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Sportradar Group AG announces developments as a sports technology company serving the sports, media and betting industries. The company provides sports data, content, odds, audiovisual products, managed betting services and integrity services to sports federations, media operators, consumer platforms and sports betting operators.
Recurring updates cover financial and operating results across Betting Technology & Solutions and Sports Content, Technology & Services, official data and in-play betting partnerships, iGaming initiatives including Playradar, and capital actions such as share repurchase programs. Company news also reflects completed portfolio additions such as ARENA and leadership updates across the organization.
Sportradar Group AG (NASDAQ:SRAD) will announce its third quarter financial and operating results on November 16, 2022, followed by an earnings call at 8:00 a.m. ET. The call will be accessible via Sportradar’s Investor Relations website.
As a leading global sports technology company, Sportradar provides solutions to sports federations and betting operators, covering over 890,000 events across 92 sports annually, and partners with major leagues like the NBA and FIFA.
Sportradar Group AG (NASDAQ: SRAD) reported a 23% increase in overall revenue to €177.2 million for Q2 2022, driven by a 66% surge in U.S. revenue, reaching €29.1 million. Despite these gains, Adjusted EBITDA decreased by 13% to €27.6 million, with a margin drop to 16%. The company upgraded its 2022 revenue outlook to €695-715 million, reflecting growth of 24% to 27% year-over-year. Cash and equivalents stood at €715.6 million, and net retention was strong at 115%. Notably, the CFO announced his departure, with Ulrich Harmuth appointed interim CFO.
Sportradar has launched Virtual NBA, a new AI-driven betting solution as part of its ongoing partnership with the NBA. This innovative platform offers gaming operators approximately 3,000 gaming opportunities daily, with each game featuring 12 betting markets. The system utilizes NBA data to create realistic basketball simulations, providing a rich experience for fans, even during the off-season. With a successful track record of virtual betting, Sportradar aims to enhance fan engagement and betting options globally across licensed jurisdictions.
Sportradar Group AG (NASDAQ:SRAD) will announce its financial results for the second quarter ending June 30, 2022, on August 17, 2022. The earnings call will take place at 8:00 a.m. ET the same day. Sportradar, a global leader in sports technology, serves over 1,700 customers in more than 120 countries, delivering insights and solutions across sports, media, and betting sectors. Established in 2001, the company covers over 890,000 events across 92 sports annually, enhancing fan engagement and safeguarding sports integrity.
Sportradar Group AG (NASDAQ:SRAD) is set to announce its financial and operational results for Q2 2022 on August 17, 2022. The release will be followed by a live webcast at 8:00 a.m. ET, allowing participants to engage in a Q&A session. Sportradar, established in 2001, is a premier sports technology firm offering innovative solutions for sports federations, media, and betting operators. The company serves over 1,700 clients globally and covers more than 890,000 events across 92 sports annually.
Sportradar (NASDAQ: SRAD) has appointed Eric Conrad as Managing Director, Strategic Partnerships & Content for North America. In this newly established role, he will oversee the US Sports Content and Partnerships team, which has secured significant partnerships with major leagues such as the NHL, NBA, and MLB. Conrad brings over 20 years of experience, having held key positions at Univision, ESPN, MLB, and the NBA. His role aims to enhance commercial returns and foster long-term partnerships during a period of rapid growth in the North American market.
Sportradar (NASDAQ:SRAD) has launched Virtual Cricket In-Play, marking the first in-play virtual-betting solution for cricket. Utilizing Sportradar’s extensive historical data, it offers fans a real-match experience. With around 2.5 billion cricket fans and an annual bet turnover of €80 billion, this innovation opens new business avenues for sportsbook operators. The product features hyper-real 3D graphics, enabling 56 live matches a season and over 10,000 betting opportunities. This launch further enriches Sportradar's diverse portfolio of virtual sports betting solutions.
Sportradar Group AG (NASDAQ: SRAD) reported a significant 31% increase in revenue for Q1 2022, totaling €167.9 million ($186.4 million), driven by a remarkable 124% growth in U.S. revenue to €25.7 million ($28.5 million). Adjusted EBITDA decreased by 5% to €26.7 million ($29.6 million), with a margin of 16%. However, adjusted free cash flow surged 100% to €12.9 million, yielding a conversion rate of 48%. Sportradar reiterated its fiscal 2022 outlook, projecting revenue growth of 18% to 25%.
Sportradar Group AG (NASDAQ:SRAD) will publish its financial results for the first quarter of fiscal 2022, ending March 31, 2022, on May 18, 2022. A conference call to discuss these results will occur at 8:00 a.m. ET the same day. Interested participants can join via Sportradar’s Investor Relations website or by dialing in. The company is recognized as a leading global sports technology firm, serving over 1,700 clients in more than 120 countries, and focuses on enhancing the sports experience while maintaining integrity in the industry.
Sportradar (NASDAQ: SRAD) has acquired Vaix Limited, a leader in AI solutions for the iGaming sector. This acquisition enhances Sportradar's Managed Trading Services (MTS) platform, enabling betting operators to provide personalized experiences to customers. With a history of partnering for over two years, Sportradar integrates Vaix's AI capabilities into its services, boosting user engagement. Although the acquisition's financial terms remain undisclosed, it is not anticipated to affect the company's 2022 financial outlook significantly.