Sportradar has released its financial results for 2022. According to the company, revenue in 2022 increased 30 percent year-over-year (YoY) to €730.2 million.
Previously, revenue was projected to be between €718 million and €723 million.
The company also reported that the total profit for 2022 was €10.5 million compared with €12.8 million a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) increased 23 percent YoY to €125.8 million.
In addition, it is reported that Sportradar has repaid €420 million of its outstanding term loan debt, eliminating the term loan in its entirety. Fourth quarter revenue rose 35 percent YoY to €206.3 million and adjusted Ebitda leaped 64 percent to €35.1 million.
The revenue increase was driven by 26 percent YoY growth from Sportradar’s rest of world (ROW) betting segment and 78 percent growth from the US.
Results were also boosted by Sportradar strengthening its core betting business by increasing its wallet share with customers by selling its higher-value products.
“I am very pleased with our strong results driven by exceptional execution this past year,” said Carsten Koerl, chief executive of Sportradar.
“We saw excellent performance across all of our key performance metrics despite challenging macroeconomic conditions.
“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,” he added.
Sportradar expects its revenue for 2023 to be between €902 million and €920 million, while adjusted Ebitda is forecast to be in the range of €157 million and €167 million.
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