The following is a summary of the Sportradar Group AG (SRAD) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Sportradar reported Q1 revenue growth of 28%, to €266 million.

• Adjusted EBITDA increased by 29% to €47 million.

• The company raised full-year revenue and adjusted EBITDA growth expectations to at least 21%.

• Plans to commence a share repurchase program during the next trading window.

• Benefitted from NBA and ATP contracting solutions, resulting in a 15% higher profit.

• The company has raised its revenues and EBITDA for the full year by €10 million and €2 million respectively.

• Increased spending on sports rights is expected to stabilize in the future, providing an opportunity for operating leverage.

Business Progress:

• New appointments to the leadership team include a new CFO and Chief Technology and AI Officer.

• Formed a long-term partnership with UTR Sports and successfully launched Alpha Odds, generating higher margins.

• The firm is investing in building a data ingestion engine for fan information, liquidity data, and real-time sport data. They will also be launching new AI-driven products.

• Future business will focus on driving shareholder value through a strategy centered on content, data and technology.

• Plans to focus on product ROI for core growth in 2024 with the emphasis on recurring revenue streams.

• Plans to invest in cloud infrastructure to support growth and demand for its AI platform and manage total cost growth across COGS and operating expenses.

• Confident about growth and extension of their relationship with the MLB (Major League Baseball).

More details: Sportradar Group AG IR

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