Sportradar Reports Fourth Quarter and Full Year 2024 Results and Announces Agreement to Acquire IMG Arena and Its Strategic Portfolio of Global Sports Betting Rights

Core Insights - Sportradar Group AG reported strong financial results for the fourth quarter and full year 2024, achieving record revenue, operating margins, and free cash flow generation [3][4][6] - The company is focused on enhancing its content portfolio and product offerings, including significant partnerships with Major League Baseball and UEFA [4][22] - The acquisition of IMG ARENA's sports rights portfolio is expected to further strengthen Sportradar's market position and enhance its product offerings [26][27] Financial Performance - Total revenue for the full year 2024 was €1,107 million, representing a 26% increase year-over-year [8] - Fourth quarter revenue was €307 million, up 22% from the previous year, driven by growth in Betting Technology & Solutions and Sports Content, Technology & Services [14][15] - Adjusted EBITDA for the full year increased 33% to €222 million, with an adjusted EBITDA margin of 20.1% [6][13] Revenue Breakdown - Betting & Gaming Content revenue increased by 30% to €192 million in Q4 and by 33% to €707 million for the full year [5][9] - Managed Betting Services revenue was relatively stable in Q4, down 1% to €55 million, but increased 15% to €200 million for the full year [5][9] - The United States market showed significant growth, with revenue up 41% in Q4 and 58% for the full year, now representing 24% of total revenue [7][11][17] Profitability and Cash Flow - The company reported a profit of €34 million for the full year, consistent with the prior year, despite a foreign currency loss of €38 million [12] - Free cash flow increased significantly by 133% to €118 million for the year [6][23] - Net cash from operating activities rose 36% to €353 million, reflecting strong operational performance [6][22] Strategic Partnerships and Acquisitions - Sportradar extended its partnership with Major League Baseball for eight years, enhancing its data and media content offerings [22] - The company announced a new long-term partnership with UTR Sports for the UTR Pro Tennis tour, expanding its presence in tennis [22] - The acquisition of IMG ARENA is expected to enhance Sportradar's content and product offerings, with a financial consideration of $225 million [26][28] Future Outlook - For fiscal 2025, Sportradar targets revenue of at least €1,273 million and adjusted EBITDA of at least €281 million, representing year-on-year growth of at least 15% and 26% respectively [31][24] - The guidance does not include the impact from the pending acquisition of IMG ARENA, which will be updated upon closing [24]