Sportradar has revealed its Q4 and FY2022 year-end results, showing growth of 35%. For Q4, the data company reported revenue of €206.3 million ($218.1 million), up from €152.4 million in 2021, with an adjusted EBITDA of €35.1 million – an improvement of 64% compared to 2021.
For 2022 as a whole, the company reported €730.2m in total revenue – representing a 30% year-on-year increase. Meanwhile, its adjusted EBITDA rose 23% year-on-year to €125.8m.
Compared to its competitor Genius Sports, Sportradar had a significantly better year, making $772.2 million in annual revenue compared to $341 million for Genius.
Sportradar representatives evaluate performance in 2022
Carsten Koerl, CEO of Sportradar, said: “I am delighted with our strong results driven by exceptional execution last 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 ongoing long-term partnerships with leading global sporting bodies and innovation in new technologies such as artificial intelligence and computer vision and, just as important, a team passionate about providing solutions to our customers, make us very excited about our growth in 2023 and beyond,” added Koerl.
Additionally, Ulrich Harmuth, interim CFO, added: “Our fourth quarter financial results illustrate the momentum we have built throughout 2022.”
“We’ve demonstrated operating leverage in our business model, despite making significant investments in our products and technology, streamlined our organization to be more customer-centric, and strengthened our balance sheet by paying down our debt.”
“Our 2023 guidance for revenue growth and margin expansion reflects the investments we’ve made to date and the growing opportunity in the global sports market,” concluded Sportradar‘s interim CFO.
