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 Group AG (NASDAQ: SRAD), a leading global sports technology company, has announced its upcoming Investor Day scheduled for Tuesday, April 1, 2025, in New York City. The event will feature presentations from CEO Carsten Koerl, CFO Craig Felenstein, and senior business leaders, focusing on business strategy, growth drivers, and financial outlook.
The presentations will run from 9:00 AM to 12:00 PM Eastern Time, concluding with a Q&A session with senior leadership. While in-person attendance is invitation-only for institutional investors and analysts due to capacity, virtual attendance is available through registration at investorday2025.sportradar.com. Registration details for in-person attendance will be provided in the upcoming weeks.
Sportradar Integrity Services reported a significant decline in match-fixing incidents during 2024, with 1,108 suspicious matches identified across 850,000 monitored events in 70 sports, marking a 17% decrease from 2023. Europe, historically the most affected region, saw a 34% reduction with 439 suspicious matches, while Africa experienced a 36% decrease with 69 cases.
Soccer, the world's most popular sport, recorded 721 suspicious matches, an 18% reduction from 2023. Notably, Brazilian soccer showed a substantial improvement with a 48% decrease, dropping from 110 to 57 suspicious matches.
The company utilized its Universal Fraud Detection System (UFDS), combining AI and advanced data analytics to monitor competitions and identify irregular betting patterns. During 2024, Sportradar provided integrity support for major events including the IOC Summer Olympics, UEFA EURO 2024, and CONMEBOL Copa America 2024.
Sportradar Group AG (NASDAQ: SRAD), a global sports technology company specializing in immersive experiences for sports fans and bettors, has announced its participation in the upcoming UBS Media & Communications Conference. The company's Chief Financial Officer, Craig Felenstein, will engage in a fireside chat scheduled for Tuesday, December 10th, 2024, at 1:30 PM Eastern Time. Interested parties can access the webcast through the company's investor relations website at investors.sportradar.com.
Sportradar Group AG (NASDAQ: SRAD), a global sports technology company, announced its participation in the Morgan Stanley Consumer & Retail Conference. Chief Financial Officer Craig Felenstein will join a fireside chat on Wednesday, December 4th, 2024 at 2:15 pm eastern time. The event will be accessible via webcast through the company's investor relations website at investors.sportradar.com.
Sportradar (NASDAQ: SRAD) has launched generative AI audio, a new feature within its ad:s multi-channel marketing service. This innovative tool combines gen AI with Sportradar's live data to create automated, personalized, real-time audio advertisements for sportsbook and casino operators.
The technology automatically generates customized adverts featuring live-data updates on odds, jackpots, and upcoming events, targeting podcast streaming services and internet radio networks. This addition complements Sportradar's existing marketing services across programmatic display, video, digital-out-of-home, paid social media, search, sponsorships, and affiliate marketing.
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.
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