Sportradar Group Ag Stock Earnings Reports

Sportradar reported Q1 2026 revenue of EUR 347m (+11% YoY; ~+16% constant currency) and adjusted EBITDA of EUR 66m (19% margin). Free cash flow was EUR 44m, with cash conversion improving to 67%. Management highlighted strong commercial progress integrating IMG ARENA rights (75% of core betting clients consuming IMG content; cross-sell momentum and expectation to exceed prior 25% synergy target) and continued scaling of Managed Trading Services (turnover +24% but near-term margin impact from unfavorable sporting outcomes). The company launched Playradar (iGaming) and is actively pursuing prediction market opportunities with leagues and ecosystem players; management expects some prediction-market revenue in H2. FX volatility (weaker USD vs EUR) and timing of operator marketing spend were the main Q1 headwinds; revenue would have been ~+16% excluding FX. Sportradar reiterated full-year 2026 guidance: constant-currency revenue growth of 23–25% (reported $1.56–$1.58bn at current FX) and adjusted EBITDA of $390–$400m (CC growth 34–37%) with ~200–225 bps margin expansion. The Board approved an enhanced $250m open-market repurchase program (under a $1bn authorization); the company repurchased ~$90m in Q1 and the CEO intends to personally buy $10m of shares. Management strongly denied recent short-seller allegations, described a robust KYC/compliance framework and ongoing engagement with regulators and league partners. Expected restructuring charges of $13–$18m later in 2026 are intended to drive further operating leverage. Balance sheet: $322m cash, no debt.