Sportradar’s sustained operational and financial momentum continued during the second quarter and I would like to provide an update regarding what’s behind the numbers and where we’re headed next.
Sportradar’s unique position at the intersection of the sports, media and betting industries is driving broad-based growth as we leverage our diverse product portfolio, leading technology solutions and high-demand content across our unmatched global footprint. This was demonstrated by our second quarter results, which included record revenue of €318 million, up 14% year-on-year. At the same time, we remain disciplined regarding our cost structure, allowing us to deliver more of those revenues to the bottom line as evidenced by the 31% growth in adjusted EBITDA* to €64 million, operating margin expansion of over 250 basis points, and strong free cash flow* of €52 million.
We continue to create more value for our league partners, customers and shareholders through focused execution and thoughtful reinvestment in the business. The strong and consistent results as well as the strategic investments we are making have resulted in a strong balance sheet that provides us with flexibility to explore additional organic and M&A growth opportunities, while opportunistically returning capital to shareholders. This past quarter, we did just that, repurchasing $66 million of shares as part of the recent secondary transaction.
Looking Ahead
The strategy we discussed earlier this year at our Investor Day is clearly continuing to deliver strong results and has set up Sportradar for sustained success. By aligning closely with our clients’ evolving needs while focusing on operational efficiency, we’ve positioned ourselves to capitalize on the expanding market and expect to continue to deliver meaningful top and bottom-line growth in both the short and long term.
As we drive further revenue opportunities, we see meaningful opportunity to deliver additional operating margin expansion over the long term, given the inherent scale we have in our business and our significant long-term cost visibility. We will closely manage our cost structure as we invest in innovation and product development, while realizing the benefits of sports rights being amortized on a straight-line basis over the life of these contracts. By doing so, we expect to deliver more of every dollar of revenue to our bottom line.
We’re entering the second half of the year with momentum and focus. The opportunity ahead of us is significant. Our priorities remain clear: continue growing responsibly, invest with intention, and deliver long-term value to all our stakeholders.
To our investors, thank you for your continued trust. To our teams, thank you for your relentless execution. And to our clients and partners, thank you for choosing us.
Craig Felenstein
