Sportradar Group Ag · NASDAQ:SRAD
Sportradar — Q3 2023 Earnings Presentation
20 slides from Sportradar's earnings presentation, Nov 1, 2023
Slide 1: Third Quarter 2023 Financial Results
THIRD QUARTER 2023 FINANCIAL RESULTS | November 1, 2023
Slide 2: Disclaimer
DISCLAIMER Certain statements in this presentation may constitute “forward-looking” statements and information within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation
Slide 3: Business Overview
<<< BUSINESS OVERVIEW 01 01 02 03 04 << <<<
Slide 4: 2023 Updated Guidance
2023 UPDATED GUIDANCE GUIDANCE YoY INCREASE Revenue €870 - 880m 19% - 21% Adjusted EBITDA1 €162 - 167m 29% - 33% Adjusted EBITDA Margin1 18.4% to 19.2% 1 Non-IFRS financial measure; see the Appendix for defined terms and reconciliations of non-IFRS measures to IFRS measures. 4
Slide 5: Third Quarter 2023 Highlights
THIRD QUARTER 2023 HIGHLIGHTS Revenue (€ million) Adjusted EBITDA1 (€ million) Adjusted EBITDA Margin1 201 50 25% Revenue Growth Adjusted EBITDA1 Growth Adjusted EBITDA Margin1 Expansion +12% +38% +471bps Y-o-Y Growth ▲ Y-o-Y Growth ▲ Y-o-Y Growth ▲ 1 Non-IFRS financial measure; see the Appendix for
Slide 6: Recent Company Highlights
RECENT COMPANY HIGHLGIHTS Deals and Extensions Taiwan Sport Lottery Company Sportradar Awards Live Streaming Supplier Marketing & Services Provider of the Year Sports Betting Provider of the Year Leaders in AI 100 6
Slide 7: Growing with NBA and adding value through our content portfolio
GROWING WITH NBA AND ADDING VALUE THROUGH OUR CONTENT PORTFOLIO Next Gen Telecast FanID & Betting Engagement Coaching & Analytics • AI-driven insights, plus instant generated virtualized • Automated tooling to drive team specific objectives via • Interact with 3D re-creation of the game in real-time
Slide 8: Financial Overview
<<< FINANCIAL OVERVIEW 02 01 02 03 04 << <<<
Slide 9: Third Quarter Highlights
THIRD QUARTER HIGHLIGHTS Key Metrics Revenue Growth Adjusted EBITDA growth1 Adjusted EBITDA margin1 +12% +38% +471bps Y-o-Y Growth ▲ Y-o-Y Growth ▲ Y-o-Y Growth ▲ Product Revenue Growth U.S. Betting & Gaming and AV Live Data & Live Odds MBS +19% +18% +7% Y-o-Y Growth ▲ Y-o-Y Growth ▲ Y-o-Y Growth ▲
Slide 10: RoW Betting
RoW BETTING REVENUE (€m) +11% HIGHLIGHTS 112 • Revenue growth driven by and Live Odds and Data ( +18%) and Managed Betting Services (MBS, +7%). 101 • Strong Live Odds and Data growth was mainly driven by the upselling and cross selling to existing customers, acquisition of new customers as well as d
Slide 11: RoW Audiovisual
RoW AUDIOVISUAL REVENUE (€m) 15% HIGHLIGHTS • Revenue increase was aided by new CONMEBOL and MLB rights and further growth in sales to existing and new 38 customers. 33 Q3 2022 Q3 2023 ADJUSTED EBITDA1 (€m) +5% HIGHLIGHTS • Adjusted EBITDA1 slightly increased due to higher content 13 13 coverage as
Slide 12: United States
UNITED STATES REVENUE (€m) +11% HIGHLIGHTS • Revenue growth was due to growth in core betting products. 35 • Betting & Gaming and Audio Visual grew 19%. 32 Q3 2022 Q3 2023 ADJUSTED EBITDA1 (€m) HIGHLIGHTS +137% • Adjusted EBITDA1 increased by 137% mainly driven by 8 revenue growth while cost of sale
Slide 13: Cost Analysis
COST ANALYSIS COSTS (€m) Purchased services Personnel expenses HIGHLIGHTS +10% 75 +8% • Purchased services increase reflects investments in IT 68 7m 11m development and greater event coverage. Share-based Share-based • Personnel expenses increase due to FTE growth, YoY by 465 compensation compensati
Slide 14: Cash Flow and Liquidity
CASH FLOW AND LIQUIDITY Three Months Ended September 30 • As of September 30, 2023, total liquidity is €510 million in € million 2023 2022 comprised of €290 million cash and cash equivalents and €220 Cash and cash equivalents as of June 1 264 716 million credit facility. • As of September 30, 2022,
Slide 15: 2023 Updated Guidance
2023 UPDATED GUIDANCE GUIDANCE YoY INCREASE Revenue €870 - 880m 19% - 21% Adjusted EBITDA1 €162 - 167m 29% - 33% Adjusted EBITDA Margin1 18.4% to 19.2% 1 Non-IFRS financial measure; see the Appendix for defined terms and reconciliations of non-IFRS measures to IFRS measures. 15
Slide 16: Sportradar - Q&A
sp@rtradar SPORTS TECHNOLOGY. REIMAGINED. Q&A O03 01 02 04
Slide 17: Appendix
<<< APPENDIX 04 01 02 03 04 << <<<
Slide 18: Non-IFRS Financial Measures
NON-IFRS FINANCIAL MEASURES 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 (together, the “Non-IFRS financial measures”), as well a
Slide 19: Non-IFRS Reconciliation – Adjusted EBITDA & Margin
NON-IFRS RECONCILIATION – ADJUSTED EBITDA & MARGIN Three Months Ended September 30 2023 2023 2022 2022 €'000 % of revenue €'000 % of revenue Profit for the period from continuing operations 4,615 2% 12,750 7% Share based compensation 11,368 6% 7,348 4% Litigation costs1 - - 2,975 2% Professional fee
Slide 20: Non-IFRS Reconciliation – Adjusted EBITDA & Margin
NON-IFRS RECONCILIATION – ADJUSTED EBITDA & MARGIN Nine Months Ended September 30 2023 2023 2022 2022 €'000 % of revenue €'000 % of revenue Profit for the period from continuing operations 11,458 2% 43,774 8% Share based compensation 31,340 5% 20,035 4% Litigation costs1 - - 6,146 1% Professional fe