Sportradar reports positive US EBITDA for the second consecutive month
The company said its US growth is due to the growing local market.
Sportradar Group has published its fourth quarter and 2022 fiscal year financial results for the period ending December 31, 2022. The group’s US segment posted a 77% increase in revenue during the quarter.
Fourth quarter revenue for Sportradar’s US segment reached $44m. The company attributed its quarterly success in the US to “strong market growth and positive adoption of in-play betting.”
Sportradar’s US group achieved its second consecutive positive quarterly EBITDA. Adjusted EBITDA margin in the US was 11% for the fourth quarter.
US revenue grew by 101% during 2022.
Carsten Koerl, Sportradar CEO, said: “I am very pleased with our strong results driven by exceptional execution this past year. We saw excellent performance across all of our key performance metrics despite challenging macroeconomic conditions including a second consecutive quarter of positive adjusted EBITDA in the US.
“Our continued long-term partnerships with leading global sports bodies, and innovation across new technologies such as artificial intelligence and computer vision and as important, a team passionate about delivering solutions to our clients, make us very excited about our growth in 2023 and beyond.”
Group Interim Chief Financial Officer Ulrich Harmuth elaborated on the company’s goals 2023 goals by saying: “We demonstrated operational leverage in our business model, despite making significant investments in our products and technology, streamlined our organization to be more customer-centric, and strengthened our balance sheet by repaying our debt.
“Our 2023 guidance of revenue growth and margin expansion reflects the investments we have made to date and the growing global sports market opportunity.”
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