000 matches in 2025, with expectations to exceed 700,000 matches in 2026 [12] Company Strategy and Development Direction - The company aims to leverage the IMG acquisition to unlock significant revenue synergies, targeting a 25% revenue synergy realization by 2026 [9][41] - Focus on expanding managed trading services and enhancing product offerings through innovative technology, including AI-driven solutions [12][15] - The company is exploring opportunities in prediction markets, emphasizing player protection and integrity in partnerships with leagues [16][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong momentum and growth in 2026, anticipating revenue growth of 23%-25% on a constant currency basis [34][35] - The upcoming FIFA World Cup is seen as a significant opportunity for the betting industry, with expected turnover exceeding $35 billion [17] - Management highlighted the importance of integrating IMG content and expanding customer engagement through innovative products [9][12] Other Important Information - The company has increased its share repurchase authorization from $300 million to $1 billion, reflecting confidence in its fundamental business strength [8][33] - Free cash flow for 2025 was $167 million, with a conversion rate of 56%, up from $118 million and 53% in 2024 [32] Q&A Session Summary Question: Contribution of IMG to financial targets - Management indicated that IMG is contributing positively, with revenue synergies trending ahead of expectations [41] Question: Next steps for prediction markets - Management emphasized the importance of player protection and integrity, with ongoing discussions to supply official data once safeguards are in place [45] Question: Guidance for 2026 amidst market changes - Management confirmed no significant changes to guidance, with the only adjustment being the impact of a weaker U.S. dollar [56] Question: iGaming growth strategy - The company is focusing on connecting live betting with iGaming opportunities, particularly in Brazil [59] Question: Impact of potential MLB lockout - Management expressed confidence in having replacement content to mitigate any potential impact from an MLB lockout [89]

Financial Data and Key Metrics Changes - Total company revenue for 2025 was $1.3 billion, an increase of $183 million or 17% compared to 2024, driven by higher uptake from existing partners and strong U.S. market growth [21] - Adjusted EBITDA for the full year was $297 million, up $74 million or 33% year-over-year, with Adjusted EBITDA margins increasing by over 290 basis points to 23% [22] - Free cash flow for the full year was $167 million, with a conversion rate of 56%, compared to $118 million and 53% in 2024 [32] Business Line Data and Key Metrics Changes - Betting technology and solutions revenue was $305 million, growing 24% year-over-year, driven by a 29% increase in betting and gaming content [23] - Managed betting services grew 5% in Q4, led by sustained momentum in managed trading services [24] - Marketing and media services revenue increased by 13%, reflecting strong demand from technology and media companies [25] Market Data and Key Metrics Changes - U.S. revenue grew 23% year-on-year, now accounting for 25% of total revenue, while the rest of the world saw a 15% increase [21] - The company streamed over 525,000 matches in the previous year, with an expectation to stream over 700,000 matches in 2026 [12] Company Strategy and Development Direction - The company completed the acquisition of IMG, which is expected to unlock significant revenue synergies of 25% in 2026 [9] - The focus is on leveraging IMG's content across a larger customer base and broader product suite to realize revenue synergies [17] - The company is positioned to capitalize on emerging opportunities in prediction markets, with ongoing discussions with major leagues [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong momentum and growth in 2026, anticipating revenue growth of 23%-25% on a constant currency basis [34] - The upcoming FIFA World Cup is seen as a significant opportunity for the betting industry, with expected turnover exceeding $35 billion [17] - Management highlighted the importance of player protection and integrity in developing prediction markets [45] Other Important Information - The board approved an increase in the share repurchase program from $300 million to $1 billion, with $170 million already purchased [33] - The company is focused on maintaining a strong liquidity position, closing the quarter with $365 million in cash and no debt [31] Q&A Session Summary Question: Contribution of IMG to financial targets - Management indicated that IMG is contributing positively, with revenue synergies trending ahead of targets [41] Question: Next steps for prediction markets - Management emphasized the importance of player protection and integrity, with ongoing discussions to supply official data [45] Question: Guidance for 2026 and impact of currency fluctuations - Management confirmed no significant changes to guidance, with currency fluctuations being the main factor affecting reported numbers [56] Question: iGaming growth strategy - The company is focusing on connecting live betting with iGaming opportunities, particularly in Brazil [59] Question: Impact of potential MLB lockout - Management stated that they have good replacement content and contract provisions in place to mitigate any impact [89]

Financial Data and Key Metrics Changes - Total company revenue for 2025 was $1.3 billion, an increase of $183 million or 17% compared to 2024, driven by higher uptake from existing partners and strong U.S. market growth [19] - Adjusted EBITDA for the full year was $297 million, up $74 million or 33% year-over-year, with Adjusted EBITDA margins increasing by over 290 basis points to 23% [20] - Free cash flow for the full year was $167 million, with a conversion rate of 56%, compared to $118 million and 53% in 2024 [30] Business Line Data and Key Metrics Changes - Revenue from betting technology and solutions was $305 million, growing 24% year-over-year, driven by a 29% increase in betting and gaming content [22] - Managed betting services grew 5% in Q4, led by sustained momentum in managed trading services [23] - Marketing and media services revenue increased by 13%, primarily from increased uptake from technology and media companies [24] Market Data and Key Metrics Changes - U.S. revenue grew 23% year-on-year, now accounting for 25% of total revenue, while the rest of the world saw a 15% increase [19] - The company streamed over 525,000 matches in 2025, with an expectation to stream over 700,000 matches in 2026 [10] Company Strategy and Development Direction - The company completed the acquisition of IMG, which is expected to unlock significant revenue synergies of 25% in 2026 [7] - The focus is on leveraging IMG's content across a larger customer base and broader product suite to realize revenue synergies [16] - The company is exploring opportunities in prediction markets, aiming to monetize this rapidly developing sector [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong momentum in 2026, anticipating revenue growth of 23%-25% on a constant currency basis [32] - The upcoming FIFA World Cup is seen as a significant opportunity for the betting industry, with expected turnover exceeding $35 billion [16] - Management highlighted the importance of player protection and integrity in developing partnerships in prediction markets [42] Other Important Information - The board approved an increase in the share repurchase program from $300 million to $1 billion, with $170 million already purchased [31] - The company is focused on maintaining a strong liquidity position, closing the quarter with $365 million in cash and no debt [29] Q&A Session Summary Question: Contribution of IMG to financial targets - Management indicated that IMG is trending ahead of financial targets, with strong synergy realization and a focus on revenue synergies [38] Question: Next steps for prediction markets - Management emphasized the importance of player protection and integrity, with ongoing discussions to supply official data once frameworks are established [42] Question: Guidance for 2026 and impact of currency fluctuations - Management confirmed that guidance remains unchanged, with the only adjustment being the impact of a weaker U.S. dollar [53] Question: iGaming opportunities - The company is focusing on connecting live betting with iGaming, particularly in Brazil, as a significant growth opportunity [56] Question: Impact of potential MLB lockout - Management stated that they have good replacement content and contract provisions in place to mitigate any impact from a potential MLB lockout [86]

Financial Data and Key Metrics Changes - Sportradar achieved record Q3 revenues of EUR 292 million, representing a 14% increase year-over-year, driven by higher uptake from existing partners and strong US market growth [5][21] - Adjusted EBITDA grew by 29% year-over-year to EUR 85 million, with an adjusted EBITDA margin expanding over 300 basis points to a record 29% [5][26] - Free cash flow for the year reached EUR 149 million, with a conversion rate of 72% [5][32] Business Line Data and Key Metrics Changes - Betting technology and solutions revenue was EUR 233 million, growing 11% year-over-year, primarily due to a 19% increase in managed betting services [21][23] - Sports content technology and services revenue increased by 31% year-on-year to EUR 59 million, led by marketing and media services [24] - Integrity Services saw contributions more than double due to increased uptake from league partners [24] Market Data and Key Metrics Changes - US revenue grew by 21%, while revenue from the rest of the world increased by 13% [25] - In Q3, US revenues accounted for 23% of the total revenue mix, reflecting the seasonal impact of the NBA and NHL off-seasons [25] Company Strategy and Development Direction - The acquisition of IMG ARENA is expected to enhance Sportradar's competitive position and drive future growth, with a focus on integrating and monetizing new rights [6][8] - The company aims to capitalize on the rapid expansion of the global sports betting market by enhancing its product offerings and client relationships [6][19] - Sportradar is focused on innovation, particularly in personalized and interactive experiences for fans, leveraging AI technology for product development [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth strategy and the significant opportunities ahead, particularly with the integration of IMG ARENA [19][35] - The company anticipates strong free cash flow growth for the full year and has raised its full-year guidance to at least EUR 1.29 billion in revenue, representing a year-over-year growth of at least 17% [33][34] - Management noted that while the acquisition of IMG ARENA will contribute to growth, the majority of meaningful revenue and cost synergies will be recognized in 2026 [34] Other Important Information - The company has authorized an increase in its share repurchase program by $100 million, bringing the total to $300 million [6][32] - Sportradar's strong liquidity position is highlighted by $360 million in cash and cash equivalents with no debt outstanding [31] Q&A Session Summary Question: Clarification on full year 2025 EBITDA raise - Management indicated that the majority of the revenue increase relates to the inclusion of IMG Arena, while the EBITDA increase is primarily from the existing business [40][41] Question: Update on client conversations regarding IMG - Management stated that discussions with existing clients have begun post-acquisition, with optimism about integrating new rights into their offerings [46][48] Question: Impact of Integrity Services on negotiations with leagues - Management confirmed that Integrity Services is a strong enabler for expanding their betting services, enhancing their value proposition to leagues [55][56] Question: iGaming opportunities for Sportradar - Management discussed ongoing tests in Brazil and the potential for integrating iGaming into their portfolio, emphasizing a holistic approach to client acquisition [61][62] Question: Update on prediction markets and stakeholder engagement - Management highlighted ongoing discussions with leagues and regulators about prediction markets, emphasizing the need for a clear regulatory framework [67][70]