The sports betting technology company Sportradar has recently published its latest financial report detailing the third quarter of the year.
The analysis showed signs of healthy growth for the company, with one of the headline figures reported being an over 30% increase in revenue.
Starting off with the aforementioned revenue statistics, the number was reported at over 178 million euros, a 31% increase in comparison to the revenue figure of 136 million euros recorded in the same quarter of last year.
The firm’s EBITDA statistics were looking great as well, with the figure being recorded at over 36 million euros, a stark difference to the under 21 million euros earned the year prior. That amounts to a massive 75% increase.
Other improvements were recorded as well, such as an increase in cash flow. The figure reported for the third quarter saw a relatively small bump from just under 33 million to about 34 million euros. However, for the first nine months of the year, it saw a large jump to 82.5 million euros in comparison to 37 million euros recorded in the same period of the prior year.
Sportradar also experienced a decrease in its total liabilities, going from just over a billion euros at the start of the year to under 850 million euros on the 30th of September.
One of the biggest drivers for this success was the company’s rapid expansion in the United States. Their operations in the region grew by over 60% in the quarter and made over 31 million euros in revenue.
Lastly, the business signed a number of significant contracts in the quarter, some of which, like their recent near 10-year agreement with FanDuel, were highlighted in the document as notable achievements.