Sportradar, a sports data provider, has reported revenue of EUR136.8m (US158.7m/PS115.1m), a 29,9% rise on last year’s third quarter.
Sportradar has just completed its first quarter since the completion of the initial public offering and the listing on Nasdaq. The company estimated that EUR546.0m was raised, which will be used for funding the continued growth of the business.
EUR19.6m, or 120.2% of EUR136.8m revenue for the supplier was generated in the US. This is a significant increase over 2020. The betting revenue for the rest of world was EUR78.6m – up by 24.45. The betting audiovisual revenues from the rest the world, which consists mainly of live streaming services for betting operators, were EUR29.0m. This is a slight decrease from 2020. Other segments added EUR7.4m.
Operating expenses were EUR76.4m for the third quarter, up EUR41.0m from 2020. Personnel costs totaled EUR51.3m while operating expenses were EUR25.2m.
The amount spent for depreciation, amortisation and purchased licenses and services was EUR29.4m.
Net losses fell from EUR16,0m in 2020 to EUR6,0m after these costs.
The quarter’s losses were EUR9.0m after accounting for EUR3.0m of income taxes, down EUR15.0m from 2020.
Sportradar’s adjusted earnings before tax, depreciation, and amortization were up by 20.8%, to EUR20.9m.
As highlights of the first quarter, the company also cited agreements with France’s premier basketball league Ligue Nationale De Basket and Austrian Tennis Association.
Sportradar’s CEO Carsten Koerl stated that the company would pursue US expansion.
He said, “Our results are strong and show the value that we offer to partners and clients around the globe.” We are the biggest provider of sports information in the world, and we’re the only global platform that is profitable.
We plan to continue making significant investments in particular the US. Our strategic growth plan is primarily focused on the US, which represents only 7 percent of group revenue. This presents a huge business opportunity, especially as states begin to legalize gambling and as the betting market grows from $1 billion to $23 billion over the next decade.
