Sportradar, a provider of business-to-business solutions to the global sports betting industry, has announced its financial results for its first quarter of 2022.
Revenue in the first quarter of 2022 increased 31 per cent compared with the first quarter of 2021 to €167.9m ($186.4m), driven by strong growth across all business segments. In particular, the US segment revenue grew by 124 per cent to €25.7m ($28.5m).
Adjusted EBITDA in the first quarter of 2022 decreased five per cent compared with the first quarter of 2021 to €26.7m ($29.6m), primarily due to higher costs associated with being a public company as well as reversal of certain temporary Covid-19 related cost savings versus the first quarter of 2021.
Adjusted EBITDA margin was 16 per cent in the first quarter of 2022, compared with 22 per cent over the prior year period.
