Sportradar AG(SRAD)2023-03-15 11:14Revenue Growth - Full Year 2022 revenue increased by 30% to €730.2 million (220.7 million) compared to Q4 2021[3] - The Rest of World Betting segment, accounting for 51% of total revenue, grew 29% to €105.9 million (134.6 million), within the annual outlook range of €124.0 million to €127.0 million[4] - Adjusted EBITDA for 2023 is projected to be between €157.0 million and €167.0 million, indicating a growth of 25% to 33% compared to the previous year[14] - Adjusted EBITDA for the year ended December 31, 2022, rose to €125,846 thousand, compared to €102,013 thousand in 2021, reflecting an increase of around 23.2%[30] - The Adjusted EBITDA margin for the year ended December 31, 2022, was 17%, compared to 18% in 2021, indicating a slight decline[28] Financial Performance - Net income for Q4 2022 was a loss of €33.3 million, compared to a profit of €4.2 million in Q4 2021[24] - Total comprehensive loss for Q4 2022 was €45.9 million, compared to a comprehensive income of €19.6 million in Q4 2021[24] - The company reported a profit for the year of €10,491 thousand in 2022, down from €12,787 thousand in 2021, indicating a decline of approximately 18.0%[30] Cash and Liquidity - Cash and cash equivalents totaled €243.8 million as of December 31, 2022, with total liquidity available of €463.8 million[4] - Cash and cash equivalents significantly dropped from €742,773 thousand in 2021 to €243,757 thousand in 2022, a decrease of about 67.2%[26] - Adjusted Free Cash Flow for the year ended December 31, 2022, was €38,878 thousand, compared to €14,540 thousand in 2021, showing an increase of about 167.5%[31] Strategic Initiatives - Sportradar signed new multi-year agreements with major sports organizations and acquired Vaix, enhancing its AI capabilities in the iGaming industry[4] - The company expects to continue its strategic growth initiatives and market expansion in 2023, although specific financial guidance was not provided[22] Expenses and Liabilities - Personnel expenses increased to €81.0 million in Q4 2022 from €47.0 million in Q4 2021, reflecting a 72.3% rise[24] - The company’s total liabilities decreased from €1,035,487 thousand in 2021 to €631,632 thousand in 2022, a reduction of approximately 39.0%[25] Currency Impact - Foreign currency losses for Q4 2022 amounted to €13.2 million, compared to gains of €8.9 million in Q4 2021[24]