Sportradar Reports Threefold Profit Increase in 2023

Sportradar, a renowned provider of sports data and betting solutions, has reported a stellar financial performance for the year 2023. iGaming Business has highlighted the company’s substantial profit growth over the period.

For the year, Sportradar announced revenues reaching $951.5 million, which is a 20.2% increase from the year prior. This surge in revenue has propelled the company’s profits to $37.8 million, a significant rise from the $11.4 million reported in 2022 — a 229.5% increase.

The company’s EBITDA, a measure of earnings before interest, taxes, depreciation, and amortization, also saw a healthy increase of 32.6%, amounting to $182.4 million.

A key driver of this financial success, as noted by Sportradar, has been its robust performance in the US market, which contributed significantly to the overall growth.

Looking forward, Sportradar is setting ambitious targets for 2024, aiming for a 20.0% increase in both revenue and EBITDA, which would mean achieving revenue of at least $1.15 billion and an EBITDA of $218.7 million.

This news comes on the heels of Sportradar founder Carsten Koerl’s announcement to sell shares worth $35 million.