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Double-digit growth and strong US performance drive upgraded guidance.
Sportradar has posted its strongest quarter to date, beating revenue and EBITDA expectations while raising its full-year forecast off the back of continued momentum across its tech and content divisions.
The Swiss-based sports technology provider reported €318m in Q2 2025 revenue, up 14% year-on-year, and €64m in adjusted EBITDA, a 31% increase that pushed its EBITDA margin up to 20.1%.
Profit for the quarter hit €49m, reversing a €2m loss from the same period last year.
Core betting and content segments continue to lead growth
Both product strength and international scale are lifting Sportradar’s numbers.
The results were largely driven by the Betting Technology & Solutions division, which brought in €259m, a 12% year-on-year increase. Within that, Managed Betting Services grew by 21% to €59m, supported by improved turnover and trading margins, while Betting & Gaming Content rose by 10%.
Meanwhile, the Sports Content, Technology & Services division delivered a 22% revenue increase, helped by a 16% rise in Marketing & Media Services and a 92% surge in Integrity Services revenue.
US revenue jumps 30% and now accounts for nearly a third of total
The American market continues to be a key growth driver for Sportradar.
Sportradar saw a 30% year-on-year jump in US revenue, which now represents 28% of the group’s total income. Executives said the company’s scale, premium content, and AI-driven technology are continuing to drive “above market” growth, especially in North America.
CEO Carsten Koerl commented:
“Our second quarter results, including record quarterly revenue, expanding operating margins and significant cash flow reflect our sustained operating momentum and execution against our growth strategy.
“Our industry leading scale, including our premium content and product portfolio and leading technology and AI, is driving customer uptake and above market growth. The inherent leverage in our business, combined with our focus on efficiencies, is driving sustainable margin expansion and cash flow generation.”
Share price slips despite earnings beat
Investors appear cautious amid softer rest-of-world growth.
Despite the strong quarter, Sportradar’s share price dropped 5% following the report, with analysts at Citizens pointing to slower growth outside the US as a possible reason. In a note, they said the slowdown was likely due to media campaign timing, not a structural issue.
“The positive take,” they wrote, “is the company’s rational approach to rights acquisitions and its refusal to overextend for poor-return deals.”
Net retention and cash position show sustained health
High customer retention and a debt-free balance sheet underline Sportradar’s stability.
Sportradar reported a Customer Net Retention Rate of 117%, pointing to strong cross-sell and upsell performance, particularly in the US. The company also closed the quarter with €312m in cash and equivalents and no outstanding debt.
With an undrawn credit facility, total liquidity stood at €532m as of 30 June.
Full-year guidance raised, but IMG Arena deal not yet factored in
A major acquisition could still bring upside once cleared by regulators.
The company has raised its 2025 revenue forecast to at least €1.28bn and expects €284m in adjusted EBITDA, representing 16% and 28% annual growth respectively.
However, that guidance does not include the expected acquisition of IMG Arena, which is currently under review by UK competition regulators. Once finalised, Sportradar says the deal will further strengthen its portfolio and value across global markets.
Source: NEXT.io
