Genius Sports Group Revenue and Adj. EBITDA Beats Second Quarter 2022 Guidance

Genius Sports AuthorBy Genius Sports Press | 16 Aug 2022
Genius Sports Group Revenue and Adj. EBITDA Beats Second Quarter 2022 Guidance
  • Genius Sports beats Group Revenue and Group Adjusted EBITDA guidance for the second consecutive quarter
  • Group Revenue of $71.1m ($75.0m at guidance exchange rate1 $68.0m guidance)
  • Group Net loss of $4.8m and Group Adjusted EBITDA of $8.4m ($9.0m at guidance exchange rate1 $8.0m guidance)
  • U.S. revenue nearly quadrupled year-on-year in the six months ended June 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 2022 second quarter ended June 30, 2022.

“We remain highly focused on delivering profitable growth and have executed ahead of expectations through the first half of the year. We continue to utilize our partnerships and unique technology to yield strong results and build upon our commercial strategy,” said Mark Locke, Genius Sports Co-Founder and CEO. “We have maintained steady EBITDA profitability globally and established a leading position within the U.S., all while achieving EBITDA profitability at the group level. Genius has strong momentum and we feel confident in the continued execution of our strategic plan.”

$ in thousands Q222 Q221 % Constant currency %
Group Revenue 71,117 55,849 27.3% 42.0%
Betting Technology, Content & Services 44,831 40,673 10.2% 22.9%
Media Technology, Content & Services 14,999 7,986 87.8% 109.4%
Sports Technology & Services 11,287 7,190 57.0% 75.0%
Group Net loss (4,755) (464,164) 99.0% 98.9%
Group Net loss Margin nm nm nm nm
Group Adjusted EBITDA 8,362 5,191 61.1% 79.6%
Group Adjusted EBITDA Margin 11.8% 9.3% 2.5% 2.5%

 

$ in thousands 1H22 1H21 % Constant currency %
Group Revenue 157,040 109,587 43.3% 53.0%
Betting Technology, Content & Services 94,552 79,628 18.7% 26.8%
Media Technology, Content & Services 39,128 17,363 125.4% 140.6%
Sports Technology & Services 23,360 12,596 85.5% 98.0%
Group Net loss (44,953) (469,486) 90.4% 89.8%
Group Net loss Margin nm nm nm nm
Group Adjusted EBITDA 5,469 14,449 (62.1%) (59.6%)
Group Adjusted EBITDA Margin 3.5% 13.2% (9.7%) (9.7%)

 

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.