Sportradar Reports $1.1B Revenue in 2024 and 58% U.S. Growth

A Blockbuster Year with U.S. Power

Betting Technology & Solutions fueled this, growing 29% to €907 million, with Betting & Gaming Content spiking 33% to €707.1 million.

CEO Carsten Koerl ties the U.S. boom to a hot market, premium pricing, and clients gobbling up products. Meanwhile, Sports Content, Technology & Services rose 15% to €200 million, lifted by a 16% bump in Marketing & Media Services to €146.9 million.

Profits stayed flat at €34 million, matching 2023, as a €38 million currency loss offset operational wins. Still, adjusted EBITDA climbed 33% to €222 million, boosting margins to 20.1%. Cash flow popped too. Net operating cash rose 36% to €353 million, and free cash flow rocketed 133% to €118 million.

Globally, Rest of World grew 19% to €843.8 million, but the U.S. stole the spotlight. Integrity Services jumped 59% to €12.3 million, showing demand for fair-play tech, while Sports Performance inched up 2% to €40.4 million. With a 127% customer retention rate, Sportradar beat its full-year revenue and EBITDA goals.

Q4 Surge and a Game-Changing Deal

Q4 kept the heat on, with revenues hitting €307 million, up 22% from last year. The U.S. flexed again, growing 41% to €74.8 million, lifting its share to 24% from 21% in Q4 2023. Betting & Gaming Content rose 30% to €191.8 million, riding U.S. demand, while Sports Content, Technology & Services climbed 23%.

Marketing & Media Services added a 22% gain to €44.3 million. Managed Betting Services, though, slipped 1% to €55.1 million, strong trading growth got dinged by missing one-time hardware cash from Taiwan Lottery in 2023. Integrity Services skyrocketed 151% to €4.8 million, a tiny but mighty piece.

Adjusted EBITDA soared 53% to €61 million, with margins at 19.7%. Net cash flow from operations jumped 57% to €82 million, though free cash flow showed a €4 million dip due to sports rights payment timing.

Then there’s the IMG Arena deal.. Sportradar’s snagging IMG’s global sports betting rights portfolio from Endeavor Group Holdings, set to close in Q4 2025 if regulators sign off. It grabs rights to 39,000 data events and 30,000 streaming events across 14 sports, think Wimbledon, U.S. Open, and MLS.

Koerl says it’ll beef up offerings in basketball, soccer, and tennis, the top betting draws. Here’s the twist: IMG Arena pays Sportradar €225 million, €125 million in cash over two years, plus up to €100 million in prepaid rights. Sportradar pays zilch, strengthening its cash pile for shareholder perks or more bets. This could turbocharge U.S. growth, where betting content’s already red-hot.

U.S. Momentum and Future Payoff

The U.S. is Sportradar’s golden ticket. That 58% full-year leap to €263 million shows a market that’s maturing fast. Betting & Gaming Content’s 33% growth, €707.1 million, leans hard on American operators craving real-time data and odds.

Q4’s 41% U.S. surge to €74.8 million proves it’s no fluke, even with a €1 million quarterly loss tied to currency swings (down from a €23 million profit in Q4 2023).

Koerl highlights long-term deals, like a six-year MLB extension, locking in costs and stability. Add the IMG Arena haul, and Sportradar’s poised to flood the U.S. with premium content for years.

U.S. betting’s exploding, legal states jumped from 18 to 38, per industry trackers. Sportradar’s tools, like live stats and streaming, feed that hunger. The company’s 24% U.S. revenue slice, up from 19%, shows it’s grabbing a bigger piece of the pie.

Cash flow’s humming, with €118 million free in 2024, up 133%. Koerl calls it an “inflection point” for multi-year margin growth. If the IMG deal lands, expect €263 million to look small by 2026.