{"id":14858,"date":"2024-05-16T10:31:52","date_gmt":"2024-05-16T07:31:52","guid":{"rendered":"https:\/\/igamingafrika.com\/?p=14858"},"modified":"2024-05-16T10:31:52","modified_gmt":"2024-05-16T07:31:52","slug":"sportradar-reports-record-revenues-for-q1-2024","status":"publish","type":"post","link":"https:\/\/igamingeuropa.com\/index.php\/2024\/05\/16\/sportradar-reports-record-revenues-for-q1-2024\/","title":{"rendered":"Sportradar Reports Record Revenues for Q1 2024!"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Sports technology company, <a href=\"https:\/\/www.linkedin.com\/company\/sportradar\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sportradar Group AG\u00a0<\/a> has released its latest\u00a0financial report\u00a0revealing quarterly revenues of \u20ac266 million in Q1 2024.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The latest figures represent a 28% increase in revenues and set a new record for a quarter. Meanwhile EBITDA grew by 29% year-over-year. Yet despite continued growth across the board, the company reported a loss of \u20ac0.6 million for the quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read Also: <a href=\"https:\/\/igamingafrika.com\/betking-partners-with-gamble-alert-to-promote-responsible-gaming-in-nigeria\/\" target=\"_blank\" rel=\"noreferrer noopener\">BetKing Partners With Gamble Alert to Promote Responsible Gaming in Nigeria<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Q1 2024 Key Highlights<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Group Revenue \u2013 \u20ac265.9 million, up 28% year-over-year<\/li>\n\n\n\n<li>Betting Technology &amp; Solutions Revenues \u2013 \u20ac218.8 million, up 35% year-over-year<\/li>\n\n\n\n<li>Sports Content, Technology &amp; Solutions Revenues \u2013 \u20ac47.1 million, up 5% year-over-year.<\/li>\n\n\n\n<li>U.S. \u2013 25% of revenues<\/li>\n\n\n\n<li>Rest of World \u2013 75% of revenues<\/li>\n\n\n\n<li>Loss \u2013 \u20ac0.6 million (Q1 2023 \u2013 profit of \u20ac6.8 million)<\/li>\n\n\n\n<li>Adjusted EBITDA \u2013 \u20ac47.2 million, up 29% year-over-year<\/li>\n\n\n\n<li>Customer Net Retention Rate (NRR) \u2013 116%\u00a0 (111% in the fourth quarter of fiscal 2023)<\/li>\n\n\n\n<li>Total liquidity \u2013 \u20ac494.6 million (\u20ac459.6 million on March 31st, 2023)<\/li>\n\n\n\n<li>Full-year 2024 outlook \u2013 21% year-over-year growth in revenue and in Adjusted EBITDA<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Carsten Koerl,<\/strong> Chief Executive Officer of <strong>Sportradar<\/strong>, said:<em> \u201cFiscal 2024 is off to a great start, building on the strong momentum and progress we made last year. This quarter, we saw broad-based strength across our product portfolio including strong client adoption of our ATP and NBA product offerings. In light of our strong business fundamentals, we are raising our full year outlook and are commencing purchases under our share repurchase program. I would also like to welcome to the leadership team Craig Felenstein as our Chief Financial Officer and Behshad Behzadi as our Chief Technology Officer and Chief AI Officer.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.linkedin.com\/cws\/share?url=https:\/\/gamblingindustrynews.com\/news\/business\/sportsradar-revenues-q1-2024\/\" rel=\"noreferrer noopener\" target=\"_blank\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sports technology company, Sportradar Group AG\u00a0 has released its latest\u00a0financial report\u00a0revealing quarterly revenues of \u20ac266 million in Q1 2024. The latest figures represent a 28% increase in revenues and set a new record for a quarter. Meanwhile EBITDA grew by 29% year-over-year. Yet despite continued growth across the board, the company reported a loss of &hellip;<\/p>\n","protected":false},"author":3,"featured_media":17554,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,25,14],"tags":[7,75,640,91],"class_list":["post-14858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-gambling-news","category-news","category-press-release","tag-casino","tag-gambling","tag-q1","tag-sports-betting"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sportradar Reports Record Revenues for Q1 2024!<\/title>\n<meta name=\"description\" content=\"Sports technology company, Sportradar Group AG\u00a0 has released its latest\u00a0financial report\u00a0revealing quarterly revenues of \u20ac266 million in Q1 2024.\" \/>\n<meta name=\"robots\" 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