Sportradar Group AG - SRAD STOCK NEWS

Sportradar Group AG (NASDAQ: SRAD) appoints Craig Felenstein as Chief Financial Officer, bringing nearly 30 years of experience in senior finance roles for US publicly listed companies. Felenstein will lead global finance, accounting, and investor relations functions, aiming to advance strategic initiatives and business growth. He joins from Lindblad Expeditions and will report directly to Sportradar CEO Carsten Koerl, based in New York.

Sportradar (NASDAQ: SRAD) partners with Oddin.gg to provide audiovisual streaming of exclusive esports content, aiming to tap into the €83 billion esports betting market. The deal enhances Oddin.gg's reach and offers Sportradar's betting operator clients a wider variety of live streamed esports events, boosting engagement and market opportunities.

Sportradar Group AG (SRAD) filed its annual report on Form 20-F for the fiscal year 2023 with the SEC. Shareholders can access the report online or request a paper copy for free. The Company's financial statements are audited and available for review.

Sportradar Group AG (SRAD) reports record results for fiscal 2023, with a 20% revenue growth and a 33% increase in Adjusted EBITDA. The company plans to target a 20% revenue growth in 2024 and has authorized a $200 million share repurchase program. Key highlights include revenue growth from Rest of World Betting and the U.S., improved profitability, and margin expansion.

Sportradar (SRAD) and the NBA partner to introduce advanced betting features in NBA League Pass, enhancing fan experience. The integration of emBET into the streaming service enables seamless access to sports betting content like point spreads and money lines, directing users to official betting partners FanDuel and DraftKings. This collaboration aims to revolutionize in-play betting and create personalized viewing experiences for NBA fans.

Sportradar Group AG (SRAD) will release its Q4 financial and operating results on March 20, 2024. An earnings call via webcast will discuss the results at 8:30 a.m. ET. Access the webcast on Sportradar's Investor Relations website.

Sportradar (NASDAQ: SRAD) has achieved PwC ISAE 3402 Type1 certification for its Alpha Odds automated odds recalculation tool, resulting in a 10% average profit increase for clients in 2023. The tool, leveraging advanced artificial intelligence capabilities, allows operators to generate bespoke betting prices and adjust them in real-time to maximize trading efficiency. The financial reconciliation aspect of Alpha Odds has been independently certified by auditors PwC, providing clients with visibility of key processes.

Sportradar Group AG (NASDAQ: SRAD) announced strategic actions to enhance focus on clients and partners, drive global innovation, and streamline its organizational structure. The new global organization and leadership structure aims to foster greater collaboration, faster decision making, and increased innovation across the business. The company reaffirmed its fiscal 2023 guidance and fiscal 2024 outlook, with revenue growth between 19% and 21% and Adjusted EBITDA growth between 29% and 33%. The new organizational structure consists of six business functions, with changes in key leadership positions. The company is also initiating a search for its next CFO.

Sportradar (NASDAQ: SRAD) has launched Sportradar FanID, a first-party marketing solution featuring the first data clean room for the sports industry. This unique solution combines the company’s proprietary marketing activation technology to offer personalized fan engagement for brands and rightsholders in a post-third-party cookie world. The anticipated removal of third-party cookies in 2024 is compelling marketers to find alternative methods for collecting and leveraging data to connect with consumers. Sportradar FanID benefits rightsholders by providing a greater understanding of fans’ interests and purchase intent, while enhancing the value they provide sponsors. For brands, it facilitates scalable, direct engagement with fans through personalized, timely, and relevant ads. The process includes data collection, connection, activation, and orchestration, allowing for relevant and personalized digital advertising content to be served on a one-to-one basis. Rainer Geier, EVP, Fan Engagement at Sportradar, highlighted the significant opportunity for rightsholders and brands to gain a greater understanding of fans and to enable more efficient and seamless delivery of digital advertising content.