Sportradar lifts US revenue 47% to €98m in Q3
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Sportradar said its US revenue rose 47% to €98 million in the third quarter, with prediction-market partnerships contributing financially for the first time. Overall revenue increased 24% to €363 million, while adjusted EBITDA rose 21% to €102 million. Chief executive Carsten Koerl said the company served Kalshi, Polymarket, Novig and Robinhood.
Sportradar reported a 47% increase in US revenue in the third quarter. US revenue reached €98m ($109.6m). Chief executive Carsten Koerl told analysts the quarter marked the first financial impact from the company's prediction market partnerships.
Total revenue grew 24% to €363 million ($405.8 million), exceeding Wall Street consensus estimates. Adjusted EBITDA climbed 21% to €102 million ($114 million) and also beat expectations. Sportradar shares rose 10.3% on Tuesday, closing at $14.20. Even after that jump, the stock remains down about 46% this year.
Koerl said the company relies on "the same rights, the same technology, and the same teams" that already power its betting business. According to CFO Craig Felenstein, the deals pair fixed fees with payments that depend on how active the markets are. Felenstein said he expects "some significant growth from prediction markets next year." He did not put a number on the expected contribution.
Sportradar had expected stronger expansion in conventional online sports betting at its 2025 investor day, but that growth has since cooled. Felenstein said the traditional OSB market is now "growing a lot less than that." He was comparing this with earlier expectations of double-digit growth. Koerl pointed to the NBA's recent authorisation of prediction markets, which includes a requirement that participating exchanges rely on official data for settlement. When questioned on state-level limits, Koerl said customer contracts bar use of Sportradar content in places where prediction markets are not allowed. He added that the financial effect so far has been immaterial.