Sportradar Group Ag Stock Price, News & Analysis

Sportradar Group AG (NASDAQ: SRAD) announced the appointment of Gerard Griffin as Chief Financial Officer, effective May 9, 2023. Griffin, previously at Zynga Inc., brings over 25 years of financial management experience within the gaming and technology sectors. He will oversee accounting, finance, and investor relations, directly reporting to CEO Carsten Koerl. Griffin's tenure at Zynga included improving revenues, profitability, and cash flow. He has also served at Electronic Arts and managed senior finance roles in other prominent companies. Koerl expressed confidence in Griffin's leadership to drive growth and profitability. Griffin emphasized his eagerness to contribute to Sportradar's success in the sports technology industry.

Sportradar Group AG (NASDAQ: SRAD) has announced the election of Rajani Ramanathan and William Kurtz as independent members of its Board of Directors during the annual general meeting on May 16, 2023, in St. Gallen, Switzerland. Ramanathan, an advisor to multiple tech companies, holds various board roles, including at ESI Group. She previously served as Chief Operating Officer at Salesforce. Kurtz brings over 30 years of experience as CFO and COO in tech firms and currently is on the boards of Aterian Inc. and Verint Systems. He is expected to chair the audit committee if elected. Chuck Robel, who has been on the board since September 2020 and chaired the audit committee, will not stand for re-election. Chairman Jeffery Yabuki expressed gratitude for Robel's service and optimism about the new candidates' contributions to Sportradar's growth.

Sportradar Group AG (NASDAQ: SRAD) will announce its financial results for Q1 2023 on May 10, 2023. The company, a leader in sports technology, specializes in B2B solutions for the global sports betting industry. An earnings call will be held on the same day at 8:00 a.m. EDT to discuss the results.

Sportradar has established itself as a key player in the sports industry, partnering with major organizations like the NBA, NHL, and FIFA. The company covers nearly one million events annually and is recognized for its Integrity Services division, which promotes fair play in sports.

Sportradar Group AG (NASDAQ: SRAD) has filed its annual report on Form 20-F for the fiscal year ended December 31, 2022, with the SEC on March 15, 2023. This report is accessible via the company's investor relations website and the SEC's website. Shareholders can request a free paper copy of the report containing audited financial statements. Founded in 2001, Sportradar is a leading global sports technology company, engaged in providing solutions for sports federations, news media, consumer platforms, and sports betting operators. The company maintains partnerships with major organizations like the NBA, FIFA, and NHL, offering services across nearly a million events annually.

Sportradar Group AG (NASDAQ: SRAD) reported a 30% increase in full year 2022 revenue, totaling €730.2 million, exceeding its annual outlook. Fourth quarter revenue rose 35% to €206.3 million, driven by a 77% growth in U.S. segment revenue and a positive Adjusted EBITDA for the second consecutive quarter. The company expects 2023 revenue growth of 24% to 26%, targeting €902.0 million to €920.0 million, and Adjusted EBITDA growth of 25% to 33%, aiming for €157.0 million to €167.0 million. Notable investments include AI technologies and new multi-year agreements with major sports organizations.

Sportradar, a subsidiary of Sportradar Group AG (NASDAQ: SRAD), has secured the global ATP data and betting streaming rights effective from 2024. This decision follows a rigorous RFP process led by Tennis Data Innovations (TDI), which began in January 2023 with five competing bidders. The contract spans six years and is expected to enhance Sportradar's innovative offerings, leveraging advanced technologies such as AI and computer vision for better engagement in tennis. The selection indicates TDI's belief in Sportradar's capabilities to support the growth of tennis and improve fan experiences through top-tier data products.