Sportradar released its Q3 2022 results, which show a 31% growth in revenue for the period, totaling €178.8 million (US$185 million).
The report also shows that Sportradar’s adjusted EBITDA grew to €36.4 million in the third quarter of 2022 from €20.8 million in the same period of 2021 – representing a 75% increase.
In the first nine months of the year, period ending in September, Sportradar’s revenue totaled €523.9 million, compared to €408.8 million in 2021, and its EBITDA rose to €90.7 million from €80.6 millions.
Results look good for Sportradar, which is enjoying a stellar 2022 with significant growth across multiple areas. That’s something Carsten Koerl, CEO of Sportradar, highlighted: “Our strong performance in the third quarter exceeded our expectations in all key financial metrics.”
“We were able to consistently increase revenue, profitability and cash flows despite adverse market conditions during the first three quarters of 2022.”
“The company exceeds expectations quarter-on-quarter and as a result of our operational performance – in particular in the US and the rest of the world betting business – as well as our organizational streamlining.”
Meanwhile, during the third quarter, Sportradar highlighted that it prepaid €200m of its outstanding debt and its cash equivalents amounted to €512m.
In other Sportradar news, the company recently resolved its dispute with Genius Sports and Football DataCo (FDC). The resolution allows the FDC to continue to license and commercialize the data as it determines in the future, with Genius Sports retaining the exclusive right to provide official low-latency FDC betting data through 2024.
About Sportradar
The world’s leading sports technology company, at the intersection of sports, media and betting. More than 1,700 sports federations, media outlets, betting operators and consumer platforms in 120 countries rely on the group’s know-how and technology to boost their business.
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