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 announced a new partnership with FanDuel Group, extending their official NBA data agreement through the 2030-31 season. This deal allows Sportradar to provide FanDuel with official NBA data and innovative betting products. Notably, FanDuel becomes the first North American operator to utilize Sportradar’s NBA data. The collaboration aims to enhance sports betting experiences, incorporating player tracking data for new betting options. Sportradar's CEO highlighted the partnership's significance in advancing sports betting markets in the U.S.
Sportradar (NASDAQ: SRAD) has launched a revamped NHL.TV, the NHL's international OTT subscription service, coinciding with the 2022-23 NHL season. The service is available in over 120 countries, providing personalized viewing experiences with live game streams, highlights, and on-demand content. Sportradar is responsible for the entire workflow of NHL.TV, enhancing user experience across various platforms. This initiative follows a 10-year partnership with the NHL, granting Sportradar data and streaming rights, while also safeguarding competition integrity.
Sportradar Group AG (NASDAQ:SRAD) will announce its third quarter financial and operating results on November 16, 2022, followed by an earnings call at 8:00 a.m. ET. The call will be accessible via Sportradar’s Investor Relations website.
As a leading global sports technology company, Sportradar provides solutions to sports federations and betting operators, covering over 890,000 events across 92 sports annually, and partners with major leagues like the NBA and FIFA.
Sportradar Group AG (NASDAQ: SRAD) reported a 23% increase in overall revenue to €177.2 million for Q2 2022, driven by a 66% surge in U.S. revenue, reaching €29.1 million. Despite these gains, Adjusted EBITDA decreased by 13% to €27.6 million, with a margin drop to 16%. The company upgraded its 2022 revenue outlook to €695-715 million, reflecting growth of 24% to 27% year-over-year. Cash and equivalents stood at €715.6 million, and net retention was strong at 115%. Notably, the CFO announced his departure, with Ulrich Harmuth appointed interim CFO.
Sportradar has launched Virtual NBA, a new AI-driven betting solution as part of its ongoing partnership with the NBA. This innovative platform offers gaming operators approximately 3,000 gaming opportunities daily, with each game featuring 12 betting markets. The system utilizes NBA data to create realistic basketball simulations, providing a rich experience for fans, even during the off-season. With a successful track record of virtual betting, Sportradar aims to enhance fan engagement and betting options globally across licensed jurisdictions.
Sportradar Group AG (NASDAQ:SRAD) will announce its financial results for the second quarter ending June 30, 2022, on August 17, 2022. The earnings call will take place at 8:00 a.m. ET the same day. Sportradar, a global leader in sports technology, serves over 1,700 customers in more than 120 countries, delivering insights and solutions across sports, media, and betting sectors. Established in 2001, the company covers over 890,000 events across 92 sports annually, enhancing fan engagement and safeguarding sports integrity.
Sportradar Group AG (NASDAQ:SRAD) is set to announce its financial and operational results for Q2 2022 on August 17, 2022. The release will be followed by a live webcast at 8:00 a.m. ET, allowing participants to engage in a Q&A session. Sportradar, established in 2001, is a premier sports technology firm offering innovative solutions for sports federations, media, and betting operators. The company serves over 1,700 clients globally and covers more than 890,000 events across 92 sports annually.
Sportradar (NASDAQ: SRAD) has appointed Eric Conrad as Managing Director, Strategic Partnerships & Content for North America. In this newly established role, he will oversee the US Sports Content and Partnerships team, which has secured significant partnerships with major leagues such as the NHL, NBA, and MLB. Conrad brings over 20 years of experience, having held key positions at Univision, ESPN, MLB, and the NBA. His role aims to enhance commercial returns and foster long-term partnerships during a period of rapid growth in the North American market.
Sportradar (NASDAQ:SRAD) has launched Virtual Cricket In-Play, marking the first in-play virtual-betting solution for cricket. Utilizing Sportradar’s extensive historical data, it offers fans a real-match experience. With around 2.5 billion cricket fans and an annual bet turnover of €80 billion, this innovation opens new business avenues for sportsbook operators. The product features hyper-real 3D graphics, enabling 56 live matches a season and over 10,000 betting opportunities. This launch further enriches Sportradar's diverse portfolio of virtual sports betting solutions.
Sportradar Group AG (NASDAQ: SRAD) reported a significant 31% increase in revenue for Q1 2022, totaling €167.9 million ($186.4 million), driven by a remarkable 124% growth in U.S. revenue to €25.7 million ($28.5 million). Adjusted EBITDA decreased by 5% to €26.7 million ($29.6 million), with a margin of 16%. However, adjusted free cash flow surged 100% to €12.9 million, yielding a conversion rate of 48%. Sportradar reiterated its fiscal 2022 outlook, projecting revenue growth of 18% to 25%.
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