Welcome to our dedicated page for Sportradar Group news (Ticker: SRAD), a resource for investors and traders seeking the latest updates and insights on Sportradar Group stock.
Sportradar Group AG (NASDAQ: SRAD) is a leading global sports technology company, founded in 2001, dedicated to transforming the sports, media, and betting industries through innovative data solutions and digital content. With a workforce of over 1,650 professionals spread across more than 30 locations, the company proudly serves over 1,000 clients in more than 80 countries.
Sportradar specializes in providing advanced technological solutions to a diverse client base, including media outlets, bookmakers, sports federations, and governmental authorities. The company's core business revolves around leveraging sports data powered by artificial intelligence to enhance user engagement and enable next-generation sports experiences.
One of Sportradar's flagship products is the Alpha Odds, an automated odds recalculation tool launched in 2022. This solution has been instrumental in delivering an average profit increase of 10% for its clients in 2023. Alpha Odds utilizes enhanced AI models to provide accurate predictions and real-time risk management, thereby improving trading efficiency by 11%.
In addition to its robust product offerings, Sportradar maintains strong partnerships with major sports organizations such as the ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA, and Bundesliga. The company covers nearly a million events annually, ensuring comprehensive data and support for its clients.
Sportradar has also made significant strides in financial transparency and reliability. The financial reconciliation capabilities of Alpha Odds have been certified under the ISAE 3402 Type 1 standard by PwC, highlighting the accuracy and dependability of its computational methods.
Financially, Sportradar's revenue streams are primarily derived from subscription-based models and revenue-sharing agreements. The company's commitment to innovation and quality service is reflected in its ongoing projects and clientele satisfaction.
For more information about Sportradar Group AG, visit www.sportradar.com. The company continues to be a key player in driving the future of sports technology and data services.
Sportradar (NASDAQ: SRAD) has secured a multiyear agreement with Major League Baseball (MLB) to provide sports performance analysis of amateur baseball prospects through its Synergy Coaching and Scouting solution. The partnership will significantly expand event coverage from 3,300 to over 20,000 games, marking a 600% increase. This includes coverage of college, international, professional partner leagues, and top high school events.
The solution leverages Sportradar's AI-powered technology to transform video data into detailed metrics and actionable insights, helping MLB and its 30 Clubs streamline player evaluation and draft decisions. The partnership represents an expansion of Sportradar's relationship with MLB, providing comprehensive scouting tools for identifying future talent.
Sportradar (NASDAQ: SRAD) reported strong Q3 2024 financial results with revenue increasing 27% to €255 million. Profit for the period rose significantly to €37 million, representing 14.5% of revenue. Adjusted EBITDA grew 30% to €66 million with margin expanding to 25.8%. The company demonstrated robust performance with net cash from operations up 55% to €118 million and Customer Net Retention Rate at 126%. US revenue grew 46%, representing 20% of total revenue. Based on these results, Sportradar raised its full-year 2024 guidance, expecting revenue growth of at least 24% to €1,090 million and Adjusted EBITDA growth of at least 29% to €216 million.
Sportradar (NASDAQ: SRAD) is enhancing its partnership with the NBA through innovative fan engagement solutions. These new offerings aim to fuel the passion of the league's two billion global fans and represent the next phase in basketball consumption. Leveraging AI and proprietary technology, Sportradar has launched a suite of next-generation products for the NBA, including:
1. Virtualized Live Match Tracker: Uses computer vision to create 3D visualizations from real-time NBA data.
2. 4Sight Streaming: Generates animated overlays and actionable insights for informed real-time betting decisions.
3. NBA Advanced Visualizations: Creates engaging content using skeletal tracking data.
4. emBET: Allows bettors to monitor wagers on various devices.
These products aim to redefine fan engagement standards and open new revenue streams for the NBA, its partners, and Sportradar clients.
Sportradar Group AG (NASDAQ: SRAD) has announced it will release its financial and operating results for the third quarter ended September 30, 2024, on Thursday, November 7, 2024. The company will host an earnings call via webcast to discuss the results at 8:00 a.m. Eastern time on the same day.
Interested parties can access the webcast through Sportradar's Investor Relations website at https://investors.sportradar.com. A replay of the event will be available on the same website for one year following the conclusion of the call.
Sportradar (NASDAQ: SRAD) is revolutionizing the betting industry with the expansion of micro markets, set to launch for ATP tennis matches in October 2024. This innovative in-play betting product, developed in partnership with Tennis Data Innovations (TDI), will offer eight distinct micro markets generating approximately 1,500 new betting opportunities per match.
Leveraging advanced AI and deep tennis data, Sportradar's solution processes hundreds of thousands of data points per match, offering unique betting options such as predicting the next breakpoint, serve outcomes, and point details. The company plans to extend micro markets to American football, baseball, basketball, and ice hockey in the first half of 2025, further diversifying its portfolio and creating new revenue streams for operators.
Sportradar Group AG (NASDAQ: SRAD), a leading global sports technology company, has announced its participation in four major investor conferences in September 2024. The company, which focuses on creating immersive experiences for sports fans and bettors, will be present at:
- Benchmark's Tech, Media & Telecom Conference on September 4
- BofA's Gaming and Lodging Conference on September 5
- Citi's Global TMT Conference on September 6
- BTIG Digital GameDay on September 10
Sportradar will host investor meetings during these conferences, providing an opportunity for the company to engage with potential investors and showcase its innovative sports technology solutions.
Sportradar Group (NASDAQ: SRAD) reported Q2 2024 results with a record revenue of €278.4 million, up 29% YoY.
Betting Technology & Solutions contributed €229.1 million, a 30% increase, while Sports Content, Technology & Services added €49.3 million, up 22%. The U.S. market showed significant growth with revenue up 59%. Adjusted EBITDA rose to €48.8 million, up 22% YoY.
The company raised its 2024 outlook, now expecting a 22% increase in revenue and Adjusted EBITDA. Despite generating strong cash flows of €152.6 million YTD, Sportradar reported a net loss of (€1.5 million) for the quarter.
They repurchased 748,000 shares worth $8.0 million and have ample liquidity of €542.2 million.
Key operational highlights include expanding the UEFA partnership and launching innovative advertising channels.
Sportradar Group AG (NASDAQ: SRAD), a leading global sports technology company, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The event is scheduled for Wednesday, August 14, 2024, featuring a fireside chat with Craig Felenstein, Sportradar's Chief Financial Officer.
The fireside chat will begin at 1:30 pm Eastern Time and will be accessible via live webcast on the company's investor relations website at investors.sportradar.com. This participation provides an opportunity for investors and analysts to gain insights into Sportradar's business strategies and financial performance directly from the company's CFO.
Sportradar Group AG (NASDAQ: SRAD) has announced it will release its financial and operational results for the second quarter ended June 30, 2024, on Tuesday, August 13, 2024. The company will host an earnings call via webcast at 8:30 am Eastern time on the same day to discuss the results.
Interested parties can access the webcast through Sportradar's Investor Relations website. A replay of the event will be available on the website for one year following the call. This announcement provides investors and analysts with a scheduled opportunity to review Sportradar's performance and engage with management about the company's financial health and future prospects.
Sportradar Group AG (NASDAQ: SRAD) and UEFA have extended their exclusive betting data rights agreement, adding non-exclusive rights for media distribution. This multi-year deal covers major UEFA events like the Champions League, Europa League, and Women's EURO 2025, increasing match coverage to 900 per season—a 33% rise. The agreement also enhances Sportradar's AI-driven products. Furthermore, their 15-year integrity partnership will continue, providing UEFA with advanced bet monitoring and match-fixing prevention tools. This collaboration aims to deliver unparalleled engagement and technological innovations for bettors and fans.
FAQ
What is the current stock price of Sportradar Group (SRAD)?
What is the market cap of Sportradar Group (SRAD)?
What is Sportradar Group AG?
What does Sportradar specialize in?
What is Alpha Odds?
Who are Sportradar’s primary clients?
How many events does Sportradar cover annually?
What are Sportradar’s main revenue sources?
What certifications has Sportradar achieved?
Who are some of Sportradar's partners?
How many people does Sportradar employ?
Where can I find more information about Sportradar?
