SPORTRADAR GROUP Reports Q2 2023 Earnings Results for FY2023
August 13, 2023
🌥️Earnings Overview
On August 9 2023, SPORTRADAR GROUP ($NASDAQ:SRAD) reported their earnings results for the second quarter of their fiscal year 2023, as of June 30. Revenue for the quarter totalled EUR 216.4 million, a 22.1% increase from the same period the previous year. Unfortunately, their net income for this quarter was EUR 0.09 million, a 99.6% decrease from the same quarter in the prior year.
Price History
On Wednesday, SPORTRADAR GROUP reported its Q2 2023 earnings results for FY2023. Following the announcement, the stock opened at $13.3 before dropping 10.9% to a close of $12.7. This marks a significant decline from its last closing price of $14.2. The disappointing results were due to lower-than-expected margins and higher costs associated with the company’s new content offerings.
Moreover, the company’s efforts to expand into new markets, such as esports and virtual sports, have not yielded the desired results so far. Overall, while SPORTRADAR GROUP may have reported a challenging quarter, investors remain hopeful that the company can rebound and deliver better performance in the future. With its focus on innovation and expansion, SPORTRADAR GROUP is well-positioned to take advantage of long-term growth opportunities in the sports media industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sportradar Group. More…
| Total Revenues | Net Income | Net Margin |
| 809.12 | -13.11 | -0.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sportradar Group. More…
| Operations | Investing | Financing |
| 213.85 | -225.07 | -437.46 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sportradar Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.38k | 606.1 | 2.59 |
Key Ratios Snapshot
Some of the financial key ratios for Sportradar Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 24.3% | -19.4% | 3.8% |
| FCF Margin | ROE | ROA |
| 3.2% | 2.5% | 1.4% |
Analysis
As GoodWhale, we have done a detailed analysis of the financial and business aspects of SPORTRADAR GROUP. Our Risk Rating has determined that SPORTRADAR GROUP is a medium risk investment. We have detected two risk warnings in the income sheet and balance sheet of SPORTRADAR GROUP. In order to review this further, feel free to register on our platform, goodwhale.com, to gain access to our detailed analysis. More…
Peers
The company has a strong presence in the European market and is a leading provider of sports data and information services in the United States. The company’s main competitors are Auddia Inc, Riskified Ltd, and ON24 Inc.
– Auddia Inc ($NASDAQ:AUUD)
Auddia Inc is a publicly traded company with a market capitalization of $14.02 million as of 2022. The company has a negative return on equity of 64.3%.
Auddia Inc is a provider of software and services for the broadcasting industry. The company’s software and services enable broadcasters to manage their operations more efficiently and effectively. Auddia’s products and services are used by broadcasters worldwide.
– Riskified Ltd ($NYSE:RSKD)
Riskified Ltd is a technology company that provides fraud prevention and risk management solutions for eCommerce businesses. The company has a market cap of 742.09M as of 2022 and a return on equity of -14.29%. Riskified was founded in 2012 and is headquartered in New York, NY.
– ON24 Inc ($NYSE:ONTF)
Shopify Inc is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. Shopify offers online retailers a suite of services “including payments, marketing, shipping and customer engagement” to simplify the process of running an online store for small merchants. As of 2021, Shopify has more than one million active users, and has been growing rapidly since its inception in 2004.
Shopify has a market cap of 384.62M as of 2022 and a Return on Equity of -9.68%. The company provides an e-commerce platform for online stores and retail point-of-sale systems. Shopify has been growing rapidly since its inception in 2004 and has more than one million active users as of 2021.
Summary
Sportradar Group recently reported their financial results for the second quarter of 2023, showing total revenue of EUR 216.4 million, a 22.1% increase when compared to the same period last year. However, net income was down 99.6% year over year to EUR 0.09 million, resulting in a significant decline in the stock price on the day of the announcement. From an investing perspective, this could be seen as a sign of potential weakness in the company’s fundamentals, and investors should continue to closely monitor the company’s performance going forward.
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