On the Q4 2025 earnings call on March 3, 2026, CFO Craig Felenstein reiterated full-year revenue guidance: "As we initially indicated on last quarter's earnings call, for the full year 2026, we anticipate total company revenue growth to be in the range of 23% to 25%." The guidance contained no qualification for regulatory or compliance risks tied to the company's betting-operator client base. On the same call, CEO Carsten Koerl stated the company “continue[d] to outperform market growth by depending our client relationships” — with no reference to the alleged compliance exposure that has now surfaced.
The 20-F annual report filed March 27, 2026 listed generic responsible-gambling language in its risk factors but did not address the specific allegation that the company's data-distribution model served illegal gambling operators. When the short-seller reports made those allegations public on April 22, 2026, SRAD fell more than 22% in a single session and Truist Financial cut its price target.
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