Sportradar Group AG (SRAD): Financial results for Q2 2026
Sportradar Group AG (SRAD) furnished an SEC Form 6-K — earnings release. Exhibit 99.1 SPORTRADAR REPORTS SECOND QUARTER 2026 FINANCIAL RESULTS Second Quarter 2026 Highlights · Revenue increased 19% to €378 million · Loss for the period of €4 million, 0.9% as a percentage of revenue with increased operating results offset by unrealized foreign currency
How this was made
The 30-second read
Why it matters
The earnings release provides the first public data on Q2 2026 performance, highlighting strong top‑line growth but a net loss driven by foreign exchange effects.
Market read
Earnings could trigger a price move for SRAD; sector peers may be impacted by the demonstrated growth in betting technology.
What to watch
Share repurchase of $140M and expanded credit facility improve balance sheet flexibility.
Sportradar Reports Second Quarter 2026 Financial Results
Revenue rose 19% and Adjusted EBITDA increased 19%, while the Company reported a €4 million loss for the period after a foreign currency loss of €9 million versus a gain of €54 million in the prior-year period.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total Revenueother | €377,815 | – | 19% |
| Betting Technology & Solutions revenueother | €313,605 | – | 21% |
| Sports Content, Technology & Services revenueother | €64,210 | – | 9% |
| (Loss) profit for the periodother | (€3,517) | – | – |
| (Loss) profit for the period as a percentage of revenueother | (0.9)% | – | – |
| Adjusted EBITDAnon-GAAP | €76,269 | – | 19% |
| Adjusted EBITDA marginnon-GAAP | 20.2% | – | – |
| Foreign currency (loss) gain, netother | (€9,129) | – | – |
| Personnel expensesother | (€109,034) | – | – |
| Sport rights expenses (including amortization of capitalized sport rights licenses)other | (€137,752) | – | – |
| Purchased servicesother | (€54,286) | – | – |
| Other operating expensesother | (€36,746) | – | – |
| Depreciation and amortization (excluding amortization of capitalized sport rights licenses)other | (€21,336) | – | – |
| Basic (loss) profit per Class A share attributable to owners of the Companyother | (0.01) | – | – |
| Diluted (loss) profit per Class A share attributable to owners of the Companyother | (0.01) | – | – |
| Basic (loss) profit per Class B share attributable to owners of the Companyother | (0.00) | – | – |
| Diluted (loss) profit per Class B share attributable to owners of the Companyother | (0.00) | – | – |
| Net cash from operating activitiesother | €117 million | – | 20% |
| Free cash flownon-GAAP | €59 million | – | 14% |
| Six-month Total Revenueother | €724,333 | – | 15% |
| Six-month (loss) profit for the periodother | (€9,804) | – | – |
| Six-month Adjusted EBITDAnon-GAAP | €142,275 | – | – |
| Six-month Adjusted EBITDA marginnon-GAAP | 19.6% | – | – |
| Six-month net cash from operating activitiesother | €225,898 | – | – |
| Six-month Free cash flownon-GAAP | €103,294 | – | – |
| Six-month Free cash flow conversionnon-GAAP | 73% | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Betting & Gaming ContentContributions related to the acquisition of IMG ARENA and new customer uptake of the Company's products and services. | €254,454 | – | 27% |
| Managed Betting ServicesHigher Managed Trading Services revenues due to higher turnover and trading margins were offset by lower platform revenues. | €59,151 | – | —% |
| Marketing & Media ServicesContributions from new and existing media and technology customers, as well as increased affiliate marketing spending. | €47,413 | – | 16% |
| Sports PerformanceDecreased revenue principally due to foreign currency movements. | €10,600 | – | (13)% |
| Integrity ServicesNot specified. | €6,197 | – | 7% |
| Rest of WorldStrong revenue growth globally. | €276,027 | – | 20% |
| United StatesCustomer uptake of premium content and solutions was partially offset by slower market growth and foreign currency fluctuations. | €101,788 | – | 16% |
2026 Full Year Financial Outlook outlook
- RevenueRevenue growth on a constant currency basis of 19% to 21%. When factoring in current foreign currency rates, revenues are expected to grow to a range of €1,518 to €1,533 million
- NoteAdjusted EBITDA growth on a constant currency basis of 24% to 27%. When factoring in current foreign currency rates, Adjusted EBITDA is expected to grow to a range of €360 to €368 million
- NoteAdjusted EBITDA margin expansion of approximately 70 to 100 basis points on a reported basis
- NoteFree cash flow conversion rate is expected to exceed the 2025 level of 56%, excluding the impact of non-routine litigation costs
Capital returns
- Repurchased $140 million of shares during the quarter under the share repurchase plan.
- Purchase of treasury shares was (€217,329) for the six-month period ended June 30, 2026.
- As of July 31, 2026, the Company has repurchased 26 million shares for $422 million under the plan since inception, including $311 million in 2026.
- The total authorized share repurchase plan was $1 billion.
- In April 2026, the Company announced it entered into an enhanced open market share repurchase program, to purchase up to $250 million of shares.
What drove it
- Total revenue growth was driven by 21% growth in Betting Technology & Solutions and 9% growth in Sports Content, Technology & Services.
- Betting & Gaming Content growth reflected IMG ARENA acquisition contributions and new customer uptake.
- The Company announced strategic partnerships with Kalshi and Polymarket, and a multi-year extension with The All England Club.
- Adjusted EBITDA growth reflected revenue growth and lower adjusted personnel costs.
- Playradar expanded with 24/7 Live Experience and historical sports games, alongside regulatory licenses and certifications across South America, Europe, and Canada.
Concerns
- Foreign currency movements negatively impacted earnings, with a €9 million foreign currency loss compared with a €54 million gain in the prior-year period.
- Revenue growth was partially offset by moderating U.S. market growth and unfavorable foreign currency movements.
- Second-quarter results included severance costs related to cost efficiency initiatives and lower income taxes.
- IMG ARENA-related costs, most notably sport rights, partially offset Adjusted EBITDA growth.
- Sports Performance revenue declined 13%, principally due to foreign currency movements.
What to watch
- Execution against revenue growth on a constant currency basis of 19% to 21% and reported revenue of €1,518 to €1,533 million.
- Execution against Adjusted EBITDA of €360 to €368 million and approximately 70 to 100 basis points of reported Adjusted EBITDA margin expansion.
- The foreign currency effect on reported earnings and revenue.
- Monetization of the IMG ARENA rights portfolio and sport rights costs.
- Revenue contribution from prediction-market partnerships with Kalshi and Polymarket.
- Free cash flow conversion relative to the 2025 level of 56%, excluding the impact of non-routine litigation costs.
Balance sheet and cash flow
- Cash and cash equivalents were €251 million as of June 30, 2026, compared with €365 million as of December 31, 2025.
- Including the undrawn credit facility, total liquidity was €501 million as of June 30, 2026, compared with €585 million as of December 31, 2025.
- The Company amended its revolving credit facility, increasing total commitments from €220 million to €250 million and extending the maturity date to May 20, 2031.
- The Company reported no debt outstanding.
- Net cash used in investing activities was (€121,826) for the six-month period ended June 30, 2026, primarily from payments related to sport rights licenses.
- Net cash used in financing activities was (€222,465) for the six-month period ended June 30, 2026.
- Net decrease in cash was (€118,393) for the six-month period ended June 30, 2026.
- Acquisition of intangible assets was (€113,313) for the six-month period ended June 30, 2026.
- Acquisition of property and equipment was (€5,416) for the six-month period ended June 30, 2026.
- Payment of lease liabilities was (€3,875) for the six-month period ended June 30, 2026.
Analysis
Sportradar produced broad-based top-line growth in the second quarter, with total revenue of €377,815, up 19% from €317,790. Betting Technology & Solutions increased 21% to €313,605, led by 27% growth in Betting & Gaming Content to €254,454. Management attributed this performance to IMG ARENA acquisition contributions and new customer uptake. Sports Content, Technology & Services grew 9% to €64,210, with Marketing & Media Services up 16% to €47,413.
The geographic mix remained globally weighted. Rest of World revenue grew 20% to €276,027, while United States revenue rose 16% to €101,788. United States revenue represented 27% of total Company revenue, compared with 28% in the prior-year quarter. The release identifies moderating U.S. market growth and unfavorable foreign currency movements as offsets to revenue growth.
Underlying profitability improved, but reported IFRS earnings deteriorated sharply. Adjusted EBITDA rose 19% to €76,269 and Adjusted EBITDA margin expanded to 20.2% from 20.1%. Revenue growth and lower adjusted personnel costs drove the improvement, partly offset by IMG ARENA-related costs, most notably sport rights. In contrast, the Company recorded a loss for the period of (€3,517), compared with profit of €49,117, as a (€9,129) foreign currency loss replaced a €53,848 foreign currency gain in the prior-year quarter. The release also cites severance costs and lower income taxes.
Cash generation remained positive. The Company reported second-quarter net cash from operating activities of €117 million and free cash flow of €59 million. For the six-month period, net cash from operating activities was €225,898, free cash flow was €103,294, and free cash flow conversion was 73%. Cash and cash equivalents declined to €251 million from €365 million at December 31, 2025, as six-month operating cash flow was offset by (€121,826) of investing cash flow and (€222,465) of financing cash flow, including (€217,329) of treasury-share purchases.
Capital allocation remained focused on repurchases, with $140 million repurchased during the quarter and $311 million repurchased in 2026 as of July 31, 2026. The Company also expanded its revolving credit facility to €250 million and extended its maturity to May 20, 2031. Full-year guidance calls for constant-currency revenue growth of 19% to 21%, reported revenue of €1,518 to €1,533 million, and Adjusted EBITDA of €360 to €368 million. The principal reported-results sensitivity identified in the release remains foreign exchange, while execution on IMG ARENA monetization, prediction-market partnerships, and the guided free-cash-flow conversion will be key operating markers.
Management, verbatim
Sportradar’s second-quarter financial growth, along with the progress we delivered across a variety of key strategic initiatives, reflects our mission-critical role at the center of the global sports ecosystem. Strong demand for our premium content, data and technology solutions, including increased monetization of our IMG ARENA rights portfolio, drove double-digit growth while deepening our relationships across our unparalleled global distribution network. We also further expanded our addressable market, entering into strategic partnerships with key prediction market participants that will enable us to capitalize on this fast-growing ecosystem. As we benefit from new avenues of growth, we remain focused on innovating across our core product suite to drive additional value for our partners, and clients as well as our shareholders.
Carsten Koerl, Chief Executive Officer
Not in the filing
stated, not guessed- Previous-release outlook was not provided, so comparison with prior guidance is unavailable.
- Gross profit and gross margin were not reported.
- Operating income or loss and operating margin were not reported.
- A consolidated EPS figure was not reported. The filing reports separate Class A and Class B basic and diluted (loss) profit per share.
- Quarterly cash and cash equivalents comparison with the prior-year quarter was not reported.
- Quarterly free cash flow reconciliation and prior-year quarterly free cash flow value were not reported.
- Customer Net Retention Rate value was not reported.
- Dividend information was not reported.
- Customer concentration, bookings, backlog, and remaining performance obligation metrics were not reported.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Sportradar Group AG is a Nasdaq‑listed sports‑technology company providing data, odds and integrity services to betting operators worldwide.
Ticker impact
Q2 2026 earnings release shows revenue up 19% to €378M, adjusted EBITDA up 19% to €76M, but a €4M loss due to foreign currency impact.
Potential short-term volatility; upside if market focuses on revenue growth, downside if loss and currency risk dominate.
First filing of Q2 results provides fresh data; magnitude is material for a mid-cap listed on Nasdaq, likely to move the stock.
Market effects
Positive signal for sports data and betting technology sector as revenue growth accelerates.
European tech investors may view the results favorably despite currency headwinds.
Limited to niche sports‑tech niche; no broad market impact.
Counterpoint
Currency losses could signal deeper exposure risk; investors may short on the downside.
Key entities
- companySportradar Group AG
Nasdaq‑listed sports data and technology provider.
- partnerKalshi
Prediction‑market exchange entering a data partnership with Sportradar.
