Sportradar posts $952.2m in revenue for 2023

The supplier said it ended both the fourth quarter and the year on a successful note.

Sportradar has published its Q4 and end-of-year financial results for 2023. The company reported 28% growth in US revenue, which reached $57.2m during the fourth quarter.

US adjusted EBITDA fell 3% when compared to last year’s fourth-quarter results. The company was down $1.6m in adjusted EBITDA for Q4.

During the fourth quarter, overall revenue reached nearly $274.1m, up by 22% when compared to results from last year’s same period.

Adjusted EBITDA rose by 13% year-over-year and climbed to almost $42.9m. The company also reported a $25.2m profit for the quarter, versus the loss the company took during Q4 2022.

Revenue during the full year reached $952.2m. The company reported 30% growth from its US operations during the year.

Full-year adjusted EBITDA rose to $180.9m when compared to 2022’s results.

Company CEO Carsten Koerl said that the company had a profitable year, something he hopes to continue during 2024.

He commented, “2023 was another dynamic and successful year for the company delivering our 3rd consecutive year of more than 20% revenue growth, improved profitability, and margin expansion. We are pleased with our growth momentum, fueled by our best-in-class content portfolio, innovative product roadmap and technology capabilities. 

“For 2024, we plan to continue to scale our business globally, targeting at least 20% growth in revenue and adjusted EBITDA.”

Koerl also provided an update on the company’s share repurchase program.

He said in closing, “Given our market leadership and confidence in the long-term profitability and cashflow outlook for the company, we have authorized a $200m share buyback program.

“We remain laser-focused on disciplined execution of our growth strategy and delivering tremendous value for our clients and our shareholders.”

Sarah Chen

Editor

Strong iGaming coverage is built on trust. When platforms are tested thoroughly and explained clearly, players gain the confidence they need to make informed decisions in an industry that rewards transparency.

Visit Profile

Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.