- Sportradar press release ( NASDAQ: SRAD ): Q3 Adj. EBITDA of $35.8M
- Revenue of $175.2M (+31% Y/Y) misses by $1.48M .
- The RoW Betting segment, accounting for 56% of total revenue, grew 28% to €100.9 million ($98.9 million), driven by strong performance from our Managed Betting Services.
- U.S. segment revenue grew 61% to €31.6 million ($31.0 million) compared to the third quarter of 2021, driven by strong market growth and positive adoption of in-play betting. The U.S. segment turned profitable for the first time since the Company’s initial public offering and generated a positive Adjusted EBITDA margin of 11%.
- Outlook:
- Sportradar has raised its revenue outlook for fiscal 2022 to a range of €718.0 million to €723.0 million ($703.6 million to $708.5 million vs consensus of $727.20M), from its previous range of €695.0 million to €715.0 million representing prospective growth of 28% to 29% over fiscal 2021.
- Outlook for Adjusted EBITDA is narrowed to a range of €124.0 million to €127.0 million ($121.5 million to $124.5 million) 1 from the previous range of €123.0 million to €133.0 million, representing 22% to 24% growth versus last year.
- Adjusted EBITDA margin is expected to be in the range of 17% to 18%.
For further details see:
Sportradar reports Q3 results, raises FY outlook