Revealing its Q2 2023 results, sports technology company Sportradar revealed it is on track to deliver record annual revenue.
Revenue in the quarter ending June 30 was up 22 per cent against the previous year at €216.4m, with growth across all segments.
Its adjusted EBITDA margin increased 300bps from the previous year’s Q2, from 16 per cent to 19 per cent.
Total profit, however, fell €22.8m from the same quarter last year. This did include an €8m loss on disposal of an equity investment. The company stated that the chief cause of the decrease was a net negative impact from foreign exchange rates. Again compared against the previous year’s Q2, the company’s adjusted EBITDA increased 46 per cent to €40.1m.
“We are very proud of our strong performance during the first half of 2023 and remain on track to achieve the highest annual revenue in the company’s history,” said Carsten Koerl, CEO of Sportradar.
“We hold a pivotal position in the global sports ecosystem and believe our talent, technology and diverse product offering positions us for strong future growth as we continue to execute against our strategic initiatives.”
