Sportradar Group Ag · NASDAQ:SRAD
Sportradar — Q3 2025 Earnings Presentation
30 slides from Sportradar's earnings presentation, Nov 5, 2025
Slide 1: Q3 2025 Earnings
Q3 2025 EARNINGS | November 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 Strong Cash Generation
DELIVERED RECORD PERFORMANCE AND STRONG CASH GENERATION Achieved strong third quarter revenue of €292 million, up 14% YoY, grew Adjusted EBITDA1 29% YoY, 1 expanded Adjusted EBITDA margin1 to a record 29% and generated Free cash flow1 of €65 million. Closed on the acquisition of IMG ARENA which expa
Slide 4: Q3 2025 Financial Highlights
Q3 2025 FINANCIAL HIGHLIGHTS Sustained Strong Execution with Double-Digit Revenue Growth, Margin Expansion & Significant Free Cash Flow Q3 2025 FINANCIAL HIGHLIGHTS Revenue Adjusted EBITDA Free Cash Flow (YTD) +14% +29% +23% €292MM €85MM €149MM Net Retention Rate1 Adjusted EBITDA Free Cash Flow Marg
Slide 5: Achieved Record Third Quarter Revenue
ACHIEVED RECORD THIRD QUARTER REVENUE (€MM) €292 AGR 18% C €255 €201 €179 3Q22 3Q23 3Q24 3Q25 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: IMG ARENA Acquisition
IMG ARENA ACQUISITION sp©rtradar
Slide 8: IMG ARENA Transaction Summary
IMG ARENA TRANSACTION SUMMARY ▸ Completed the acquisition of IMG ARENA and its global sports betting rights portfolio: ▸ Adds depth & breadth in key betting sports including soccer, tennis & basketball. RIGHTS ACQUIRED ▸ Includes 14 sports from 70+ global rightsholders. ▸ Covers ~38,000 official dat
Slide 9: Strengthens Our Leading Position in the Top Bet Upon Sports
STRENGTHENS OUR LEADING POSITION IN THE TOP 3 BET UPON SPORTS Adding premium rights across Soccer, Basketball and Tennis which account for >70% of Global GGR1 GGR Sportradar Properties IMG ARENA Properties SOCCER >70% of GGR in 2024 ~$60bn GGR1 BASKETBALL ~$12bn GGR1 TENNIS ~$5bn GGR1 1. Soccer, Bas
Slide 10: Operational Highlights
<<< OPERATIONAL HIGHLIGHTS << <<<
Slide 11: Developed First of Its Kind Sports Foundation AI Model
DEVELOPED FIRST OF ITS KIND SPORTS FOUNDATION AI MODEL Developed a generative foundation AI model for basketball, a first of its kind in sports. Based on a large transformer architecture trained using billions of 3D body pose data points from thousands of NBA games. Enables understanding of player m
Slide 12: Strong MTS Momentum and Turnover Growth
STRONG MTS MOMENTUM AND TURNOVER GROWTH KPIs € Turnover p.a. +25% Turnover MTS Turnover YTD 900k Matches 78% 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-Party
Slide 13: Increasing Demand as Sports Viewership Shifts Online
INCREASING DEMAND AS SPORTS VIEWERSHIP SHIFTS ONLINE Increasing demand from media and tech companies for our fan engagement products and capabilities as sports viewership continues to transition to digital and mobile streaming. Entered into partnership with DAZN providing them with data and broadcas
Slide 14: Financial Results
sp rtradar SPORTS TECHNOLOGY. REIMAGINED FINANCIAL RESULTS iv]
Slide 15: Delivered Strong Revenue and Profitability
DELIVERED STRONG REVENUE AND PROFITABILITY CONSOLIDATED REVENUE (€MM) CONSOLIDATED ADJUSTED EBITDA (€MM) KEY QUARTERLY TAKEAWAYS 921 207 • Achieved record third quarter 799 revenue of €292mm, up 14%, due to 162 increased client spending, strong growth in U.S. revenues, and higher MTS trading results
Slide 16: Summary of Revenue to Adjusted EBITDA
SUMMARY OF REVENUE TO ADJUSTED EBITDA (€MM) Q3 2024 Q3 2025 YTD 2024 YTD 2025 Revenue 255 292 799 921 Sport rights expense (63) (73) (250) (283) Adjusted purchased services1 (36) (42) (110) (129) Adjusted personnel expenses1 (69) (72) (210) (232) Adjusted other operating expenses1 (21) (22) (68) (70
Slide 17: Betting Technology & Solutions
BETTING TECHNOLOGY & SOLUTIONS REVENUE (€MM) KEY QUARTERLY TAKEAWAYS 742 • Betting Technology and Solutions revenue 660 increased 11% YoY, primarily driven by: • Betting and Gaming Content grew €14 million or 8%, benefiting from existing and new customer uptake of our content and products and strong
Slide 18: Sports Content, Technology & Services
SPORTS CONTENT, TECHNOLOGY & SERVICES REVENUE (€MM) KEY QUARTERLY TAKEAWAYS • Sports Content, Technology and Services 179 revenue increased 31% YoY, primarily driven by: 139 • Marketing and Media Services grew €11 million, up 33%, due to increased spending from technology and media companies and con
Slide 19: Sport Rights Expenses and Purchased Services
SPORT RIGHTS EXPENSES AND PURCHASED SERVICES SPORT RIGHTS EXPENSES1 (€MM) KEY QUARTERLY TAKEAWAYS 283 250 • Sport rights expenses were €73 million, up 91 €10 million or 15% YoY, driven by the 73 success of our ATP content and our renewed 63 ▲ ▲ Major League Baseball partnership. 15% 13% • Adjusted p
Slide 20: Personnel Expenses and Other Operating Expenses
PERSONNEL EXPENSES AND OTHER OPERATING EXPENSES ADJUSTED PERSONNEL EXPENSES (€MM) KEY QUARTERLY TAKEAWAYS 232 210 • Adjusted personnel expenses were €72 72 million, up €2 million or 4% YoY, down 69 ▲ ▲ 260 basis points as a percent of 4% 10% revenue, as we closely manage headcount to support the mos
Slide 21: 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 nearly 240 basis points of EBITDA margin expansion in 2025, driven by operating 26% 24% 32% 31% leverage from both sport rights and all other exp
Slide 22: Long-Term Sports Rights Deals Provide Cost Visibility
LONG-TERM SPORTS RIGHTS DEALS PROVIDE COST VISIBILITY Average term remaining for select 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 t
Slide 23: 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 • Generated €149 million in Free Cash Flow year-to-date, translating to 72% conversion ▲ 568 580 rate. 149 23% 220 • Strong balance sheet with no debt 122 220
Slide 24: 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 €1,278 million €1,290 million 17% growth Adjusted EBITDA €222 million €284 million €290 million 30% growth Adjusted EBITDA margin 20.1% 22.2% 22.5% ~240 bp
Slide 25: Appendix
sp rtradar SPORTS TECHNOLOGY. REIMAGINED. APPENDIX iv]
Slide 26: 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 27: 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 28: P&L and Adjusted EBITDA Reconciliation
P&L AND ADJUSTED EBITDA RECONCILIATION Three-Month Period Ended Three-Month Period Ended (Unaudited) September 30, (Unaudited) September 30, in €'000 2025 2024 in €'000 2025 2024 Revenue 292,054 255,172 Profit for the period 22,467 37,102 Personnel expenses (93,958) (87,966) Finance income (2,531) (
Slide 29: IFRS Expenses to Non-IFRS Expenses Bridge
IFRS EXPENSES TO NON-IFRS EXPENSES BRIDGE Three-Month Period Ended (Unaudited) September 30, in €'000 2025 2024 Non-capitalized sport rights expenses 32,386 28,272 Amortization of capitalized sport rights 40,162 34,730 Total sport rights expenses 72,548 63,002 Purchased services 46,080 42,770 Less:
Slide 30: Free Cash Flow Reconciliation
FREE CASH FLOW RECONCILIATION Nine-Month Period Ended (Unaudited) September 30, in €'000 2025 2024 Net cash from operating activities 314,655 270,854 Acquisition of intangible assets (156,332) (140,165) Acquisition of property plant and equipment (3,238) (3,090) Payment of lease liabilities (5,608)