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For Q4, Sportradar has reported revenue of €206.3m ($218.1m), up from €152.4m in 2021, with an adjusted EBITDA of €35.1m – a 64% improvement on 2021.
For 2022, as a whole, the company posted €730.2m in total revenue – representing a 30% increase annually. Meanwhile, its adjusted EBITDA was up 23% year-on-year to €125.8m.
Compared to its rival Genius Sports, Sportradar has had a significantly better year, making $772.2m in annual revenue compared to Genius’ $341m.
Carsten Koerl, CEO of Sportradar, said: “I am very pleased with our strong results driven by exceptional execution this past year. We saw excellent performance across all of our key performance metrics despite challenging macroeconomic conditions including a second consecutive quarter of positive adjusted EBITDA in the US.
“Our continued long-term partnerships with leading global sports bodies, and innovation across new technologies such as artificial intelligence and computer vision and, as important, a team passionate about delivering solutions to our clients, make us very excited about our growth in 2023 and beyond.”
Furthermore, Ulrich Harmuth, Interim CFO, added: “Our fourth quarter financial results illustrate the momentum we’ve built throughout 2022.
“We demonstrated operational leverage in our business model, despite making significant investments in our products and technology, streamlined our organisation to be more customer-centric, and strengthened our balance sheet by repaying our debt.
“Our 2023 guidance of revenue growth and margin expansion reflects the investments we have made to date and the growing global sports market opportunity.”
