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) announced the appointment of Gerard Griffin as Chief Financial Officer, effective May 9, 2023. Griffin, previously at Zynga Inc., brings over 25 years of financial management experience within the gaming and technology sectors. He will oversee accounting, finance, and investor relations, directly reporting to CEO Carsten Koerl. Griffin's tenure at Zynga included improving revenues, profitability, and cash flow. He has also served at Electronic Arts and managed senior finance roles in other prominent companies. Koerl expressed confidence in Griffin's leadership to drive growth and profitability. Griffin emphasized his eagerness to contribute to Sportradar's success in the sports technology industry.
Sportradar Group AG (NASDAQ: SRAD) has announced the election of Rajani Ramanathan and William Kurtz as independent members of its Board of Directors during the annual general meeting on May 16, 2023, in St. Gallen, Switzerland. Ramanathan, an advisor to multiple tech companies, holds various board roles, including at ESI Group. She previously served as Chief Operating Officer at Salesforce. Kurtz brings over 30 years of experience as CFO and COO in tech firms and currently is on the boards of Aterian Inc. and Verint Systems. He is expected to chair the audit committee if elected. Chuck Robel, who has been on the board since September 2020 and chaired the audit committee, will not stand for re-election. Chairman Jeffery Yabuki expressed gratitude for Robel's service and optimism about the new candidates' contributions to Sportradar's growth.
Sportradar Group AG (NASDAQ: SRAD) will announce its financial results for Q1 2023 on May 10, 2023. The company, a leader in sports technology, specializes in B2B solutions for the global sports betting industry. An earnings call will be held on the same day at 8:00 a.m. EDT to discuss the results.
Sportradar has established itself as a key player in the sports industry, partnering with major organizations like the NBA, NHL, and FIFA. The company covers nearly one million events annually and is recognized for its Integrity Services division, which promotes fair play in sports.
Sportradar Group AG (NASDAQ: SRAD) has filed its annual report on Form 20-F for the fiscal year ended December 31, 2022, with the SEC on March 15, 2023. This report is accessible via the company's investor relations website and the SEC's website. Shareholders can request a free paper copy of the report containing audited financial statements. Founded in 2001, Sportradar is a leading global sports technology company, engaged in providing solutions for sports federations, news media, consumer platforms, and sports betting operators. The company maintains partnerships with major organizations like the NBA, FIFA, and NHL, offering services across nearly a million events annually.
Sportradar Group AG (NASDAQ: SRAD) reported a 30% increase in full year 2022 revenue, totaling €730.2 million, exceeding its annual outlook. Fourth quarter revenue rose 35% to €206.3 million, driven by a 77% growth in U.S. segment revenue and a positive Adjusted EBITDA for the second consecutive quarter. The company expects 2023 revenue growth of 24% to 26%, targeting €902.0 million to €920.0 million, and Adjusted EBITDA growth of 25% to 33%, aiming for €157.0 million to €167.0 million. Notable investments include AI technologies and new multi-year agreements with major sports organizations.
Sportradar, a subsidiary of Sportradar Group AG (NASDAQ: SRAD), has secured the global ATP data and betting streaming rights effective from 2024. This decision follows a rigorous RFP process led by Tennis Data Innovations (TDI), which began in January 2023 with five competing bidders. The contract spans six years and is expected to enhance Sportradar's innovative offerings, leveraging advanced technologies such as AI and computer vision for better engagement in tennis. The selection indicates TDI's belief in Sportradar's capabilities to support the growth of tennis and improve fan experiences through top-tier data products.
Sportradar Group AG (NASDAQ:SRAD) will announce its financial results for Q4 and the full year ended December 31, 2022, on March 15, 2023. An earnings call will follow at 8:00 a.m. EDT on the same day.
The company, a global leader in sports technology, offers services to sports federations, media outlets, and betting operators. Employing over 3,700 personnel across 20 countries, Sportradar partners with more than 1,700 clients in 120+ countries. It annually covers over 890,000 events across 92 sports, underscoring its commitment to providing reliable sports technology solutions.
Sportradar (NASDAQ: SRAD) announced the appointment of Severine Riviere as Chief People Officer, effective immediately. With over 20 years of experience in global human resource management, Riviere will oversee Sportradar's human resources strategy, focusing on talent management and workplace culture. She previously served as Chief Human Resources Officer at Fyffes International, where she improved operational efficiency. CEO Carsten Koerl expressed confidence in Riviere's impact on the company's culture and transformation. Sportradar is a leading global sports technology company committed to enhancing the sports fan experience and providing reliable services.
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