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Sep 30
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Sportradar Q3 2025 Earnings Report
Sportradar reported a 14% increase in revenue and achieved record adjusted EBITDA margins in Q3 2025.
Key Takeaways
Sportradar delivered strong financial results for Q3 2025, with revenue reaching €292 million and adjusted EBITDA margin hitting a record 29.0%. Despite a decline in net income due to lower foreign currency gains, the company maintained strong operating cash flow and completed the acquisition of IMG ARENA to support long-term growth.
Revenue rose 14% YoY to €292 million, driven by strong growth in Sports Content and Betting Services.
Adjusted EBITDA increased 29% to €85 million, with margin expanding to 29.0%.
Profit for the period declined to €22 million due to a €22 million lower foreign currency gain.
Customer Net Retention Rate remained high at 114%, demonstrating strong client engagement.
Sportradar
Sportradar
Sportradar Revenue by Segment
Sportradar Revenue by Geographic Location
Revenue by Segment
Betting & Gaming Revenue
CapyFin.comManaged Betting Revenue
CapyFin.comBetting Tech & Solutions Revenue
CapyFin.comMarketing & Media Revenue
CapyFin.comSports Performance Revenue
CapyFin.comIntegrity Services Revenue
CapyFin.comSports Content & Tech Revenue
CapyFin.comRevenue by Geographic Location
Rest of World Revenue
CapyFin.comUnited States Revenue
CapyFin.com Forward Guidance
Sportradar raised its FY2025 outlook, reflecting continued strength in core operations and the integration of IMG ARENA, with expectations of increased margins and cash generation.
Positive Outlook
- FY25 revenue expected to reach at least €1,290 million (17% growth).
- FY25 Adjusted EBITDA guided to at least €290 million (30% growth).
- Free cash flow conversion expected to remain above 2024’s 53%.
- IMG ARENA acquisition expected to accelerate growth and margin expansion.
- Expanded share repurchase program to $300 million, signaling confidence.
Challenges Ahead
- Net income declined YoY due to lower FX gains.
- Foreign currency volatility remains a headwind.
- Sport rights costs increased, impacting margin expansion.
- No GAAP EPS guidance provided.
- Heavy reliance on capital-intensive sport rights may pressure margins if revenue underperforms.