Sportradar : Press Release (sportradar reports first quarter results)

Published: 2025-05-12 07:05:12 ET SRAD

Published on 05/12/2025 at 07:05

May 12, 2025

€32 million

ST. GALLEN, Switzerland, May 12, 2025 (GLOBE NEWSWIRE) -- Sportradar Group AG (NASDAQ: SRAD) ("Sportradar" or the "Company"), a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, today announced financial results for its first quarter ended March 31, 2025.

Carsten Koerl, Chief Executive Officer of Sportradar, said: "We had a strong start to the year with record quarterly revenue as we delivered broad-based growth across our leading product suite and diverse global footprint, while expanding margins and cash flow. 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. During the quarter we also further bolstered our leading content portfolio with the extension and expansion of our partnership with Major League Baseball and we signed an agreement to acquire IMG ARENA's sports betting rights portfolio. We are excited by the unique opportunities these valuable properties will provide to our customers and look forward to generating additional value for our shareholders in 2025 and beyond."

Three-Month Period Ended March 31,

in € thousands (unaudited)

2025

2024

Change

Revenue by product

Betting & Gaming Content

193,807

171,588

22,219

13%

Managed Betting Services

56,214

48,328

7,886

16%

Betting Technology & Solutions

250,021

219,916

30,105

14%

Marketing & Media Services

46,610

34,278

12,332

36%

Sports Performance

11,411

9,306

2,105

23%

Integrity Services

3,189

2,394

795

33%

Sports Content, Technology & Services

61,210

45,978

15,232

33%

Total Revenue

311,231

265,894

45,337

17%

Revenue by geography

Rest of World

225,130

200,332

24,798

12%

United States

86,101

65,562

20,539

31%

Total Revenue

311,231

265,894

Total revenue for the first quarter was €311 million, up €45 million, or 17% year-over-year, driven by 14% growth in Betting Technology & Solutions and 33% growth in Sports Content, Technology & Services.

Betting Technology & Solutions revenues of €250 million were up 14% year-over-year primarily driven by a 13% increase in Betting & Gaming Content primarily from customer uptake of additional products and from U.S. market growth. Managed Betting Services revenues were up 16% driven by strong growth in Managed Trading Services from increased turnover and higher trading margins.

Sports Content, Technology & Services revenues of €61 million increased 33% year-over-year primarily driven by 36% growth in Marketing & Media Services led by higher ad:s revenue as several sportsbooks increased spending on marketing campaigns, and from contributions from the expansion of our affiliate marketing capabilities.

The Company generated strong revenue growth globally with Rest of World up 12% and the United States up 31%. As a percentage of total Company revenues, United States revenue represented 28% of total Company revenue in the first quarter as compared to 25% in the prior year quarter due to continued market growth and additional customer uptake of our products.

Customer Net Retention Rate of 122% further demonstrates our ability to cross-sell and up-sell to our clients, as well as the market growth in the United States.

Profit for the period was €24 million, up €25 million, compared to a loss of €1 million in the same quarter a year ago, driven by strong operating results and a foreign currency gain of €28 million in the quarter as compared to a €14 million loss last year, due to unrealized currency fluctuations mainly associated with the U.S. dollar-denominated sport rights. These increases were partially offset primarily by higher share-based compensation and amortization of capitalized sport rights licenses expenses compared with the first quarter a year ago.

First quarter Adjusted EBITDA was €59 million, up €12 million, or 25%, compared to €47 million in the same quarter a year ago. The increase was largely driven by the 17% revenue growth, partially offset by increased sport rights costs primarily related to the continued success of the ATP partnership deal, higher purchased services driven by investments in developing our product portfolio and increased personnel expenses to support growth initiatives.

The Company's cash and cash equivalents were €358 million as of March 31, 2025 as compared with €348 million as of December 31, 2024. The increase was primarily driven by net cash generated from operating activities of €102 million due to the strong operating performance, partially offset by net cash used in investing activities of €66 million, primarily from the acquisition of additional sport rights and from net cash used in financing activities of €19 million, due primarily to share repurchases related to employee stock grants. Free cash flow for the first quarter was €32 million, an increase of €32 million compared to the same period a year ago.

Including its undrawn credit facility, the Company had total liquidity of €578 million at March 31, 2025 as compared to €568 million as of December 31, 2024, and no debt outstanding.

Sportradar reiterated its fiscal 2025 outlook as follows:

The 2025 guidance does not include any impact from the pending acquisition of IMG ARENA given the uncertainty around the timing of close. Guidance will be updated to incorporate the anticipated uplift resulting from this acquisition following the closing of the transaction.

In March 2024, the Board of Directors approved a $200 million share repurchase plan. As of May 9, 2025 the Company has repurchased 4.8 million

shares under the plan for a total of $86 million, including 3.0 million shares in conjunction with the recently completed secondary offering.

Sportradar will host a conference call to discuss the first quarter results today, May 12, 2025, at 8:30 a.m. Eastern Time. Those wishing to participate via webcast should access the earnings call through Sportradar's Investor Relations website. An archived webcast with the accompanying slides will be available at the Company's Investor Relations website for one year after the conclusion of the live event.

Sportradar Group AG (NASDAQ: SRAD), founded in 2001, is a leading global sports technology company creating immersive experiences for sports fans and bettors. Positioned at the intersection of the sports, media and betting industries, the Company provides sports federations, news media, consumer platforms and sports betting operators with a best-in-class range of solutions to help grow their business. As the trusted partner of organizations like the ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA, and Bundesliga, Sportradar covers close to a million events annually across all major sports. With deep industry relationships and expertise, Sportradar is not just redefining the sports fan experience, it also safeguards sports through its Integrity Services division and advocacy for an integrity-driven environment for all involved.

For more information about Sportradar, please visit https://www.sportradar.com

1 Non-IFRS measure or Operating Metric. See the sections captioned "Non-IFRS Financial Measures and Operating Metric" and "IFRS to Non-IFRS reconciliations" for more details.

CONTACT:

Investor Relations:

Jim Bombassei [email protected]

Media:

Sandra Lee [email protected]

We have provided in this press release financial information that has not been prepared in accordance with IFRS, including Adjusted EBITDA, Adjusted EBITDA margin, Adjusted purchased services, Adjusted personnel expenses, Adjusted other operating expenses, Free cash flow, and Free cash flow conversion, as well as our operating metric, Customer Net Retention Rate. We use these non-IFRS financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to IFRS measures, in evaluating our ongoing operational performance. We believe that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-IFRS financial measures to investors.

Non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS. Investors are encouraged to review the reconciliation of these non-IFRS financial measures to their most directly comparable IFRS financial measures provided in the financial statement tables included below in this press release.

License fees relating to sport rights are a key component of how we generate revenue and one of our main operating expenses. Only licenses that meet the recognition criteria of IAS 38 are capitalized. The primary distinction for whether a license is capitalized or not capitalized is the contracted length of the applicable license. Therefore, the type of license we enter into can have a significant impact on our results of operations depending on whether we are able to capitalize the relevant license. As such, our presentation of Adjusted EBITDA reflects the full costs of our sport right's licenses. Management believes that, by including amortization of sport rights in its calculation of Adjusted EBITDA, the result is a financial metric that is both more meaningful and comparable for management and our investors while also being more indicative of our ongoing operating performance.

We present Adjusted EBITDA because management believes that some items excluded are non-recurring in nature and this information is relevant in evaluating the results relative to other entities that operate in the same industry. Management believes Adjusted EBITDA is useful to investors for evaluating Sportradar's operating performance against competitors, which commonly disclose similar performance measures. However, Sportradar's calculation of Adjusted EBITDA may not be comparable to other similarly titled performance measures of other companies. Adjusted EBITDA is not intended to be a substitute for any IFRS financial measure.

Items excluded from Adjusted EBITDA include significant components in understanding and assessing financial

performance. Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation, or as an alternative to, or a substitute for, profit for the period, revenue or other financial statement data presented in our consolidated financial statements as indicators of financial performance. We compensate for these limitations by relying primarily on our IFRS results and using Adjusted EBITDA only as a supplemental measure.

The Company is unable to provide a reconciliation of Adjusted EBITDA to profit (loss) for the period or Adjusted EBITDA margin to Profit for the period as a percentage of revenue (in each case the most directly comparable IFRS financial measure) on a forward-looking basis without unreasonable effort because items that impact these IFRS financial measures are not within the Company's control and/or cannot be reasonably predicted. These items may include, but are not limited to, foreign exchange gains and losses. Such information may have a significant, and potentially unpredictable, impact on the Company's future financial results.

We present Adjusted purchased services, Adjusted personnel expenses, and Adjusted other operating expenses (together, "Non-IFRS expenses") because management utilizes these financial measures to manage its business on a day-to-day basis and believes that they are the most relevant measures of expenses. Management believes these adjusted expense measures provide expanded insight to assess revenue and cost performance, in addition to the standard IFRS-based financial measures. Management believes these adjusted expense measures are useful to investors for evaluating Sportradar's operating performance against competitors. However, Sportradar's calculation of adjusted expense measures may not be comparable to other similarly titled performance measures of other companies. These adjusted expense measures are not intended to be a substitute for any IFRS financial measure.

We consider Free cash flow and Free cash flow conversion to be liquidity measures that provide useful information to management and investors about the amount of cash generated by the business after the purchase of property and equipment, the purchase of intangible assets and payment of lease liabilities, which can then be used, among other things, to invest in our business and make strategic acquisitions, as well as our ability to convert our earnings to cash. A limitation of the utility of Free cash flow and Free cash flow conversion as measures of liquidity is that they do not represent the total increase or decrease in our cash balance for the year.

The Company is unable to provide a reconciliation of Free cash flow to net cash from operating activities or Free cash flow conversion to net cash from operating activities as a percentage of profit for the period (in each case the most directly comparable IFRS financial measure) on a forward-looking basis without unreasonable effort because items that impact these IFRS financial measures are not within the Company's control and/or cannot be reasonably predicted. These items may include, but are not limited to, changes in working capital, the timing of customer payments, the timing and amount of tax payments, and other items that are non-recurring or unusual. Such information may have a significant, and potentially unpredictable, impact on the Company's future financial results.

In addition, we define the following operating metric as follows:

Certain statements in this press release may constitute "forward-looking" statements and information within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events, including, without limitation, statements regarding future financial or operating performance, planned activities and objectives, anticipated growth resulting therefrom, market opportunities, strategies and other expectations, and our guidance and outlook, including expected performance for the full year 2025. In some cases, these forward-looking statements

can be identified by words or phrases such as "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "seek," "believe," "estimate," "predict," "potential," "projects", "continue," "contemplate," "confident," "possible" or similar words. These forward-looking statements are

subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: economy downturns and political and market conditions beyond our control, including the impact of the Russia/Ukraine and other military conflicts such as acts or war or terrorism and foreign exchange rate fluctuations; pandemics could have an adverse effect on our business; dependence on our strategic relationships with our sports league partners; effect of social responsibility concerns and public opinion on responsible gaming requirements on our reputation; potential adverse changes in public and consumer tastes and preferences and industry trends; potential changes in competitive landscape, including new market entrants or disintermediation; potential inability to anticipate and adopt new technology and products, including efficiencies achieved through the use of artificial intelligence; potential errors, failures or bugs in our products; inability to protect our systems and data from continually evolving cybersecurity risks, security breaches or other technological risks; potential interruptions and failures in our systems or infrastructure; difficulties in our ability to evaluate, complete and integrate acquisitions (including the proposed IMG ARENA acquisition) successfully; our ability to comply with governmental laws, rules, regulations, and other legal obligations, related to data privacy, protection and security; ability to comply with the variety of unsettled and developing U.S. and foreign laws on sports betting; dependence on jurisdictions with uncertain regulatory frameworks for our revenue; changes in the legal and regulatory status of real money gambling and betting legislation on us and our customers; our inability to maintain or obtain regulatory compliance in the jurisdictions in which we conduct our business; our ability to obtain, maintain, protect, enforce and defend our intellectual property rights; our ability to obtain and maintain sufficient data rights from major sports leagues, including exclusive rights; any material weaknesses identified in our internal control over financial reporting; inability to secure additional financing in a timely manner, or at all, to meet our long-term future capital needs; and other risk factors set forth in the section titled "Risk Factors" in our Annual Report on Form 20-F for the fiscal year ended December 31, 2024, and other documents filed with or furnished to the SEC, accessible on the SEC's website at https://www.sec.gov and on our website at https://investors.sportradar.com. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. One should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

SPORTRADAR GROUP AG

CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

(Unaudited)

Three-Month Period Ended March 31,

in €'000 and in thousands of shares

2025

20241

Revenue

311,231

265,894

Personnel expenses

(102,356)

(79,567)

Sport rights expenses (including amortization of capitalized sport rights licenses)

(104,030)

(90,943)

Purchased services

(48,989)

(39,146)

Other operating expenses

(28,114)

(21,435)

Impairment loss on trade receivables, contract assets and other financial assets

(1,737)

(1,830)

Internally-developed software cost capitalized

11,656

10,526

Depreciation and amortization (excluding amortization of capitalized sport rights licenses)

(16,318)

(11,985)

Foreign currency gain (loss), net

27,524

(14,466)

Finance income

2,333

2,012

Finance costs

(21,853)

(18,749)

Net income before tax

29,347

311

Income tax expense

(5,009)

(960)

Profit (loss) for the period

24,338

(649)

Other comprehensive income

Items that will not be reclassified subsequently to profit or (loss)

Remeasurement of defined benefit liability

(2)

Related deferred tax expense

Items that may be reclassified subsequently to profit or (loss)

Foreign currency translation adjustment attributable to the owners of the company

(4,937)

4,009

Foreign currency translation adjustment attributable to non-controlling interests

(226)

(12)

(5,163)

3,997

Other comprehensive (loss) income for the period, net of tax

(5,137)

3,998

Total comprehensive income for the period

19,201

3,349

Profit (loss) attributable to:

Owners of the Company

24,208

(574)

Non-controlling interests

130

(75)

24,338

(649)

Total comprehensive income (loss) attributable to:

Owners of the Company

19,297

3,436

Non-controlling interests

(96)

(87)

Profit per Class A share attributable to owners of the Company

19,201

3,349

Basic

0.08

(0.00)

Diluted

0.07

(0.00)

Profit per Class B share attributable to owners of the Company

Basic

0.01

(0.00)

Diluted

0.01

(0.00)

Weighted-average number of shares

Weighted-average number of Class A shares (basic)

210,610

209,871

Weighted-average number of Class A shares (diluted)

230,413

223,606

Weighted-average number of Class B shares (basic and diluted)

903,671

1 - Certain comparative amounts have been reclassified to conform with the current year presentation. Refer to 'Change in presentation related to sport rights expenses' section below for further information.

SPORTRADAR GROUP AG

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(Unaudited)

in €'000

March 31,

2025

December 31,

2024

Assets

Current assets

Cash and cash equivalents

357,825

348,357

Trade receivables

91,721

77,106

Contract assets

97,023

93,562

Other assets and prepayments

33,003

46,601

Income tax receivables

8,944

7,624

Total current assets

588,516

573,250

Non-current assets

Property and equipment

69,734

66,240

Intangible assets and goodwill

1,840,982

1,607,057

Other financial assets and other non-current assets

11,212

11,718

Deferred tax assets

32,236

36,376

Total non-current assets

1,954,164

1,721,391

Total assets

2,542,680

2,294,641

Liabilities and equity

Current liabilities

Loans and borrowings

10,479

10,022

Trade payables

300,793

259,742

Other liabilities

81,396

68,271

Contract liabilities

39,681

30,200

Income tax liabilities

3,997

5,599

Total current liabilities

436,346

373,834

Non-current liabilities

Loans and borrowings

40,919

36,697

Trade payables

1,026,002

895,679

Contract liabilities

39,799

37,711

Other non-current liabilities

1,917

1,830

Deferred tax liabilities

18,426

19,043

Total non-current liabilities

1,127,063

990,960

Total liabilities

1,563,409

1,364,794

Equity

Ordinary shares

27,582

27,551

Treasury shares

(16,079)

(18,813)

Additional paid-in capital

706,835

668,254

Retained earnings

235,027

221,942

Other reserves

21,309

26,220

Equity attributable to owners of the Company

974,674

925,154

Non-controlling interest

4,597

4,693

Total equity

979,271

929,847

Total liabilities and equity

2,542,680

2,294,641

SPORTRADAR GROUP AG

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Three-Month Period Ended March 31,

in €'000

2025

20241

OPERATING ACTIVITIES:

Profit (loss) for the period

24,338

(649)

Adjustments to reconcile profit for the period to net cash provided by operating activities:

Income tax expense

5,009

960

Interest income

(2,333)

(2,037)

Interest expense

21,853

18,893

Foreign currency (gain) loss, net

(27,524)

14,466

Depreciation and amortization (excluding amortization of capitalized sport rights licenses)

16,318

11,985

Amortization of capitalized sport rights licenses

71,699

64,871

Equity-settled share-based payments

12,847

1,995

Other

(149)

(2,412)

Cash flow from operating activities before working capital changes, interest and income taxes

122,058

108,072

Increase in trade receivables, contract assets, other assets and prepayments

(17,882)

(43,192)

Decrease in trade and other payables, contract and other liabilities

21,570

18,791

Changes in working capital

3,688

(24,401)

Interest paid

(21,646)

(18,678)

Interest received

2,333

2,037

Income taxes (received) paid, net

(4,187)

149

Net cash from operating activities

102,246

67,179

INVESTING ACTIVITIES:

Acquisition of intangible assets

(67,325)

(63,444)

Acquisition of property and equipment

(972)

(1,768)

Acquisition of subsidiaries, net of cash acquired

2,654

(717)

Proceeds from sale of intangible assets

Change in loans receivable and deposits

(188)

Net cash used in investing activities

(65,810)

(65,886)

FINANCING ACTIVITIES:

Payment of lease liabilities

(1,999)

Purchase of treasury shares

(16,611)

(5,551)

Principal payments on bank debt

(60)

Change in bank overdrafts

Net cash used in financing activities

(18,610)

(7,592)

Net increase in cash

17,826

(6,299)

Cash and cash equivalents at beginning of period

348,357

277,174

Effects of movements in exchange rates

(8,358)

3,753

Cash and cash equivalents at end of period

357,825

274,628

During the third quarter of 2024, the Company changed the presentation of expenses related to sport rights in its Statement of profit or loss and other comprehensive income. Previously, these expenses were split between 'Purchased services and licenses (excluding depreciation and amortization)', representing the portion of related sport rights expenses which were not eligible for capitalization and 'Depreciation and amortization', representing the portion of related sport rights expenses which were capitalized. However, the expenses are now combined and presented under a new line item titled

'Sport rights expenses (including amortization of capitalized licenses)'. This has also resulted in a change in presentation in the cash flow statement, removing the lines 'Amortization and impairment of intangible assets', and 'Depreciation of property equipment' and replacing them with 'Amortization of capitalized sport rights licenses', 'Depreciation and amortization (excluding amortization of capitalized sport rights licenses)', and 'Impairment losses on goodwill and intangible assets'. Certain prior year amounts have been reclassified for consistency with the current year presentation. See below for detail of these amounts.

The change in presentation intends to provide more relevant and reliable information to the users of our financial statements. This reclassification aligns the presentation of sport rights expenses with the nature of the costs and the way they are managed internally.

The following table shows the reclassification of sport rights expenses in the consolidated statement of profit or loss and other comprehensive income (unaudited) as described above:

Three-Month Period Ended March 31, 2024

Previously

Currently

in €'000

reported

Reclassifications

reported

Purchased services and licenses (excluding depreciation and amortization)1

(65,218)

26,072

(39,146)

Depreciation and amortization2

(76,856)

64,871

(11,985)

Sport rights expenses (including amortization of capitalized sport rights licenses)

(90,943)

1 - This line is now "Purchased Services" in the consolidated statement of profit or loss and other comprehensive income (unaudited)

2 - This line is now "Depreciation and amortization (excluding amortization of capitalized sport rights licenses)" in the consolidated statement of profit or loss and other comprehensive income

The following table shows the reclassifications of the related amounts in the consolidated statement of cash flows (unaudited) as described above:

Three-Month Period Ended March 31, 2024

Previously

Currently

in €'000

reported

Reclassifications

reported

Amortization and impairment of intangible assets

72,818

(72,818)

Depreciation of property and equipment

4,038

(4,038)

Amortization of capitalized sport rights licenses

64,871

Depreciation and amortization (excluding amortization of capitalized sport rights licenses)

11,985

Net cash from operating activities

67,179

Additional disclosures related to sport rights expenses

The following table shows the composition of sport rights expenses (unaudited):

Three-Month Period Ended March 31,

in €'000

2025

2024

Non-capitalized sport right expenses

32,331

26,072

Amortization of capitalized sport rights

71,699

64,871

Total sport rights expenses

104,030

90,943

IFRS to Non-IFRS Reconciliations

The following table reconciles Adjusted EBITDA to the most directly comparable IFRS financial performance measure, which is Profit (loss) for the period (unaudited), and Adjusted EBITDA margin to the most directly comparable IFRS financial performance measures, which is Profit (loss) for the period (unaudited) as a percentage of revenue:

Three-Month Period Ended March 31,

in €'000

2025

2024

Revenue

311,231

265,894

Profit (loss) for the period

24,338

(649)

Finance income

(2,333)

(2,012)

Finance costs

21,853

18,749

Depreciation and amortization (excluding amortization of capitalized sport rights licenses)

16,318

11,985

Foreign currency (gain) loss, net

(27,524)

14,466

Share-based compensation

14,541

2,071

Restructuring costs

1,342

1,620

Non-routine litigation costs

2,279

Transaction-related costs

3,132

Income tax expense

5,009

960

Adjusted EBITDA

58,955

47,190

Profit (loss) for the period as a percentage of revenue

7.8%

(0.2)%

Adjusted EBITDA margin

18.9%

17.7%

The following table reconciles Free cash flow to the most directly comparable IFRS measure, which is Net cash from operating activities (unaudited), and Free cash flow conversion to the most directly comparable IFRS measure, which is Net cash from operating activities conversion, which is measured as Net cash from operating activities (unaudited) as a percentage of Profit for the period:

Three-Month Period Ended March 31,

in €'000

2025

2024

Net cash from operating activities

102,246

67,179

Acquisition of intangible assets

(67,325)

(63,444)

Acquisition of property plant and equipment

(972)

(1,768)

Payment of lease liabilities

(1,999)

Free cash flow

31,950

(32)

Net cash from operating activities conversion

420%

Free cash flow conversion

54%

*Not meaningful

The following tables show reconciliations of IFRS expenses included in profit for the period to expenses included in Adjusted EBITDA (unaudited):

Three-Month Period Ended March 31,

in €'000

2025

2024

Purchased services

48,989

39,146

Less: capitalized external services

(5,283)

(3,948)

Adjusted purchased services

43,706

35,198

Personnel expenses

102,356

79,567

Less: share-based compensation

(15,239)

(2,519)

Less: restructuring costs

(1,342)

(1,620)

Less: capitalized personnel compensation

(5,455)

(5,896)

Adjusted personnel expenses

80,320

69,532

Other operating expenses

28,114

21,435

Less: non-routine litigation

(2,279)

Less: share-based compensation

(220)

(234)

Less: transaction-related costs

(3,132)

Add: impairment loss on trade receivables

1,737

1,830

Adjusted other operating expenses

24,220

23,031

Disclaimer

Sportradar Group AG published this content on May 12, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 12, 2025 at 11:04 UTC.