Sportradar Q1 2026 revenue up 11% and adjusted EBITDA up 12%

Sportradar reported a solid financial performance for the first quarter of 2026, reflecting continued momentum in its global sports data and technology operations. The company generated revenue of €347 million, marking an 11% increase compared to the same period in the previous year. This growth underscores the resilience of its core business model and the ongoing expansion of its services across regulated betting and media markets.

Adjusted EBITDA reached €66 million, representing a 12% year-on-year increase. The adjusted EBITDA margin also improved slightly to 19.0%, signaling enhanced operational efficiency and disciplined cost management. These results indicate that Sportradar continues to strengthen its profitability profile even as it invests in long-term growth initiatives.

Another key performance indicator, the Customer Net Retention Rate, stood at 108% when excluding contributions from IMG. This figure highlights the company’s ability to deepen relationships with existing clients while maintaining a stable and recurring revenue base. Sustained customer retention is widely regarded as a critical factor in the long-term success of data-driven businesses, particularly in highly competitive global markets.

Despite these positive indicators, the company reported a net loss of €6 million for the quarter. This compares with a profit recorded in the same period of the previous year. According to the company, the primary factor behind this shift was unrealized foreign currency losses. Fluctuations in exchange rates, particularly involving the U.S. dollar and the euro, had a measurable impact on reported earnings.

Additional pressures came from increased depreciation and amortization expenses, along with higher finance costs. These were largely associated with the integration of assets acquired through IMG ARENA. While such costs can weigh on short-term profitability, they are typically linked to long-term strategic investments that may enhance future revenue streams.

Segment performance and operational highlights

The company’s performance across its business segments reveals a mixed but generally positive picture. The Betting Technology and Solutions segment remained the primary driver of growth, generating €288 million in revenue during the quarter. This represents a 15% increase compared to the prior year.

Within this segment, Betting and Gaming Content experienced particularly strong growth, rising by 20%. This expansion was supported by several factors, including contributions from IMG ARENA assets, increased customer demand for premium sports content and continued growth in the United States market. The ability to offer comprehensive and high-quality content remains a key competitive advantage for Sportradar.

However, Managed Betting Services recorded a slight decline of 2%. This modest decrease suggests some variability in demand for specific service offerings, although it did not materially affect the overall performance of the segment.

The Sports Content, Technology and Services segment generated revenue of €59 million, reflecting a 4% decline compared to the previous year. This decrease was primarily attributed to lower revenue from Marketing and Media Services. Growth in Integrity Services partially offset this decline, demonstrating ongoing demand for solutions that help ensure fairness and transparency in sports competitions.

Integrity services have become increasingly important in the global sports ecosystem, particularly as regulatory scrutiny intensifies and stakeholders seek to maintain trust in sporting outcomes. Sportradar’s continued investment in this area aligns with broader industry trends.

Cash flow strength and geographic distribution

Despite the reported net loss, Sportradar demonstrated strong cash generation during the quarter. Net cash from operating activities reached €109 million, reflecting the company’s ability to convert revenue into cash effectively. Free cash flow rose by 38% to €44 million, indicating improved financial flexibility.

This strong cash performance provides the company with additional resources to fund strategic initiatives, invest in technology and pursue shareholder return programs. It also highlights the underlying strength of the business, even in the face of external financial pressures such as currency fluctuations.

From a geographic perspective, revenue growth was led by the Rest of World segment, which increased by 14%. The United States market also delivered growth, albeit at a more modest rate of 4%. The U.S. accounted for 26% of total company revenue in the quarter, compared to 28% in the previous year.

While the relative contribution of the U.S. market declined slightly, it remains a critical region for Sportradar’s long-term strategy. The continued expansion of regulated sports betting in the United States presents significant opportunities for data providers and technology companies.

Strategic outlook and financial guidance

Sportradar reaffirmed its full-year outlook for 2026, maintaining a positive growth trajectory. On a constant currency basis, the company expects revenue to grow between 23% and 25%. Reported revenue is projected to fall within a range of €1,557 million to €1,582 million.

Adjusted EBITDA is expected to reach between €390 million and €400 million, with anticipated margin expansion of approximately 200 to 225 basis points. The company also forecasts free cash flow conversion above the 2025 level of 56%, indicating continued improvement in cash efficiency.

These projections suggest that Sportradar remains confident in its ability to navigate market challenges while capitalizing on growth opportunities. The emphasis on constant currency performance reflects the company’s awareness of ongoing exchange rate volatility and its impact on reported results.

Leadership perspective and strategic priorities

Carsten Koerl, Chief Executive Officer of Sportradar, commented on the company’s performance and strategic direction:

“Sportradar’s first quarter growth reflects our premier position as the scaled leader in the expanding global sports data ecosystem. We continue to deepen our relationships across our expansive distribution network, providing additional content, products and services to our sportsbook, media and technology clients. Our recently acquired portfolio of IMG content has further bolstered our diverse offering and is resonating with customers worldwide while also expanding our margins as we increasingly leverage our existing infrastructure. Maximizing the opportunities our market leadership position and long-standing relationships remains our priority as we also begin to capitalize on new avenues of growth, including prediction markets and iGaming. Driving value for our partners and clients has always been our focus and continuing to do so should build additional shareholder value in the months and years ahead. Our confidence in our trajectory is demonstrated by the increased buyback activity this past quarter as well as the enhanced open market share repurchase program announced today.”

The statement reflects a strategic focus on leveraging existing assets, expanding into new verticals and strengthening relationships with partners and clients.

Share repurchase program and corporate developments

Alongside its financial results, Sportradar announced continued activity under its share repurchase program. During the first quarter, the company repurchased $90 million worth of shares. It also introduced a new $250 million enhanced open market share repurchase program.

As of April 24, 2026, Sportradar had repurchased 12.5 million shares with a total value of $228 million since the program’s inception. Of this amount, $117 million was repurchased in 2026 alone. Share buybacks are often viewed as a signal of management’s confidence in the company’s future prospects, as well as a means of returning value to shareholders.

In addition to financial initiatives, the company announced several strategic developments. Sameer Deen was named as the incoming Chief Operating Officer, signaling a strengthening of the executive leadership team. The company also launched the Playradar iGaming brand, targeting regulated markets with tailored solutions.

Further developments included the expansion of its partnership with Hard Rock Bet, the extension of its integrity agreement with FIFA through 2031 and a new multi-year agreement with Liga Nacional de Basquete. These agreements highlight the company’s ongoing commitment to expanding its global footprint and reinforcing its position in key markets.

Conclusion

Sportradar’s first-quarter performance in 2026 presents a balanced picture of growth, investment and external challenges. The company achieved solid revenue and EBITDA expansion, supported by strong demand for sports data and betting technology solutions. At the same time, currency fluctuations and acquisition-related costs affected reported profitability.

Importantly, the company demonstrated strong cash generation and maintained a positive outlook for the full year. Its continued investment in content, technology and partnerships reflects a long-term strategic approach aimed at sustaining growth in a competitive and evolving industry.

The introduction of an enhanced share repurchase program, combined with ongoing expansion into new markets and verticals, indicates confidence in future performance. While short-term financial pressures remain, Sportradar appears well positioned to capitalize on opportunities within the global sports data ecosystem.

Overall, the company’s results suggest a disciplined balance between growth ambitions and financial management. If current trends continue, Sportradar may strengthen its role as a leading provider of sports data and technology solutions in the years ahead.

FAQs

What revenue did Sportradar report for Q1 2026?
Sportradar reported revenue of €347 million for the first quarter of 2026, reflecting an 11% year-on-year increase.

Why did Sportradar report a loss despite revenue growth?
The company recorded a €6 million loss mainly due to unrealized foreign currency losses and higher costs related to acquisitions.

How did adjusted EBITDA perform in Q1 2026?
Adjusted EBITDA increased by 12% to €66 million, with the margin improving to 19.0%.

Which segment contributed most to growth?
The Betting Technology and Solutions segment was the main growth driver, supported by strong performance in Betting and Gaming Content.

What is Sportradar’s Customer Net Retention Rate?
The company reported a Customer Net Retention Rate of 108%, excluding IMG contributions.

How did the U.S. market perform?
Revenue from the United States grew by 4% and accounted for 26% of total company revenue.

What is the outlook for full-year 2026?
Sportradar expects revenue between €1,557 million and €1,582 million and adjusted EBITDA between €390 million and €400 million.

What is the purpose of the share repurchase program?
The share buyback program is designed to return value to shareholders and demonstrate confidence in the company’s future performance.

Who is the incoming Chief Operating Officer?
Sameer Deen has been announced as the incoming Chief Operating Officer of Sportradar.

What strategic initiatives did the company announce?
Sportradar launched the Playradar iGaming brand, expanded partnerships and extended key agreements to support long-term growth.