Competitive PositionSportradar's position as the scaled market leader in the B2B sports data and technology space has enabled it to develop sticky relationships with its large and diverse customer base, helping the company grow well in excess of the global sports betting market over recent years.
Financial PerformanceSportradar’s free cash flow conversion is improving from ~30% last year to ~50%, and the company is anticipated to be more aggressive with share repurchases should the stock remain at or near current levels.
Market ExpansionThe launch of regulated online sports betting in Brazil is expected to provide incremental revenue upside from market expansion with minimal incremental investment.