Press Releases
Sportradar Reports Fourth Quarter and Full Year 2023 Results
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 fourth quarter and year ended December 31, 2023.
Carsten Koerl, Chief Executive Officer of Sportradar, said: “2023 was another dynamic and successful year for the Company delivering our 3rd consecutive year of more than 20% revenue growth, improved profitability, and margin expansion. We are pleased with our growth momentum, fueled by our best-in-class content portfolio, innovative product roadmap and technology capabilities. For 2024, we plan to continue to scale our business globally, targeting at least 20% growth in revenue and adjusted EBITDA. Given our market leadership and confidence in the long-term profitability and cashflow outlook for the Company, we have authorized a $200 million share buyback program. We remain laser focused on disciplined execution of our growth strategy and delivering tremendous value for our clients and our shareholders.”
Full Year 2023 and Recent Highlights, Annual Outlook
- Revenue for the full year of 2023 increased 20% to €877.6 million compared with the prior year, driven by 20% growth from Rest of World Betting and 30% growth from the U.S. Full year revenue was at the upper end of the Company’s 2023 annual outlook range of €870.0 million to €880.0 million.
- Total profit from continuing operations for the full year 2023 was €34.6 million compared with €10.5 million for the prior year. Adjusted EBITDA1 for the full year of 2023 increased 33% to €166.8 million compared with the prior year and was at the upper end of the Company’s 2023 annual outlook range of €162.0 to €167.0 million.
- Total Profit from continuing operations, as a percentage of revenue, for the full year 2023 was 4% compared with 1% for the prior year. Adjusted EBITDA margin1 for 2023 increased over 177 bps to 19% compared to 2022, primarily driven by strong operating leverage from sport rights and personnel costs.
- Cash and cash equivalents grew to €277.2 million as of December 31, 2023, and total liquidity available for use on December 31, 2023, including undrawn credit facilities was €497.2 million.
- Authorized a $200 million share buyback program given the confidence in the long-term outlook and ability to generate significant excess capital going forward.
- The Company reiterated that it expects to deliver at least 20% year-over-year growth in revenue and Adjusted EBITDA1 in fiscal 2024. Please see the “Annual Financial Outlook” section of this press release for further details.
Fourth Quarter 2023 Financial Highlights
- Revenue in the fourth quarter of 2023 increased 22% to €252.6 million compared with the fourth quarter of 2022 with growth across all segments.
- Total Profit from continuing operations for the fourth quarter of 2023 was €23.2 million compared to a loss of €33.3 million for the same quarter last year. The Company’s Adjusted EBITDA1 for the same period increased 13% to €39.5 million compared with the fourth quarter of 2022, primarily due to strong revenue growth.
- Total Profit from continuing operations, as a percentage of revenue, for the fourth quarter of 2023 was 9% compared with (16%) for the same quarter last year. Adjusted EBITDA margin1 was 16% in the fourth quarter of 2023, compared with 17% in the prior year period.
- The Company’s customer Net Retention Rate1 (NRR) was 111% in the fourth quarter of 2023, demonstrating the Company’s strength in cross selling and upselling to its clients.
- As of December 31, 2023, Sportradar had total liquidity of €497.2 million including cash and cash equivalents of €277.2 million and an undrawn credit facility of €220.0 million.
_________________________________
1 Non-IFRS financial measure or operating metric; see “Non-IFRS Financial Measures and Operating Metric” and accompanying tables for further explanations and reconciliations of non-IFRS measures to IFRS measures.
| Key Financial and Operating Metrics | ||||||
| Q4 | Q4 | Change | FY | FY | Change | |
| In millions, in Euros € | 2023 | 2022% | 2023 | 2022% | ||
| Revenue | 252.6 | 206.3 | 22% | 877.6 | 730.2 | 20% |
| Profit (loss) for the period from continuing operations | 23.2 | (33.3) | 170% | 34.6 | 10.5 | 230% |
| Profit (loss) for the period from continuing operations as a percentage of revenue | 9% | (16)% | +2,530 bps | 4% | 1% | +251 bps |
| Adjusted EBITDA1 | 39.5 | 35.1 | 13% | 166.8 | 125.8 | 33% |
| Adjusted EBITDA margin1 | 16% | 17% | -136 bps | 19% | 17% | +177 bps |
| Net Retention Rate1 | 111% | 119% | -717 bps | 111% | 119% | -717 bps |
Recent Company Highlights
- Sportradar launched a landmark product suite, ATP Service+, as a result of the Company winning the ATP global betting and media data rights. Sportradar and ATP are now working together to drive the commercial growth of tennis and enhance fan engagement.
- Sportradar entered into agreements with NASCAR, the South American Football Confederation (CONMEBOL) and Bundesliga, Germany’s premiere soccer league, for exclusive global data rights.
- Sportradar extended agreements with BetMGM and Caesars Sportsbook for official NBA data. For the first time, Sportradar will provide these sportsbooks with products and services that leverage NBA optical tracking data as a result of its exclusive partnership with the NBA. This will enable sportsbooks to grow their proposition markets, same-game parlays, as well as in-play betting markets.
- Sportradar was selected by the Taiwan Sports Lottery Company, Ltd. to power its Sports Lottery with a customized omnichannel sportsbook and player management solution. As part of a consortium, Sportradar will operate the Sports Lottery through 2033 using the Company’s ORAKO end-to-end sportsbook and player account management system.
- Alpha Odds, Sportradar’s automated odds recalculation tool, launched delivering an average profit increase of 10% for clients in 2023.
- FanID, which connects rights holders and brands with sports fans launched as the first solution in the market with a data clean room to tackle the demise of third-party cookies.
- Sportradar received several industry recognitions, including Best Live Streaming Supplier at EGR B2B Awards 2023, Marketing & Services Provider of the Year at SBC Awards 2023 and Sports Betting Provider of the Year at Sigma Asia Awards 2023. Additionally, Sportradar was included on Business Insider’s “Leaders in AI 100” list.
Segment Information
RoW Betting
- Segment revenue in the fourth quarter of 2023 increased by 25% to €132.0 million compared with the fourth quarter of 2022. Growth was driven primarily by increased sales of the Company’s MBS solution, which grew 48% year over-year-as sports outcomes normalized and the contribution from the Taiwanese Sports Lottery Company. Our Live Odds Services also grew 21%.
- Segment Adjusted EBITDA1 in the fourth quarter of 2023 increased by 19% to €55.0 million compared with the fourth quarter of 2022. Segment Adjusted EBITDA margin1 decreased to 42% compared with the fourth quarter of 2022 mainly due to higher operating costs.
RoW Audiovisual (AV)
- Segment revenue in the fourth quarter of 2023 increased by 20% to €50.0 million compared with the fourth quarter of 2022. Revenue growth was driven by the addition of new CONMEBOL and NBA rights and uplift to services to existing and new clients.
- Segment Adjusted EBITDA1 in the fourth quarter of 2023 was €11.2 million. Segment Adjusted EBITDA margin1 decreased to 22% from 28% compared with the fourth quarter of 2022 mainly due to increased sport right costs.
United States
- Segment revenue in the fourth quarter of 2023 increased by 28% to €52.7 million compared with the fourth quarter of 2022. Results were primarily driven by strong market performance, including initial contributions from our NBA deal and the uplift from selling additional services to new and existing clients.
- Segment Adjusted EBITDA1 in the fourth quarter of 2023 was a loss of €1.5 million compared with a profit of €4.3 million in the fourth quarter of 2022 due to the step-up costs of the new NBA deal. Segment Adjusted EBITDA margin12was (3%) compared with 11% in the fourth quarter of 2022.
Costs and Expenses
- Purchased services and licenses in the fourth quarter of 2023 increased by €9.5 million to €57.8 million compared with the fourth quarter of 2022, reflecting one-time set up costs for the Taiwan Lottery deal and higher investments in external development and product delivery costs. Of the total purchased services and licenses, approximately €9.8 million was expensed sport rights.
- Personnel expenses in the fourth quarter of 2023 increased 10% to €88.8 million, compared with the fourth quarter of 2022. The increase was driven by increased headcount and costs related to the Company’s strategic re-alignment initiatives.
- Other Operating expenses in the fourth quarter of 2023 decreased 30% to €24.4 million compared with the fourth quarter of 2022, primarily driven by non-recurring litigation costs that occurred in the fourth quarter of 2022.
- Total sport rights costs in the fourth quarter of 2023 increased by 51% to €75.1 million compared with the fourth quarter of 2023, primarily a result of the new NBA deal.
The tables below show the information related to each reportable segment for the three-month periods and years ended December 31, 2023, and 2022.
| Three Months Ended December 31, 2023 | ||||||||||||
| in €’000 | RoW Betting | RoW Betting AV | United States | Total reportable segments | All other segments | Total | ||||||
| Segment revenue | 132,007 | 50,042 | 52,739 | 234,788 | 17,798 | 252,586 | ||||||
| Segment Adjusted EBITDA | 55,037 | 11,156 | (1,532 | ) | 64,661 | 1,957 | 66,618 | |||||
| Unallocated corporate expenses2 | (27,077 | ) | ||||||||||
| Adjusted EBITDA1 | 39,541 | |||||||||||
| Adjusted EBITDA margin1 | 42 | % | 22 | % | (3 | %) | 28 | % | 11 | % | 16 | % |
| Three Months Ended December 31, 2022 | ||||||||||||
| in €’000 | RoW Betting | RoW Betting AV | United States | Total reportable segments | All other segments | Total | ||||||
| Segment revenue | 105,923 | 41,768 | 41,153 | 188,844 | 17,444 | 206,288 | ||||||
| Segment Adjusted EBITDA | 46,282 | 11,883 | 4,333 | 62,498 | (881 | ) | 61,617 | |||||
| Unallocated corporate expenses2 | (26,508 | ) | ||||||||||
| Adjusted EBITDA1 | 35,109 | |||||||||||
| Adjusted EBITDA margin1 | 44 | % | 28 | % | 11 | % | 33 | % | (5 | %) | 17 | % |
| Year Ended December 31, 2023 | ||||||||||||
| in €’000 | RoW Betting | RoW Betting AV | United States | Total reportable segments | All other segments | Total | ||||||
| Segment revenue | 466,823 | 182,196 | 165,512 | 814,531 | 63,090 | 877,621 | ||||||
| Segment Adjusted EBITDA | 209,562 | 52,211 | 18,893 | 280,666 | (6,328 | ) | 274,338 | |||||
| Unallocated corporate expenses2 | (107,538 | ) | ||||||||||
| Adjusted EBITDA1 | 166,800 | |||||||||||
| Adjusted EBITDA margin1 | 45 | % | 29 | % | 11 | % | 34 | % | (10 | %) | 19 | % |
| Year Ended December 31, 2022 | ||||||||||||
| in €’000 | RoW Betting | RoW Betting AV | United States | Total reportable segments | All other segments | Total | ||||||
| Segment revenue | 389,092 | 160,522 | 127,442 | 677,056 | 53,132 | 730,188 | ||||||
| Segment Adjusted EBITDA | 182,439 | 46,494 | (4,141 | ) | 224,792 | (13,348 | ) | 211,444 | ||||
| Unallocated corporate expenses2 | (85,598 | ) | ||||||||||
| Adjusted EBITDA1 | 125,846 | |||||||||||
| Adjusted EBITDA margin1 | 47 | % | 29 | % | (3 | %) | 33 | % | (25 | %) | 17 | % |
2 Unallocated corporate expenses primarily consist of salaries and wages for management, legal, human resources, finance, office, technology and other costs not allocated to the segments.
Share Buyback Program
The Board of Directors has approved a $200 million share buyback program given the strong business fundamentals and confidence in the long-term profitability and cash flow outlook. The Company anticipates commencing purchases under the program when the next trading window opens, which is following the reporting of its Q1 2024 earnings results.
2024 Annual Financial Outlook
Sportradar is targeting fiscal 2024 outlook for revenue and Adjusted EBITDA1 as follows:
- Revenue of at least €1,050 million, representing year-on-year growth of at least 20%.
- Adjusted EBITDA1 of at least €200 million, representing year-on-year growth of at least 20%.
- Adjusted EBITDA margin1 of approximately 19%.
- Guidance assumes a Euro to USD exchange rate of 1.07.
Conference Call and Webcast Information
Sportradar will host a conference call to discuss the fourth quarter 2023 results today, March 20, 2024, at 8:00 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.
The stand is designed to be more than just a place to visit — it’s a lively lounge where you can grab a drink, chat with the team, and explore real ways to scale your affiliate profits against the backdrop of a bus stop-style design.
N1 Puzzle Promo: Your road to the helicopter prize
N1 Partners is tying the Wealth Bus theme into its N1 PUZZLE Promo — the campaign that’s literally driving our partners toward a brand-new Robinson R22 Beta II helicopter.
Here’s how it works:
- 1 puzzle piece for every 10 FTDs from SEO traffic
- 1 puzzle piece for every 40 FTDs from PPC and ASO
- 1 puzzle piece for every 100 FTDs from FB and other channels (social media, SMS, Email, UAC, In-App)
The more puzzle pieces you collect, the closer you get to taking home the helicopter. And since London is one of the key stops on this journey, N1 Partners will showcase exactly how affiliate traffic can help drive progress toward the prize.
Of course, it’s not just about the final prize. N1 Partners is already running two mini-lotteries (April–July and Sept–Nov) packed with luxury prizes — and everyone wins something. Whether you’re driving PPC, SEO, or social traffic, you can turn volume and speed into puzzle pieces and prizes.
What’s on board at Booth J50
The stand will offer plenty of engaging activities for visitors:
- Bar — visitors can grab a drink and connect with the N1 Partners team.
- Puzzle Collection merch drop — every item gives you +1 puzzle piece in the promo. Plus, each merch owner enters a special giveaway: a custom hoodie, an iPhone 17 Pro Max, and a branded case.
- Plinko-style game — everyone wins! Grab a guaranteed prize right at the booth.
- Meet the N1 Partners team — the team will be on hand to answer questions and show how to boost your current promo results and earnings.
Why meet N1 Partners in London
N1 Partners has been driving affiliate success for over 7 years, with 12+ licensed casino and betting brands and top deals across Tier‑1 markets.
Here’s what the program offers:
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At Booth J50, N1 Partners will be ready to talk about real business — no fluff. If you run SEO, PPC, FB, or any other traffic, we’ll show you how to turn it into bigger profits with our offers.
N1 Partners stands for reliability, honesty, and speed — and we’re always open to new partners who are ready to scale.
Let’s meet in London!
Attendees can visit N1 Partners at Booth J50 during iGB Live London on July 2–3.
Hop on the Wealth Bus, grab exclusive merch (get an extra Puzzle Piece with it) — and discover how to boost your affiliate marketing performance with N1 Partners.
The post Hop on the Wealth Bus: N1 Partners heading to iGB Live London 2025 appeared first on European Gaming Industry News.
The board is set. The stakes are high. And PlayAmo Partners is ready to make its move.
This July, PlayAmo Partners will step onto the global stage at iGB Live 2025, now hosted at London’s iconic ExCeL Centre. With 15,000+ industry leaders, innovators, and dealmakers in attendance, it’s the ultimate arena to showcase who plays to win — and how.
At Booth L20, PlayAmo unveils a chessboard-themed stand that’s more than a visual statement — it’s a mindset. In a world of flashy gimmicks and empty promises, PlayAmo is showing up with sharp strategy, high-stakes gameplay, and offers as tailored as a grandmaster’s next move.
The stand fuses luxury and logic, inviting visitors to experience the brand’s signature mix of elegance, excitement, and edge. And it’s not just for show — it’s interactive.
In partnership with Lucky Media, PlayAmo is co-hosting an on-site partner quest. The challenge? Outsmart the board. The reward? A shot at winning a Wimbledon ticket or a brand-new MacBook — because PlayAmo doesn’t believe in small prizes.
And beyond the games? Real talk. Smart deals. Big moves.
Visitors to Booth L20 will get exclusive face time with the team to:
- Unlock bespoke offers crafted for their traffic
- Discuss scalable strategies to grow revenue
- Explore PlayAmo’s unique product ecosystem
“This industry rewards brains over luck — and that’s exactly how we play. At iGB Live London, we’re doubling down on strategy, precision, and partnership. We’re here to connect with ambitious affiliates, offer custom deals, and build relationships that go far beyond the event floor”, says Edgar, CEO of PlayAmo Partners.
So, if you’re in the game to win — come find them. Join PlayAmo Partners at Booth L20 for a strategic deep dive into high-converting offers, long-term growth solutions, and the tools affiliates need to thrive in 2025 and beyond.
The post Precision, Power, Play: Visit PlayAmo Partners at Booth L20 During iGB Live 2025 appeared first on European Gaming Industry News.
This summer, the iconic iGB Live lands in London for the first time — bringing together over 15,000 iGaming professionals from around the world. On July 2–3, 22Bet Partners will join the action at stand K60 in ExCeL London, ready to serve bold partnerships, fresh ideas, and a tennis-themed experience that’s game, set, match.
iGB Live 2025 marks a new chapter as it relocates from Amsterdam to London, raising the stakes for everyone involved. For 22Bet Partners, this is more than a showcase — it’s a statement. The brand is setting the tone with a standout stand themed around tennis, celebrating energy, precision, and competitive spirit.
Visitors to stand K60 can expect:
– A full-on tennis court setup with sleek design and interactive elements
– Signature cocktails and premium branded merch
– Real talk with the 22Bet Partners team: whether you’re looking to scale an existing collab or launch something new, they’re available
– A dynamic quest from Lucky Media — complete challenges at the 22Bet stand and you could score the ultimate prize: a ticket to Wimbledon
As a proud partner in the Lucky Media quest, 22Bet Partners invites attendees to bring their A-game — and leave with more than just a handshake.
“We’re thrilled to join iGB Live 2025 in London — an event that brings together the best minds in affiliate marketing. For us, nothing beats face-to-face conversations with our partners. It’s where ideas flow, plans evolve, and momentum builds. Our team is united by a love for what we do and a drive to grow bigger, better, bolder. Expect energy, surprises, and a lot of inspiration at stand K60”, says Yan, CEO of 22Bet Partners
Ready to serve up new wins? Meet 22Bet Partners at stand K60.
Connect with the team, dive into their tennis-themed world, and take your shot at winning a Wimbledon ticket.
The event is a perfect opportunity to see 22Bet Partners’ latest initiatives and partnership opportunities in action.
The post Meet 22Bet Partners at iGB Live London: Tennis, Talks & Wimbledon Dreams appeared first on European Gaming Industry News.
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