Sportradar Group Ag Stock Price, News & Analysis

Sportradar (NASDAQ: SRAD) is revolutionizing the betting industry with the expansion of micro markets, set to launch for ATP tennis matches in October 2024. This innovative in-play betting product, developed in partnership with Tennis Data Innovations (TDI), will offer eight distinct micro markets generating approximately 1,500 new betting opportunities per match.

Leveraging advanced AI and deep tennis data, Sportradar's solution processes hundreds of thousands of data points per match, offering unique betting options such as predicting the next breakpoint, serve outcomes, and point details. The company plans to extend micro markets to American football, baseball, basketball, and ice hockey in the first half of 2025, further diversifying its portfolio and creating new revenue streams for operators.

Sportradar Group AG (NASDAQ: SRAD), a leading global sports technology company, has announced its participation in four major investor conferences in September 2024. The company, which focuses on creating immersive experiences for sports fans and bettors, will be present at:

• Benchmark's Tech, Media & Telecom Conference on September 4
• BofA's Gaming and Lodging Conference on September 5
• Citi's Global TMT Conference on September 6
• BTIG Digital GameDay on September 10

Sportradar will host investor meetings during these conferences, providing an opportunity for the company to engage with potential investors and showcase its innovative sports technology solutions.

Sportradar Group (NASDAQ: SRAD) reported Q2 2024 results with a record revenue of €278.4 million, up 29% YoY.

Betting Technology & Solutions contributed €229.1 million, a 30% increase, while Sports Content, Technology & Services added €49.3 million, up 22%. The U.S. market showed significant growth with revenue up 59%. Adjusted EBITDA rose to €48.8 million, up 22% YoY.

The company raised its 2024 outlook, now expecting a 22% increase in revenue and Adjusted EBITDA. Despite generating strong cash flows of €152.6 million YTD, Sportradar reported a net loss of (€1.5 million) for the quarter.

They repurchased 748,000 shares worth $8.0 million and have ample liquidity of €542.2 million.

Key operational highlights include expanding the UEFA partnership and launching innovative advertising channels.

Sportradar Group AG (NASDAQ: SRAD), a leading global sports technology company, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The event is scheduled for Wednesday, August 14, 2024, featuring a fireside chat with Craig Felenstein, Sportradar's Chief Financial Officer.

The fireside chat will begin at 1:30 pm Eastern Time and will be accessible via live webcast on the company's investor relations website at investors.sportradar.com. This participation provides an opportunity for investors and analysts to gain insights into Sportradar's business strategies and financial performance directly from the company's CFO.

Sportradar Group AG (NASDAQ: SRAD) has announced it will release its financial and operational results for the second quarter ended June 30, 2024, on Tuesday, August 13, 2024. The company will host an earnings call via webcast at 8:30 am Eastern time on the same day to discuss the results.

Interested parties can access the webcast through Sportradar's Investor Relations website. A replay of the event will be available on the website for one year following the call. This announcement provides investors and analysts with a scheduled opportunity to review Sportradar's performance and engage with management about the company's financial health and future prospects.

Sportradar Group AG (NASDAQ: SRAD) and UEFA have extended their exclusive betting data rights agreement, adding non-exclusive rights for media distribution. This multi-year deal covers major UEFA events like the Champions League, Europa League, and Women's EURO 2025, increasing match coverage to 900 per season—a 33% rise. The agreement also enhances Sportradar's AI-driven products. Furthermore, their 15-year integrity partnership will continue, providing UEFA with advanced bet monitoring and match-fixing prevention tools. This collaboration aims to deliver unparalleled engagement and technological innovations for bettors and fans.

Sportradar has significantly expanded its Managed Trading Services (MTS) in H1 2024, adding 44 new sportsbook operators to its client base. MTS offers customizable sportsbook management solutions, enhancing trading efficiency through AI and automation, with real-time price adjustments and robust risk management. The company processed over 3.5 billion betting tickets for 200 clients, positioning itself as a global leader in liquidity among top bookmakers.

The adoption is particularly strong in South America, with 11 new operators in Brazil, and significant client wins in Colombia, Ecuador, and Mexico. In Africa, Sportradar added 13 new operators, increasing its client base to 35 in the region. MTS's global appeal is further evidenced by traction in APAC, Europe, and the U.S. Notably, 16 new clients have implemented Alpha Odds, an AI-driven personalized odds technology that boosted profits by 10% on average.

Michael Gandolfo, EVP Global Sales, highlighted the importance of MTS in helping operators reduce time to market and establish unique offerings in a competitive landscape.

Sportradar Group AG (NASDAQ: SRAD) reported Q1 2024 financial results with record revenue of €265.9 million, a 28% increase YoY. The company saw a 29% rise in adjusted EBITDA to €47.2 million. Key revenue drivers included a 35% growth in Betting Technology & Solutions and a 5% rise in Sports Content, Technology & Services. Geographically, U.S. revenue surged 65%, while Rest of World grew 19%. Despite this, the company posted a loss of €0.6 million compared to a €6.8 million profit in Q1 2023. Sportradar raised its FY 2024 outlook, forecasting a 21% YoY growth in both revenue and adjusted EBITDA. New leadership appointments and a $200 million share repurchase program were also announced.

Sportradar's Alpha Odds, powered by cutting-edge AI technology, increased profits for sportsbook operators by an average of 15% during the UEFA Euro 2024 Qualifying Matches. The product leverages advanced AI to predict game events accurately, allowing operators to manage risk more effectively and generate bespoke betting prices. With the upcoming UEFA Euro 2024 expected to bring in over €62.2 billion in global betting turnover, operators can maximize profits by utilizing Alpha Odds.