SRAD - Sportradar Announces Participation in Upcoming Conferences and Affirms 2023 Annual Guidance | Benzinga
ST. GALLEN, Switzerland, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Sportradar Group AG (NASDAQ:SRAD) ("Sportradar" or the "Company"), a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, today announced that Gerard Griffin, the Company's Chief Financial Officer, will participate in the following two conferences in September:
- Citi's 2023 Global Technology Conference at the Hilton Midtown hotel in New York City on Wednesday, September 6, 2023. Sportradar will host investor meetings during the conference.
- Bank of America's Annual Gaming and Lodging Conference at the Bank of America Tower in New York City on September 7, 2023. Sportradar will host investor meetings during the conference.
Sportradar is reaffirming its annual outlook range provided on August 9, 2023 for revenue and Adjusted EBITDA1 for fiscal 2023 as follows:
- Revenue in the range of €902.0 million to €920.0 million, representing growth of 24% to 26% over fiscal 2022.
- Adjusted EBITDA1 in a range of €157.0 million to €167.0 million, representing 25% to 33% growth versus last year.
- Adjusted EBITDA margin1 in the range of 17% to 18%.
Sportradar is also providing additional guidance on the relative weighting of revenue and Adjusted EBITDA1 in the third and fourth quarters of fiscal 2023 as follows:
- Third quarter 2023 should represent approximately 43% of our second half revenue and 52% of our second half Adjusted EBITDA1.
- Fourth quarter 2023 should represent approximately 57% of our second half revenue and 48% of our second half Adjusted EBITDA1.
About Sportradar
Sportradar Group AG (NASDAQ:SRAD), founded in 2001, is a leading global sports technology company creating immersive experiences for sports fans and bettors. Positioned at the intersection of the sports, media and betting industries, the Company provides sports federations, news media, consumer platforms and sports betting operators with a best-in-class range of solutions to help grow their business. As the trusted partner of organizations like the NBA, NHL, MLB, NASCAR, UEFA, FIFA, Bundesliga, ICC and ITF, Sportradar covers close to a million events annually across all major sports. With deep industry relationships and expertise, Sportradar is not just redefining the sports fan experience, it also safeguards sports through its Integrity Services division and advocacy for an integrity-driven environment for all involved.
For more information about Sportradar, please visit www.sportradar.com
CONTACT:
Investor Relations:
Christin Armacost, CFA, Manager Investor Relations
investor.relations@sportradar.com
Media:
Sandra Lee, EVP of Global Communications
press@sportradar.com
Non-IFRS Financial Measures and Operating Metrics
We have provided in this press release financial information that has not been prepared in accordance with IFRS, including Adjusted EBITDA and Adjusted EBITDA margin. We use these non-IFRS financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to IFRS measures, in evaluating our ongoing operational performance. We believe that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-IFRS financial measures to investors.
Non-IFRS financial measures should not be considered in ...