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Dec 31, 2025
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Sportradar Q4 2025 Earnings Report
Sportradar Q4 2025 Earnings Report
Key Takeaways
Sportradar delivered a strong fourth quarter with 20% revenue growth and significant Adjusted EBITDA margin expansion. The company completed the strategic acquisition of IMG ARENA and announced a major expansion of its share repurchase program to $1 billion, reflecting confidence in its long-term growth and cash generation capabilities.
Q4 revenue increased 20% year-over-year to €369 million, driven by strong performance in Betting Technology & Solutions.
Adjusted EBITDA for the quarter grew 48% to €89 million, with margins expanding 451 basis points to 24.2%.
Completed the acquisition of IMG ARENA in November 2025, adding over 70 rights holders and significantly expanding the global sports betting rights portfolio.
The Board authorized a massive increase in the share repurchase plan, bringing the total authorization to $1 billion.
Achieved a full-year Customer Net Retention Rate of 109%, demonstrating successful cross-selling and up-selling.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Sportradar expects strong growth in 2026, targeting revenue between €1,557 million and €1,582 million and further Adjusted EBITDA margin expansion.
Positive Outlook
- Expected revenue growth of 23% to 25% on a constant currency basis.
- Adjusted EBITDA growth targeted at 34% to 37% on a constant currency basis.
- Anticipated Adjusted EBITDA margin expansion of 200 to 225 basis points.
- Free cash flow conversion rate expected to exceed 56%.
- Integration of IMG ARENA expected to be accretive to margins and cash flow.
Challenges Ahead
- Foreign currency movements, particularly the U.S. dollar, continue to be a headwind.
- Increased sport rights costs related to ATP and MLB partnerships.
- Higher personnel expenses to support growth initiatives.
- Potential impact from unrealized currency fluctuations on U.S. dollar-denominated rights.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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