Sportradar reports third-quarter earnings (Nov 17th)

$Sportradar Group AG (SRAD.US)$ Sportradar, the Switzerland-based sports betting data provider, will report quarterly earnings for the first time since completing its IPO in September. Sportradar earned $478 million in 2020, with $18 million in net income. Over the first half of 2021, Sportradar increased revenue 42% on a year-over-year basis.

When Sportradar went public in September, the company indicated that it plans to pursue acquisitions of tech and artificial intelligence companies as a way of furthering its growth plans. Earlier this month, Sportradar secured an exclusive betting data rights agreement with UEFA’s portfolio of competitions, including the UEFA European Championships in soccer. Also during the quarter, Michael Jordan assumed an advisory role with Sportradar’s board while increasing his investment in the company.

View: $SRAD has been on a small uptick the last few weeks after reaching a low. With gambling stocks down across the board, could this be the exception?