Chief Financial Officer Craig Felenstein said they are driving sustained revenue growth. They are also converting more of each dollar into adjusted EBITDA and free cash flow. As a result, they have positioned themselves well to create additional shareholder value in the months and years ahead.
Their first-quarter earnings highlight what continues to set Sportradar apart in the industry. The results come shortly after their Investor Day. They are a mission-critical technology leader operating in a fast-growing industry that is moving toward more personalized and interactive experiences. Moreover, they are capitalizing on their strengths and building on the momentum from 2024. They are delivering increased value for their clients, partners, and shareholders.
Sportradar delivered record total company revenue of €311 million this past quarter. This marks a 17% increase compared to the first quarter of last year. They continue to outpace overall market growth. Stronger demand for their leading products and solutions drove the rise. Their consistent ability to deliver returns well ahead of market growth shows how their high-demand content and products resonate with customers. This demonstrates their strong position and ability to capitalize on the fast-growing market. Their U.S. revenues have expanded to 28% of their total revenues.
They continued to deliver increasing operating leverage, with the Adjusted EBITDA margin expanding by 120 basis points to nearly 19% for the first quarter. Free cash flow grew to €32 million, translating to a conversion rate of 54%. Their top-line performance was reflected in the bottom line, with Adjusted EBITDA increasing by 25%.
Reflecting the strength and resilience of their business, the positive first-quarter results, and operating momentum, they continue to see strong and durable growth ahead. They are also reiterating their 2025 guidance.
An estimate of €2 billion in contractual revenue commitments underscores their growth expectations over the next two years. They are at an inflection point for multi-year margin expansion and increasing cash generation, combined with strong visibility on their key costs. These include their locked-in sports rights.
