Sports data and technology heavyweight Sportradar recorded significant year-on-year (YoY) increases in both revenue and profit during the first financial quarter (Q1) of 2025.
The Switzerland-based firm brought in total revenues of €311.2 million ($345.7 million) during the three months up to March 31, as opposed to €265.8 million in Q1 of 2024.
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Profit, meanwhile, came to €24 million, up YoY from a loss of €1 million for the equivalent period last year.
In terms of the two main product segments, betting technology and solutions brought in €250 million, up from €219.9 million the prior year, while sports content, technology, and services contributed €61.2 million, as opposed to €45.9 million for Q1 2024.
The betting technology rise was primarily attributed to "customer uptake of additional products and from US market growth".
Geographically, US income came to €86.1 million (a 31% YoY rise) with the rest of the world delivering €225.1 million.
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By GlobalDataCarsten Koerl, Sportradar's chief executive, said: "We had a strong start to the year with record quarterly revenue … The continued momentum we are generating builds upon our success from last year, demonstrating the durability of our business and our mission-critical role in the expanding sports ecosystem."
Q1 earnings before interest, taxation, depreciation, and amortization (EBITDA) came to €59 million, up YoY by €12 million.
Sportradar is predicting total 2025 revenue of at least €1.27 billion (which would represent YoY growth of at least 15%), and adjusted EBITDA of at least €281 million.
In terms of significant Sportradar activity during Q1, in mid-March the firm entered into a definitive acquisition agreement with sports, media, and entertainment heavyweight Endeavor, covering the IMG Arena betting and sports data business.
The deal entails Endeavor paying Sportradar $125 million to take over IMG Arena’s global portfolio of betting rights, with the agency shelling out a further $100 million to certain sports rightsholders.
In February, meanwhile, Sportradar and North America's Major League Baseball (MLB) entered into an eight-year partnership extension, which involves the league taking an equity stake in its partner.
The tie-up between the two parties, which originally began in 2014, has now been extended through 2032.
The equity stake element sees MLB issued a total of 1,855,724 Class A Sportradar shares.
More recently, Brazilian soccer's CBF governing body extended its exclusive partnership with the Sportradar Integrity Services subsidiary.
