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  • Q4 2023: Sportradar shares rocket with $200m buyback scheme
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Sportradar’s share price rose 17.2% in morning trading after announcing a $200m share buyback scheme.

The sports technology and data business posted 2023 results at the upper end of its full-year guidance at €877.6m, a 20% rise from the previous year.

On a quarterly basis, the business reported a 22% increase in Q4 revenue to €252.6m.

The supplier also recorded a 33% increase in Q4 EBITDA to €39.5m, stating this resulted from strong revenue growth.

The total led to a Q4 profit of €23.2m, compared to the business’ €33.3m loss in the same period of the previous year.

For the year ahead, Sportradar was bullish, reiterating its previous guidance of a 20% year-on-year increase in revenue and EBITDA.

As a result of its confidence in long-term outlook and ability to generate “significant excess capital” going forward, the company announced a €200m share buyback programme.

“2023 was another dynamic and successful year for the company delivering our third consecutive year of more than 20% revenue growth, improved profitability, and margin expansion,” said CEO Carsten Koerl.

“We are pleased with our growth momentum, fuelled by our best-in-class content portfolio, innovative product roadmap and technology capabilities. 

“We remain laser focused on disciplined execution of our growth strategy and delivering tremendous value for our clients and our shareholders.”

Sportradar reports strong growth in all segments

The provider reported strong growth in all divisions.

Sportradar’s US operations stood out as the highlight, with Q4 revenue growing 28% to €52.7m.

The business highlighted strong market performance as responsible. This includes through the payments from its NBA betting data rights deal and via the sale of additional services to new and existing clients.

Due to money flowing from the company’s Taiwan Sports Lottery managed betting services deal, the company recorded a 25% increase in the Rest of World Betting segment to €132.0m.

Meanwhile, Sportradar’s Rest of World Audiovisual division also reported 20% growth to €50.0m.

The provider pointed to new CONMEBOL and NBA data rights as driving the revenue growth.

The results come in the wake of a recently announced company restructure that will see the business divided into six divisions directly reporting to Koerl.

Sportradar said the purpose of the reorg was to centralise key business functions in order to foster improve collaboration and faster decision-making processes.

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