Genius Sports Reports Revenue and Adj. EBITDA Ahead of Guidance Through First Three Quarters of 2022

By Genius Sports Press | 10 Nov 2022

  • Genius reported Group Revenue of $235.7m and Group Adj. EBITDA of $13.1m in the nine months ended September 30, 2022, beating guidance of $231.0m and $12.0m, respectively
  • Strong annual growth of Third Quarter Group Revenue, increasing 28% at constant currency to $78.7m ($86.1m at guidance exchange rate1 $85.0m guidance)
  • Third Quarter Group Net loss of $9.0m and Group Adj. EBITDA of $7.7m ($8.7m at guidance exchange rate1 $9.0m guidance), a significant improvement compared to the $0.4 million Group Adj. EBITDA loss in the Third Quarter 2021
  • U.S. revenue nearly tripled year-on-year in the nine months ended September 30, 2022

Genius Sports Limited (NYSE:GENI) (“Genius Sports” or the “Group”), the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media, today announced financial results for its fiscal third quarter ended September 30, 2022.

“We are pleased to deliver another quarter of growth and Group Adj. EBITDA profitability, and we remain on target to achieve our full-year goals set on our Investor Day at the start of 2022,” said Mark Locke, Genius Sports Co-Founder and CEO. “This year has been characterized by strong execution as we continue to deploy innovative technology, win new customers, and strengthen our key partnerships across the sports, betting, media, and broadcasting ecosystem, all with an eye towards cost discipline and profitable growth.”

$ in thousands

Q322

Q321

%

Constant currency %

Group Revenue

78,650

69,136

13.8%

27.8%

Betting Technology, Content & Services

49,156

43,644

12.6%

29.6%

Media Technology, Content & Services

17,931

13,898

29.0%

41.0%

Sports Technology & Services

11,563

11,594

(0.3%)

6.1%

Group Net loss

(8,967)

(69,977)

87.2%

86.4%

Group Net loss Margin

nm

nm nm

nm

Group Adjusted EBITDA

7,658

(392)

2,053.6%

452.3%

Group Adjusted EBITDA Margin

9.7%

nm nm

2.5%

 

$ in thousands

YTD22

YTD21

%

Constant currency %

Group Revenue

235,690

178,723

31.9%

42.6%

Betting Technology, Content & Services

143,708

123,272

16.6%

27.4%

Media Technology, Content & Services

57,059

31,261

82.5%

92.6%

Sports Technology & Services

34,923

24,190

44.4%

52.2%

Group Net loss

(53,920)

(539,463)

90.0%

89.9%

Group Net loss Margin

nm nm nm nm

Group Adjusted EBITDA

13,127

14,057

(6.6%)

18.6%

Group Adjusted EBITDA Margin

5.6%

7.9%

(2.3%)

(1.1%)

1 Guidance exchange rate assumes comparable GBP:USD exchange rate of 1.35 at time of initial forecast in January 2022

nm = not meaningful

See the full release here.