- Sportradar Group AG (NASDAQ:SRAD) reported fourth-quarter revenue growth of 41% year-on-year to €152.4 million ($172.2 million), beating the consensus of $156 million.
- Segments: U.S. revenue increased by 92% Y/Y to €23.2 million ($26.2 million) due to sales of U.S. Betting services.
- RoW Betting segment revenue rose by 30% Y/Y to €82.2 million due to uptake in its higher value-add offerings, including Managed Betting Services (MBS) and Live Odds Services.
- Also Watch: Benzinga's Interview with Sportradar CEO on Money Mitch
- RoW Audiovisual (AV) segment revenue jumped by 52% Y/Y to €35.6 million due to a higher volume of streaming services across all major sports.
- The adjusted EBITDA margin contracted 300 bps to 14% following increased investment in content and technology.
- Sportradar held €742.8 million in cash and equivalents and generated €6.6 million in operating cash flow.
- Sportradar extended multi-year partnerships with the National Hockey League (NHL), National Basketball Association (NBA), International Tennis Federation (ITF), and Bundesliga International, in addition to securing new deals with the International Cricket Council (ICC) and the Union of European Football Associations (UEFA).
- FY22 Outlook: Sportradar sees revenue of €665.0 million - €700.0 million and Adjusted EBITDA of €123.0 million - €133.0 million.
- Price Action: SRAD shares closed lower by 5.15% at $14.72 on Tuesday.
