Sportradar Group AG - Class A
Q2 2026 Earnings
Market Reaction
Did SRAD Beat Earnings? Q2 2026 Results
Sportradar Group AG delivered a mixed second quarter for fiscal 2026, missing on both the top and bottom lines as a sharp reversal in foreign currency results obscured otherwise solid operational momentum. Revenue came in at $377.81 million, up 18.9% year-over-year but falling just short of the $381.60 million consensus, while earnings per share of negative $0.01 badly trailed the $0.07 estimate, a 114.29% miss. The headline disappointment traced directly to a $9.13 million foreign currency loss on U.S. dollar-denominated sports rights, a painful swing from the $53.85 million gain recorded in the prior-year period, which drove a net loss of $3.52 million compared to a $49.12 million profit a year ago. Beneath that noise, Betting Technology and Solutions, the company's largest segment, grew 21% to $313.61 million, fueled by a 27% surge in Betting and Gaming Content. Adjusted EBITDA rose 19% to $76.27 million, and management raised its full-year guidance, now targeting reported revenues of $1.52 billion to $1.53 billion with Adjusted EBITDA of $360 million to $368 million.
- 27% growth in Betting & Gaming Content driven by IMG ARENA acquisition contributions and new customer uptake
- 16% growth in Marketing & Media Services from new and existing media/technology customers and increased affiliate marketing spending
- 19% revenue growth driven by strong demand for premium content, data and technology solutions
- Lower adjusted personnel costs contributing to Adjusted EBITDA margin expansion
“Sportradar's second-quarter financial growth, along with the progress we delivered across a variety of key strategic initiatives, reflects our mission-critical role at the center of the global sports ecosystem. Strong demand for our premium content, data and technology solutions, including increased monetization of our IMG ARENA rights portfolio, drove double-digit growth while deepening our relationships across our unparalleled global distribution network. We also further expanded our addressable market, entering into strategic partnerships with key prediction market participants that will enable us to capitalize on this fast-growing ecosystem. As we benefit from new avenues of growth, we remain focused on innovating across our core product suite to drive additional value for our partners, and clients as well as our shareholders.”
Sportradar CEO, on the earnings call
Forward Guidance & Outlook
Sportradar provided an updated fiscal 2026 outlook: constant-currency revenue growth of 19% to 21%, with reported revenues expected in the range of €1,518 to €1,533 million; constant-currency Adjusted EBITDA growth of 24% to 27%, with reported Adjusted EBITDA expected in the range of €360 to €368 million; Adjusted EBITDA margin expansion of approximately 70 to 100 basis points on a reported basis; and free cash flow conversion rate expected to exceed the 2025 level of 56%, excluding non-routine litigation costs.
SRAD YoY Financials
SRAD Revenue by Segment
SRAD Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.