Sportradar Announces $200M Share Buyback with Q4 and FY 2023 Results

March 20, 2024

DENVER, Colo., Mar 20, 2024 (247marketnews.com)- Sportradar Group AG (NASDAQ:SRAD) reported, this morning, its fourth quarter and full year 2023 financial results, delivering record results, which included 20% revenue growth and 33% adjusted EBITDA for fiscal 2023

Additionally, it authorized a $200 million share buyback program, as well as targeting a strong 2024 outlook of at least 20% growth in revenue and adjusted EBITDA

Carsten Koerl, Chief Executive Officer of Sportradar, said: “2023 was another dynamic and successful year for the Company delivering our 3rd consecutive year of more than 20% revenue growth, improved profitability, and margin expansion. We are pleased with our growth momentum, fueled by our best-in-class content portfolio, innovative product roadmap and technology capabilities.  For 2024, we plan to continue to scale our business globally, targeting at least 20% growth in revenue and adjusted EBITDA. Given our market leadership and confidence in the long-term profitability and cashflow outlook for the Company, we have authorized a $200 million share buyback program. We remain laser focused on disciplined execution of our growth strategy and delivering tremendous value for our clients and our shareholders.”

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