Sportradar Q3 revenue rises 24% to €363M
U.S. revenue grew 47%; a US$170 million Atrium Sports divestiture agreement was expected to close in Q4 2026, subject to customary conditions.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Sportradar Group AG (SRAD) reported third-quarter 2026 revenue of €362.515 million, up 24% year over year. Betting Technology & Solutions revenue rose 27% to €296.675 million, with Betting & Gaming Content up 37%; Sports Content, Technology & Services increased 11% to €65.840 million. U.S. revenue grew 47% to €97.999 million. Profit was €27.028 million, up 20%, and Adjusted EBITDA, a non-IFRS measure, increased 21% to €102.193 million.
For the nine months ended September 30, revenue was €1,086.848 million, up 18%, while profit was €17.224 million versus €95.922 million in the prior-year period. Free cash flow was €176.630 million, up 18%. Cash and cash equivalents were €190.143 million as of September 30, 2026. Sportradar agreed to sell its Atrium Sports business to Teamworks Innovations for US$170 million; closing was expected in the fourth quarter of 2026, subject to customary closing conditions. By October 30, 2026, the company had repurchased 34 million shares for US$519 million under its plan since inception.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThird-quarter revenue rose 24% to €362.515 million.
- Moderate pointThird-quarter profit increased 20% to €27.028 million.
- Moderate pointAdjusted EBITDA increased 21% to €102.193 million.
Negative
- Moderate pointNine-month profit was €17.224 million, compared with €95.922 million a year earlier.
Filing Explained
Sportradar furnished its third-quarter results on Form 6-K; the release’s IFRS statements become part of its Form S-8 and F-3 registration statements from
Key Figures
Key Terms
Adjusted EBITDA financial
Free cash flow financial
Contract assets financial
Capitalized sport rights financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was SRAD's third-quarter 2026 revenue?
What is the status of Sportradar's Atrium Sports sale?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2026
Commission File Number: 001-40799
SPORTRADAR GROUP AG
(Translation of registrant’s name into English)
Feldlistrasse 2
CH-9000 St. Gallen
Switzerland
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
EXPLANATORY NOTE
On November 3, 2026, Sportradar Group AG (the “Company”) issued a press release reporting its third quarter 2026 financial results.
A copy of the press release is furnished as Exhibit 99.1 herewith. The IFRS financial information contained in the (i) consolidated statements of profit or loss and other comprehensive income, (ii) consolidated statements of financial position, and (iii) consolidated statements of cash flows included in the press release attached as Exhibit 99.1 hereto is hereby incorporated by reference into the Company’s Registration Statements on Form S-8 (File No. 333-259885) and Form F-3 (File No. 333-286679), including any prospectuses forming a part of such Registration Statements, and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.
| Exhibit No. |
Description | |
| 99.1 | Press Release of Sportradar Group AG, dated November 3, 2026. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: November 3, 2026
| SPORTRADAR GROUP AG | ||
| By: | /s/ Craig Felenstein | |
| Name: | Craig Felenstein | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
SPORTRADAR REPORTS THIRD QUARTER 2026 FINANCIAL RESULTS
Third Quarter 2026 Highlights
| · | Revenue increased 24% to €363 million |
| · | Profit for the period increased 20% to €27 million, 7.5% as a percentage of revenue |
| · | Delivered a 21% increase in Adjusted EBITDA1 to €102 million and Adjusted EBITDA margin1 of 28.2% |
| · | Net cash from operating activities increased 37% to €157 million, Free cash flow1 increased 12% to €73 million |
| · | Repurchased US$157 million of shares during the quarter under the share repurchase plan |
| · | Announced agreement to divest Atrium Sports for US$170 million |
| · | Entered new and expanded partnerships with leading prediction market exchanges, brokers and market makers |
ST. GALLEN, Switzerland, November 3, 2026 – Sportradar Group AG (Nasdaq: SRAD) (“Sportradar” or the “Company”), a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, today announced financial results for its third quarter ended September 30, 2026.
Carsten Koerl, Chief Executive Officer of Sportradar, said: "Sportradar delivered another strong quarter of double-digit growth, once again demonstrating the value of our role as a key technology and content partner to the global sports ecosystem. Our performance was driven by strong demand for our premium content portfolio, deep data and innovative technology solutions, including further monetization of the acquired IMG ARENA rights and significant contributions from across the prediction markets landscape. Fans are engaging with sports across more platforms than ever before, expanding our addressable market and increasing demand for our products and solutions. As we capitalize on these new opportunities, further leveraging our existing portfolio, we remain focused on innovation and execution to drive additional value for our partners and clients and deliver durable growth and expanding profitability for our shareholders."
THIRD QUARTER 2026 RESULTS
Revenue
| Three-Month Period Ended September 30, | Nine-Month Period Ended September 30, | |||||||||||||||||||||||||||||||
| in € thousands (unaudited) | 2026 | 2025 | Change | % | 2026 | 2025 | Change | % | ||||||||||||||||||||||||
| Revenue by product | ||||||||||||||||||||||||||||||||
| Betting & Gaming Content | 241,976 | 176,471 | 65,505 | 37 | % | 728,674 | 569,857 | 158,817 | 28 | % | ||||||||||||||||||||||
| Managed Betting Services | 54,699 | 56,336 | (1,637 | ) | (3 | )% | 169,211 | 171,737 | (2,526 | ) | (1 | )% | ||||||||||||||||||||
| Betting Technology & Solutions | 296,675 | 232,807 | 63,868 | 27 | % | 897,885 | 741,594 | 156,291 | 21 | % | ||||||||||||||||||||||
| Marketing & Media Services | 50,744 | 43,957 | 6,787 | 15 | % | 140,610 | 131,559 | 9,051 | 7 | % | ||||||||||||||||||||||
| Sports Performance | 10,287 | 11,127 | (840 | ) | (8 | )% | 31,563 | 34,760 | (3,197 | ) | (9 | )% | ||||||||||||||||||||
| Integrity Services | 4,809 | 4,163 | 646 | 16 | % | 16,790 | 13,162 | 3,628 | 28 | % | ||||||||||||||||||||||
| Sports Content, Technology & Services | 65,840 | 59,247 | 6,593 | 11 | % | 188,963 | 179,481 | 9,482 | 5 | % | ||||||||||||||||||||||
| Total Revenue | 362,515 | 292,054 | 70,461 | 24 | % | 1,086,848 | 921,075 | 165,773 | 18 | % | ||||||||||||||||||||||
| Revenue by geography | ||||||||||||||||||||||||||||||||
| Rest of World | 264,516 | 225,452 | 39,064 | 17 | % | 797,623 | 680,405 | 117,218 | 17 | % | ||||||||||||||||||||||
| United States | 97,999 | 66,602 | 31,397 | 47 | % | 289,225 | 240,670 | 48,555 | 20 | % | ||||||||||||||||||||||
| Total Revenue | 362,515 | 292,054 | 1,086,848 | 921,075 | ||||||||||||||||||||||||||||
1
THIRD QUARTER 2026 FINANCIAL RESULTS
Revenue
Total revenue for the third quarter was €363 million, up €70 million, or 24% year-over-year, driven by 27% growth in Betting Technology & Solutions and 11% growth in Sports Content, Technology & Services.
Betting Technology & Solutions revenues of €297 million were up 27% year-over-year primarily driven by a 37% increase in Betting & Gaming Content reflecting contributions related to the acquisition of IMG ARENA and further uptake of the Company's products and services by existing and new customers, including prediction market participants. Revenue growth was partially offset by a 3% decline in Managed Betting Services as higher Managed Trading Services turnover was offset by lower trading margins due to unfavorable sport outcomes.
Sports Content, Technology & Services revenues of €66 million increased 11% year-over-year primarily driven by a 15% increase in Marketing & Media Services due to contributions from new and existing media and technology customers, as well as increased affiliate marketing spending from sportsbook and prediction market customers.
The Company generated strong revenue growth globally with the United States up 47% and Rest of World up 17%. As a percentage of total Company revenues, United States revenue represented 27% of total Company revenue in the third quarter as compared to 23% in the prior year quarter due to market expansion, including prediction market growth, and customer uptake of our premium content and solutions.
Profit for the period
Profit for the period was €27 million, up €5 million, or 20% compared to the same quarter a year ago, as the Company's strong operating results were partially offset by a €6 million foreign currency loss due to unrealized currency fluctuations mainly associated with U.S. dollar-denominated sports rights, €4 million higher financing costs due to additional sports rights, and severance costs related to cost efficiency initiatives.
Adjusted EBITDA
Third quarter Adjusted EBITDA was €102 million, up €18 million, or 21%, compared to €85 million in the same quarter in 2025. The increase was largely driven by the 24% revenue growth as well as lower adjusted personnel costs, partially offset primarily by the inclusion of costs related to IMG ARENA, most notably sport rights.
Business Highlights
| · | Expanded Sportradar's prediction markets partnership with Polymarket to more than 20 leagues and competitions, including the Bundesliga, Euroleague Basketball, and Tennis Grand Slams. | |
| · | Entered into agreements with prediction market makers and brokers, extending Sportradar’s reach across every layer of the prediction market sports ecosystem, further expanding our addressable market and diversifying our customer base. | |
| · | Extended Sportradar's exclusive global distribution of Euroleague Basketball official data and audiovisual betting rights through 2031, covering more than 650 games annually across the EuroLeague and BKT EuroCup competitions and strengthening Sportradar's position as the leading official data rights holder in basketball. |
Atrium Sports Divestiture
On October 7, 2026, Sportradar announced a definitive agreement to divest Atrium Sports, the Coaching & Scouting business of Synergy Sports, to Teamworks Innovations for US$170 million. The sale streamlines Sportradar’s business while retaining key capabilities that will support growth and innovation. The transaction is currently expected to close in the fourth quarter of 2026, subject to satisfaction of customary closing conditions.
Balance Sheet and Liquidity
The Company’s cash and cash equivalents were €190 million as of September 30, 2026, as compared with €365 million as of December 31, 2025. Net cash generated from operating activities for the nine-months ended September 30, 2026 of €383 million was partially offset by net cash used in investing activities of €203 million, primarily from payments related to sport rights licenses, and by net cash used in financing activities of €359 million. For the nine months ended September 30, 2026, financing activities included €352 million in share repurchases. Free cash flow for the nine-months ended September 30, 2026 was €177 million, an increase of €27 million, or 18%, from €149 million in the same period in 2025. Including its undrawn credit facility, the Company had total liquidity of €440 million as of September 30, 2026, as compared to €585 million as of December 31, 2025, and no debt outstanding.
1 Non-IFRS measure. See the sections captioned “Non-IFRS Financial Measures” and “IFRS to Non-IFRS reconciliations” for more details.
2
2026 Full Year Financial Outlook
Sportradar reiterated its fiscal 2026 outlook as follows:
| · | Revenue growth on a constant currency1 basis of 19% to 21%. When factoring in current foreign currency rates, revenues are expected to grow to a range of €1,518 to €1,533 million |
| · | Adjusted EBITDA growth on a constant currency basis of 24% to 27%. When factoring in current foreign currency rates, Adjusted EBITDA is expected to grow to a range of €360 to €368 million |
| · | Adjusted EBITDA margin expansion of approximately 70 to 100 basis points on a reported basis |
| · | Free cash flow conversion1 rate is expected to exceed the 2025 level of 56%, excluding the impact of non-routine litigation costs |
The 2026 guidance does not include any impact from the anticipated divestiture of Atrium Sports given the uncertainty of timing of closing. Guidance will be updated, if necessary, to incorporate the impact of the divestiture following the closing of the transaction.
Share Repurchase Plan
In March 2024, the Company's Board of Directors approved a US$200 million share repurchase plan. Subsequently, the Board of Directors approved a US$100 million increase to the plan in October 2025 and another US$700 million increase in February 2026, bringing the total authorized share repurchase plan to US$1 billion. Under this authorized plan, in April 2026, the Company announced it entered into an enhanced open market share repurchase program to purchase up to US$250 million of shares. The Company completed this enhanced open market program during the third quarter. As of October 30, 2026, the Company has repurchased 34 million shares for US$519 million under the plan since inception, including US$408 million in 2026.
Conference Call and Webcast Information
Sportradar will host a conference call to discuss the third quarter 2026 results today, November 3, 2026 at 8:30 a.m. Eastern Time. Those wishing to participate via webcast should access the earnings call through Sportradar’s Investor Relations website. An archived webcast with the accompanying slides will be available at the Company’s Investor Relations website for one year after the conclusion of the live event.
About Sportradar
Sportradar Group AG (Nasdaq: SRAD), founded in 2001, is a leading global sports technology company creating immersive experiences for sports fans and bettors. Positioned at the intersection of the sports media and betting/gaming industries, Sportradar provides betting and iGaming operators, media and technology companies, prediction market partners and sports federations with a best-in-class range of solutions to help grow their businesses. Trusted by the world’s leading global sports organizations including the ATP, NBA and WNBA, NHL, MLB, MLS, PGA TOUR, UEFA, FIFA, CONMEBOL, AFC, and the Bundesliga, and global clients including Flutter, DraftKings, Google, Microsoft, Kalshi and Polymarket, Sportradar covers more than a million events annually across all major sports. Sportradar is not just redefining the sports fan experience, it also safeguards sports through its Integrity Services division and advocacy for an integrity-driven environment for all involved.
For more information about Sportradar, please visit www.sportradar.com
CONTACT:
Investor Relations:
Jim Bombassei
j.bombassei@sportradar.com
Media:
Sandra Lee
sandra.lee@sportradar.com
1 Non-IFRS measure. See the sections captioned “Non-IFRS Financial Measures” and “IFRS to Non-IFRS reconciliations” for more details.
3
Non-IFRS Financial Measures
We have provided in this press release financial information that has not been prepared in accordance with IFRS, including Adjusted EBITDA, Adjusted EBITDA margin, Constant Currency metrics, Adjusted purchased services, Adjusted personnel expenses, Adjusted other operating expenses, Free cash flow, and Free cash flow conversion. We use these non-IFRS financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to IFRS measures, in evaluating our ongoing operational performance. We believe that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-IFRS financial measures to investors.
Non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS. Investors are encouraged to review the reconciliation of these non-IFRS financial measures to their most directly comparable IFRS financial measures provided in the financial statement tables included below in this press release.
| · | “Adjusted EBITDA” represents earnings for the period adjusted for finance income and finance costs, income tax expense or benefit, depreciation and amortization (excluding amortization of capitalized sport rights licenses), foreign currency gains or losses, and other items that are non-recurring or not related to the Company’s revenue-generating operations, including share-based compensation, restructuring costs, non-routine litigation costs, secondary offering costs, certain transaction-related costs and impairment charges. |
License fees relating to sport rights are a key component of how we generate revenue and one of our main operating expenses. Only licenses that meet the recognition criteria of IAS 38 are capitalized. The primary distinction for whether a license is capitalized or not capitalized is the contracted length of the applicable license. Therefore, the type of license we enter into can have a significant impact on our results of operations depending on whether we are able to capitalize the relevant license. As such, our presentation of Adjusted EBITDA reflects the full costs of our sport rights licenses. Management believes that, by including amortization of sport rights in its calculation of Adjusted EBITDA, the result is a financial metric that is both more meaningful and comparable for management and our investors while also being more indicative of our ongoing operating performance.
We present Adjusted EBITDA because management believes that some items excluded are non-recurring in nature and this information is relevant in evaluating the results relative to other entities that operate in the same industry. Management believes Adjusted EBITDA is useful to investors for evaluating Sportradar’s operating performance against competitors, which commonly disclose similar performance measures. However, Sportradar’s calculation of Adjusted EBITDA may not be comparable to other similarly titled performance measures of other companies. Adjusted EBITDA is not intended to be a substitute for any IFRS financial measure.
Items excluded from Adjusted EBITDA include significant components in understanding and assessing financial performance. Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation, or as an alternative to, or a substitute for, profit for the period, revenue or other financial statement data presented in our consolidated financial statements as indicators of financial performance. We compensate for these limitations by relying primarily on our IFRS results and using Adjusted EBITDA only as a supplemental measure.
| · | “Adjusted EBITDA margin” is the ratio of Adjusted EBITDA to revenue. |
The Company is unable to provide a reconciliation of Adjusted EBITDA to profit (loss) for the period, or Adjusted EBITDA margin to Profit (loss) for the period as a percentage of revenue (in each case, the most directly comparable IFRS financial measure) on a forward-looking basis without unreasonable effort because items that impact these IFRS financial measures are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, foreign exchange gains and losses. Such information may have a significant, and potentially unpredictable, impact on the Company’s future financial results.
4
| · | "Constant Currency" information compares results between periods as if exchange rates had remained constant. As the impact of exchange rate fluctuations can be highly variable, we believe these metrics, unaffected by exchange rate variability, provide meaningful insights to investors into our operational performance and underlying business trends. |
The Company is unable to provide a reconciliation of constant currency measures to their comparable IFRS measures on a forward-looking basis without unreasonable effort because future exchange-rate movements that impact these measures are not within the Company’s control and/or cannot be reasonably predicted. Such information may have a significant, and potentially unpredictable, impact on the Company’s future financial results.
We present Adjusted purchased services, Adjusted personnel expenses, and Adjusted other operating expenses (together, "Non-IFRS expenses") because management utilizes these financial measures to manage its business on a day-to-day basis and believes that they are the most relevant measures of expenses. Management believes these adjusted expense measures provide expanded insight to assess revenue and cost performance, in addition to the standard IFRS-based financial measures. Management believes these adjusted expense measures are useful to investors for evaluating Sportradar’s operating performance against competitors. However, Sportradar’s calculation of adjusted expense measures may not be comparable to other similarly titled performance measures of other companies. These adjusted expense measures are not intended to be a substitute for any IFRS financial measure.
| · | “Adjusted purchased services” represents purchased services less capitalized external development costs and certain transaction-related costs. |
| · | “Adjusted personnel expenses” represents personnel expenses less share-based compensation awarded to employees, restructuring costs, and capitalized personnel compensation. |
| · | “Adjusted other operating expenses” represents other operating expenses plus impairment loss on trade receivables, less non-routine litigation, share-based compensation awarded to third parties, secondary offering costs, certain transaction-related costs and impairment charges. |
We consider Free cash flow and Free cash flow conversion to be liquidity measures that provide useful information to management and investors about the amount of cash generated by the business after the purchase of property and equipment, the purchase of intangible assets and payment of lease liabilities, which can then be used, among other things, to invest in our business and make strategic acquisitions, as well as our ability to convert our earnings to cash. A limitation of the utility of Free cash flow and Free cash flow conversion as measures of liquidity is that they do not represent the total increase or decrease in our cash balance for the year.
| · | “Free cash flow” represents net cash from operating activities adjusted for payments for lease liabilities, acquisition of property and equipment, and acquisition of intangible assets. |
| · | “Free cash flow conversion” represents Free cash flow as a percentage of Adjusted EBITDA. |
The Company is unable to provide a reconciliation of Free cash flow to net cash from operating activities or Free cash flow conversion to net cash from operating activities as a percentage of profit (loss) for the period (in each case, the most directly comparable IFRS financial measure) on a forward-looking basis without unreasonable effort because items that impact these IFRS financial measures are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, changes in working capital, the timing of customer payments, the timing and amount of tax payments, and other items that are non-recurring or unusual. Such information may have a significant, and potentially unpredictable, impact on the Company’s future financial results.
5
Safe Harbor for Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking” statements and information within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events, including, without limitation, statements regarding future financial or operating performance, planned activities and objectives, anticipated growth resulting therefrom, market opportunities, strategies and other expectations, and our guidance and outlook, including expected performance for the full year 2026, as well as statements regarding our share repurchase plan and divestiture of Atrium Sports. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “projects”, “continue,” “contemplate,” “confident,” “possible” or similar words. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: economic downturns and political and market conditions beyond our control, including uncertainty and instability resulting from catastrophic events such as acts of war or terrorism and foreign exchange rate fluctuations; dependence on our strategic relationships with our sports league partners; effect of social responsibility concerns and public opinion on responsible gaming, gambling by minors, match-fixing or other illegal gambling schemes on our reputation; potential adverse changes in public and consumer tastes and preferences and industry trends; potential changes in competitive landscape, including new market entrants or disintermediation; potential inability to anticipate and adopt new technology and products; potential errors, failures or bugs in our products; inability to protect our systems and data from continually evolving cybersecurity risks, security breaches or other technological risks; potential interruptions and failures in our systems or infrastructure; our ability to comply with governmental laws, rules, regulations, and other legal obligations, related to data privacy, protection and security; ability to comply with the variety of unsettled and developing U.S. and foreign laws on sports betting; developing litigation and the unpredictability of restrictions and/or bans of sports prediction market operations in United States and other territories; risks associated with artificial intelligence and machine-learning technologies; failure to recruit, retain and develop qualified personnel; changes in the legal and regulatory status of real money gambling and betting legislation on us and our customers; the provisional ban of online betting in Brazil being approved to remain in effect; our inability to maintain or obtain regulatory compliance in the jurisdictions in which we conduct our business; our ability to obtain, maintain, protect, enforce and defend our intellectual property rights; our ability to obtain and maintain sufficient data rights from major sports leagues, including exclusive rights; our ability to successfully remediate any material weaknesses identified in our internal control over financial reporting; seasonality and volatility; difficulties in our ability to evaluate, complete and integrate acquisitions successfully; inability to secure additional financing in a timely manner, or at all, to meet our long-term future capital needs; publication of research reports, including by short sellers, or speculation in the press or the investment community, about us; and other risk factors set forth in the section titled “Risk Factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2025, and other documents filed with or furnished to the SEC, accessible on the SEC’s website at www.sec.gov and on our website at https://investors.sportradar.com. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. One should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
6
SPORTRADAR GROUP AG
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
(Unaudited)
| Three-Month Period Ended September 30, | Nine-Month Period Ended September 30, | |||||||||||||||
| in €'000, except share and per share data | 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue | 362,515 | 292,054 | 1,086,848 | 921,075 | ||||||||||||
| Personnel expenses | (93,451 | ) | (93,958 | ) | (308,984 | ) | (298,095 | ) | ||||||||
| Sport rights expenses (including amortization of capitalized sport rights licenses) | (111,724 | ) | (72,548 | ) | (371,769 | ) | (282,772 | ) | ||||||||
| Purchased services | (53,914 | ) | (46,080 | ) | (156,475 | ) | (143,193 | ) | ||||||||
| Other operating expenses | (31,820 | ) | (29,220 | ) | (97,933 | ) | (86,074 | ) | ||||||||
| Impairment loss on trade receivables, contract assets and other financial assets | (2,779 | ) | (543 | ) | (5,404 | ) | (3,875 | ) | ||||||||
| Internally-developed software cost capitalized | 11,542 | 13,282 | 26,719 | 37,172 | ||||||||||||
| Depreciation and amortization (excluding amortization of capitalized sport rights licenses) | (18,648 | ) | (16,338 | ) | (59,514 | ) | (49,787 | ) | ||||||||
| Foreign currency (loss) gain, net | (6,387 | ) | 341 | (24,794 | ) | 81,713 | ||||||||||
| Finance income | 1,991 | 2,531 | 7,597 | 7,153 | ||||||||||||
| Finance costs | (24,204 | ) | (20,375 | ) | (71,904 | ) | (63,369 | ) | ||||||||
| Net income before tax | 33,121 | 29,146 | 24,387 | 119,948 | ||||||||||||
| Income tax benefit (expense) | (6,093 | ) | (6,679 | ) | (7,163 | ) | (24,026 | ) | ||||||||
| Profit for the period | 27,028 | 22,467 | 17,224 | 95,922 | ||||||||||||
| Other comprehensive (loss) income | ||||||||||||||||
| Items that will not be reclassified subsequently to profit or (loss) | ||||||||||||||||
| Remeasurement of equity investments | 2 | — | (3,418 | ) | — | |||||||||||
| Remeasurement of defined benefit liability | (19 | ) | (2 | ) | (104 | ) | (8 | ) | ||||||||
| Related deferred tax (expense) benefit | — | (35 | ) | 799 | 2 | |||||||||||
| (17 | ) | (37 | ) | (2,723 | ) | (6 | ) | |||||||||
| Items that may be reclassified subsequently to profit or (loss) | ||||||||||||||||
| Foreign currency translation adjustment attributable to the owners of the company | 1,216 | (2,722 | ) | 4,669 | (19,394 | ) | ||||||||||
| Foreign currency translation adjustment attributable to non-controlling interests | — | — | — | (105 | ) | |||||||||||
| 1,216 | (2,722 | ) | 4,669 | (19,499 | ) | |||||||||||
| Other comprehensive income (loss) for the period, net of tax | 1,199 | (2,759 | ) | 1,946 | (19,505 | ) | ||||||||||
| Total comprehensive income (loss) for the period | 28,227 | 19,708 | 19,170 | 76,417 | ||||||||||||
| Profit (loss) attributable to: | ||||||||||||||||
| Owners of the Company | 27,028 | 22,468 | 17,225 | 95,921 | ||||||||||||
| Non-controlling interests | — | (1 | ) | (1 | ) | 1 | ||||||||||
| 27,028 | 22,467 | 17,224 | 95,922 | |||||||||||||
| Total comprehensive (loss) income attributable to: | ||||||||||||||||
| Owners of the Company | 28,227 | 19,709 | 19,171 | 76,521 | ||||||||||||
| Non-controlling interests | — | (1 | ) | (1 | ) | (104 | ) | |||||||||
| 28,227 | 19,708 | 19,170 | 76,417 | |||||||||||||
| Profit per Class A share attributable to owners of the Company | ||||||||||||||||
| Basic | 0.10 | 0.07 | 0.06 | 0.32 | ||||||||||||
| Diluted | 0.09 | 0.07 | 0.05 | 0.30 | ||||||||||||
| Profit per Class B share attributable to owners of the Company | ||||||||||||||||
| Basic | 0.01 | 0.01 | 0.01 | 0.03 | ||||||||||||
| Diluted | 0.01 | 0.01 | 0.01 | 0.03 | ||||||||||||
| Weighted-average number of shares | ||||||||||||||||
| Weighted-average number of Class A shares (basic) | 202,681 | 221,979 | 212,266 | 217,584 | ||||||||||||
| Weighted-average number of Class A shares (diluted) | 217,737 | 240,930 | 227,782 | 236,916 | ||||||||||||
| Weighted-average number of Class B shares (basic and diluted) | 783,671 | 783,671 | 783,671 | 829,995 | ||||||||||||
7
SPORTRADAR GROUP AG
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Unaudited)
| in €'000 | September 30, 2026 | December 31, 20251 | ||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | 190,143 | 365,295 | ||||||
| Trade receivables | 93,964 | 93,552 | ||||||
| Contract assets | 110,451 | 123,456 | ||||||
| Other assets and prepayments | 83,612 | 72,380 | ||||||
| Income tax receivables | 10,205 | 15,884 | ||||||
| Total current assets | 488,375 | 670,567 | ||||||
| Non-current assets | ||||||||
| Property and equipment | 73,202 | 79,343 | ||||||
| Intangible assets and goodwill | 1,904,455 | 2,022,314 | ||||||
| Other financial assets and other non-current assets | 63,421 | 60,479 | ||||||
| Deferred tax assets | 32,747 | 28,749 | ||||||
| Total non-current assets | 2,073,825 | 2,190,885 | ||||||
| Total assets | 2,562,200 | 2,861,452 | ||||||
| Liabilities and equity | ||||||||
| Current liabilities | ||||||||
| Loans and borrowings | 10,634 | 11,003 | ||||||
| Trade payables | 471,917 | 422,816 | ||||||
| Other liabilities | 55,158 | 92,507 | ||||||
| Contract liabilities | 67,046 | 35,195 | ||||||
| Income tax liabilities | 2,676 | 6,891 | ||||||
| Total current liabilities | 607,431 | 568,412 | ||||||
| Non-current liabilities | ||||||||
| Loans and borrowings | 48,565 | 51,842 | ||||||
| Trade payables | 1,171,383 | 1,204,402 | ||||||
| Contract liabilities | 32,328 | 38,024 | ||||||
| Other non-current liabilities | 3,935 | 3,842 | ||||||
| Deferred tax liabilities | 8,519 | 16,148 | ||||||
| Total non-current liabilities | 1,264,730 | 1,314,258 | ||||||
| Total liabilities | 1,872,161 | 1,882,670 | ||||||
| Equity | ||||||||
| Ordinary shares | 27,582 | 27,582 | ||||||
| Treasury shares | (365,846 | ) | (79,388 | ) | ||||
| Additional paid-in capital | 662,547 | 682,458 | ||||||
| Retained earnings | 358,169 | 342,488 | ||||||
| Other reserves | 7,586 | 5,640 | ||||||
| Equity attributable to owners of the Company | 690,038 | 978,780 | ||||||
| Non-controlling interest | 1 | 2 | ||||||
| Total equity | 690,039 | 978,782 | ||||||
| Total liabilities and equity | 2,562,200 | 2,861,452 | ||||||
1 - Certain prior-year balance sheet amounts have been adjusted to reflect measurement period adjustments, in accordance with IFRS 3, related to the acquisition of IMG Arena.
8
SPORTRADAR GROUP AG
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
| Nine-Month Period Ended September 30, | ||||||||
| in €'000 | 2026 | 2025 | ||||||
| OPERATING ACTIVITIES: | ||||||||
| Profit for the period | 17,224 | 95,922 | ||||||
| Adjustments to reconcile profit for the period to net cash provided by operating activities: | ||||||||
| Income tax expense | 7,163 | 24,026 | ||||||
| Interest income | (7,590 | ) | (7,153 | ) | ||||
| Interest expense | 70,780 | 63,165 | ||||||
| Foreign currency loss (gain), net | 24,794 | (81,713 | ) | |||||
| Depreciation and amortization (excluding amortization of capitalized sport rights licenses) | 59,514 | 49,787 | ||||||
| Amortization of capitalized sport rights licenses | 255,395 | 186,370 | ||||||
| Equity-settled share-based payments | 43,052 | 41,058 | ||||||
| Change in provision | (17,888 | ) | — | |||||
| Other | (14,136 | ) | 5,903 | |||||
| Cash flow from operating activities before working capital changes, interest and income taxes | 438,308 | 377,365 | ||||||
| Decrease in trade receivables, contract assets, other assets and prepayments, net | 6,724 | 2,821 | ||||||
| Increase in trade and other payables, contract and other liabilities, net | 21,703 | 2,627 | ||||||
| Changes in working capital | 28,427 | 5,448 | ||||||
| Interest paid | (70,512 | ) | (62,622 | ) | ||||
| Interest received | 3,616 | 7,153 | ||||||
| Income taxes paid, net | (16,778 | ) | (12,689 | ) | ||||
| Net cash from operating activities | 383,061 | 314,655 | ||||||
| INVESTING ACTIVITIES: | ||||||||
| Acquisition of intangible assets | (194,233 | ) | (156,332 | ) | ||||
| Acquisition of property and equipment | (6,339 | ) | (3,238 | ) | ||||
| Acquisition of subsidiaries, net of cash acquired | — | (6,942 | ) | |||||
| Proceeds from sale of intangible assets | 268 | 45 | ||||||
| Issuance of loans receivable | (3,500 | ) | — | |||||
| Change in loans receivable and deposits | 506 | 30 | ||||||
| Net cash used in investing activities | (203,298 | ) | (166,437 | ) | ||||
| FINANCING ACTIVITIES: | ||||||||
| Payment of lease liabilities | (5,859 | ) | (5,608 | ) | ||||
| Purchase of treasury shares | (352,224 | ) | (81,219 | ) | ||||
| Transaction costs related to borrowings | (1,261 | ) | — | |||||
| Acquisition of non-controlling interests | — | (15,000 | ) | |||||
| Other | — | (3 | ) | |||||
| Net cash used in financing activities | (359,344 | ) | (101,830 | ) | ||||
| Net decrease in cash | (179,581 | ) | 46,388 | |||||
| Cash and cash equivalents at beginning of period | 365,295 | 348,357 | ||||||
| Effects of movements in exchange rates | 4,429 | (34,362 | ) | |||||
| Cash and cash equivalents at end of period | 190,143 | 360,383 | ||||||
9
Additional disclosures related to sport rights expenses
The following table shows the composition of sport rights expenses (unaudited):
| Three-Month Period Ended September 30, | Nine-Month Period Ended September 30, | |||||||||||||||
| in €'000 | 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Non-capitalized sport rights expenses | 44,673 | 32,386 | 116,374 | 96,402 | ||||||||||||
| Amortization of capitalized sport rights | 67,051 | 40,162 | 255,395 | 186,370 | ||||||||||||
| Total sport rights expenses | 111,724 | 72,548 | 371,769 | 282,772 | ||||||||||||
IFRS to Non-IFRS Reconciliations
The following table reconciles Adjusted EBITDA to the most directly comparable IFRS financial performance measure, which is Profit for the period (unaudited), and Adjusted EBITDA margin to the most directly comparable IFRS financial performance measure, which is Profit for the period (unaudited) as a percentage of revenue:
| Three-Month Period Ended September 30, | Nine-Month Period Ended September 30, | |||||||||||||||
| in €'000 | 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue | 362,515 | 292,054 | 1,086,848 | 921,075 | ||||||||||||
| Profit for the period | 27,028 | 22,467 | 17,224 | 95,922 | ||||||||||||
| Finance income | (1,991 | ) | (2,531 | ) | (7,597 | ) | (7,153 | ) | ||||||||
| Finance costs | 24,204 | 20,375 | 71,904 | 63,369 | ||||||||||||
| Depreciation and amortization (excluding amortization of capitalized sport rights licenses) | 18,648 | 16,338 | 59,514 | 49,787 | ||||||||||||
| Foreign currency loss (gain), net | 6,387 | (341 | ) | 24,794 | (81,713 | ) | ||||||||||
| Share-based compensation | 11,481 | 13,714 | 44,175 | 42,785 | ||||||||||||
| Restructuring costs | 4,488 | — | 16,275 | 1,342 | ||||||||||||
| Non-routine litigation costs | 1,521 | 5,480 | 4,323 | 10,547 | ||||||||||||
| Transaction-related costs | 1,526 | 1,811 | 3,885 | 6,413 | ||||||||||||
| Secondary offering costs | — | 586 | — | 2,046 | ||||||||||||
| Impairment charges | 2,808 | — | 2,808 | — | ||||||||||||
| Income tax (benefit) expense | 6,093 | 6,679 | 7,163 | 24,026 | ||||||||||||
| Adjusted EBITDA | 102,193 | 84,578 | 244,468 | 207,371 | ||||||||||||
| Profit for the period as a percentage of revenue | 7.5 | % | 7.7 | % | 1.6 | % | 10.4 | % | ||||||||
| Adjusted EBITDA margin | 28.2 | % | 29.0 | % | 22.5 | % | 22.5 | % | ||||||||
10
The most directly comparable IFRS measure of Free cash flow is Net cash from operating activities, and the most directly comparable IFRS measure of Free cash flow conversion is Net cash from operating activities conversion, which is measured as Net cash from operating activities as a percentage of Profit for the period. Calculations for these measures are disclosed below (unaudited):
| Nine-Month Period Ended September 30, | ||||||||
| in €'000 | 2026 | 2025 | ||||||
| Net cash from operating activities | 383,061 | 314,655 | ||||||
| Acquisition of intangible assets | (194,233 | ) | (156,332 | ) | ||||
| Acquisition of property plant and equipment | (6,339 | ) | (3,238 | ) | ||||
| Payment of lease liabilities | (5,859 | ) | (5,608 | ) | ||||
| Free cash flow | 176,630 | 149,477 | ||||||
| Net cash from operating activities conversion | 2,224 | % | 328 | % | ||||
| Free cash flow conversion | 72 | % | 72 | % | ||||
The following tables show reconciliations of IFRS expenses included in Profit for the period to expenses included in Adjusted EBITDA (unaudited):
| Three-Month Period Ended September 30, | Nine-Month Period Ended September 30, | |||||||||||||||
| in €'000 | 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Purchased services | 53,914 | 46,080 | 156,475 | 143,193 | ||||||||||||
| Less: capitalized external services | (2,489 | ) | (4,574 | ) | (6,897 | ) | (14,304 | ) | ||||||||
| Less: transaction-related costs | (15 | ) | — | (52 | ) | — | ||||||||||
| Adjusted purchased services | 51,410 | 41,506 | 149,526 | 128,889 | ||||||||||||
| Personnel expenses | 93,451 | 93,958 | 308,984 | 298,095 | ||||||||||||
| Less: share-based compensation | (12,904 | ) | (14,617 | ) | (46,153 | ) | (45,037 | ) | ||||||||
| Less: restructuring costs | (4,488 | ) | — | (16,275 | ) | (1,342 | ) | |||||||||
| Less: capitalized personnel compensation | (7,804 | ) | (7,580 | ) | (17,036 | ) | (19,948 | ) | ||||||||
| Adjusted personnel expenses | 68,255 | 71,761 | 229,520 | 231,768 | ||||||||||||
| Other operating expenses | 31,820 | 29,220 | 97,933 | 86,074 | ||||||||||||
| Less: non-routine litigation | (1,521 | ) | (5,480 | ) | (4,323 | ) | (10,547 | ) | ||||||||
| Less: share-based compensation | 175 | (225 | ) | (807 | ) | (668 | ) | |||||||||
| Less: transaction-related costs | (1,512 | ) | (1,811 | ) | (3,834 | ) | (6,413 | ) | ||||||||
| Less: secondary offering costs | — | (586 | ) | — | (2,046 | ) | ||||||||||
| Less: impairment charges | (2,808 | ) | — | (2,808 | ) | — | ||||||||||
| Add: impairment loss on trade receivables | 2,779 | 543 | 5,404 | 3,875 | ||||||||||||
| Adjusted other operating expenses | 28,933 | 21,661 | 91,565 | 70,275 | ||||||||||||
11