TLDR
- Sportradar lowered its full-year 2026 revenue and adjusted EBITDA guidance.
- Q2 revenue rose 19% year-on-year to €377.8 million.
- The company posted a net loss of €3.5 million, reversing a €49.1 million profit from a year earlier.
- A foreign-exchange loss and rising costs weighed on quarterly results.
- Betting Technology & Solutions and Betting & Gaming Content both posted double-digit growth.
Sportradar has lowered its full-year 2026 guidance for revenue and adjusted EBITDA. The change follows a second quarter with mixed results.
The company now expects adjusted EBITDA between €360 million and €368 million. That is down from a prior range of €390 million to €400 million.
Revenue guidance was also cut. Sportradar now expects €1.52 billion to €1.53 billion, down from €1.56 billion to €1.58 billion.
Growth rate targets were reduced too. Revenue growth guidance fell to 19-21% from 23-25%, and EBITDA growth guidance dropped to 24-27% from 34-37%.
Sportradar did not give a specific reason for the cut. It pointed to weaker US growth, currency pressure, and rising sports rights and operating costs.
Second Quarter Revenue Grows
Quarterly revenue reached €377.8 million. Adjusted EBITDA rose 19.5% to €76.3 million, with margin holding steady at 20.2%.
Betting Technology & Solutions revenue climbed 21.2% to €313.6 million. Growth came from sports data and betting streaming rights, including those from the IMG ARENA deal.
Betting & Gaming Content grew 27%. The same rights deal and new customer gains helped drive that increase.
Sports Content, Technology & Services revenue rose 8.8% to €64.2 million, helped by Marketing & Media Services. Sports Performance revenue fell 13%, mainly due to currency movements.
Deutsche Bank noted that both revenue and adjusted EBITDA came in below its estimates and market consensus. The largest gap was in the Sports Content, Technology & Services segment.
Currency Losses Drive Net Loss
Sportradar reported a net loss of €3.5 million for the quarter. That compares with a €49.1 million profit in the same period last year.
The company said the swing was mainly caused by a €9 million foreign-exchange loss, versus a €54 million gain a year earlier. The loss was tied to unrealized currency shifts on dollar-denominated sports rights.
The quarter also included severance costs from cost-efficiency efforts. Sports-rights expenses rose 29.7% to €137.8 million, largely due to rights added through the IMG ARENA acquisition.
Adjusted other operating expenses rose 41.8% to €34.6 million. Sportradar attributed this to costs in Brazil and legal expenses tied to market expansion.
Personnel expenses fell 3.6% to €76.8 million, offsetting some of the increases. Revenue outside the US grew 20%, while US revenue rose 16% despite slower market growth there.
Chief executive Carsten Koerl said double-digit growth reflects demand for the company’s premium content, data, and technology solutions. He pointed to monetization of the IMG ARENA rights portfolio as a factor.
The lowered guidance suggests Sportradar expects a tougher second half of 2026 than it had previously forecast. Currency losses, rising costs, and caution around US growth remain the key factors shaping that outlook.
