Sportradar Group Ag · NASDAQ:SRAD
Sportradar — Q4 2025 Earnings Presentation
32 slides from Sportradar's earnings presentation, Mar 3, 2026
Slide 1: Fourth Quarter & FY 2025 Earnings
FOURTH QUARTER & FY 2025 EARNINGS | March 3, 2026
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 with Strong Operating Momentum
DELIVERED RECORD PERFORMANCE WITH STRONG OPERATING MOMENTUM Achieved record Q4 revenue of €369 million, up 20% YoY, grew Adjusted EBITDA1 48% YoY, expanded 1 Adjusted EBITDA margin1 to 24%. For FY 2025 set records for revenue, AEBITDA and Free Cash Flow1. Generated record Free Cash Flow of €167 mill
Slide 4: Q4 and 2025 Financial Highlights
Q4 AND 2025 FINANCIAL HIGHLIGHTS Strong Execution with Double-Digit Revenue Growth, Margin Expansion & Significant Free Cash Flow Q4 2025 FINANCIAL HIGHLIGHTS Revenue Adjusted EBITDA Adjusted EBITDA Margin Net Retention Rate1 +20% +48% +451bps 109% €369MM €89MM 24.2% 2025 FINANCIAL HIGHLIGHTS 2025 F
Slide 5: Delivering Long-Term Revenue Growth
DELIVERING LONG-TERM REVENUE GROWTH (€MM) 5
Slide 6: Extensive Breadth and Scale in the Global Sports Ecosystem
400 LEAGUES & FEDERATIONS EXTENSIVE BREADTH AND 800 BETTING OPERATORS SCALE IN THE GLOBAL SPORTS ECOSYSTEM 900 MEDIA & TECH PARTNERS MATCHES >1MM ANNUALLY, COVERING 85 SPORTS 6
Slide 7: Key Elements of Our Revenue Growth Strategy
KEY ELEMENTS OF OUR REVENUE GROWTH STRATEGY Capitalize on Drive Take Rate Expand into Drive Innovation & Market Growth Including Capturing Adjacent Markets Reduce Growth with Our Depth, Additional Share of In- with Primary Focus on Barriers Breadth, & Scale Play Betting iGaming by Leveraging Technol
Slide 8: IMGA Integration
sp@rtradar SPORTS TECHNOLOGY. . REIMAGINED, IMGA INTEGRATION
Slide 9: Sportradar + IMGA: Unlocking Significant Revenue and Cost Synergies
SPORTRADAR + IMGA: UNLOCKING SIGNIFICANT REVENUE AND COST SYNERGIES On track to unlock anticipated revenue synergies of 25% for IMGA in 2026 COMPLEMENTARY LEVERAGE GLOBAL ENHANCED CORE STRONG INITIAL UNLOCKING COST PORTFOLIO SCALE & NETWORK PRODUCT SUITE ADOPTION SYNERGIES Adds a highly Leveraging o
Slide 10: Complimentary Portfolio of Premium Sports Rights
COMPLIMENTARY PORTFOLIO OF PREMIUM SPORTS RIGHTS Sportradar Properties GGR Existing Properties Acquired IMGA Properties SOCCER ~$71bn GGR BASKETBALL ~$14bn GGR TENNIS ~$7bn GGR 1. Soccer, Basketball and Tennis account for ~73% of Sports betting GGR in 2025 as per H2 Gaming 10
Slide 11: Operational Highlights
<<< OPERATIONAL HIGHLIGHTS << <<<
Slide 12: Record Streaming Numbers Expected in 2026
RECORD STREAMING NUMBERS EXPECTED IN 2026 Our 4Sight streaming product has been upgraded to deliver deeper storytelling and contextual, data rich visualizations Over 700K streams Product innovation combined with increased sports anticipated across all sports coverage are boosting streaming activity
Slide 13: Strong MTS Momentum and Record 2025 Turnover
STRONG MTS MOMENTUM AND RECORD 2025 TURNOVER € Turnover p.a. 2025 headlines: 43.8bn 35.0bn +26% Turnover 79% CAGR MTS Turnover in 2025 vs 2024 27.4bn 23.1bn 967k Matches 13.1bn Up from 890k in 2024 6.6bn 4.8bn 2.5bn 0.1bn 0.7bn 1.4bn 77m Bettors 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Slide 14: Powering NBA Fan Experiences Across NBC Networks
POWERING NBA FAN EXPERIENCES ACROSS NBC NETWORKS Customized build of 4Sight tech powering Multi-year agreement with NBC Sports Regional NBC Peacock Performance View Networks, enhancing NBA experience ▸ Giving fans a new, insight-driven perspective of the action on ▸ Cutting-edge broadcast solution l
Slide 15: Expanding Foundational AI Model to Tennis and Soccer
EXPANDING FOUNDATIONAL AI MODEL TO TENNIS AND SOCCER Our foundation model harnesses player tracking data to fuel next generation of AI-driven products Foundation model now built Our first-of-its-kind generative foundation model for basketball, trained on billions of 3D body-pose data points delivers
Slide 16: Financial Results
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Slide 17: Delivered Strong Revenue and Profitability
DELIVERED STRONG REVENUE AND PROFITABILITY CONSOLIDATED REVENUE (€MM) CONSOLIDATED ADJUSTED EBITDA (€MM) KEY TAKEAWAYS Q4 2025 • Achieved record fourth quarter revenue of €369mm, up 20%, due to increased client spending, contributions from IMGA and growth in U.S. revenues, partially offset by FX hea
Slide 18: Summary of Revenue to Adjusted EBITDA
SUMMARY OF REVENUE TO ADJUSTED EBITDA (€MM) Q4 2024 Q4 2025 FY 2024 FY 2025 Revenue 307 369 1,107 1,290 Sport rights expense (103) (122) (352) (404) Adjusted purchased services1 (44) (45) (154) (174) Adjusted personnel expenses1 (73) (79) (283) (311) Adjusted other operating expenses1 (27) (34) (95)
Slide 19: Betting Technology & Solutions
BETTING TECHNOLOGY & SOLUTIONS REVENUE (€MM) KEY QUARTERLY TAKEAWAYS • Betting Technology and Solutions revenue increased 24% YoY, primarily driven by: • Betting and Gaming Content grew €56 million or 29%, benefiting from uptake of our content and products, contributions from IMGA and U.S. market gr
Slide 20: Sports Content, Technology & Services
SPORTS CONTENT, TECHNOLOGY & SERVICES REVENUE (€MM) KEY QUARTERLY TAKEAWAYS • Sports Content, Technology and Services revenue increased 5% YoY, primarily driven by: • Marketing and Media Services grew €6 million, up 13%, due to increased uptake from technology and media clients and contributions fro
Slide 21: Sport Rights Expenses and Purchased Services
SPORT RIGHTS EXPENSES AND PURCHASED SERVICES SPORT RIGHTS EXPENSES1 (€MM) KEY QUARTERLY TAKEAWAYS • Sport rights expenses were €122 million, 91 up €19 million or 18% YoY, driven by the addition of IMGA content and the success of ▲ ▲ our ATP partnership. 18% 15% • Adjusted purchased services, were up
Slide 22: Personnel Expenses and Other Operating Expenses
PERSONNEL EXPENSES AND OTHER OPERATING EXPENSES ADJUSTED PERSONNEL EXPENSES (€MM) KEY QUARTERLY TAKEAWAYS • Adjusted personnel expenses were €79 million, up €6 million or 9% YoY, down ▲ ▲ 221 basis points as a percent of 9% 10% revenue, as we closely manage headcount to support the most profitable g
Slide 23: Cost Profile and Drivers of Operating Leverage
COST PROFILE AND DRIVERS OF OPERATING LEVERAGE ADJUSTED EBITDA MARGIN & ADJUSTED EXPENSES AS A % OF REVENUE KEY TAKEAWAYS • Achieved Adjusted EBITDA margin expansion of 291 basis points in 2025 and 577 bps since 2022. Focus on efficiencies in major cost lines driving operating leverage. • Projecting
Slide 24: Long-Term Sports Rights Deals Provide Cost Visibility
LONG-TERM SPORTS RIGHTS DEALS PROVIDE COST VISIBILITY Average term remaining for major contracts1 ~5 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 term, pr
Slide 25: Strong Cash Generation and Liquidity Position
STRONG CASH GENERATION AND LIQUIDITY POSITION Free Cash Flow (€MM) Total Liquidity (€MM) Revolver Cash and cash equivalents KEY TAKEAWAYS • Generated record €167 million in Free Cash Flow in 2025, translating to 56% conversion 568 585 rate. • Strong balance sheet with no debt outstanding. 220 220 •
Slide 26: FY2026 Outlook
FY2026 OUTLOOK 2026 Guidance Constant Currency Guidance2 Metric (€MM) 2025 Actual Growth1 (Currency Impacted) Revenue €1,290 million 23% to 25% €1,557 to €1,582mm Adjusted EBITDA €297 million 34% to 37% €390 to €400 Adjusted EBITDA margin 23.0% 200 to 225 bps expansion 25.0% to 25.3% Free Cash Flow
Slide 27: Appendix
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Slide 28: Non-IFRS Financial Measures and Operating Metric
NON-IFRS FINANCIAL MEASURES AND OPERATING METRIC We have provided in this press release financial information that has not been prepared in accordance with IFRS, including Adjusted EBITDA, Adjusted EBITDA margin, Constant Currency metrics, Adjusted purchased services, Adjusted personnel expenses, Ad
Slide 29: Non-IFRS Financial Measures and Operating Metrics
NON-IFRS FINANCIAL MEASURES AND OPERATING METRICS • "Constant Currency" information compares results between periods as if exchange rates had remained constant. As the impact of exchange rate fluctuations can be highly variable, we believe these metrics, unaffected by exchange rate variability, prov
Slide 30: P&L and Adjusted EBITDA Reconciliation
P&L AND ADJUSTED EBITDA RECONCILIATION Three-Month Period Ended Three-Month Period Ended (Unaudited) December 31, (Unaudited) December 31, in €'000 2025 2024 in €'000 2025 2024 Revenue 368,890 307,070 Profit for the period 4,402 (1,305) Personnel expenses (104,126) (93,002) Finance income (3,379) (4
Slide 31: IFRS Expenses to Non-IFRS Expenses Bridge
IFRS EXPENSES TO NON-IFRS EXPENSES BRIDGE Three-Month Period Ended (Unaudited) December 31, in €'000 2025 2024 Non-capitalized sport rights expenses 37,755 35,232 Amortization of capitalized sport rights 83,792 67,342 Total sport rights expenses 121,547 102,574 Purchased services 47,735 50,016 Less:
Slide 32: Free Cash Flow Reconciliation
FREE CASH FLOW RECONCILIATION Year Ended (Unaudited) December 31, in €'000 2025 2024 Net cash from operating activities 403,015 353,011 Acquisition of intangible assets (223,377) (222,288) Acquisition of property plant and equipment (4,902) (5,367) Payment of lease liabilities (7,555) (7,830) Free c