Sportradar Group Ag · NASDAQ:SRAD
Sportradar — Q2 2023 Earnings Presentation
19 slides from Sportradar's earnings presentation, Aug 9, 2023
Slide 1: Second Quarter 2023 Financial Results
SECOND QUARTER 2023 FINANCIAL RESULTS | August 9, 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: First Half 2023 Highlights
FIRST HALF 2023 HIGHLIGHTS Revenue (€ million) Adjusted EBITDA1 (€ million) Adjusted EBITDA Margin1 424 77 18% Adjusted EBITDA Revenue Growth Adjusted EBITDA1 Growth Margin1 Expansion +23% +42% +238bps Y-o-Y Growth ▲ Y-o-Y Growth ▲ Y-o-Y Growth ▲ 1 Non-IFRS financial measure; see the Appendix for de
Slide 5: 2023 Key Priorities
2023 KEY PRIORITIES Grow Core Betting Product Expand U.S. Footprint Develop Emerging Markets Invest Prudently • Leverage computer vision and • Drive adoption of in-play • Grow revenue in LATAM/Asia • Evaluate M&A opportunities AI across multiple sports and markets for technology • Continue innovatio
Slide 6: AI & ML Value-Creation Loop Fuels Our Data Technology Business Model
THE EVER-GROWING AI & ML VALUE-CREATION LOOP FUELS OUR CUTTING-EDGE DATA TECHNOLOGY BUSINESS MODEL TO REMAIN BEST FUTURE-POSITIONED AI & ML Value-Creation Loop Benefits of Technology-Business model Sportradar’s unique Unique & Match, player and behavior data enables better data sets and data proprie
Slide 7: Financial Overview
<<< FINANCIAL OVERVIEW 02 01 02 03 04 << <<<
Slide 8: Second Quarter Highlights
SECOND QUARTER HIGHLIGHTS Key Metrics Revenue growth Adjusted EBITDA growth1 Adjusted EBITDA margin1 +22% +46% +298bps Y-o-Y Growth ▲ Y-o-Y Growth ▲ Y-o-Y Growth ▲ Product Revenue Growth MBS Live Data & Live Odds U.S. Betting & Gaming Net Retention Ratio (NRR)1 +25% +19% +105% 120% Y-o-Y Growth ▲ Y-
Slide 9: RoW Betting
RoW BETTING REVENUE (€m) +20% HIGHLIGHTS 114 96 • Revenue growth driven by Managed Betting Services (MBS, +25%) and Live Odds and Data ( +19%). • Strong MBS and Live Odds and Data growth due to upselling and cross selling to customers. Q2 2022 Q2 2023 ADJUSTED EBITDA11 (€m) +18% HIGHLIGHTS • Adjuste
Slide 10: RoW Audiovisual
RoW AUDIOVISUAL REVENUE (€m) 25% HIGHLIGHTS • Revenue increase was aided by new CONMEBOL rights and further growth in sales to existing and new customers. 50 40 Q2 2022 Q2 2023 ADJUSTED EBITDA1 (€m) +26% HIGHLIGHTS • Adjusted EBITDA1 increase due to higher content coverage as 16 13 well as growth in
Slide 11: United States
UNITED STATES REVENUE (€m) +31% HIGHLIGHTS 38 • Revenue growth was due to growth in core betting products. 29 • Betting & Gaming and Audio Visual grew 105%. Q2 2022 Q2 2023 ADJUSTED EBITDA1 (€m) N/A HIGHLIGHTS • Adjusted EBITDA1 was positive for the fourth consecutive quarter, reflecting operating l
Slide 12: Cost Analysis
COST ANALYSIS COSTS (€m) Purchased services Personnel expenses HIGHLIGHTS +3% +31% • Purchased services and licenses increase reflects investments 9m 84 11m in content creation, greater event coverage and higher Share-based Share-based scouting costs. 64 compensation compensation • Personnel expense
Slide 13: Cash Flow and Liquidity
CASH FLOW AND LIQUIDITY Three Months Ended June 30 • As of June 30, 2023, total liquidity in € million 2022 2023 is €484 million comprised of €264 million cash and cash equivalents Cash and cash equivalents as of April 1 716 240 and €220 million credit facility. • As of June 30, 2022, total liquidit
Slide 14: Reaffirming 2023 Financial Guidance
REAFFIRMING 2023 FINANCIAL GUIDANCE GUIDANCE YoY INCREASE Revenue €902m - €920m 24% - 26% Adjusted EBITDA1 €157m - €167m 25% - 33% Adjusted EBITDA Margin1 17% - 18% 1 Non-IFRS financial measure; see the Appendix for defined terms and reconciliations of non-IFRS measures to IFRS measures. 14
Slide 15: Q&A
sp@rtradar SPORTS TECHNOLOGY. REIMAGINED. Q&A O03 01 02 04
Slide 16: Appendix
<<< APPENDIX 04 01 02 03 04 << <<<
Slide 17: 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 18: Non-IFRS Reconciliation – Adjusted EBITDA & Margin (Three Months)
NON-IFRS RECONCILIATION – ADJUSTED EBITDA & MARGIN Three Months Ended June 30 2022 2022 2023 2023 €'000 % of revenue €'000 % of revenue Profit for the period from continuing operations 22,816 13% 33 0% Share based compensation 8,776 5% 11,108 5% Litigation costs1 1,887 1% - - Professional fees for S
Slide 19: Non-IFRS Reconciliation – Adjusted EBITDA & Margin (Six Months)
NON-IFRS RECONCILIATION – ADJUSTED EBITDA & MARGIN Six Months Ended June 30 2022 2022 2023 2023 €'000 % of revenue €'000 % of revenue Profit for the period from continuing operations 31,024 9% 6,843 2% Share based compensation 12,687 4% 20,062 5% Litigation costs1 3,171 1% - - Professional fees for