Sportradar Group AG reported third‑quarter 2025 revenue of €292 million (≈$315 million), falling 1.04 % short of the consensus estimate of €295.11 million (≈$319 million). The figure represents a 14 % year‑over‑year increase from €255.17 million in Q3 2024, driven by a 31 % rise in the Sports Content, Technology & Services segment and an 11 % rise in Betting Technology & Solutions. Lower foreign‑currency gains, however, offset the upside and contributed to the modest revenue miss.
Earnings per share came in at $0.07, missing the consensus of $0.08 (or $0.10) by $0.01, a 12.5 % to 20 % shortfall. Net profit declined 39 % year‑over‑year to €22.5 million from €37 million, largely because of reduced foreign‑currency gains and higher costs associated with U.S. dollar‑denominated sports rights.
Adjusted EBITDA reached €85 million, up 29 % from €65 million in Q3 2024, and the margin expanded to 29 % from 24.6 %. The improvement reflects a higher mix of high‑margin services and operational leverage, even as rights‑related costs increased.
Management raised its full‑year 2025 guidance, projecting revenue of at least €1.29 billion (17 % year‑over‑year growth) and adjusted EBITDA of at least €290 million (30 % year‑over‑year growth). The new outlook surpasses the prior guidance of €1.25 billion revenue and €260 million EBITDA, signaling confidence in continued growth, especially after the acquisition of IMG ARENA.
CEO Carsten Koerl highlighted strong topline growth, record margins, and robust cash flow, attributing momentum to premium content, a diversified product portfolio, and AI‑driven solutions. CFO Craig Felenstein noted a 114 % customer net‑retention rate and emphasized the integration of IMG ARENA as a key growth lever.
Despite the guidance lift, market participants reacted to the earnings miss and the company’s high valuation of 66× earnings. Analysts pointed to the EPS shortfall and revenue miss as the primary drivers of the muted response, while acknowledging the long‑term upside from margin expansion and the strategic benefits of the IMG ARENA acquisition.
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