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Sportradar Group AG (NASDAQ:SRAD) backed its annual guidance on Wednesday.
The global sports technology company expects FY23 revenue in the range of €902.0M to €920.0M to represent growth of 24% to 26% from a year ago. Adjusted EBITDA for the full year is expected to fall in a range of €157.0M to €167.0M to represent 25% to 33% growth from a year ago. An adjusted EBITDA margin of 17% to 18% is anticipated.
In terms of the relative weighting of revenue and adjusted EBITDA in Q3 and Q4, Sportradar (SRAD) said Q3 should represent approximately 43% of second half revenue and 52% of second half adjusted EBITDA. The company said Q4 should represent approximately 57% of second half revenue and 48% of second half adjusted EBITDA.
Looking ahead, Sportradar (SRAD) CFO Gerard Griffin will participate at the Citi 2023 Global Technology Conference on September 6 and the Bank of America Annual Gaming and Lodging Conference on September 7.
Shares of Sportradar (SRAD) fell 0.95% in premarket trading to $11.31 vs. the 52-week trading range of $7.84 to $15.57.
