HomeMarket NewsSportradar Group AG reaffirms previous guidance ahead of upcoming conferences

Sportradar Group AG reaffirms previous guidance ahead of upcoming conferences

Actionable Trade Ideas

always free

Blockchain background concept

blackdovfx/E+ via Getty Images

Sportradar Group AG, listed on NASDAQ under the ticker SRAD, has affirmed its annual guidance as of Wednesday.

The global sports technology company is projecting FY23 revenue to be in the range of €902.0M to €920.0M, reflecting a year-on-year growth of 24% to 26%. Adjusted EBITDA for the full year is expected to fall within the range of €157.0M to €167.0M, indicating a growth rate of 25% to 33% compared to the previous year. The company anticipates achieving an adjusted EBITDA margin between 17% and 18%.

Regarding the proportional distribution of revenue and adjusted EBITDA in Q3 and Q4, Sportradar (SRAD) states that Q3 should account for approximately 43% of the second half’s revenue and 52% of the second half’s adjusted EBITDA. Q4, on the other hand, is projected to contribute around 57% of the second half’s revenue and 48% of the second half’s adjusted EBITDA.

Moving forward, Sportradar (SRAD) CFO Gerard Griffin is scheduled to take part in the Citi 2023 Global Technology Conference on September 6, as well as the Bank of America Annual Gaming and Lodging Conference on September 7.

During premarket trading, shares of Sportradar (SRAD) experienced a decline of 0.95%, reaching $11.31. This is within the company’s 52-week trading range of $7.84 to $15.57.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.