$SRAD, a picks and shovels gambling stock, posted their Q1 earnings yesterday.
- Revenue of $186.4M (+16.5% Y/Y) beats by $19.71M.
- Annual Financial Outlook: Revenue is expected to be in the range of €665.0 million to €700.0 million ($738.2 million to $777.0 million), representing growth of 18% to 25% over fiscal 2021.
- Adjusted EBITDA is expected to be in the range of €123.0 million to €133.0 million ($136.5 million to $147.6 million), representing growth of 21% to 30% over fiscal 2021.
- Adjusted EBITDA margin is expected to be in the range of 18.5% to 19.0%, an improvement over the prior year.
Revenue grew 124% in the U.S., a new market where Sportradar supplies bookmakers with game statistics for professional baseball, basketball and hockey. Chief executive Carsten Koerl told earnings call listeners Wednesday morning that Sportradar is negotiating with college sports conferences about data deals, with the blessing of the National Collegiate Athletic Association.
The company also just announced a new product —> this one
Current ticker price is $9.68, a long way off target price, on Thursday morning
Leave a Reply