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.”
