I’m very pleased with our performance in 2024, which marked a strong year of execution. The fourth quarter capped another consecutive year of above market growth and ahead of our already raised expectations. Company revenue for the full year reached a record €1.1 billion, 26% ahead of 2023, with all our product categories performing well, including betting and gaming content, managed trading services and our ad:s business. We also continued to see strong growth in the US as we capitalized on the rapid growth of the domestic market and demand for our innovative products and depth of content. Importantly, we reached an inflection point with strong top-line growth translating into margin expansion and significant cash flow generation.

Underpinning our success are our competitive advantages, including the depth and breadth of our sports coverage, best-in-class product portfolio, unmatched global distribution network, and cutting-edge technology. These strengths enable us to occupy a distinctive position right at the heart of the sports ecosystem.

Our announcement that we entered into an agreement to acquire IMG ARENA and its global portfolio of sports betting rights reinforces this position and, following closing, will further expand our leading global content portfolio and footprint in some of the most bet upon sports including tennis, soccer and basketball. Maximizing the value of high demand content for our clients and league partners is what we do best, and we are uniquely positioned to integrate and monetize these rights seamlessly based on our highly scalable technology platform and broad client network. The acquisition will also benefit our financial profile, accelerating our revenue, adjusted EBITDA and Free Cash Flow growth and be accretive to adjusted EBITDA margins.

The IMG ARENA acquisition is currently expected to close in the fourth quarter of 2025, subject to receipt of regulatory approvals and satisfaction of closing conditions.

Looking ahead, we are poised to build additional shareholder value with sustained long-term revenue growth, margin expansion and free cash flow generation. For the full year 2025, excluding any impact from the acquisition, we anticipate total revenue to grow 15% year over year, outperforming global market expansion. At the same time, we expect at least 200 basis points of adjusted EBITDA margin expansion as well as year-on-year free cash flow conversion growth in 2025 as we continue to focus on moving more of each dollar to the bottom line.

We are in a dynamic market that is continuing to expand, and with Sportradar’s proven track record of delivering for clients and partners through product and content innovation, along with a cost structure that has high visibility moving forward, we are at an important moment in our business. I look forward to discussing the opportunities ahead at our Investor Day on April 1.

Additional earnings materials, including the press release, presentation and earnings call registration link are available on our Investor Relations website, in addition to the announcement of our agreement to acquire IMG ARENA.  

Register here to listen to the Sportradar 2025 Investor Day.

Craig Felenstein

Chief Financial Officer