Sportradar posts record 2025 results with €1.29bn full year revenue

Sportradar has reported record financial results for the fourth quarter and full year ended December 31, 2025, marking a period of sustained growth and operational expansion. The company confirmed that full-year revenue increased by 17 percent year over year to €1,290 million. Adjusted EBITDA rose by 33 percent to €297 million, reflecting a margin expansion to 23.0 percent.

Net cash generated from operating activities reached €403 million while free cash flow rose to a record €167 million. Profit for the full year amounted to €100 million compared to €33.6 million in the prior year, underscoring a notable improvement in overall profitability.

The company’s Customer Net Retention Rate stood at 109 percent, indicating that existing clients not only renewed their contracts but in many cases expanded their engagement with Sportradar’s services.

Fourth quarter results show accelerated momentum

The fourth quarter of 2025 continued the positive trajectory. Revenue for the period increased by 20 percent year over year to €369 million. Adjusted EBITDA climbed 48 percent to €89 million with margin expanding to 24.2 percent.

Profit for the quarter reached €4 million compared to a loss of €1 million in the same period of 2024. This shift from a quarterly loss to profitability reflects both revenue growth and operating leverage.

Within the core segments, Betting Technology and Solutions revenue grew 24 percent to €305 million during the quarter. Sports Content, Technology and Services revenue increased by 5 percent to €63 million.

Geographically, revenue from the Rest of World segment rose by 23 percent while revenue in the United States increased by 11 percent during the quarter. Management noted that foreign currency movements, particularly those related to the US dollar, continued to influence reported results.

Full year segment performance highlights diversified growth

For the full year, Betting Technology and Solutions revenue increased by 15 percent to €1,047 million. Sports Content, Technology and Services revenue rose by 22 percent to €243 million. Managed Betting Services revenue reached €230 million, reflecting growth of 15 percent.

The United States remains a strategic growth market for the company. Revenue in the US increased by 23 percent to €324 million and accounted for 25 percent of total company revenue. Revenue generated in the Rest of World segment rose by 15 percent to €966 million.

These figures illustrate a diversified revenue base across products and geographies. The continued expansion in the US market reflects the ongoing development of regulated sports betting environments across several states.

IMG ARENA acquisition expands global rights portfolio

A significant milestone during the year was the completion of the acquisition of IMG ARENA on November 1, 2025. The total financial consideration for the transaction amounted to $225 million.

This consideration included approximately $122 million in cash prepayments made by the seller to certain sports rightsholders and approximately $103 million payable to Sportradar over two years.

The acquired portfolio comprises relationships with more than 70 rights holders and provides access to approximately 38,000 official data events and 29,000 streaming events across 14 global sports. Following the integration of these assets, Sportradar’s coverage now exceeds one million matches annually.

The company has stated that the acquisition is intended to enhance its competitive positioning in official data and audiovisual content, areas that are central to modern sports betting and fan engagement ecosystems.

Share repurchase program expanded

The Board of Directors approved a substantial expansion of the company’s share repurchase authorization to $1 billion. The program was originally approved at $200 million in March 2024. It was subsequently increased by $100 million in October 2025 and by an additional $700 million in February 2026.

As of February 27, 2026, Sportradar had repurchased 9.2 million shares for a total of $171 million. Of this amount, $91 million was repurchased during 2025.

Share repurchase programs are typically used by companies to return capital to shareholders and to signal confidence in long term business prospects. The expansion of the authorization reflects management’s assessment of financial strength and future outlook.

Outlook for fiscal 2026

Looking ahead, Sportradar projects revenue growth on a constant currency basis of 23 percent to 25 percent for fiscal 2026. Reported revenue is expected to range between €1,557 million and €1,582 million.

Adjusted EBITDA is projected to range between €390 million and €400 million. The company also targets further Adjusted EBITDA margin expansion of approximately 200 to 225 basis points.

Free cash flow conversion is anticipated to exceed the 2025 level of 56 percent, suggesting a continued focus on capital discipline and operational efficiency.

These forward looking statements are based on current expectations and assumptions and are subject to customary business risks and uncertainties.

Leadership commentary

Carsten Koerl, Chief Executive Officer of Sportradar, stated that the company delivered record revenue, margin expansion and increased free cash flow in 2025. He added that the IMG acquisition strengthens the company’s competitive position and that Sportradar increased its share repurchase authorization based on financial performance and confidence in its long term trajectory.

Such commentary reflects management’s view that the company is positioned to benefit from structural growth trends in global sports betting and digital sports content distribution.

Financial resilience and strategic direction

The 2025 results demonstrate a combination of revenue growth, margin expansion and improved profitability. The increase in net cash from operating activities and record free cash flow provide the company with financial flexibility to pursue strategic investments, manage debt obligations and return capital to shareholders.

At the same time, exposure to foreign exchange fluctuations remains a factor that can affect reported figures, particularly given the company’s global footprint and material US operations.

The integration of IMG ARENA will likely remain a focal point in 2026 as the company seeks to extract synergies and maximize the value of newly acquired rights agreements. While integration processes inherently carry execution considerations, the transaction aligns with Sportradar’s broader strategy of securing official data rights and strengthening relationships with sports organizations worldwide.

Conclusion

Sportradar’s 2025 financial performance represents a significant milestone in the company’s development. With double digit revenue growth, strong EBITDA expansion and a return to higher profitability levels, the company has reinforced its position as a major participant in the global sports data and betting technology sector.

The acquisition of IMG ARENA broadens its rights portfolio and enhances its scale in official data and streaming services. Meanwhile, the expanded share repurchase program signals management’s confidence in the business model and future prospects.

Looking forward to 2026, the company’s guidance suggests continued growth supported by operational leverage and strategic investments. While external factors such as currency fluctuations and market conditions remain relevant, Sportradar enters the new fiscal year with strengthened financial metrics and an expanded global footprint.

FAQs

What was Sportradar’s total revenue for 2025?
Sportradar reported full-year revenue of €1,290 million for 2025, representing a 17 percent increase compared to the previous year.

How much did adjusted EBITDA increase in 2025?
Adjusted EBITDA increased by 33 percent to €297 million with margin expanding to 23.0 percent.

What was the company’s net profit for the year?
Profit for the full year reached €100 million compared to €33.6 million in the prior year.

How did the fourth quarter perform?
Fourth-quarter revenue rose 20 percent to €369 million while adjusted EBITDA increased 48 percent to €89 million.

What is the significance of the IMG ARENA acquisition?
The acquisition expanded Sportradar’s global sports betting rights portfolio and added relationships with more than 70 rights holders.

How many events does Sportradar now cover annually?
Following the acquisition, the company covers more than one million matches annually across various sports.

How important is the United States market for Sportradar?
The United States accounted for 25 percent of total company revenue in 2025, reflecting strong growth in that region.

What is the size of the share repurchase authorization?
The Board expanded the share repurchase authorization to $1 billion as of February 2026.

What are the revenue expectations for 2026?
The company expects reported revenue between €1,557 million and €1,582 million for fiscal 2026.

What margin improvements are targeted for 2026?
Sportradar aims for adjusted EBITDA margin expansion of approximately 200 to 225 basis points in 2026.