Sportradar (SRAD) revenue grows 21.8% as margins and cash flow improve, despite a wider-than-expected quarterly loss.
Stock Earnings Results
August 3, 2026
Table of Contents
August 3, 2026
Sportradar Group AG (NASDAQ: SRAD) reported second-quarter 2026 results with strong revenue growth, higher adjusted EBITDA, expanded adjusted margin, improved free cash flow, and continued share repurchases, but earnings came in below expectations and revenue slightly missed the dashboard estimate.
Sportradar is a global sports technology company that provides sports data, betting and gaming content, media services, fan engagement tools, integrity services, and technology solutions for sportsbook operators, media companies, sports leagues, and prediction market partners.
The company reported a loss per share of $0.01, below estimates for earnings of $0.06, representing a 116.7% earnings miss. Revenue came in at $439.23 million, below estimates of $440.93 million, though revenue growth was 21.8%.
Total revenue increased 19% year-over-year to €378 million.
Betting Technology & Solutions revenue increased 21% to €314 million.
Betting & Gaming Content revenue increased 27%, helped by contributions from the IMG ARENA acquisition and new customer uptake.
Sports Content, Technology & Services revenue increased 9% to €64 million.
Marketing & Media Services revenue increased 16%, helped by new and existing media and technology customers and higher affiliate marketing spending.
Rest of World revenue increased 20%, while United States revenue increased 16%.
Sportradar reported a loss for the period of €4 million.
That compared with a profit of €49 million in the prior-year quarter.
The company said strong operating results were more than offset by a €9 million foreign currency loss.
That compared with a €54 million foreign currency gain in the prior-year period.
The currency impact was mainly tied to unrealized fluctuations associated with U.S. dollar-denominated sports rights.
The quarter also included severance costs tied to cost efficiency initiatives.
Adjusted EBITDA increased 19% year-over-year to €76 million.
Adjusted EBITDA margin expanded to 20.2%.
The increase was driven by revenue growth and lower adjusted personnel costs.
Those benefits were partly offset by costs tied to IMG ARENA, especially sports rights.
Net cash from operating activities increased 20% to €117 million.
Free cash flow increased 14% to €59 million.
Sportradar repurchased $140 million of shares during the quarter.
The company’s authorized share repurchase plan now totals $1 billion.
As of July 31, Sportradar had repurchased 26 million shares for $422 million under the plan since inception.
That included $311 million of repurchases in 2026.
The company also upsized its revolving credit facility to €250 million, lowered fees, and extended maturity to 2031.
Sportradar entered into strategic partnerships with prediction market exchanges during the quarter.
The company announced a multi-year global agreement with Kalshi.
Under the agreement, Sportradar will provide premium data, odds, fan engagement, customer acquisition, and integrity services for major sports properties.
Sportradar also entered into a multi-year agreement with Polymarket, in coordination with Tennis Data Innovations.
That agreement covers exclusive ATP Tour streaming rights, official data, live odds, fan engagement, customer acquisition, and integrity solutions.
Sportradar signed a multi-year extension with The All England Club.
The agreement covers exclusive global distribution of official data and audiovisual betting rights for The Wimbledon Championships.
The rights were originally secured through the IMG ARENA acquisition.
The renewal strengthens Sportradar’s premium tennis portfolio and supports in-play betting and fan engagement products.
Sportradar updated its full-year 2026 outlook.
The company expects revenue growth of 19% to 21% on a constant currency basis.
Based on current foreign exchange rates, revenue is expected to range from €1.518 billion to €1.533 billion.
Adjusted EBITDA is expected to grow 24% to 27% on a constant currency basis.
Based on current foreign exchange rates, adjusted EBITDA is expected to range from €360 million to €368 million.
Adjusted EBITDA margin is expected to expand by about 70 to 100 basis points on a reported basis.
Free cash flow conversion is expected to exceed the 2025 level of 56%, excluding non-routine litigation costs.
Sportradar delivered strong operating growth, but the quarter was not clean.
Revenue grew 19%, adjusted EBITDA increased 19%, adjusted margin expanded, and free cash flow improved. The company also continued buying back shares and expanded its addressable market through Kalshi and Polymarket partnerships.
The issue is that foreign currency losses pushed the company to a net loss, while revenue came in slightly below the dashboard estimate.
The key question is whether Sportradar can keep growing through premium sports rights, betting technology, prediction markets, and media partnerships while managing sports rights costs, currency volatility, and slower U.S. market growth.
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