Sportradar Group (SRAD) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 24% YoY to €362.5M; Adjusted EBITDA increased 21% to €102.2M, with a 28.2% margin.

• Nine-month free cash flow reached €176.6M, up 18% YoY, with 72% conversion.

• Growth reflected client uptake, IMG content monetization and expanding prediction-market demand; the Atrium Sports sale and share repurchases advanced capital priorities.

Financial highlights

• Q3 revenue was €362.5M versus €292.1M; Adjusted EBITDA was €102.2M versus €84.6M, with margin at 28.2% versus 29.0%.

• Profit for the period was €27.0M versus €22.5M; reported profit margin was 7.5% versus 7.7%.

• Nine-month revenue was €1,086.8M, up 18%; Adjusted EBITDA was €244M, up 18%, with a 22.5% margin.

• Q3 net cash from operating activities increased 37% to €157M; free cash flow rose 12% to €73M.

• Nine-month free cash flow was €176.6M versus €149.5M; conversion was 72%, unchanged YoY.

Outlook and guidance

• FY2026 revenue guidance remains 19%–21% growth at constant currency, or €1,518M–€1,533M including currency impact.

• FY2026 Adjusted EBITDA guidance remains 24%–27% growth at constant currency, or €360M–€368M including currency impact; reported margin expansion of 70–100 bps is expected.

• FY2026 free cash flow conversion is expected to exceed 56%, excluding non-routine litigation costs; guidance excludes the Atrium Sports divestiture pending closing.

• Adjusted EBITDA margin expansion is anticipated in Q4 and FY2026; Q4 free cash flow conversion is expected to be negative, mainly due to timing of sports-rights payments and prediction-market cash flows.