Sportradar has reported a 23% revenue increase for Q2, exceeding the provider’s expectations.
The second quarter saw Sportradar generate €177.2m ($180m), an over €30m rise when compared to the prior-year period.
However, rising costs offset the provider’s profitability. For Q2, Sportradar’s adjusted EBITDA contracted, shrinking from €31.6m to €27.6m – a 13% fall. Sportradar also recorded a diminished adjusted EBITDA margin, which shrank from 22% to 16%.
The provider attributed this downturn to costs associated with “additional organic and inorganic headcount growth,” alongside new and renewed sport rights contracts.