Welcome to our dedicated page for Genius Sports news (Ticker: GENI), a resource for investors and traders seeking the latest updates and insights on Genius Sports stock.
Genius Sports Limited (GENI) is a London-headquartered company at the forefront of sports technology, established in 2001. With offices spanning across New York, Singapore, Tallinn, and more, Genius Sports is a global powerhouse in the sports, betting, and media industries. The company specializes in providing scalable, technology-driven products and services, which are essential for data collection, management, and utilization in sports.
Genius Sports operates through three key product areas: Sports Technology and Services, Betting Technology, Content and Services, and Media Technology, Content and Services. Their products leverage proprietary technology and a robust data infrastructure, making them a preferred partner for sports leagues, sportsbooks, and media brands worldwide.
The company's technology enhances fan engagement by delivering real-time, accurate data that power interactive and immersive experiences. Notably, the majority of their revenue is generated from the Betting Technology, Content and Services division, with Europe being their primary market. Recent achievements include expanding their partnership network, enhancing their technological capabilities, and increasing their footprint in key markets.
For clubs and leagues, Genius Sports offers advanced tools to capture and manage data, which is vital for improving operational efficiency and fan engagement. Sportsbooks benefit from their comprehensive suite of betting technology solutions that ensure reliable, real-time data delivery, crucial for live betting operations. Media partners utilize Genius Sports' data to create compelling content that captivates and retains audiences.
Overall, Genius Sports Limited stands out for its ability to transform raw sports data into valuable insights and interactive experiences, making it a significant player in the global sports ecosystem.
Genius Sports (NYSE:GENI) reported strong Q3 2024 results with revenue of $120.2 million, up 18.2% year-over-year, exceeding guidance of $119m. The company achieved Group Net Income of $12.5 million and Adjusted EBITDA of $25.7 million, up 45.2% year-over-year. Betting Technology segment revenue grew 29.9% to $85.6 million, while Media and Sports Technology segments saw slight declines. The company raised its 2024 guidance, projecting full-year revenue of $511 million and Adjusted EBITDA of $86 million, representing growth of 24% and 61% respectively. Genius Sports also secured improved commercial terms with major U.S. sportsbook customers.
Genius Sports (NYSE:GENI) has announced its schedule for releasing third quarter 2024 results. The company will publish its financial report before 8:00 AM ET on Tuesday, November 12, 2024. Following the release, Genius Sports will host a conference call at 8:00 AM ET on the same day to discuss the results in detail.
Investors and interested parties can access the earnings press release and related materials on the company's investor relations website at investors.geniussports.com. The website will also provide a live audio webcast of the conference call and Q&A session. For those unable to attend the live event, a replay of the webcast will be made available on the website within 24 hours after the call concludes.
Genius Sports (NYSE:GENI) has launched FANHub, the world's first omnichannel marketing platform designed specifically for reaching and engaging sports fans. This innovative platform combines programmatic and social media buying capabilities with a sports-first approach, leveraging Genius Sports' extensive experience in data collection, curation, and activation.
FANHub offers marketers a user-friendly platform with several key features:
- Fan-First Audiences: Integration of 1st-party data and proprietary audiences
- Curated and Exclusive Premium Inventory: High-quality, brand-safe media across various channels
- Bidding & Insights: Real-time reporting and strategies based on audience datasets and live game-time data
- Dynamic Creative Optimization: Scalable campaigns with instant integration of play-by-play data and fan preferences
The platform aims to address the challenges of reaching highly engaged sports audiences across multiple channels and formats, enabling marketers to create sophisticated sports-based media strategies and manage the full-funnel fan journey.
Genius Sports (NYSE:GENI) has announced the appointment of Robert J. (Robbie) Bach to its Board of Directors, effective October 1, 2024. Bach, former Chief Xbox Officer and President of Microsoft's Entertainment & Devices Division, brings extensive experience in creating groundbreaking entertainment platforms. His leadership at Microsoft drove the launch of Xbox, Xbox Live, and Xbox 360, establishing the company as a leader in the gaming sector. Bach also led the evolution of gaming consoles into multimedia hubs and oversaw the launch of products like Zune and Windows Phone.
Bach's expertise in technology, strategic partnerships, and consumer engagement is expected to support Genius Sports' mission to revolutionize sports understanding, consumption, and fan experience. His appointment is aimed at accelerating the company's efforts in developing next-generation sports data and AI platforms, such as GeniusIQ.
Genius Sports (NYSE:GENI) has appointed Mark Kropf as its new Group Chief Technology Officer. Kropf joins from Google, where he was Technical Director in the Office of the CTO, focusing on generative AI capabilities. His expertise will be important for expanding GeniusIQ, Genius Sports' next-generation sports data and AI platform.
Kropf brings over 20 years of experience in technology leadership, software engineering, and infrastructure management across various sectors. He previously played a key role in commercializing Cloud Foundry at Pivotal and holds numerous patents in enterprise software and financial services technology.
CEO Mark Locke expressed enthusiasm about Kropf's appointment, highlighting his track record in technology leadership and AI-focused innovation. Kropf stated his excitement to support Genius Sports' growth and work with the team at the forefront of data and technology innovation in sport.
Genius Sports (NYSE:GENI) has officially addressed recent media speculation regarding a potential acquisition of Kambi Group plc. In a statement, CEO Mark Locke firmly denied any ongoing discussions with Kambi, stating: 'As policy, we do not comment on unfounded and ill-informed rumours. To prevent any further speculation, we can confirm that we are not involved in any discussions of this nature with Kambi.' This declaration aims to put an end to circulating rumors and provide clarity to investors and the market about Genius Sports' current strategic position.
Genius Sports (NYSE:GENI) has been appointed as the Premier League's Semi-Automated Officiating supplier, set to revolutionize offside decision-making in the world's most-watched football league. The system, powered by Genius Sports' AI and data platform GeniusIQ, will be installed in every Premier League stadium for the 2024/25 season. Key features include:
- AI-generated digital twin for quick and precise offside decisions
- Minimized game interruptions with live decision-making
- Broadcast-ready graphics for enhanced viewer experience
- 3D renders of players, ball, and offside wall generated in seconds
This partnership builds on Genius Sports' existing role as the Premier League's long-term optical tracking partner, with its AI-powered data and services already used by all 20 teams.
Genius Sports (NYSE:GENI), a leading provider of official data, technology, and broadcast solutions for the sports, betting, and media industries, has announced its participation in eight upcoming investor conferences from August to November 2024. These events include:
- Oppenheimer's 27th Annual Technology, Internet & Communications Conference (Aug 12-14)
- Benchmark's Tech, Media & Telecom Conference (Sept 4)
- BofA's Gaming and Lodging Conference (Sept 5)
- Citi's Global TMT Conference (Sept 6)
- BTIG GameDay 2024 (Sept 10)
- Goldman Sachs Communacopia + Technology Conference (Sept 11)
- B. Riley Securities' Consumer & TMT Conference (Sept 12)
- Cantor's European TMT Conference (Oct 30 - Nov 1)
CFO Nick Taylor and CEO Mark Locke will participate in breakout sessions at select conferences. Live webcasts and replays of available sessions can be accessed at investors.geniussports.com.
Genius Sports (NYSE:GENI) has announced the launch of GeniusIQ, a next-generation data and AI platform aimed at revolutionizing sports analysis and fan engagement. The platform utilizes machine learning and generative AI on vast datasets to provide advanced game analysis, immersive experiences, and enhanced fan engagement. Key applications include digital sports transformation, AI-driven decision making, personalized viewing, and automated content creation. GeniusIQ is already driving applications in major leagues like the Premier League, NFL, NBA, and WNBA, enhancing performance analytics and fan experiences. The platform integrates cutting-edge technologies such as optical tracking and real-time data insights, with prominent use cases like the WNBA performance metrics and Premier League Data Zone. The launch also marks the full incorporation of Second Spectrum into Genius Sports' portfolio.
Genius Sports reported Q2 2024 financial results, beating revenue guidance with $95.4 million, up 10% year-over-year. The company raised its 2024 outlook, expecting revenue of $510 million (23% growth) and Adjusted EBITDA of $85 million (59% growth). Key highlights include:
- Betting Technology revenue up 18% to $67.1 million
- Group Net Loss of $21.8 million
- Adjusted EBITDA of $20.8 million, up 33% year-over-year
- Extended exclusive data partnership with Football DataCo through 2029
- Appointed as English Premier League's Semi-Automated Officiating Supplier
- Expects to generate positive cash flow in 2024
The company continues to expand its partnerships and technology offerings across sports, betting, and media sectors.
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