Adjusted EBITDA increased 21% to €102.2 million, giving a margin of 28.2%, and profit for the quarter rose to €27 million from €22.5 million. Betting and gaming content revenue climbed 37% to €242 million, while Managed Betting Services slipped 3% to €54.7 million after customer-friendly European football results in late August and early September cut trading margins. In the US, revenue rose 47% and now makes up 27% of the group total.
CEO Carsten Koerl said this was the first quarter in which prediction markets made a positive contribution, with Polymarket, Kalshi, and Novig signed as exchange partners, Robinhood as its first broker, and around 10 market makers on board. CFO Craig Felenstein declined to put a figure on that contribution but said he expects significant growth from the vertical next year.
Carsten Koerl, CEO of Sportradar, shared:
“As we capitalize on these new opportunities, further leveraging our existing portfolio, we remain focused on innovation and execution to drive additional value for our partners and clients and deliver durable growth and expanding profitability for our shareholders.”
Sportradar kept its full-year outlook of €1.518 billion to €1.533 billion in revenue and €360 million to €368 million in adjusted EBITDA, which excludes the pending $170 million sale of Atrium Sports. Brazil, where betting has been banned since October, remains a risk, with Felenstein putting annual revenue there at just over €60 million.
