Sportradar Group AG announced robust financial results for its third quarter ended September 30, 2024, with total revenue reaching €255 million, marking a 27% increase year-over-year. This growth was driven by a 32% rise in Betting Technology & Solutions revenue to €210 million and an 8% increase in Sports Content, Technology & Services revenue to €45 million.
The company's Adjusted EBITDA for the quarter grew by 31% year-over-year to €66 million, reflecting strong operating performance. United States revenue demonstrated significant expansion, increasing by 46% and now accounting for 20% of the total company revenue.
Sportradar further raised its full-year 2024 outlook, projecting revenue of at least €1,107 million, representing at least 24% year-over-year growth, and Adjusted EBITDA of at least €222 million, an increase of at least 29% compared to the prior year. The company also reported a strong liquidity position with €368 million in cash and cash equivalents and no outstanding debt as of September 30, 2024.
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