Nikada
Sportradar Group AG (NASDAQ:SRAD) said it delivered robust growth in Q2 across its high-value product portfolio and strong client uptake, while continuing to strengthen our business by driving efficiencies and significant cash flow.
Revenue was up 29% year-over-year to €278.4 million as the Switzerland-based company showed continued momentum in the business. Betting Technology & Solutions segment revenue was up 30% to €229.1 million, and Sports Content, Technology & Services segment revenue rose 22% to were €49.3 million. Adjusted EBITDA was up 22% to €48.8 million. The company’s customer net retention rate during the quarter was 117%, which it said demonstrated the strength in cross-selling and upselling to clients, and increasing sequentially.
EPS came in at break even for the quarter.
“We continue to build long-term shareholder value through strong topline growth, a focus on delivering additional operating leverage and increasing cash flow generation,” highlighted CEO Carsten Koerl.
On the balance sheet, Sportradar Group AG (SRAD) had total liquidity of €542.2 million at the end of the quarter, compared to €483.7 million a year ago as it benefited from strong cash flow generation in the first half of 2024.
Looking ahead, Sportradar Group AG (SRAD) sees full-year revenue of €1.07 billion (+22% Y/Y) vs. a prior outlook for €1.06 billion and the consensus estimate of €1.06 billion.
Shares of Sportradar Group AG (SRAD) jumped 6.29% in premarket trading to $12.00 vs. the 52-week range of $8.08 to $12.65.
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