Sportradar Group (SRAD) Q2 2025 earnings summary

Executive summary

• Achieved record quarterly revenue of €318 million in Q2 2025, up 14% year-over-year, with Adjusted EBITDA up 31% to €64 million and margin expansion to 20.1%, reflecting strong execution and broad-based growth across products and regions.

• Profit for the period was €49 million, reversing a prior year loss, aided by a €54 million foreign currency gain.

• Raised full-year 2025 outlook for revenue and Adjusted EBITDA, citing continued operating momentum, confidence in business fundamentals, and anticipated benefits from the pending IMG ARENA acquisition.

• Growth strategy focuses on expanding sports betting market presence, increasing product penetration, leveraging innovation, and entering adjacent markets, with continued expansion in non-betting platforms and digital engagement.

• Strengthened partnerships, notably with the German Bundesliga, advanced integration of AI and technology, and secured exclusive global betting rights for FIFA Club World Cup.

Financial highlights

• Q2 2025 revenue reached €318 million, a 14% increase year-over-year, driven by higher product uptake, new clients, and strong U.S. market growth.

• Adjusted EBITDA grew 31% year-over-year to €64 million, with margin expanding to 20.1%.

• Profit for the period was €49 million (15.5% of revenue), compared to a loss in the prior year.

• Free cash flow for the first half was €84 million, with a conversion rate of 68%, up from 62% in the prior year.

• U.S. revenue grew 30% year-over-year, now comprising 28% of total revenue; rest of world revenue up 9%.

Outlook and guidance

• Full-year 2025 revenue guidance raised to at least €1,278 million (16% growth), and Adjusted EBITDA to at least €284 million (28% growth), with margin expansion of at least 210 basis points.

• Free cash flow conversion expected above 53%, exceeding 2024 levels.

• Guidance excludes impact from the pending IMG ARENA acquisition, which is expected to be accretive once closed.