Business
Sportradar Reports Strong Growth in Fourth Quarter and Full Year 2021
Fourth quarter revenue grew 41% while full year 2021 revenue grew 39%, exceeding Company’s outlookAnnual revenue surpasses €500 million for the first time in
About this update from Sportradar Group Ag
[{"type":"text","content":"Fourth quarter revenue grew 41% while full year 2021 revenue grew 39%, exceeding Company’s outlookAnnual revenue surpasses €500 million for the first time in Company’s historyCompany projects solid annual revenue growth of 18% to 25% in fiscal 2022Secured multiyear partnerships with NHL, NBA, ITF, ICC, UEFA, Bundesliga ST. GALLEN, Switzerland, March 30, 2022 (GLOBE NEWSWIRE) -- Sportradar Group AG (NASDAQ: SRAD) (“Sportradar” or “the Company”), a leading global technology company enabling next generation engagement in sports, and the number one provider of business-to-business solutions to the global sports betting industry, today announced financial results for its fourth quarter and full year ended December 31, 2021. Full Year 2021 Highlights and Annual Outlook Revenue for the full year of 2021 increased 39% to €561.2 million ($634.2 million)1 compared with the prior year, driven by strong growth across all business segments. Full year revenue exceeded the top end of the Company’s 2021 annual outlook range of €553 - €555 million.Adjusted EBITDA2 for the full year of 2021 increased 33% to €102.0 million ($115.3 million)1 compared with the prior year. Full year Adjusted EBITDA exceeded the top end of the Company’s 2021 annual outlook range of €99.5 - €101.5 million.Adjusted EBITDA2 for 2021 excluding Sportradar’s September 2021 Initial Public Offering (IPO) costs was €113.7 million ($128.5 million)1.Adjusted EBITDA margin2 for 2021 was 18% compared with 19% for 2020. Excluding IPO costs, Adjusted EBITDA margin was 20% for 2021.Strong Dollar-Based Net Retention Rate2 increased to 125% for fiscal 2021 compared with 113% for fiscal 2020 highlighting the continued success of the Company’s cross-sell and upsell strategy across its global customer base.Cash and cash equivalents totaled €742.8 million as of December 31, 2021. Total liquidity available for use at December 31, 2021, including undrawn credit facilities was €852.8 million. Sportradar extended multiyear partnerships with the National Hockey League (NHL), National Basketball Association (NBA), International Tennis Federation (ITF) and Bundesliga International, in addition to securing new deals with the International Cricket Council (ICC) and the Union of European Football Associations (UEFA). These deals reinforce Sportradar’s leadership as a trusted technology and data part...