Sportradar Reports Record Revenue and Expands Strategic Reach in Q1 2025
Sportradar delivered its strongest quarterly results to date, reporting €311 million in revenue for Q1 2025, a 17% year-over-year increase. In addition, the company signed a major acquisition deal with IMG ARENA, enhancing its global sports rights portfolio and reinforcing its long-term strategic direction.
Record Quarterly Performance
Sportradar recorded €59 million in adjusted EBITDA for Q1 2025, marking a 25% increase from the previous year. The adjusted EBITDA margin rose by 120 basis points to 18.9%. As a result, free cash flow reached €32 million, up from zero in the same quarter last year. This translated to a 54% conversion rate.
The company experienced growth across all core segments. Revenue from betting technology and solutions rose by 14%. This was largely due to strong demand for Managed Trading Services and increased client activity. Additionally, the sports content, technology, and services segment grew by 33%, supported by a 36% increase in marketing and media services and a 23% rise in sports performance products.
Global Expansion and Market Reach
Sportradar operates at scale, delivering data and content for about one million matches each year across 85 sports. It works with 400 leagues and federations, 800 betting operators, and 900 media or tech partners. While the European market is projected to grow at a 9% CAGR through 2027, Sportradar has also made early moves in Brazil. Furthermore, it sees long-term growth opportunities in the Asia-Pacific region, including countries like India and Japan.
The company continues to invest in new products to deepen customer engagement and improve take rates. For example, 4Sight Streaming and the Virtualized Live Match Tracker are designed to support higher-value services, such as in-play betting and managed solutions. In football, Sportradar covers 150,000 matches annually. In basketball, it offers up to 1,800 micro-market betting options per match.
IMG ARENA Acquisition Supports Growth Strategy
In Q1, Sportradar signed an agreement to acquire IMG ARENA. The acquisition adds rights to 39,000 official data events and 30,000 streaming events per year. It spans 14 sports and over 190 competitions across six continents. Notably, 70% of these rights cover the most bet-on sports globally—basketball, soccer, and tennis. The deal is expected to close in Q4 2025 and will likely boost EBITDA and margin immediately.
The company remains focused on cost discipline while scaling operations. Adjusted personnel expenses grew by 16% to €80 million, with new hires concentrated in high-impact areas. Moreover, although purchased services and other operating costs increased, operating leverage helped maintain margin expansion. Sportradar expects a 200-basis-point margin improvement in 2025 and targets a long-term adjusted EBITDA margin above 30%.
2025 and Three-Year Outlook
For the full year 2025, Sportradar projects revenue of €1.273 billion and adjusted EBITDA of €281 million, with a margin of 22.1%. It also expects free cash flow conversion to exceed last year’s 53%. By 2027, the company aims to generate €1.7 billion in revenue and achieve a 27% EBITDA margin, excluding the impact of the IMG ARENA acquisition.