Revenues for Sportradar grew 14.5% in the third quarter, reaching €292.1 million (US$335 million), in results released on 5 November.
Thanks to what Chief Financial Officer Craig Felenstein characterized as “predictable and sustainable sports-rights costs,” cash flow was €85 million (US$98 million)
. Sports-rights expenses escalated 15% because of renewals of ATP and MLB contracts.
Sportradar realized a €22.5 million (US$25.8 million) profit. It finished the third quarter with €360 million (US$413 million) in cash and no debt. Year to date, Sportradar has repurchased US$386 million worth of SRAD shares, at US$17.96 apiece. Felenstein stressed that reinvestment in the company was Sportradar’s priority for its cash. However, the company allocated an additional US$100 million to share repurchases.
