Sportradar logo. Source: Sportradar

Sportradar's revenue grew by almost a third in Q2

Sportradar experienced a significant revenue increase of nearly one-third in Q2, with a year-on-year growth of 29%, reaching €278.4 million, despite incurring losses of €1.5 million. The adjusted EBITDA rose by 22% year-on-year to €48.8 million, while the platform generated a turnover of €9 billion between April and June. At the end of Q2, Sportradar reported net cash reserves of €15.26 million.

The Betting Technology and Solutions division saw a 30% revenue increase, totalling €229.1 million, while the Sports Content, Technology, and Services division also experienced a 22% rise in revenue, reaching €49.3 million. Notably, the Betting Technology division contributed to 82% of the company's overall revenue.

In discussions with analysts, CEO Carsten Kerl emphasised the importance of artificial intelligence in the company’s new product development initiatives. To enhance these capabilities, Sportradar appointed former Google VP of Engineering Behshad Behzadi as its CTO and AI director in May.

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