Global sports technology company, Sportradar, has revealed its financial results for 2021, including total revenue of €623.6 million (AUD$923 million), a 39% increase year-on-year.

The company reported an expectation for its 2022 financial year revenue to range between AUD$992.2 million and AUD$1 billion and adjusted earnings before interest, taxes, depreciation, and amortisation (Ebitda) is expected to be in the range of $182 million and $196.8 million.

Adjusted EBITDA for the full year of 2021 increased by 33% to $150.9 million, with the full year adjusted EBITDA exceeding the top end of the company’s 2021 annual outlook, excluding the company’s September 2021 Initial Public Offering (IPO) costs.

The report also showed strong dollar-based net retention rate increased to 125% in 2021 compared with 113% for 2020, with cash and cash equivalents totalling $1 billion as of December 31, 2021, and total liquidity available for use, including undrawn credit facilities, totalling $1.2 billion.

Throughout the 2021 fiscal year, Sportradar extended its multi-year partnerships across a number of sporting properties, including the NBA and NHL in the US, and the Bundesliga in Germany.

Sportradar also added new partnerships with organisations including the International Cricket Council (ICC) and UEFA.

Among the report was details of the fourth quarter of 2021, which included a 41% revenue increase to $225.3 million, which the company claimed was driven by growth across all business segments, including strong performance in the US which was earmarked by revenue increasing by 92% compared to 2020.

Sportradar CEO, Carsten Koerl, said: “I am very pleased with our strong results, which illustrate how well we are delivering on our operational and growth plans.”

“Importantly, we have good momentum going into our next fiscal year.

“We are continuing to invest in content, technology and people that will allow us to deliver profitable growth in line with our goals.

“We are particularly pleased about more than doubling our year-over-year revenues in the United States, which continues its explosive sports betting growth story.

“Sportradar has been a leader in this market since 2014, and we’re now seeing the results of our early investment.

“We continue to see the enormous opportunity as sports betting becomes an increasingly integral part of the media entertainment fabric in the U.S,” Koerl said.

Sportradar’s total sport rights costs in the fourth quarter of 2021 were reported as $56.9 million, 30 times the figure reported in the fourth quarter of 2020 due to the easing of COVID-19 pandemic restrictions globally.