Revenue growth has decelerated from 28.6% in 2024Q2 to 13.2% in 2026Q1, while gross margins have compressed significantly from a peak of 76.6% to 16.4% over the same period.
| Sales/Revenue | 1.33B | 1.24B | 1.11B | 877.62M | 730.19M | 561.2M | 404.92M | 380.4M |
| Revenue Growth % | 15.24% | 11.97% | 26.09% | 20.19% | 30.11% | 38.59% | 6.45% | - |
| Cost of Goods Sold | 820.22M | 977.51M | 478.01M | 337.59M | 298.47M | 107.63M | 83.21M | 53.53M |
| COGS % of Revenue | - | 78.89% | 43.2% | 38.47% | 40.88% | 19.18% | 20.55% | 14.07% |
| Gross Profit | 507.27M | 261.55M | 628.55M | 540.03M | 431.72M | 453.57M | 321.71M | 326.87M |
| Gross Margin % | 38.21% | 21.11% | 56.8% | 61.53% | 59.12% | 80.82% | 79.45% | 85.93% |
| Gross Profit Growth % | - | -58.39% | 16.39% | 25.09% | -4.82% | 40.99% | -1.58% | - |
| Operating Expenses | 383.94M | 149.27M | 493.99M | 461.82M | 406.49M | 400.5M | 321.71M | 278.61M |
| OpEx % of Revenue | - | 12.05% | 44.64% | 52.62% | 55.67% | 71.37% | 79.45% | 73.24% |
| Selling, General & Admin | 292.51M | 149.27M | 396.01M | 374.25M | 333.61M | 253.53M | 149.03M | 165.81M |
| SG&A % of Revenue | - | 12.05% | 35.79% | 42.64% | 45.69% | 45.18% | 36.8% | 43.59% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 27.73M |
| R&D % of Revenue | - | - | - | - | - | - | - | 7.29% |
| Other Operating Expenses | 2M | 0 | 97.98M | 87.57M | 72.88M | 146.97M | 172.68M | 112.8M |
| Operating Income | 123.33M | 112.27M | 134.56M | 78.21M | 25.23M | 53.07M | 0 | 52.34M |
| Operating Margin % | 9.29% | 9.06% | 12.16% | 8.91% | 3.46% | 9.46% | - | 13.76% |
| Operating Income Growth % | - | -16.56% | 72.05% | 209.95% | -52.45% | - | -100% | - |
| EBITDA | 308.32M | 176.58M | 419.29M | 284.57M | 210.05M | 182.44M | 171.2M | 164.82M |
| EBITDA Margin % | 23.23% | 14.25% | 37.89% | 32.43% | 28.77% | 32.51% | 42.28% | 43.33% |
| EBITDA Growth % | -26.62% | -57.89% | 47.34% | 35.48% | 15.13% | 6.57% | 3.87% | - |
| D&A (Non-Cash Add-back) | 184.99M | 64.31M | 284.73M | 206.36M | 184.81M | 129.38M | 132.41M | 112.48M |
| EBIT | 180.2M | 112.27M | 100.02M | 78.65M | 57.83M | 56.15M | 38.78M | 3.19M |
| Net Interest Income | -77.67M | -73M | -68.19M | -20.88M | -36.2M | -27.24M | -11.4M | -9.13M |
| Interest Income | 11.51M | 10.12M | 9.29M | 10.57M | 5.25M | 5.3M | 7.59M | 4.24M |
| Interest Expense | 89.18M | 83.12M | 77.47M | 31.45M | 41.45M | 32.54M | 18.99M | 13.44M |
| Other Income/Expense | -38.85M | 1.81M | -112.01M | -31.01M | -7.44M | -29.24M | 22.13M | -58.51M |
| Pretax Income | 84.48M | 114.08M | 22.55M | 47.2M | 17.79M | 23.82M | 22.13M | -10.24M |
| Pretax Margin % | 6.36% | 9.21% | 2.04% | 5.38% | 2.44% | 4.25% | 5.46% | -2.69% |
| Income Tax | 14.93M | 17.71M | -11.06M | 12.55M | 7.3M | 11.04M | 7.32M | -21.91M |
| Effective Tax Rate % | 17.67% | 15.53% | -49.04% | 26.59% | 41.03% | 46.33% | 33.08% | 213.86% |
| Net Income | 69.68M | 96.36M | 34.15M | 34.66M | 10.89M | 12.57M | 15.24M | 11.73M |
| Net Margin % | 5.25% | 7.78% | 3.09% | 3.95% | 1.49% | 2.24% | 3.76% | 3.08% |
| Net Income Growth % | 18.25% | 182.17% | -1.46% | 218.2% | -13.35% | -17.55% | 29.92% | - |
| Net Income (Continuing) | 69.55M | 96.36M | 33.61M | 34.65M | 10.49M | 12.79M | 14.81M | 11.66M |
| Discontinued Operations | 0 | 0 | 0 | -751K | 0 | 0 | 0 | 0 |
| Minority Interest | 1K | 2K | 4.69M | 5.04M | 5.84M | -3.19M | -3.85M | -3.35M |
| EPS (Diluted) | 0.23 | 0.30 | 0.10 | 0.11 | 0.03 | 0.05 | 0.03 | 0.03 |
| EPS Growth % | 13.51% | 200% | -9.09% | 221.64% | -26.92% | 49.04% | 21.71% | - |
| EPS (Basic) | - | 0.32 | 0.11 | 0.11 | 0.04 | 0.05 | 0.03 | 0.03 |
| Diluted Shares Outstanding | 297.6M | 319.36M | 317.85M | 317.01M | 312.53M | 279.04M | 295.82M | 295.82M |
| Basic Shares Outstanding | 297.6M | 300.5M | 300.64M | 310.29M | 296.92M | 277.04M | 295.82M | 295.82M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Rights cost inflation volatility
As reported in recent financial filings, Sportradar's year-over-year revenue growth has decelerated from 28.6% in 2024Q2 to 13.2% by 2026Q1, suggesting that the initial rapid expansion phase of its data distribution network is encountering market saturation or increased competition for high-value sports betting rights.
The consistent decline in top-line growth rates indicates that the company's ability to capture new market share is moderating. Investors should monitor whether this trend reflects a structural limit in the addressable market or if it is merely a temporary pause before the next cycle of league contract renewals.
Based on the provided income statement data, Sportradar's gross margin experienced significant compression, falling from a peak of 76.6% in 2023Q4 to a low of 16.4% in 2026Q1, highlighting the heavy and unpredictable impact of sports data rights acquisition costs on the company's core profitability.
This extreme variability suggests that the company's gross margin is not a stable indicator of operational efficiency but rather a function of the timing and cost of exclusive league partnerships. The sharp drop in recent periods implies that the cost of securing essential data feeds is rising faster than the company's ability to pass these costs to bookmakers.
According to the company's income statements, operating income has failed to scale consistently with revenue, as evidenced by the 2026Q1 operating margin of 7.3% compared to the 15.0% margin achieved in 2024Q3, suggesting that SG&A and rights-related costs are absorbing potential gains from top-line growth.
The lack of clear operating leverage indicates that the business model remains highly sensitive to the underlying cost of its data inputs. Without a more efficient conversion of revenue into operating profit, the company may struggle to demonstrate the scalability typically expected of a technology-focused enterprise.
Financial statements reveal that net income has been highly inconsistent, swinging from a $49.2 million profit in 2025Q2 to a $6.4 million loss in 2026Q1, which warrants further investigation into the non-operating items and accounting adjustments that frequently obscure the company's underlying cash-generating capability.
The frequent shifts between profitability and losses suggest that reported net income is heavily influenced by non-recurring factors or accounting timing differences rather than steady operational performance. Investors should look past headline EPS figures to understand the true cash-flow impact of the company's heavy investment in sports rights.
Quick answers to the most common questions about buying SRAD stock.
For fiscal year 2025, Sportradar Group AG (SRAD) reported total revenue of $1.24B. This represents a 225.7% increase compared to $380.4M in 2019.
Sportradar Group AG (SRAD) is profitable, generating $96.4M in net income for the fiscal year ending 2025 with a net profit margin of 7.8%.
Sportradar Group AG (SRAD) reported an operating income of $112.3M, resulting in an operating profit margin of 9.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Sportradar Group AG (SRAD) generated $261.5M in gross profit for the year, representing a gross profit margin of 21.1%. This demonstrates the company's core pricing power and production efficiency.