Sportradar reported a first-quarter revenue jump of 24%, led by sizable gains in U.S. sports betting services.
“We are delivering strong results, we are delivering higher organic growth, and we are … showing a strong cash conversion, which is something we got a lot of critical comments [previously], and we confirmed our guidance,” Sportradar founder and CEO Carsten Koerl said in a video call with Sportico Wednesday.
The Switzerland-based data and analytics company tallied sales of €207.6 million (equal to $226.2 million) in the period ending March 31, nearly a quarter higher than the same period in 2022. Net income was $7.4 million (€6.8 million), which was $1.5 million (€1.4 million) less than the comparable period, but the company noted its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), a closely watched measure of financial performance, outpaced sales growth.
