Sportradar Group AG (SRAD): History, Ownership, Mission, How It Works & Makes Money

How does a company become the invisible engine of the global sports betting market, turning raw data into a projected €1.29 billion in revenue for 2025?

Sportradar Group AG (SRAD) is that engine, a leading global sports technology company that just raised its full-year guidance, anticipating at least 17% revenue growth and an Adjusted EBITDA of at least €290 million, a 30% jump, driven by its core Betting Technology & Solutions segment.

This massive scale, plus the recent, strategic acquisition of IMG ARENA, cements its position, but what is the actual mechanism-the history, the ownership, and the technology-that allows them to handle over 23% of their total revenue from the rapidly expanding U.S. market alone?

If you're looking for the defintive breakdown of a data powerhouse, you need to understand the nuts and bolts of how Sportradar makes its money and keeps the integrity of global sports intact.

Sportradar Group AG (SRAD) History

If you're looking at Sportradar Group AG (SRAD), you need to understand that this company didn't start as a massive data conglomerate; it began as a small, focused software project. The company's evolution from a niche betting odds tool into a global sports technology leader, with a raised 2025 revenue outlook of at least €1,290 million, is a masterclass in strategic pivot and execution. We are defintely seeing a business that knows how to monetize the global appetite for real-time sports data.

Given Company's Founding Timeline

Year established

The company was established in 2001 as Market Monitor AS, initially focusing on software to extract betting odds from online bookmakers.

Original location

The original company was founded in Trondheim, Norway. Its current global headquarters, however, are located in St. Gallen, Switzerland.

Founding team members

The initial concept was developed by two Norwegians, Petter Fornæss and Tore Steinkjer. Carsten Koerl, a key figure in the sports betting industry, later became a major investor and is considered a co-founder and the current Group CEO.

Initial capital/funding

While specific initial seed capital is not widely publicized, Carsten Koerl bought a controlling stake of 51% of the company's stock early on. The company grew organically for a time, but has since raised a total funding of approximately $98 million across three rounds before its public offering.

Given Company's Evolution Milestones

Given Company's Transformative Moments

The company's trajectory has been defined by a few high-stakes, transformative decisions that moved it from a data aggregator to a technology partner for global sports. The most recent strategic moves in 2025 underscore a focus on content control and margin expansion, which is what you want to see from a market leader.

• The early decision around 2005 to focus on ultra-low latency live data, rather than just pre-game odds, was the first major pivot. This created the core product-fast, reliable data-that powers the multi-billion-dollar in-play betting market.
• The 2021 IPO was a massive capital injection, but more importantly, it provided the public currency needed for large-scale acquisitions and global expansion, particularly in the rapidly growing US market.
• The November 2025 completion of the IMG ARENA acquisition is a game-changer. It immediately strengthens their content portfolio, adding approximately 38,000 official data events annually. This deal is expected to be accretive, meaning it will boost the Adjusted EBITDA margins and free cash flow conversion.
• Looking at the Q3 2025 results, the Betting Technology & Solutions segment, the company's largest, grew revenue by 11%, while the Sports Content, Technology & Services segment grew by a massive 31% year-over-year, showing where future growth is accelerating.

The latest full-year 2025 guidance, raised in November, projects Adjusted EBITDA of at least €290 million, a 30% growth over the prior year, confirming the success of these strategic moves. For more on how these moves affect the shareholder base, you should be Exploring Sportradar Group AG (SRAD) Investor Profile: Who's Buying and Why?

Sportradar Group AG (SRAD) Ownership Structure

Sportradar Group AG operates as a publicly traded company on the Nasdaq Stock Market under the ticker SRAD, meaning its ownership is distributed among a mix of insiders, institutional funds, and the general public.

This structure is characterized by a high degree of founder control, plus a significant stake held by a few large institutional investors, which together command a controlling interest in the company's strategic direction.

Sportradar Group AG's Current Status

Sportradar Group AG is a public company, having completed its initial public offering (IPO) in September 2021. As of November 2025, it maintains its listing on the Nasdaq Global Select Market.

The company's market capitalization stands at approximately $6.15 billion, reflecting its position as a key player in the sports data and technology sector. The stock price was trading around $22.97 per share as of November 7, 2025, an increase of 38.88% from the prior year.

This public status requires rigorous financial transparency and regulatory compliance, but the concentrated ownership ensures that the founding vision still holds significant weight in decision-making.

Sportradar Group AG's Ownership Breakdown

The company's ownership is highly concentrated, with the founder and top institutional investors holding a majority of the shares. This concentration is a critical factor for investors to understand, as it limits the influence of the broader public float.

Here's the quick math: the founder and the two largest institutional shareholders alone account for nearly 60% of the total ownership, which is defintely a strong indicator of control.

For a deeper dive into the company's financial standing, you should check out Breaking Down Sportradar Group AG (SRAD) Financial Health: Key Insights for Investors.

Sportradar Group AG's Leadership

The executive team is a mix of long-tenured insiders and recent, high-profile hires, reflecting a strategy to blend the company's core vision with new expertise in technology and global expansion. The average tenure of the management team is relatively short at 1.9 years, which suggests a recent push for new operational talent.

• Carsten Koerl: Founder and Chief Executive Officer (CEO). He has led the company since its founding in 2001, maintaining a strong vision and significant personal stake.
• Jeffery Yabuki: Independent Chairman of the Board.
• Craig Felenstein: Chief Financial Officer (CFO).
• Behshad Behzadi: Chief Product, Technology and AI Officer. He brings extensive experience from Google's AI initiatives, a clear sign of Sportradar's focus on machine learning and generative AI for its products.
• Eduard Blonk: Chief Commercial Officer (CCO), overseeing global sales, sports rights, and partnerships.
• Michael C. Miller: Chief Legal and Administrative Officer and Corporate Secretary.
• Severine Riviere-Gerstner: Chief People Officer, responsible for all aspects of human capital strategy.

This leadership structure, with the founder still at the helm and a board chaired by an independent director, is designed to drive aggressive growth while maintaining corporate governance standards.

Sportradar Group AG (SRAD) Mission and Values

Sportradar Group AG's core purpose is to be the sports world's driving force, leveraging technology to create immersive fan experiences and safeguard the integrity of global sports. This mission is backed by a clear 2027 vision to become nothing less than the engine of the sports world, which is a bold but achievable goal given their market position.

Sportradar Group AG's Core Purpose

You're not just investing in a data company; you're buying into a foundational layer of the global sports ecosystem. Sportradar Group AG is a leading global sports technology company, positioned at the critical intersection of the sports, media, and betting industries. Their mission is about delivering stakeholder value-to sports leagues, media partners, and betting operators-through innovative sports data and betting technology solutions. This isn't abstract; it's a mission-critical role, especially when you consider they serve over 2,100 clients and partners worldwide.

Official mission statement

The company's mission is to be the sports world's driving force that delivers stakeholder value through innovative sports data and betting technology solutions. This dedication to innovation is why they are a trusted partner to organizations like the NBA, NHL, and FIFA. Honesty, you can see this commitment in their Integrity Services division, which is a key part of their business model, promoting a trustworthy environment in an industry where that's defintely paramount.

• Be the driving force for the global sports world.
• Deliver stakeholder value via innovative sports data and betting technology.
• Create immersive experiences for sports fans and bettors.
• Safeguard sports through Integrity Services and advocacy.

Vision statement

Sportradar Group AG has a clear, near-term target for its strategic growth, articulated at its 2025 Investor Day. The vision is set for 2027, and it maps directly to their aggressive financial trajectory. They are aiming to become the indispensable hub for all sports data and technology. This focus is what underpins their raised 2025 full-year guidance, expecting revenue of at least €1.290 billion. If you want to dive deeper into how they are achieving this, check out Breaking Down Sportradar Group AG (SRAD) Financial Health: Key Insights for Investors.

• Become the engine of the sports world by 2027.
• Achieve unmatched scale in global sports and betting.
• Lead sports industry evolution with proprietary technology.

The company's core values are the cultural pillars that support this ambitious vision, guiding their execution on a daily basis:

• We Play to Win: Embracing a competitive spirit, setting high goals, and taking ownership of results.
• We Act with Integrity: Never compromising on honesty, transparency, and fairness in all dealings.
• We Embrace Innovation: Being proactive, agile, and challenging the status quo to stay ahead of the game.
• We are One Team: Working collaboratively and prioritizing shared goals over individual ambitions.
• We are Client & Partner Focused: Placing clients and partners at the forefront of every action.

Sportradar Group AG slogan/tagline

While Sportradar Group AG doesn't use a single, snappy consumer-facing slogan, their operational focus translates into a powerful, descriptive tagline that speaks to their value proposition. They are all about speed and scale in a data-hungry market.

• The fastest, most accurate, and expansive data and technology solutions necessary to maximize fan engagement.

Here's the quick math on their commitment: the acquisition of IMG ARENA, completed in November 2025, added approximately 38,000 official data events and 29,000 streaming events, pushing their total sports coverage to more than 1 million matches annually. That's the kind of scale that makes them a true 'engine.'

Sportradar Group AG (SRAD) How It Works

Sportradar Group AG operates as the central nervous system for the global sports betting and media ecosystem, collecting and processing massive amounts of live sports data, then transforming it into mission-critical products for betting operators, sports federations, and media companies. They essentially monetize the speed and accuracy of real-time sports information, driving everything from in-game betting odds to programmatic advertising.

Sportradar Group AG's Product/Service Portfolio

The company's offerings are organized into two main reporting segments: Betting Technology & Solutions, and Sports Content, Technology & Services. The core value is delivered through a few key product lines that serve distinct client needs, as seen in the Q2 2025 revenue breakdown where the Betting segment generated €259 million.

Sportradar Group AG's Operational Framework

The operational process is a highly integrated, end-to-end loop that starts with data collection and ends with a monetized product, all running on a proprietary technology stack. This is a complex machine, but the quick math is: more data, faster, means higher-margin products for clients.

• Official Data Acquisition: Secure exclusive, long-term rights with major sports leagues-like the NBA and UEFA-to be the sole provider of official data. This is a huge barrier to entry for competitors.
• Real-Time Data Collection: Use a global network of human data scouts and proprietary technology, including computer vision and AI, to capture millions of data points per game, often faster than live television broadcasts.
• Processing and Productization: Raw data flows into their proprietary platform where AI models instantly process it into tradable odds, risk management signals, and betting settlement data. This is where they create a high-margin product from a low-margin input.
• Distribution and Integration: Deliver the final products-from data feeds to audiovisual streams-via a highly scalable API (Application Programming Interface) that is deeply embedded in clients' operational and technological infrastructure. This makes it defintely hard for clients to switch providers.

The recent closure of the IMG ARENA acquisition in November 2025 is a massive operational boost, immediately adding over 70 rightsholders and expanding their sports coverage to more than 1 million matches annually.

Sportradar Group AG's Strategic Advantages

Sportradar's market success isn't just about data; it's about the strategic moats they've built around it, which allows them to project a 2025 full-year revenue of at least €1,278 million.

• Exclusive, Premium Rights Portfolio: Holding long-term, exclusive rights for top-tier sports like the NBA, NHL, and FIFA competitions ensures they control the fastest, most reliable data for the most-bet-upon events. This is a non-replicable asset.
• Mission-Critical Integration: Their solutions are 'sticky.' Because their data feeds and Managed Betting Services are essential to a client's core revenue generation-managing risk and setting odds-they are deeply embedded in the client's operations, leading to a high Customer Net Retention Rate, which was 117% in Q2 2025.
• AI and Technology Scale: They have a robust tech stack and deep artificial intelligence (AI) capabilities that improve the efficiency of data collection and accelerate product innovation, especially in high-growth areas like in-play and micro-market betting.
• Integrity as a Business Line: The Integrity Services division, which partners with organizations like the International Olympic Committee, not only generates revenue but also strengthens relationships with sports federations, which in turn helps secure more exclusive data rights.

If you're looking for a deeper dive into who is backing this strategy, you should read Exploring Sportradar Group AG (SRAD) Investor Profile: Who's Buying and Why?

Sportradar Group AG (SRAD) How It Makes Money

Sportradar Group AG generates its revenue by acting as the mission-critical, business-to-business (B2B) technology provider that collects, processes, and commercializes sports data and content for a global ecosystem of betting operators, sports leagues, and media companies. They essentially sell the real-time data and the technology to turn that data into products, like odds, risk management tools, and media content, which is a high-margin, subscription-like model.

Sportradar Group AG's Revenue Breakdown

As of the third quarter of 2025, Sportradar's revenue engine is heavily weighted toward the betting side of the business, but the Sports Content segment is growing much faster. Here is the breakdown based on the most recent Q3 2025 results, which provides the clearest picture of the 2025 fiscal year's composition.

The Betting Technology & Solutions segment, which brought in €233 million in Q3 2025, is the core revenue driver. This segment provides data, odds, and risk management solutions to online and retail sports betting operators globally. The Sports Content, Technology & Services segment, generating €59 million in Q3 2025, is focused on media and sports organizations, selling data and video for broadcast, digital platforms, and fantasy sports.

Business Economics

Sportradar's financial model is built on acquiring exclusive, long-term rights to sports data and then selling that data in a highly scalable, high-margin, subscription-based model. The key is that their cost to acquire the data (sports rights) is relatively fixed, but their ability to sell that data to hundreds of clients worldwide is virtually limitless, creating powerful operating leverage.

• Pricing Power: The company secures long-term, exclusive rights with major leagues, like the NBA, which gives them a monopoly on the official data feed for those sports. This exclusivity translates directly into pricing power with their operator clients.
• High-Margin Offerings: A growing part of the business is Managed Trading Services (MTS), a high-value service where Sportradar essentially takes over the risk management and trading for a betting operator. This removes a significant operational burden for the client and is a higher-margin revenue stream for Sportradar.
• Sticky Revenue: The Customer Net Retention Rate was strong at 114% in Q3 2025, meaning existing customers are not only staying but are buying 14% more services year-over-year. That's a defintely healthy sign of product stickiness.
• U.S. Market Growth: The rapidly expanding U.S. sports betting market is a major growth engine, with U.S. revenue increasing by 21% year-over-year in Q3 2025 and now representing 23% of the total company revenue.

Here's the quick math on scalability: once they pay a fixed fee for a data feed (a sports right), the marginal cost to deliver that data to the 800+ global clients is near zero, which is why the Adjusted EBITDA margin is expanding.

Sportradar Group AG's Financial Performance

The company's financial health is strong, with the full-year 2025 guidance raised in November 2025 following a robust Q3 performance and the completion of the IMG ARENA acquisition. The focus is on top-line growth and margin expansion, showing the business model's inherent operating leverage.

• Full-Year 2025 Revenue Guidance: Sportradar is forecasting revenue of at least €1.290 billion for the full 2025 fiscal year, representing growth of at least 17% year-over-year.
• Adjusted EBITDA and Margin: The full-year Adjusted EBITDA is expected to be at least €290 million, a growth of at least 30%, with the Adjusted EBITDA margin expanding by approximately 240 basis points. The Q3 2025 Adjusted EBITDA margin hit a record 29.0%.
• Profitability: The profit for the third quarter of 2025 was €22 million. Net profit margins have jumped to 9.2% from 2.7% in the prior year, reinforcing the bullish growth narrative.
• Cash Flow and Liquidity: The company generated strong free cash flow of €149 million for the first nine months of 2025, with a conversion rate of 72%. As of September 30, 2025, Sportradar had €360 million in cash and cash equivalents and no debt outstanding, giving them significant financial flexibility for future acquisitions or share repurchases.

The acquisition of IMG ARENA, completed on November 1, 2025, is expected to be accretive to Adjusted EBITDA margins and free cash flow, which is a clear signal that management is focused on profitable growth. If you want to dive deeper into the ownership structure behind these numbers, check out Exploring Sportradar Group AG (SRAD) Investor Profile: Who's Buying and Why?

Sportradar Group AG (SRAD) Market Position & Future Outlook

Sportradar Group AG is the clear market leader in the B2B sports data and technology space, a position solidified by its recent strategic moves and a raised financial outlook for 2025. The company is strategically positioned to capitalize on the global expansion of regulated sports betting, but you must be mindful of the duopolistic competition and rising regulatory scrutiny.

For the 2025 fiscal year, Sportradar is projecting total revenue of at least €1.290 billion, reflecting year-on-year growth of at least 17%, with Adjusted EBITDA expected to be at least €290 million. That's a strong signal of management confidence in their scale and pricing power.

Competitive Landscape

Sportradar operates in a duopoly for official sports data rights, primarily competing with Genius Sports Ltd, while also facing competition from other data providers like Stats Perform and in-house solutions from major betting operators. The core battle is over exclusive, low-latency data feeds, which are the lifeblood of in-play betting.

Here's the quick math: Sportradar's revenue guidance of at least $1.5 billion for 2025 is more than double the $645 million guidance from its main competitor, Genius Sports, underscoring its scale advantage.

Opportunities & Challenges

Your investment decision should weigh the immediate growth drivers against the structural risks inherent in the sports rights business. The biggest opportunity is the continued US market expansion; the biggest risk is losing a key league contract.

Industry Position

Sportradar is defintely a critical infrastructure provider for the global sports betting ecosystem, sitting at the intersection of data, media, and betting. Its long-term, exclusive data rights with major organizations like the NBA, NHL, and UEFA create a significant barrier to entry (a moat) for new competitors.

• Dominant Platform: The company's full-stack offering-from data collection to Managed Trading Services (MTS)-makes it a one-stop-shop for global sportsbooks.
• Integrity Leader: Sportradar provides essential integrity services, monitoring over 1 million matches annually to detect match-fixing, which is a key value-add for regulated markets.
• Financial Strength: The company reported a strong Customer Net Retention rate of 114% as of Q3 2025, showing existing customers are spending more.
• Content Scale: The total sports coverage now exceeds 1 million matches annually following the IMG ARENA acquisition.

To understand the foundation of this competitive edge, you should review their core principles: Mission Statement, Vision, & Core Values of Sportradar Group AG (SRAD).