Sportradar Group Ag · NASDAQ:SRAD
Sportradar — Q2 2025 Earnings Presentation
33 slides from Sportradar's earnings presentation, Aug 5, 2025
Slide 1: Q2 2025 Earnings
Q2 2025 EARNINGS | August 5, 2025
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: Delivered Record Performance and Margin Expansion
DELIVERED RECORD PERFORMANCE AND MARGIN EXPANSION Achieved record quarterly revenue of €318 million, up 14% YoY, grew Adjusted EBITDA1 31% YoY, 1 expanded Adjusted EBITDA margin1 to 20.1% and generated Free cash flow1 of €52 million. Focus on efficiencies enhancing operating leverage with 2Q Adjuste
Slide 4: Q2 2025 Financial Highlights
Q2 2025 FINANCIAL HIGHLIGHTS Strong Execution with Double-Digit Revenue Growth, Margin Expansion & Significant Cash Flow Q2 2025 FINANCIAL HIGHLIGHTS Revenue Adjusted EBITDA Free Cash Flow (YTD) +14% +31% +41% €318MM €64MM €84MM Net Retention Rate1 Adjusted EBITDA Free Cash Flow Margin Conversion (Y
Slide 5: Achieved Record Quarterly Revenue
ACHIEVED RECORD QUARTERLY REVENUE (€MM) €318 C AGR 21% €278 €216 €177 2Q22 2Q23 2Q24 2Q25 Betting Technology & Solutions Sports Content, Technology & Services 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: Expanding Global Markets Provides Strong Tailwind
EXPANDING GLOBAL MARKETS PROVIDES STRONG TAILWIND • Benefiting from ongoing legalization, consumer adoption and expansion in number of sports matches available to bet upon. Global TAM expected to grow at an • Europe continues to grow strongly with expected CAGR of 9%. 11% CAGR • Established a strong
Slide 9: Moving Clients Deeper into Product and Content Value Chain Increases Take Rate
MOVING CLIENTS DEEPER INTO PRODUCT AND CONTENT VALUE CHAIN INCREASES TAKE RATE MARKETING STREAMING SERVICES & BETTING BETTING ENGAGEMENT MANAGED PLATFORM TRADING SOLUTIONS SERVICES (MTS) LIVE TAKE-RATE ODDS LIVE PRE-MATCH DATA DATA & ODDS CLIENT VALUE 9
Slide 10: Strong MTS Momentum and Turnover Growth
STRONG MTS MOMENTUM AND TURNOVER GROWTH KPIs € MTS Turnover p.a. +23% Turnover MTS Turnover YTD 900k Matches 63% Up from 355k in 2018 CAGR 65m Bettors Active Bettors Managed Strong Pipeline of New Customers Risk Mgmt. Capability Feature Platform Embedded AI-Driven Risk Management Modularity; Third-P
Slide 11: Driving Take Rate and Fostering In-Play Betting
DRIVING TAKE RATE AND FOSTERING IN-PLAY BETTING 4SIGHT STREAMING IN-GAME & MICRO MARKETS ▸ Award winning audiovisual product helping to engage, ▸ Expanded micro markets sports coverage, now acquire and retain fans, fostering in-game betting. includes MLB and WNBA in addition to NBA and ATP. Plans to
Slide 12: Driving Take Rate Through Expanded Partnerships
DRIVING TAKE RATE THROUGH EXPANDED PARTNERSHIPS STRENGTHENED BUNDESLIGA PARTNERSHIP DIGITAL & MOBILE ADOPTION ▸ Strengthened partnership with Bundesliga and its ▸ Fan engagement capabilities driving interest across non- 1 billion global fans extends through 2032. betting platforms as sports viewersh
Slide 13: Driving Innovation and Removing Growth Barriers
DRIVING INNOVATION AND REMOVING GROWTH BARRIERS CODE FASTER COMPUTER VISION EFFICIENCY TOOLS Up to 50% 100X More Data AI-Powered Assistant Lines of code generated by AI Collected than with human labeler, Deliver faster, more accurate tools in different teams with 50% of all live matches using custom
Slide 14: Agreement to Acquire IMG ARENA
<<< AGREEMENT TO ACQUIRE IMG ARENA << <<<
Slide 15: IMG ARENA Transaction Summary
IMG ARENA TRANSACTION SUMMARY • Sportradar has agreed to acquire IMG Arena’s portfolio of highly strategic sports betting rights: • Will add depth & breadth in key betting sports including tennis, soccer & basketball. RIGHTS ACQUIRED • Includes 14 sports from 70+ global rightsholders. • Covers ~39,0
Slide 16: IMG ARENA Acquisition to Drive Greater Coverage Across All Metrics
IMG ARENA ACQUISITION TO DRIVE GREATER COVERAGE ACROSS ALL METRICS Approx. 70% of rights spread across top 3 most bet on global sports including basketball, soccer and tennis • Will seamlessly integrate into 14 Sports our platform, maximizing monetization and value 70+ Rightsholders • Highly complem
Slide 17: Financial Results
sp rtradar SPORTS TECHNOLOGY. REIMAGINED FINANCIAL RESULTS iv]
Slide 18: Delivered Strong Revenue and Profitability
DELIVERED STRONG REVENUE AND PROFITABILITY CONSOLIDATED REVENUE (€MM) CONSOLIDATED ADJUSTED EBITDA (€MM) KEY QUARTERLY TAKEAWAYS 629 123 • Achieved record revenue of 544 €318mm, up 14%, due to increased 96 client spending, strong growth in U.S. revenues, and higher MTS 318 trading results. 64 278 •
Slide 19: Summary of Revenue to Adjusted EBITDA
SUMMARY OF REVENUE TO ADJUSTED EBITDA (€MM) Q2 2024 Q2 2025 YTD 2024 YTD 2025 Revenue 278 318 544 629 Sport rights expense (96) (106) (187) (210) Adjusted purchased services1 (38) (44) (74) (87) Adjusted personnel expenses1 (71) (80) (141) (160) Adjusted other operating expenses1 (24) (24) (47) (49)
Slide 20: Betting Technology & Solutions
BETTING TECHNOLOGY & SOLUTIONS REVENUE (€MM) KEY QUARTERLY TAKEAWAYS 509 • Betting Technology and Solutions revenue increased 12% YoY, primarily driven by: 450 • Betting and Gaming Content grew €19 million or 10%, benefiting from existing and new customer uptake of our 259 products and U.S. market g
Slide 21: Sports Content, Technology & Services
SPORTS CONTENT, TECHNOLOGY & SERVICES REVENUE (€MM) KEY QUARTERLY TAKEAWAYS • Sports Content, Technology and Services revenue increased 22% YoY, 120 primarily driven by: • Marketing and Media Services grew 94 €6 million, up 16%, due to increased spending from technology and media companies and contr
Slide 22: Sport Rights Expenses and Purchased Services
SPORT RIGHTS EXPENSES AND PURCHASED SERVICES SPORT RIGHTS EXPENSES1 (€MM) KEY QUARTERLY TAKEAWAYS 210 187 • Sport rights expenses were €106 million, 96 106 91 up €10 million or 11% YoY, down 103 bps as ▲ a percent of revenues, driven by the ▲ 11% 13% success of our ATP content and our renewed Major
Slide 23: Personnel Expenses and Other Operating Expenses
PERSONNEL EXPENSES AND OTHER OPERATING EXPENSES ADJUSTED PERSONNEL EXPENSES (€MM) KEY QUARTERLY TAKEAWAYS 160 141 • Adjusted personnel expenses were €80 71 80 million, up €8 million or 12% YoY, down ▲ ▲ 56 basis points as a percent of revenue, 12% 14% driven largely by new headcount to support growt
Slide 24: 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 17% 19% 20% 22% • Now projecting 210 basis points of EBITDA margin expansion in 2025, driven by operating leverage from 26% 24% 32% 31% both sport rights and all other expenses.
Slide 25: Long-Term Sports Rights Deals Provide Cost Visibility
LONG-TERM SPORTS RIGHTS DEALS PROVIDE COST VISIBILITY Average term remaining for select 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 te
Slide 26: Strong Cash Generation and Liquidity Position
STRONG CASH GENERATION AND LIQUIDITY POSITION Free Cash Flow YTD (€MM) Total Liquidity (€MM) Revolver Cash and cash equivalents KEY TAKEAWAYS 568 • Generated €84 million in Free Cash 532 Flow year-to-date, translating to ▲ 68% conversion rate. 41% 84 220 220 • Strong balance sheet with no debt outst
Slide 27: FY2025 Outlook
FY2025 OUTLOOK 2025 Guidance Metric (€MM) 2024 Actual Prior Target Revised Target YoY Increase at least at least at least Revenue €1,107 million €1,273 million €1,278 million 16% growth Adjusted EBITDA €222 million €281 million €284 million 28% growth Adjusted EBITDA margin 20.1% 22.1% 22.2% 210 bps
Slide 28: Appendix
sp rtradar SPORTS TECHNOLOGY. REIMAGINED. APPENDIX iv]
Slide 29: Non-IFRS Financial Measures and Operating Metric
NON-IFRS FINANCIAL MEASURES AND OPERATING METRIC We have provided in this presentation 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 expen
Slide 30: 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 31: P&L and Adjusted EBITDA Reconciliation
P&L AND ADJUSTED EBITDA RECONCILIATION Three-Month Period Ended Three-Month Period Ended (Unaudited) June 30, (Unaudited) June 30, in €'000 2025 2024 in €'000 2025 2024 Revenue R 317,790 278,420 Profit (loss) for the period 49,117 (1,536) Personnel expenses P (101,781) (89,134) Finance income (2,289
Slide 32: IFRS Expenses to Non-IFRS Expenses Bridge
IFRS EXPENSES TO NON-IFRS EXPENSES BRIDGE Three-Month Period Ended (Unaudited) June 30, in €'000 2025 2024 Non-capitalized sport rights expenses 31,685 28,914 Amortization of capitalized sport rights 74,509 67,002 Total sport rights expenses 106,194 95,916 Purchased services 48,124 43,650 Less: capi
Slide 33: Free Cash Flow Reconciliation
FREE CASH FLOW RECONCILIATION Six-Month Period Ended (Unaudited) June 30, in €'000 2025 2024 Net cash from operating activities 199,595 152,632 Acquisition of intangible assets (109,284) (86,613) Acquisition of property plant and equipment (2,255) (2,373) Payment of lease liabilities (3,972) (4,157)