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sportradar Sportradar Announces Strong Third Quarter 2021 Financial Results SANKT GALLEN , Switzerland , Nov. 17 , 2021 ( GLOBE NEWSWIRE ) -- Sportradar Group AG ( NASDAQ : SRAD ) ( “ Sportradar " or " the Company " ) , a leading global technology platform enabling next generation engagement in sports , and the number one provider of business to - business solutions to the global sports betting industry , today announced financial results for its third quarter ended September 30 , 2021 . Third Quarter 2021 Highlights Revenue in the third quarter of 2021 increased 30 % compared to the third quarter of 2020 to € 136.8 million ( $ 158.7 million ) ¹ , driven by robust growth across all geographies and business segments Continued strong performance in the U.S. market with U.S. revenue in the third quarter of 2021 increasing by 119 % compared to the third quarter of 2020. For the nine months ended September 30 , 2021 the U.S. revenue reached € 48.5 million ( $ 56.3 million ) 1 Adjusted EBITDA * in the third quarter of 2021 was up 21 % compared to the third quarter of 2020 to € 20.9 million ( $ 24.2 million ) ¹ Strong Dollar - Based Net Retention Rate * of 128 % at the end of third quarter of 2021 , underscoring the continued success of our cross - sell and upsell strategy Successfully extended our partnership through 2028 with FanDuel Group , a leader in the U.S. sports betting market , covering pre match betting services , live betting services , and betting entertainment tools Completed successful listing on Nasdaq , raising € 546 million of primary net proceeds to fund continued growth in the business , providing the Company with € 878 million to continue to invest in global growth For the full - year 2021 , we expect revenue to be in the range of € 553 to € 555 ( $ 641 to $ 644 ) ¹ million and Adjusted EBITDA * in the range of € 99.5 to 101.5 ( $ 115.4 to $ 117.7 ) ¹ million . Revenue Adjusted EBITDA * Adjusted EBITDA margin * Dollar - Based Net Retention Rate * Adjusted Free Cash Flow * Cash Flow Conversion * Q3 2021 € 136.8 € 20.9 15 % 128 % € 32.9 158 % Q3 2020 € 105.3 € 17.3 16 % 114 % € 13.5 78 % Change % + 30 % + 21 % -7 % + 12 % + 144 % + 102 % 1 For the convenience of the reader , we have translated Euros amounts in the tables below at the noon buying rate of the Federal Reserve Bank of New York on September 30 , 2021 , which was € 1.00 to $ 1.16 . Non - IFRS financial measure ; see " Non - IFRS Financial Measures and Operating Metrics " and accompanying tables for further explanations and reconciliations of non - IFRS measures to IFRS measures . Carsten Koerl , Chief Executive Officer of Sportradar said : " Our strong results demonstrate the value we provide to our partners and customers around the world . We are the largest provider of sports intelligence in the world and the only profitable global sports technology platform of scale . Critically , we believe we are also the most innovative in developing technology solutions that enable our league customers , media and betting partners to use our ever - increasing data to attract and engage sports fans . " Koerl continued , " We plan to continue to make significant investments , particularly in the U.S. The U.S. represents the primary area of focus to execute on our strategic growth plans , as the U.S. region is currently only 7 percent of our group revenues , representing a significant potential business opportunity as more states legalize betting and the market expands from $ 1 billion in 2019 to an estimated $ 23 billion in the next 10 years . Our recent Nasdaq listing in the U.S. was a tremendous milestone for our team , and we look forward to building on our success in a multitude of areas in the years ahead . " Financial Highlights for the Three Months Ended September 30 , 2021 Revenue in the third quarter of 2021 increased by 30 % compared to the third quarter of 2020 to € 136.8 million Adjusted EBITDA * in the third quarter of 2021 increased by 21 % compared to the third quarter of 2020 to € 20.9 million Adjusted EBITDA margin * remains strong at 15 % in the third quarter of 2021 , a slight decrease compared to the third quarter 2020 due to additional IPO costs of approximately € 5.7 million which were incurred in the third quarter of 2021. Eliminating the impact of