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Sportradar Group AG (SRAD)
NASDAQ:SRAD
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Sportradar Group AG
(NASDAQ:SRAD)
Rating:77Outperform
Price Target:
$32.00
▲(3.43% Upside)
Positive Factors
Earnings
Sportradar reported Q2 revenue growth of 14% year-over-year, surpassing consensus estimates.
Financial Performance
AEBITDA increased 31% YoY to €64M, also exceeding the €58M consensus, with AEBITDA margin expanding 254 basis points to 20.1%.
Market Position
Sportradar is positioned as a critical player in the online sports betting ecosystem, with capabilities creating a moat around the business.
Negative Factors
Revenue Guidance
Total revenue growth of 14% was below the company’s full-year revenue guidance growth target of 15.5%.
Stock Momentum
The stock is likely losing some of its seasonal momentum tied to U.S. sports betting rights, as investor attention may shift to Genius Sports.
Valuation
Sportradar Group's stock has increased significantly in value, trading at a premium compared to its closest peer, which might limit further upside potential.
Sportradar Group AG (SRAD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.62B
Dividend YieldN/A
Average Volume (3M)1.88M
Price to Earnings (P/E)76.8
Beta (1Y)1.07
Revenue Growth20.14%
EPS Growth335.82%
CountryUS
Employees4,582
SectorTechnology
Sector Strength87
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.17
Shares Outstanding220,584,600
10 Day Avg. Volume1,398,234
30 Day Avg. Volume1,876,655
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.90
Enterprise Value/Revenue7.53
Enterprise Value/Gross Profit12.07
Enterprise Value/Ebitda18.68
Forecast
1Y Price Target
$32.31Price Target Upside4.43% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering17
Sportradar Group AG Business Overview & Revenue Model
Company DescriptionSportradar Group AG, together with its subsidiaries, provides sports data services for the sports betting and media industries in the United Kingdom, the United States, Malta, Switzerland, and internationally. Its sports data services to the bookmaking under the Betradar brand name, and to the international media industry under the Sportradar Media Services brand name. The company offers mission-critical software, data, and content to sports leagues, betting operators, and media companies. In addition, the company provides sports entertainment, gaming solution, and sports solutions, as well as live streaming solution for online, mobile, and retail sports betting. Further, its software solutions address the entire sports betting value chain from traffic generation and advertising technology to the collection, processing, and extrapolation of data and odds, as well as to visualization solutions, risk management, and platform services. Sportradar Group AG was incorporated in 2001 and is headquartered in St. Gallen, Switzerland.
How the Company Makes MoneySportradar Group AG generates revenue primarily through a subscription-based model and data licensing agreements with a diverse range of clients, including sports leagues, media outlets, and betting operators. The company earns substantial income by providing real-time sports data and analytics to its clients, enabling them to offer enhanced betting and viewing experiences. Furthermore, Sportradar monetizes its services by offering integrity services to sports organizations, helping them detect and prevent match-fixing and other unethical practices. Significant strategic partnerships with major sports leagues and organizations, such as the NBA and FIFA, bolster Sportradar's revenue streams by expanding its reach and enhancing its product offerings.
Sportradar Group AG Earnings Call Summary
Earnings Call Date:Aug 05, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 12, 2025
Earnings Call Sentiment Positive
The earnings call highlighted Sportradar's strong financial performance, significant growth in the U.S. market, and successful execution of strategic initiatives like MTS and 4Sight Streaming. The company raised its full-year guidance, indicating confidence in continued momentum. Minor challenges include currency exchange headwinds and a loss-making deal for European leagues. Overall, the positive aspects far outweigh the negatives, showcasing a robust outlook for Sportradar.Q2-2025 Updates
Positive Updates
Record Quarterly Revenues
Sportradar reported all-time record quarterly revenues, up 14% year-over-year, demonstrating the strength and durability of its business model.
Strong U.S. Market Growth
The company saw a 30% growth in the U.S. market and 9% in the rest of the world, reflecting strong market fundamentals.
Managed Trading Service Momentum
MTS saw a 23% turnover growth year-to-date, driven by increased adaptation and new clients. Over 50 new sports books were signed on MTS in 2024.
4Sight Streaming Product Traction
The 4Sight Streaming product is gaining traction, particularly in fast-paced sports, with a 30% uplift in turnover for covered events.
Strong Financial Performance
Adjusted EBITDA increased 31% year-on-year, with an adjusted EBITDA margin expanding approximately 250 basis points to 20.1%.
Positive Free Cash Flow
Sportradar generated $84 million of free cash flow in the first half of the year, with a conversion rate of 68%.
Partnership Expansion
Strengthened partnership with the German Bundesliga to enhance live betting experience, adding new betting opportunities per match.
Increased Full-Year Guidance
The company raised its full-year guidance, anticipating revenues of at least EUR 1.278 billion and adjusted EBITDA of at least EUR 284 million.
Negative Updates
Currency Exchange Headwinds
Sportradar faces headwinds from the further weakening of the U.S. dollar versus the euro.
Loss-Making Deal for European Leagues
The European leagues deal, previously held by IMG ARENA, was considered loss-making and was not included in the pending acquisition.
Company Guidance
During the Sportradar Second Quarter 2025 Earnings Conference Call, the company provided robust guidance with several key metrics. They reported record quarterly revenues of $318 million, which marks a 14% increase year-over-year, and adjusted EBITDA growth of 31% to $64 million, indicating a significant margin expansion. The customer net retention rate was noted at 117%, showcasing strong client loyalty and increased uptake of offerings. Sportradar's U.S. revenue grew by 30%, and the Rest of World revenue rose by 9%, contributing to their comprehensive market presence. They highlighted that 40% of clients now utilize four or more Sportradar products, indicating successful cross-selling and upselling efforts. The Managed Trading Service (MTS) saw a turnover growth of 23% year-to-date, illustrating increased client adoption and market penetration. Furthermore, the company raised its full-year outlook, anticipating revenues of at least EUR 1.278 billion, which represents a growth of at least 16%, and adjusted EBITDA of at least EUR 284 million, reflecting a 28% increase from the previous year.Sportradar Group AG Financial Statement Overview
Summary
Sportradar Group AG demonstrates strong financial health with consistent revenue growth and profitability. The company maintains a prudent balance sheet with low leverage, ensuring financial stability. Cash flow generation is strong, supporting operational and strategic flexibility. While some areas like operating margins and equity funding can be improved, the overall financial position remains solid and supportive of future growth.Income Statement
Sportradar Group AG has shown consistent revenue growth, with a notable increase of 13.91% in the most recent period. The gross profit margin stands strong at 62.42% TTM, reflecting efficient cost management. Net profit margin also improved to 5.11% TTM, showcasing enhanced profitability. However, EBIT margin decreased to 10.79% TTM compared to the previous year, indicating a need to manage operating expenses effectively.85
Very Positive
Balance Sheet
The company maintains a solid balance sheet with a low debt-to-equity ratio of 0.05 TTM, indicating minimal leverage and reduced financial risk. Return on equity is relatively stable at 6.05% TTM, suggesting decent returns for shareholders. However, the equity ratio of 38.32% TTM indicates room for improvement in asset funding through equity.78
Positive
Cash Flow
Sportradar exhibits strong cash flow generation with a significant increase in free cash flow by 25.53% TTM. The operating cash flow to net income ratio is robust at 6.58 TTM, indicating effective cash conversion from profits. However, the free cash flow to net income ratio of 2.67 TTM shows potential for better free cash flow generation relative to net income.80
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.15B | 1.11B | 877.62M | 730.19M | 561.20M | 404.92M |
| Gross Profit | 719.09M | 628.55M | 700.05M | 571.92M | 453.57M | 321.71M |
| EBITDA | 464.65M | 418.59M | 285.01M | 242.64M | 180.98M | 171.20M |
| Net Income | 58.93M | 34.15M | 34.66M | 10.89M | 12.57M | 15.24M |
Balance Sheet | ||||||
| Total Assets | 2.54B | 2.29B | 2.25B | 1.39B | 1.77B | 957.02M |
| Cash, Cash Equivalents and Short-Term Investments | 357.82M | 348.36M | 277.17M | 243.76M | 742.77M | 385.54M |
| Total Debt | 51.40M | 46.72M | 50.15M | 22.84M | 435.35M | 438.68M |
| Total Liabilities | 1.56B | 1.36B | 1.37B | 631.63M | 1.04B | 792.88M |
| Stockholders Equity | 974.67M | 925.15M | 867.79M | 751.59M | 738.82M | 167.28M |
Cash Flow | ||||||
| Free Cash Flow | 157.34M | 125.36M | 58.37M | 5.52M | 1.47M | 57.31M |
| Operating Cash Flow | 388.08M | 353.01M | 258.64M | 168.08M | 132.22M | 151.26M |
| Investing Cash Flow | -254.81M | -254.88M | -202.09M | -246.57M | -333.77M | -98.14M |
| Financing Cash Flow | -47.77M | -36.75M | -17.63M | -459.85M | 539.77M | 274.54M |
Sportradar Group AG Technical Analysis
Positive
30.94
Price Trends
29.15
Positive
26.35
Positive
22.98
Positive
Market Momentum
0.76
Negative
57.16
Neutral
61.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SRAD, the sentiment is Positive. The current price of 30.94 is above the 20-day moving average (MA) of 30.16, above the 50-day MA of 29.15, and above the 200-day MA of 22.98, indicating a bullish trend. The MACD of 0.76 indicates Negative momentum. The RSI at 57.16 is Neutral, neither overbought nor oversold. The STOCH value of 61.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SRAD.
Sportradar Group AG Risk Analysis
Sportradar Group AG disclosed 60 risk factors in its most recent earnings report. Sportradar Group AG reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
The requirements of being a public company may strain our resources and divert management's attention, and additional legal, accounting and compliance expenses may be greater than we anticipate. Q4, 2023
Sportradar Group AG Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $9.62B | 76.83 | 11.80% | ― | 20.14% | 335.82% | |
71 Outperform | $4.72B | 482.28 | 0.59% | ― | 13.36% | ― | |
66 Neutral | $4.68B | ― | -8.21% | ― | 40.60% | 79.56% | |
63 Neutral | $16.65B | ― | -13.62% | ― | -13.74% | 48.10% | |
61 Neutral | $35.42B | 7.71 | -10.08% | 1.88% | 8.71% | -9.18% | |
51 Neutral | $4.22B | ― | -31.02% | ― | 20.42% | -9.39% | |
50 Neutral | $3.00B | ― | -76.08% | ― | 28.35% | 24.57% |
* Technology Sector Average
Performance Comparison
SRAD
Sportradar Group AG
30.94
19.50
170.45%
BILL
Bill.com Holdings
46.42
-6.33
-12.00%
KC
Kingsoft Cloud Holdings
14.77
12.54
562.33%
U
Unity Software
39.41
22.71
135.99%
GRND
Grindr
15.64
3.82
32.32%
ZETA
Zeta Global Holdings Corp
19.64
-5.93
-23.19%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.