Sportradar FY 2024 revenue hits $1.2bn with Q4 up 22%

Sportradar has released its full Q4 & FY 2024 financial results, highlighting revenues of $334.5m and $1.2bn respectively (figures converted from Euro, accurate as of 19.03.2025).  

Indeed, these latest figures also represent respective year-over-year growth of 22% and 26% for Q4 and FY 2024 – with the supplier’s full-year results exceeding both revenue and EBITDA guidance.  

IMG Arena acquisition

Alongside the results for Q4 and FY 2024, Sportradar announced that it has agreed to acquire IMG Arena and its sports rights portfolio from Endeavor Group. The brand, which was sold off by Endeavor Group in November 2024, offers 15 million data points with coverage of roughly 39,000 events in sports including basketball, soccer and tennis, with previous partnerships including those with FanDuel and PointsBet, among others.

CEO Carsten Koerl stated, “Sportradar’s success is driven by the breadth of its sports coverage, its broad product portfolio and leading technology, and its global distribution network. Given our proven track record of maximizing ROI through our global betting rights deals and our strengthened position across tennis, basketball and soccer, we are confident in our ability to realize the full economic potential of this portfolio. In addition, the unique structure of this transaction accelerates our revenue and cash flow profile and will be immediately accretive to our margins. The addition of these strategic rights will unlock new growth opportunities, enabling us to deliver exceptional value to our partners, clients and shareholders.”  

The acquisition is set to cost $225m subject to customary adjustments. Sportradar will not be required to make any financial consideration to Endeavor. 

Q4 

Regarding Sportradar’s Q4 2024 financial results, the supplier generated a revenue figure of $334.5m – up 22% in comparison to results from the year prior and driven by a 30% year-over-year revenue rise in betting and gaming content. Further, this overall rise came despite a slight fall in managed betting services revenues of 1% compared to Q4 2023. Elsewhere, revenue from marketing and media services grew by 22% – settling at $8.5m, with integrity services revenue rising by a notable 151% year-over-year.  

Adjusted EBITDA also rose by 53% when compared to Q4 2023 – settling at $66.5m for the quarter. Geographically, Sportradar’s operations outside of the US were the primary revenue drivers for Q4. However, revenue from US operations did rise by 41% in comparison to results from the year before – settling at $81.4m. 

FY 2024 

Drawing focus on the company’s FY 2024 financials, revenue rose by 26% to a figure of $1.2bn – seeing Sportradar surpass the billion mark for the first time. Of that figure, the $37m of profit generated remained flat year-over-year, with net cash from operating activities rising by 36% to a total of $384.9m.  

With regard to full-year adjusted EBITDA, the supplier posted a figure of $242m – representing a rise of 33% when compared to results from 2023 and complemented by an adjusted EBITDA margin of 20.1%. Elsewhere, its customer net retention rate increased to 127%.  

Now, following these results, Sportradar has confirmed its 2025 annual financial outlook – with predicted revenue expected to hit $1.39bn and adjusted EBITDA to rise to $306m – representing expected growth of 15% and 26%, respectively.  

2024 highlights   

In March 2024, the company’s BOD authorized a $200m share repurchase program – with a total of 467,000 shares having been repurchased by the supplier for $5.7m during Q4 2024 – and a total of 1.8 million shares repurchased by the organization for $20.3m over the course of the full year.  

Shortly after the initiation of this program, Sportradar announced the appointment of Craig Felenstein as its new CFO. More recently, the supplier entered into a new player analysis technologies partnership with Major League Baseball, who will seek to utilize Sportradar’s services for scouting activities.  

Commenting on the company’s latest financials, Carsten Koerl, Sportradar CEO, said: “We are pleased with our strong execution in 2024, achieving record revenue, operating margins and free cash flow generation. Importantly, we continued to build on our key competitive advantages including enhancing the depth and breadth of our content portfolio and further innovating on our product offerings. 

“On the content front, with the extension and expansion of our Major League Baseball partnership, we now have all our existing major rights locked in for an average of six years, providing us with great cost visibility. And with the announced agreement to acquire IMG Arena’s sports rights portfolio, we will further enhance our sports coverage in some of the most bet on sports globally.  

“This past year we also grew our product offering, launching a number of products that expand our best-in-class product suite and bring fans closer to their favorite sports. Importantly, as we grow our topline, we are at an inflection point for multi-year margin expansion and increasing cash flow, positioning us to deliver meaningful shareholder value for years to come.” 

Will Underwood

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