Sumary of The Biggest Sports Data Firm Is Now Public. What You Need to Know About Sportradar.:
- *** ONE-TIME USE *** Sportradar IPO Courtesy of Nasdaq You can now bet in two dozen states, and in more than half of them, you can bet online or on your phone.
- Another way to bet on the growth in sports betting appeared Tuesday with the Nasdaq debut of data vendor Sportradar Group (SRAD).
- The Swiss company’s revenues were three-times those of Genius’s in the first half of 2021, and unlike Genius, Sportradar has consistently reported profits.
- After opening at $27, Sportradar stock slipped 7% to close at $25. Disseminating the results of 83 different kinds of sports, on behalf of over 150 leagues in 120 countries, Sportradar grew its revenue at more than 25% a year annually in the past five years.
- And its marquee investors include the team-owners Ted Leonsis.
- “We are a software play,” Sportradar chief executive Carsten Koerl told Barron’s, “And we are selling, now, the biggest portfolio of data around the world.
- ” At its initial offering, Sportradar was valued at $8 billion, or 12-times the annualized level of the $321 million in revenue that it had in this year’s first half.
- On those revenues, Sportradar earned about $65 million before interest, taxes, depreciation and amortization (adjusted for one-time items), and net profits of $21 million.