Sportradar’s US revenue grew 47% in the third quarter, its fastest quarterly rise since 2024. US sales now account for 27% of group revenue, with €98 million posted in the quarter and adjusted EBITDA up 21% to €102 million.
Sportradar reported Q3 revenue of €362.5 million ($406.9 million), up 24% year over year. Adjusted EBITDA rose 21% to €102 million, a 28.2% margin. US revenue reached €98 million, up 27%, while Betting & Gaming Content grew 37% to €242 million. The Atrium Sports sale to Teamworks Innovations is still pending.
- Sportradar Q3 Revenue Beats Both Forecasts
- Prediction Markets Become a Growth Driver
- NBA Preferred Exchanges and Atrium Sale
- Brazil Ban Hits the 2026 Outlook
Sportradar’s Q3 revenue reached €362.5 million ($406.9 million), up 24% year over year. That is the fastest quarterly rise in the 2026 reporting year and a clear sign of momentum behind the traditional sports data business. The company reported adjusted EBITDA of €102 million, up 21%, leaving a 28.2% margin.
Freedom Capital Markets analyst Nick McKay said the quarter beat both his forecasts and market consensus. Revenue came in at €362.5 million against a €359 million internal estimate and €358 million consensus. Adjusted EBITDA landed at €102 million versus €93.5 million and €92.6 million respectively. Following this, the analyst called Q3 the strongest quarterly performance for Sportradar in 2026.
Two factors pushed the result higher. The timing of major sporting events contributed, and IMG ARENA content rights added weight. Both elements are expected to recur in Q4, which McKay sees as the strongest quarter of the year for the Swiss sports data company.
Sportradar Q3 Revenue Beats Both Forecasts
The group’s US business accounted for €98 million, up 27% from €79 million a year earlier. US sales represent 27% of group revenue, compared with 23% in H2 2025. International markets contributed roughly 73% of the quarter, spreading the group across the European, Middle Eastern and Asian markets where sports data still drives the business.
McKay expects traditional US sports-betting clients to grow at a low single-digit rate in 2027. That is a slower trajectory than the 47% the US business delivered in Q3, so the growth story increasingly rests on other clients rather than bookmakers.
Prediction Markets Become a Growth Driver
Sportradar has agreements with prediction-market exchanges, brokers and market makers. During the quarter, it expanded its partnership with Polymarket to cover more than 20 leagues and competitions, including the Bundesliga, EuroLeague Basketball and the Grand Slams. It also signed exchanges Kalshi and Novig, broker Robinhood, and roughly 10 market makers.
AGBrief tracks how prediction-market operators are reshaping sports-data partnerships across the region.
The company did not disclose revenue specifically attributable to prediction markets. McKay said the disclosures indicate a meaningful contribution for the first time, but cautioned that the business remains in its early stages. The 27% year-over-year rise in US revenue is broader than prediction markets alone, but the trend points at a structural shift in who pays for data.
As a result, the US outlook for 2027 remains soft. Traditional sports-betting clients are expected to grow at a low-single-digit rate, while international operations face regulatory and tax pressures. Prediction markets could help offset that deceleration, but their legal status in key markets remains a risk.
NBA Preferred Exchanges and Atrium Sale
Carsten Koerl, chief executive of Sportradar, addressed analysts for the first time since the NBA signed a memorandum of understanding with the Commodity Futures Trading Commission on prediction markets. Under the framework, the league designated Kalshi and Polymarket as its Preferred Prediction Market Exchanges.
The NBA relationship has deep roots. Sportradar signed a 10-year deal in 2021, then became the league’s exclusive gatekeeper for official betting data from the 2023-24 season. Following the agreement with the CFTC, the NBA entered prediction markets for the first time.
Sportradar is also exiting its Sports Performance business, with the sale of Atrium to Teamworks Innovations valued at $170 million. The transaction optimises the group’s footprint while retaining key technology assets, according to Koerl. The sale should complete before year-end, but the guidance does not yet reflect the effect.
Brazil Ban Hits the 2026 Outlook
Sportradar held its 2026 guidance. Revenue guidance of €1.518 billion to €1.533 billion and adjusted EBITDA of €360 million to €368 million remain unchanged. The guidance excludes revenue from Brazil but includes Atrium, whose sale may complete before the end of the year.
iGaming Business reported that Brazil’s betting ban is putting pressure on the country’s gaming industry, and that pressure is now visible in Sportradar’s guidance.
McKay’s Q4 estimates are €431 million to €439 million in revenue and €116 million to €124 million in adjusted EBITDA. He assumed Brazil contributed around €60 million of annual revenue, implying a possible Q4 shortfall of about €15 million. The guidance already reflects the ban’s impact, but it does not yet factor in the Atrium sale.
Betting & Gaming Content Rises 37%
Betting & Gaming Content, Sportradar’s fastest-growing product line, rose 37% to €242 million. The increase reflects IMG ARENA rights, stronger sales to existing customers and new business from prediction-market participants.
Betting Technology & Solutions generated €297 million, up 27%. Managed Betting Services fell 3% to €54.7 million, a soft spot for the quarter. McKay’s revised estimates put 2027 revenue at €1.565 billion and adjusted EBITDA at roughly €390 million. For 2028, he sees €1.72 billion in revenue and €450 million in adjusted EBITDA.
Frequently Asked Questions
How much did Sportradar’s US revenue grow in Q3?
US revenue grew 47% to €98 million, the fastest growth since 2024. It represents 27% of group revenue, up from 23% a year earlier, following a wider rollout of prediction-market agreements.
What drove Sportradar’s Q3 growth?
Two factors contributed: the timing of major sporting events and IMG ARENA content rights. Q3 was Sportradar’s strongest quarter of 2026, with revenue of €362.5 million and adjusted EBITDA of €102 million, a 28.2% margin.
How much revenue comes from prediction markets?
Sportradar did not disclose revenue specifically attributable to prediction markets. The company said the business is meaningful but still in an early stage, with agreements covering exchanges, brokers and around 10 market makers.
Why did Sportradar sell Atrium Sports?
Teamworks Innovations agreed to buy Atrium for $170 million. The sale optimises Sportradar’s footprint while retaining key technology assets, and Koerl said the proceeds will strengthen the balance sheet.
What does Sportradar’s Brazil ban risk mean?
Brazil generated around €60 million of annual revenue. McKay implied a possible Q4 shortfall of about €15 million. The ban is already reflected in the 2026 outlook, which excludes Brazil but still includes Atrium.
What are Sportradar’s 2027 and 2028 estimates?
McKay put 2027 revenue at €1.565 billion and adjusted EBITDA at about €390 million. For 2028 he sees €1.72 billion in revenue and €450 million in adjusted EBITDA, assuming roughly 10% growth and a 26% margin.
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