Following the release of its financial results for the quarter ending June 30, Sportradar has raised its full-year 2024 outlook to 22 per cent year-on-year growth in revenue.
The company reported a quarterly revenue of €278.4m, an increase of 29 per cent over the previous year, and an Adjusted EBITDA of €48.8m, an increase of 22 per cent.
However, despite that, the company still reported a loss of €1.5m for the period, compared to a de minimis profit for the same quarter the previous year.
“Our strong second quarter results, including another quarter of record revenues are a testament to the operating momentum we are generating across our business and the clear execution against our strategies to drive outperformance versus the market,” said Carsten Koerl, CEO of Sportradar.
“We delivered robust growth across our high-value product portfolio and strong client uptake, while continuing to strengthen our business by driving efficiencies and significant cash flow.
“I am pleased to once again raise our full year guidance as we continue to build long-term shareholder value through strong topline growth, a focus on delivering additional operating leverage and increasing cash flow generation.”
