Sportradar Group Ag · NASDAQ:SRAD
Sportradar — Q4 2024 Earnings Presentation
33 slides from Sportradar's earnings presentation, Mar 19, 2025
Slide 1: Fourth Quarter & FY 2024 Earnings
FOURTH QUARTER & FY 2024 EARNINGS | March 19, 2025
Slide 2: Disclaimer
DISCLAIMER Certain statements in this press release 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 Litigatio
Slide 3: Delivered Record Performance and Margin Expansion
DELIVERED RECORD PERFORMANCE AND MARGIN EXPANSION Achieved record Q4 revenue, up 22% YoY, grew AEBITDA1 53% and delivered ~400 bps of 1 margin expansion. FY2024 set records for revenue, AEBITDA and Free Cash Flow1. Generated strong free cash flow of €118 million in 2024, up 133% versus last year and
Slide 4: Q4 and FY2024 Financial Highlights
Q4 AND FY2024 FINANCIAL HIGHLIGHTS Strong Execution with with Double-Digit Revenue Grow, Margin Expansion & Significant Cash Flow 4Q 2024 FINANCIAL HIGHLIGHTS Revenue Adjusted EBITDA Adjusted EBITDA margin Customer Net Retention Rate1 (NRR) +22% +53% +408 bps 127% €307MM €61MM 19.7% 2024 FINANCIAL H
Slide 5: Delivering Long-Term Revenue Growth
DELIVERING LONG-TERM REVENUE GROWTH Revenue has ~ doubled in 3 years 5
Slide 6: Unmatched Breadth and Scale in the Global Sports Ecosystem
400 LEAGUES & FEDERATIONS UNMATCHED BREADTH AND 800 BETTING OPERATORS SCALE IN THE GLOBAL SPORTS ECOSYSTEM 900 MEDIA / TECH PARTNERS MATCHES ANNUALLY, ~1MM COVERING ~ 70 SPORTS 6
Slide 7: Extending and Expanding MLB Relationship
EXTENDING AND EXPANDING MLB RELATIONSHIP 71M • Extended and expanded partnership 8 years, through 71M 71M League attendance the 2032 season. MLB MBL League League attendance attendance 1 • Now the exclusive distributor MLB’s ultra-low latency official data, media content and AV content. • MLB has ta
Slide 8: Major Rights Secured Long-Term Providing Strong Cost Visibility
MAJOR RIGHTS SECURED LONG-TERM PROVIDING STRONG COST VISIBILITY Average term remaining for major contracts ~6 yrs • Disciplined and strategic, with a diverse portfolio of exclusive global sports content, including basketball, baseball, soccer, hockey and tennis. • Secured major sports contracts long
Slide 9: Leveraging Deep Data and Technology to Stimulate In-Play
LEVERAGING DEEP DATA AND TECHNOLOGY TO STIMULATE IN-PLAY CLICK TO WATCH VIDEO CLICK TO WATCH VIDEO • Revolutionizing how fans interact with their favorite sport, leveraging deep data & our proprietary technology. A person in a suit AI-generated content may be incorrect. • Automated the collection of
Slide 10: Driving Content ROI by Leveraging Products Across Sports Portfolio & Client Base
DRIVING CONTENT ROI BY LEVERAGING PRODUCTS ACROSS SPORTS PORTFOLIO & CLIENT BASE 4SIGHT STREAMING IN-GAME & MICRO MARKETS MANAGED TRADING SERVICES (MTS) • Award winning audiovisual product, • Launched micro markets in soccer, ATP • Ranked as one of the top bookmakers helping to engage, acquire and r
Slide 11: Strongly Positioned for Brazil Market Expansion
STRONGLY POSITIONED FOR BRAZIL MARKET EXPANSION • Brazil sports betting market expected to grow from $2.1 billion in 2024 to $4.6 billion by 20291 . • 80 OSB licenses granted to date and well over 100 sportsbooks expected to enter the market. • Competitive OSB market with diverse customer needs enab
Slide 12: Agreement to Acquire IMG ARENA
AGREEMENT TO ACQUIRE IMG ARENA 12
Slide 13: Transaction Summary
TRANSACTION SUMMARY • Sportradar has agreed to acquire IMG ARENA’s portfolio of highly strategic sports rights: • Adds depth & breadth in key betting sports including tennis, soccer & basketball. RIGHTS ACQUIRED • Includes 14 sports from 70+ global rightsholders. • Covers ~39,000 official data event
Slide 14: Compelling Strategic Rationale
COMPELLING STRATEGIC RATIONALE 1 Enhances Sportradar’s scale and strengthens position as the premier global B2B sports technology company. Expands coverage providing depth and breadth in the top three betting sports - tennis, basketball, and soccer – 2 boosting Company’s content distribution and fur
Slide 15: IMG ARENA Sports Rights Portfolio
IMG ARENA SPORTS RIGHTS PORTFOLIO Approx 70% of rights spread across top 3 most bet on global sports including basketball, soccer and tennis • Seamlessly integrates into our 14 Sports platform, maximizing monetization and value 70+ Rightsholders • Highly complementary portfolio of rights, aligns wit
Slide 16: Financial Results
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Slide 17: Delivered Strong Revenue and Profitability
DELIVERED STRONG REVENUE AND PROFITABILITY CONSOLIDATED REVENUE (€M) CONSOLIDATED ADJUSTED EBITDA (€M) KEY TAKEAWAYS Q4 2024 • Achieved record revenue of €307mm, up 22%, and grew Adjusted EBITDA 53% YoY. • Grew Adjusted EBITDA margin to 19.7%, up ~400 basis points YoY, reflecting higher revenue and
Slide 18: Summary of Revenue to Adjusted EBITDA
SUMMARY OF REVENUE TO ADJUSTED EBITDA (€M) Q4 2023 Q4 2024 FY 2023 FY 2024 Revenue 253 307 878 1,107 Sport rights expense (75) (103) (214) (352) Adjusted purchased services1 (46) (44) (145) (154) Adjusted personnel expenses1 (66) (73) (258) (283) Adjusted other operating expenses1 (26) (27) (94) (95
Slide 19: Betting Technology & Solutions
BETTING TECHNOLOGY & SOLUTIONS REVENUE (€M) KEY QUARTERLY TAKEAWAYS • Betting Technology and Solutions revenue increased 21% YoY, primarily driven by: • Betting and Gaming Content grew €44 million or 30%, benefiting from new ATP content, existing and new customer uptake of our products, premium pric
Slide 20: Sports Content, Technology & Services
SPORTS CONTENT, TECHNOLOGY & SERVICES REVENUE (€M) KEY QUARTERLY TAKEAWAYS • Sports Content, Technology and Services revenue increased 23% YoY, primarily driven by: • Marketing and Media Services grew €8 million, up 22% YoY, due to strong growth in ad:s revenue due to new and existing customer campa
Slide 21: Sport Rights Expenses and Purchased Services
SPORT RIGHTS EXPENSES AND PURCHASED SERVICES SPORT RIGHTS EXPENSES1 (€M) 352 KEY QUARTERLY TAKEAWAYS 214 • Sport rights expenses were €103 million, up €27 million or 37% YoY, driven largely by our ATP partnership deal. ▲ 103 65% • Adjusted purchased services declined - 75 ▲ 37% 4% YoY and was down 3
Slide 22: Personnel Expenses and Other Operating Expenses
PERSONNEL EXPENSES AND OTHER OPERATING EXPENSES ADJUSTED PERSONNEL EXPENSES (€M) KEY QUARTERLY TAKEAWAYS • Adjusted personnel expenses were €73 million, up €6 million or 9% YoY but were ▲ 10% down approximately 270 basis points as a percent of revenue, as we continue to ▲ manage our headcount and un
Slide 23: Cost Profile and Drivers of Operating Leverage
COST PROFILE AND DRIVERS OF OPERATING LEVERAGE ADJUSTED EBITDA MARGIN & EXPENSES AS A % OF REVENUE KEY TAKEAWAYS • Achieved Adjusted EBITDA margin expansion in 2024. Focus on efficiencies in major costs lines driving operating leverage, offsetting the step up in sport rights costs. • Second consecut
Slide 24: Strong Cash Generation and Liquidity Position
STRONG CASH GENERATION AND LIQUIDITY POSITION Free Cash Flow (€M) Total Liquidity (€M) Revolver Cash and cash equivalents KEY TAKEAWAYS 568 • Grew Free cash flow 133% to a 497 record €118 million in 2024. • Strong balance sheet with 220 increasing liquidity position and no debt outstanding. 220 • To
Slide 25: FY2025 Outlook
FY2025 OUTLOOK 2025 Guidance Metric 2024 Actual Target YoY Increase At least 15% YoY Revenue €1,107 million At least €1,273 million growth Adjusted EBITDA €222 million At least 26% YoY At least €281 million growth At least 200 basis Adjusted EBITDA margin 20.1% At least 22.1% points expansion YoY Co
Slide 26: Q&A
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Slide 27: Appendix
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Slide 28: Non-IFRS Financial Measures and Operating Metrics
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, Adjusted EBITDA margin, Adjusted purchased services, Adjusted personnel expenses, Adjusted other operating exp
Slide 29: Non-IFRS Financial Measures and Operating Metrics
NON-IFRS FINANCIAL MEASURES AND OPERATING METRICS We present Adjusted purchased services, Adjusted personnel expenses, and Adjusted other operating expenses (together, "Non-IFRS expenses") because management utilizes these financial measures to manage its business on a day-to-day basis and believes
Slide 30: Q4 P&L and Adjusted EBITDA Reconciliation
Q4 P&L AND ADJUSTED EBITDA RECONCILIATION Three-Month Period Ended Three-Month Period Ended December 31, December 31, December 31, December 31, in €'000 2024 20231 in €'000 2024 2023 Continuing operations Profit for the period from continuing operations (1,305) 23,187 Revenue 307,070 252,586 Finance
Slide 31: FY 2024 P&L and Adjusted EBITDA Reconciliation
FY 2024 P&L AND ADJUSTED EBITDA RECONCILIATION Year Ended Year Ended December 31, December 31, December 31, December 31, in €'000 2024 20231 in €'000 2024 2023 Continuing operations Profit for the period from continuing operations 33,612 34,645 Revenue 1,106,556 877,621 Finance income (10,952) (12,8
Slide 32: IFRS Expenses to Non-IFRS Expenses Bridge
IFRS EXPENSES TO NON-IFRS EXPENSES BRIDGE Three-Month Period Ended Year Ended December 31, December 31, December 31, December 31, in €'000 2024 20231 2024 20231 Non-capitalized sport right expenses 35,232 12,425 118,490 54,171 Amortization of capitalized sport rights 67,342 62,687 233,945 160,018 To
Slide 33: Free Cash Flow Reconciliation
FREE CASH FLOW RECONCILIATION Three-Month Period Ended Year Ended December 31, December 31, December 31, December 31, in €'000 2024 20231 2024 20231 Net cash from operating activities 82,157 52,197 353,011 258,645 Acquisition of intangible assets (82,123) (40,408) (222,288) (185,493) Acquisition of