Genius Sports Reports Strong Second Quarter 2021 Results

Genius Sports AuthorBy Genius Sports Press | 8 Sep 2021
Genius Sports Closes Business Combination with dMY Tech Group Inc. II and Will Begin Trading on NYSE
  • Q2 revenue more than doubled year-over-year to $8m
  • Second quarter Group Adj. EBITDA up 126% year-over year to $5.2m
  • Enhanced our technological capabilities with the acquisitions of Spirable, Second Spectrum and FanHub, supporting improved long-term customer traction
  • Announced multi-year strategic partnerships with DraftKings, Caesars, WynnBET and 888 SI Sportsbook to provide our full range of official sportsbook data and content and fan engagement solutions, including a complete suite of NFL-related products
  • Raised $435 million of primary and secondary proceeds in an upsized public offering
  • Tightening 2021 Group Revenue guidance at the high end of the previous range from $250-$260m to $255-$260m and reaffirming Group Adj. EBITDA guidance of $10-$20m

 

Genius Sports Limited (NYSE:GENI) (“Genius” or “GSL”), the official data, technology and commercial partner that powers the global ecosystem connecting sports, betting and media, today announced financial results for its fiscal 2021 second quarter ended June 30, 2021.

“We’re enormously proud of our continued execution in the second quarter and our ability to implement our end-to-end solutions on behalf of our industry partners,” said Mark Locke, GSL Co-Founder and CEO. “We continue to significantly expand our leading portfolio of official rights by partnering with sports leagues and federations in key regions across the globe. Our comprehensive suite of premium content, technology services and fan engagement solutions have strengthened our commercial partnerships. Our recently announced NFL-related agreements with sportsbook operators have validated our strategy and instilled confidence in our ability to deliver results at the high end of our previous guidance for the year.”

$ in thousands Q221 Q220 % 1H21 1H20 %
Group Revenue 55,849 26,797 108.4% 109,587 62,166 76.3%
Betting Technology, Content & Services 40,673 18,352 121.6% 79,628 45,774 74.0%
Sports Technology & Services 7,190 3,506 105.1% 12,596 7,323 72.0%
Media Technology, Content & Services 7,986 4,939 61.7% 17,363 9,069 91.5%
Group Adj. EBITDA 5,191 2,292 126.5% 14,449 4,093 253.0%
Group Adj. EBITDA Margin 9.3% 8.6% 0.7% 13.2% 6.6% 6.6%

 

See the full release here.