Sportradar Group AG (NASDAQ: SRAD), a global sports technology and data provider supporting the igaming and sports betting sectors, has reported first quarter 2025 results showing 17% year-over-year revenue growth, reaching €311 million. The increase was largely driven by double-digit gains in its Betting Technology & Solutions and Sports Content, Technology & Services segments.
Revenue from Betting Technology & Solutions rose 14% to €250 million, supported by 13% growth in Betting & Gaming Content and a 16% increase in Managed Betting Services. Growth in these areas was attributed to increased customer uptake of Sportradar’s data-driven products, particularly in the U.S. market, and stronger trading margins.
The Sports Content, Technology & Services segment generated €61 million in revenue, a 33% increase from Q1 2024. Marketing & Media Services, a key component of this category, grew 36%, supported by higher advertising revenue and continued expansion in affiliate marketing operations.
Geographically, revenue from the United States rose 31% year-on-year to €86 million, representing 28% of total company revenue in the quarter. Revenue from the rest of the world increased 12% to €225 million. Sportradar reported a Customer Net Retention Rate of 122%, indicating strong client engagement and cross-sell performance across its global portfolio.
Profit for the period reached €24 million, compared to a €1 million loss in Q1 2024. The improvement was driven by operating performance and a €28 million foreign exchange gain, primarily tied to U.S. dollar-denominated sports rights. These gains offset higher costs from share-based compensation and amortisation related to capitalised licensing expenses.
Adjusted EBITDA for the quarter grew 25% to €59 million, with a margin expansion to 18.9%. Net cash generated from operating activities increased 52% to €102 million, with free cash flow reaching €32 million.
Sportradar also announced two major strategic developments during the quarter: the extension of its partnership with Major League Baseball through 2032, and an agreement to acquire IMG ARENA and its global sports betting rights portfolio, further strengthening its igaming market position.
Carsten Koerl, Chief Executive Officer of Sportradar, said: “We had a strong start to the year with record quarterly revenue as we delivered broad-based growth across our leading product suite and diverse global footprint, while expanding margins and cash flow. The continued momentum we are generating builds upon our success from last year, demonstrating the durability of our business and our mission critical role in the expanding sports ecosystem. During the quarter we also further bolstered our leading content portfolio with the extension and expansion of our partnership with Major League Baseball and we signed an agreement to acquire IMG ARENA’s sports betting rights portfolio. We are excited by the unique opportunities these valuable properties will provide to our customers and look forward to generating additional value for our shareholders in 2025 and beyond.”
