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 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%.
Sportradar Group AG (NASDAQ:SRAD) will publish its financial results for the first quarter of fiscal 2022, ending March 31, 2022, on May 18, 2022. A conference call to discuss these results will occur at 8:00 a.m. ET the same day. Interested participants can join via Sportradar’s Investor Relations website or by dialing in. The company is recognized as a leading global sports technology firm, serving over 1,700 clients in more than 120 countries, and focuses on enhancing the sports experience while maintaining integrity in the industry.
Sportradar (NASDAQ: SRAD) has acquired Vaix Limited, a leader in AI solutions for the iGaming sector. This acquisition enhances Sportradar's Managed Trading Services (MTS) platform, enabling betting operators to provide personalized experiences to customers. With a history of partnering for over two years, Sportradar integrates Vaix's AI capabilities into its services, boosting user engagement. Although the acquisition's financial terms remain undisclosed, it is not anticipated to affect the company's 2022 financial outlook significantly.
Sportradar (NASDAQ: SRAD) has launched the Sportradar Integrity Exchange, a new network enabling bookmakers to report suspicious betting activity, enhancing global match-fixing investigations. This initiative is offered at no charge and includes access to exclusive data, integrity expertise, and educational resources. Sportradar Integrity Services, recognized as the leader in sports integrity, has identified over 6,600 suspicious matches in 17 years and detected 903 in 2021 alone. The exchange aims to foster bookmaker contributions to combat match-fixing, furthering Sportradar's integrity mission.
Sportradar Group AG (NASDAQ: SRAD) announced that its subsidiary has received a gaming supplier registration for online/mobile wagering from the Alcohol and Gaming Commission of Ontario. This follows Ontario's launch of legalized sports betting and iGaming on April 4, 2022. Sportradar now holds 36 licenses in North America, ensuring its data services are delivered to various gaming agencies. The company continues to expand its integration within the sports, media, and betting industries, partnering with major North American sports leagues.
Sportradar Group AG (NASDAQ: SRAD) has filed its annual report on Form 20-F for the fiscal year ended December 31, 2021, with the SEC on March 31, 2022. This report can be accessed via the company’s investor relations site or the SEC’s website. Sportradar, a global sports technology leader, supports over 1,700 clients in 120 countries, covering 890,000 events across 92 sports annually. The company emphasizes its commitment to quality and reliability, partnering with prominent sports organizations like NBA and FIFA.
Sportradar Group AG (NASDAQ: SRAD) reported a significant growth in Q4 2021 with a revenue increase of 41% to €152.4 million and a full-year revenue increase of 39% to €561.2 million, surpassing expectations. Adjusted EBITDA for the full year rose 33% to €102.0 million, while cash reserves stood at €742.8 million. The company anticipates a 2022 revenue growth of 18% to 25%, reaching €665 million to €700 million. Notably, Sportradar secured multiyear partnerships with major leagues including the NHL and NBA, enhancing its market position as a leading technology provider in sports betting.
Sportradar Integrity Services reported a record number of suspicious matches in 2021, with 903 cases detected—an increase of 2.4% from the previous high in 2019. This surge coincided with a global betting turnover exceeding €1.45 trillion, generating approximately €165 million from match-fixing profits. Soccer was the most affected sport, with significant issues in lower-tier competitions. Sportradar is committed to integrity, supporting 65 sanctions and emphasizing the need for education to combat match-fixing further.
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?
