Sports data supplier Sportradar has recorded revenue figures of €136.8m ($158.7m/£115.1m) for the third quarter of 2021, representing a 29.9% increase on the same period last year.
The quarter marks Sportradar’s first since completing its initial public offering (IPO) and listing on the Nasdaq market, which the company estimates raised €546.0m which would be used to fund continued growth in the business.
Breaking down the supplier’s €136.8m in revenue, €19.6m of the revenue total was derived from business in the US – a 120.2% increase from 2020. Betting revenue from the rest of the world came to €78.6m, up 24.45.
Meanwhile, betting audiovisual revenue from the rest of the world – made up mostly of live streaming solutions for betting operators – was €29.0m, down slightly from 2020, and other segments added €7.4m.
Operating expenses for the quarter were €76.4m, up from €41.0m in 2020. Personnel expenses amounted to €51.3m, while other operating expenses totaled €25.2m.
Depreciation and amortisation expenses came to €27.2m, while €29.4m was spent on purchased services and licences.
After these costs, net losses were reduced when compared to 2020, falling from €16.0m to €6.0m.