Sportradar Group AG - Class A
Q1 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +3.56%.
Did SRAD Beat Earnings? Q1 2025 Results
Sportradar kicked off 2025 with a standout quarter, posting earnings per share of $0.07 against a consensus estimate of $0.05, a beat of nearly 48%, while record quarterly revenue of $311.23 million climbed 17.1% year over year and edged past analyst expectations of $308.35 million. The profit swing was one of the quarter's most striking developments — the company earned $24.34 million compared to a near-breakeven loss of $649,000 a year ago, aided in part by a $27.52 million foreign currency gain. Growth was broad-based, with the Betting Technology & Solutions segment rising 14% and Sports Content, Technology & Services surging 33%, the latter fueled by accelerating sportsbook marketing spend. U.S. revenue grew 31% and now accounts for 28% of total revenue, underscoring continued North American momentum. Free cash flow swung to $31.95 million from essentially zero a year ago. Management reiterated its full-year 2025 outlook, targeting revenue of at least $1.27 billion and Adjusted EBITDA of at least $281 million, with the pending IMG ARENA acquisition expected to add further upside once it closes in Q4.
- 17% year-over-year revenue growth driven by broad-based growth across product suite and global footprint
- U.S. revenue grew 31%, now representing 28% of total revenue
- Customer Net Retention Rate of 122% demonstrating strong cross-sell and up-sell
- Betting & Gaming Content growth of 13% from customer uptake of additional products and U.S. market growth
- Marketing & Media Services growth of 36% from higher ad:s revenue and expanded affiliate marketing
- Managed Trading Services growth driven by increased turnover and higher trading margins
- Foreign currency gain of €28 million vs. €14 million loss in prior year
“We had a strong start to the year with record quarterly revenue as we delivered broad-based growth across our leading product suite and diverse global footprint, while expanding margins and cash flow. The continued momentum we are generating builds upon our success from last year, demonstrating the durability of our business and our mission critical role in the expanding sports ecosystem. During the quarter we also further bolstered our leading content portfolio with the extension and expansion of our partnership with Major League Baseball and we signed an agreement to acquire IMG ARENA's sports betting rights portfolio. We are excited by the unique opportunities these valuable properties will provide to our customers and look forward to generating additional value for our shareholders in 2025 and beyond.”
Sportradar CEO, on the earnings call
Forward Guidance & Outlook
Sportradar reiterated its fiscal 2025 outlook: Revenue of at least €1,273 million (representing YoY growth of at least 15%), Adjusted EBITDA of at least €281 million (YoY growth of at least 26%), Adjusted EBITDA margin expansion of at least 200 basis points, and Free cash flow conversion rate above the 2024 level of 53%. The 2025 guidance does not include any impact from the pending acquisition of IMG ARENA given the uncertainty around timing of close. Guidance will be updated to incorporate the anticipated uplift following the closing of that transaction.
SRAD YoY Financials
SRAD Revenue by Segment
SRAD Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.