Sportradar has reported 19% year-on-year revenue growth to €378m (£324m) for Q2 2026 after the SportTech firm entered into strategic, multi-year agreements with prediction markets giants Polymarket and Kalshi.
Adjusted EBITDA also saw a 19% YoY increase to €76m (Q2 2025: €64m), but strikingly, the Switzerland-headquartered, US-listed firm did end the quarter with a €4m loss.
This represented a €53m decline from the €49m profit which the business made in Q2 2025.
Underneath the surface
Sportradar attributed its shortfallings in the profit department towards a €9m loss in unrealised foreign currency losses, which were mainly tied to US dollar-denominated sports rights. It also cited severance costs related to cost efficiency initiatives.
It has now reduced its 2026 expectations on the back of the results, despite the huge YoY upturn in revenue and adjusted EBITDA.
The firm did, however, find success via an extension of its exclusive global distribution agreement with The All England Club for official data and audiovisual betting rights for Wimbledon.
Revenue in its betting technology and solutions department was €313.6m, up 21% and fuelled by a 27% increase in betting and gaming content following the IMG ARENA acquisition. Managed betting services remained flat at €59.2m.
For its sports content, technology and services arm, revenue rose 9% to €64.2m, largely driven by a 16% rise in marketing and media services, though it was partially offset by a 13% decline in sports performance.
Carsten Koerl, Chief Executive Officer of Sportradar, said: “Sportradar’s second-quarter financial growth, along with the progress we delivered across a variety of key strategic initiatives, reflects our mission-critical role at the centre of the global sports ecosystem.
“Strong demand for our premium content, data and technology solutions, including increased monetisation of our IMG ARENA rights portfolio, drove double-digit growth while deepening our relationships across our unparalleled global distribution network.
“We also further expanded our addressable market, entering into strategic partnerships with key prediction market participants that will enable us to capitalise on this fast-growing ecosystem.”
Sportradar split its revenue market-by-market into two areas – the US and the rest of the world.
US revenue experienced a 16% jump from €88m to €101.8m, accounting for 27% of total revenue, with the rest of the world revenue coming in at €276m – a 20% jump.
The company stated that it has plans to further expand “in major European markets and several US states”, following its successful scaling across South America, Europe and Canada in Q2.
A unique period for Sportradar
Its results come off the back of a relatively bizarre period in which it was embroiled in a spat with Callisto Research and Muddy Waters – two companies which shorted Sportradar’s stock – over allegations that the firm had been providing services to black market operators.
Sportradar quickly quashed this by claiming that the firms’ claims “contain several factual inaccuracies about Sportradar”, adding that it will “unequivocally challenge these assertions”.
Since the dispute began back in mid-April, the company’s stock has not managed to recover – now trading at around $14.50 (£10.76) on the NASDAQ, below its April high of $18.02.
Management did not make reference to the corporate feud in its Q2 results announcement, though the company will have to address it at some point as it aims to resolve a lawsuit filed by investor James Anthony Smale.
The company now projects full-year revenue between €1.518bn-€1.533bn, with adjusted EBITDA expected to come in between €360m-€368m.
This is slightly down on Q1 estimations of €1.557bn-€1.582bn and €390m-€400m respectively.
Koerl concluded: “As we benefit from new avenues of growth, we remain focused on innovating across our core product suite to drive additional value for our partners, and clients as well as our shareholders.”