Genius Sports Beats Second Quarter Revenue Guidance and Expects to Reaccelerate Growth with Increased 2024 Outlook
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.
Genius Sports ha riportato i risultati finanziari del secondo trimestre del 2024, superando le stime di fatturato con 95,4 milioni di dollari, in aumento del 10% rispetto all'anno precedente. L'azienda ha alzato le previsioni per il 2024, prevedendo un fatturato di 510 milioni di dollari (crescita del 23%) e un EBITDA rettificato di 85 milioni di dollari (crescita del 59%). I punti salienti includono:
- Fatturato della tecnologia di scommesse aumentato del 18% a 67,1 milioni di dollari
- Perdita netta del gruppo di 21,8 milioni di dollari
- EBITDA rettificato di 20,8 milioni di dollari, in aumento del 33% rispetto all'anno precedente
- Estensione della partnership esclusiva per i dati con Football DataCo fino al 2029
- Nominata fornitore di arbitraggio semi-automatico per la Premier League inglese
- Prevede di generare un flusso di cassa positivo nel 2024
L'azienda continua a espandere le sue partnership e le offerte tecnologiche nei settori sportivo, delle scommesse e dei media.
Genius Sports reportó los resultados financieros del segundo trimestre de 2024, superando las expectativas de ingresos con 95,4 millones de dólares, un aumento del 10% interanual. La empresa ha elevado su perspectiva para 2024, esperando ingresos de 510 millones de dólares (23% de crecimiento) y un EBITDA ajustado de 85 millones de dólares (59% de crecimiento). Los aspectos más destacados incluyen:
- Ingresos por tecnología de apuestas aumentaron un 18% a 67,1 millones de dólares
- Pérdida neta del grupo de 21,8 millones de dólares
- EBITDA ajustado de 20,8 millones de dólares, un aumento del 33% interanual
- Ampliación de la asociación exclusiva de datos con Football DataCo hasta 2029
- Nombrada como proveedor de arbitraje semi-automático de la Premier League inglesa
- Se espera generar un flujo de caja positivo en 2024
La empresa sigue expandiendo sus asociaciones y ofertas tecnológicas en los sectores de deportes, apuestas y medios.
지니어스 스포츠 (Genius Sports)는 2024년 2분기 재무 결과를 보고하며, 수익 가이드를 초과한 9,540만 달러를 기록했으며, 이는 전년 대비 10% 증가한 수치입니다. 이 회사는 2024년 전망을 상향 조정하며, 5억 1,000만 달러의 수익(23% 성장)과 8,500만 달러의 조정 후 EBITDA(59% 성장)를 기대하고 있습니다. 주요 하이라이트는 다음과 같습니다:
- 베팅 기술 수익 18% 증가하여 6,710만 달러
- 그룹 순손실 2,180만 달러
- 조정 후 EBITDA 2,080만 달러, 전년 대비 33% 증가
- 2029년까지 Football DataCo와의 독점 데이터 파트너십 연장
- 잉글리시 프리미어 리그의 반자동 심판 공급업체로 지명됨
- 2024년에 긍정적인 현금 흐름을 생성할 것으로 예상
이 회사는 스포츠, 베팅 및 미디어 분야에서 파트너십과 기술 제공을 계속 확대해 나가고 있습니다.
Genius Sports a publié ses résultats financiers pour le deuxième trimestre 2024, dépassant les prévisions de revenus avec 95,4 millions de dollars, soit une augmentation de 10 % d'une année sur l'autre. L'entreprise a relevé ses perspectives pour 2024, s'attendant à des revenus de 510 millions de dollars (23 % de croissance) et un EBITDA ajusté de 85 millions de dollars (59 % de croissance). Les points forts incluent :
- Revenus de la technologie de paris en hausse de 18 % à 67,1 millions de dollars
- Perte nette du groupe de 21,8 millions de dollars
- EBITDA ajusté de 20,8 millions de dollars, en hausse de 33 % d'une année sur l'autre
- Prolongation du partenariat exclusif de données avec Football DataCo jusqu'en 2029
- Nommé fournisseur de l'arbitrage semi-automatisé de la Premier League anglaise
- S'attend à générer un flux de trésorerie positif en 2024
L'entreprise continue d'élargir ses partenariats et ses offres technologiques dans les secteurs du sport, des paris et des médias.
Genius Sports hat die finanziellen Ergebnisse für das zweite Quartal 2024 veröffentlicht und die Umsatzprognose mit 95,4 Millionen Dollar übertroffen, was einem Anstieg von 10 % im Vergleich zum Vorjahr entspricht. Das Unternehmen hat seine Prognose für 2024 angehoben und erwartet einen Umsatz von 510 Millionen Dollar (23 % Wachstum) sowie ein angepasstes EBITDA von 85 Millionen Dollar (59 % Wachstum). Zu den wichtigsten Punkten gehören:
- Umsatz aus Wettechnologie gestiegen um 18 % auf 67,1 Millionen Dollar
- Nettverlust der Gruppe von 21,8 Millionen Dollar
- Anpassbares EBITDA von 20,8 Millionen Dollar, eine Steigerung von 33 % im Vergleich zum Vorjahr
- Verlängerung der exklusiven Datenpartnerschaft mit Football DataCo bis 2029
- Ernennung zum Lieferanten für halbautomatische Schiedsrichtertechnologie der English Premier League
- Erwartet, 2024 positiven Cashflow zu generieren
Das Unternehmen erweitert weiterhin seine Partnerschaften und Technologieangebote in den Bereichen Sport, Wetten und Medien.
- Q2 revenue of $95.4 million exceeded guidance, growing 10% year-over-year
- Betting Technology revenue increased 18% to $67.1 million
- Adjusted EBITDA grew 33% to $20.8 million with 380 bps margin expansion
- Raised 2024 guidance: Revenue to $510 million (23% growth) and Adj. EBITDA to $85 million (59% growth)
- 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
- Group Net Loss increased to $21.8 million from $10.3 million in Q2 2023
- Sports Technology & Services revenue decreased by 11% year-over-year to $10.4 million
- Media Technology, Content & Services revenue slightly decreased by 2.2% year-over-year
Insights
Genius Sports' Q2 results show positive momentum, with revenue of
The raised 2024 outlook is encouraging, projecting
Investors should monitor the company's ability to control costs and improve profitability while maintaining growth. The extension of key partnerships, like with Football DataCo, supports the long-term outlook but execution on margin improvement will be crucial.
Genius Sports is making significant strides in sports technology innovation. The launch of augmented broadcasts for the Canadian Football League and the introduction of 'Manager Mode' for Danish Cup broadcasts demonstrate the company's commitment to enhancing viewer engagement through real-time data visualization.
The agreement with UEFA to provide AI player tracking technology in over 140 stadiums is a major win, potentially setting new standards for data collection and analysis in European football. Additionally, being appointed as the Semi-Automated Officiating Supplier for the English Premier League showcases Genius Sports' growing influence in officiating technology.
The launch of Fantasy EFL, spanning 72 clubs, opens up new revenue streams and fan engagement opportunities. These developments position Genius Sports as a leader in sports tech innovation, which could drive long-term growth and partnerships across the sports industry.
-
Group Revenue of
, exceeding second quarter guidance of$95m $94m -
Group Net Loss of (
) and Group Adj. EBITDA of$22m , meeting guidance of$21m $21m -
Raised 2024 Group Revenue and Adj. EBITDA guidance to
and$510m , respectively, representing growth of$85m 23% and59% and nearly 400bps of margin expansion - Reaffirming expectation to generate positive cash flow in 2024
“This quarter validates our strategic execution as we continue to deepen our league relationships, having extended one of our key data rights agreements, expanded our technology footprint, and bolstered our product offering across the sports ecosystem,” said Mark Locke, Genius Sports Co-Founder and CEO. “We are excited for the remainder of the year and expect to reaccelerate Group Revenue growth, continue our Adj. EBITDA margin expansion and generate positive cash flow.”
$ in thousands |
Q224 |
Q223 |
% |
|||
Group Revenue |
95,447 |
86,847 |
|
|||
Betting Technology, Content & Services |
67,124 |
56,862 |
|
|||
Media Technology, Content & Services |
17,953 |
18,357 |
( |
|||
Sports Technology & Services |
10,370 |
11,628 |
( |
|||
Group Net loss |
(21,792) |
(10,298) |
( |
|||
Group Adjusted EBITDA |
20,797 |
15,650 |
|
|||
Group Adjusted EBITDA Margin |
|
|
380 bps |
|||
$ in thousands |
1H24 |
1H23 |
% |
|||
Group Revenue |
215,165 |
184,076 |
|
|||
Betting Technology, Content & Services |
141,021 |
121,602 |
|
|||
Media Technology, Content & Services |
53,428 |
40,121 |
|
|||
Sports Technology & Services |
20,716 |
22,353 |
( |
|||
Group Net loss |
(47,333) |
(35,466) |
( |
|||
Group Adjusted EBITDA |
27,675 |
23,692 |
|
|||
Group Adjusted EBITDA Margin |
|
|
- |
|||
Q2 2024 Financial Highlights
-
Group Revenue: Group revenue increased
10% year-over-year to .$95.4 million -
Betting Technology, Content & Services: Revenue increased
18% year-over-year to , driven by new customer acquisitions and growth in business with existing customers as a result of price increases on contract renewals and renegotiations.$67.1 million -
Media Technology, Content & Services: Revenue was constant year-over-year at
.$18.0 million -
Sports Technology & Services: Revenue decreased by
11% year-over-year to .$10.4 million
-
Betting Technology, Content & Services: Revenue increased
-
Group Net Loss: Group net loss was (
) in the second quarter ended June 30, 2024, compared to ($21.8 million ) in the second quarter ended June 30, 2023.$10.3 million
-
Group Adjusted EBITDA: Group Adjusted (non-GAAP) EBITDA was
in the quarter, in-line with guidance of$20.8 million . This represents a$21.0 million 33% increase compared to the reported in the second quarter ended June 30, 2023 and nearly 400 basis points of margin expansion.$15.7 million
Q2 2024 Business Highlights
- Launched augmented broadcasts of Canadian Football League matches on TSN+
- Introduced ‘Manager Mode’ for Viaplay’s Danish Cup Final broadcast, featuring real-time graphical overlays to highlight player names, movements, shot speeds, and other statistics
- Secured an agreement with the Union of European Football Associations (“UEFA”) to provide AI player tracking technology in over 140 stadiums and spanning 1,350 matches
-
After the reporting period:
- Funds advised by Apax Partners LLP fully exited their position in Genius Sports
- Genius Sports and Football DataCo finalized the agreement to extend exclusive official data partnership through 2029
- Genius Sports appointed The English Premier League’s Semi-Automated Officiating Supplier
- Launched Fantasy EFL, the EFL’s first-ever 72-club fantasy football game
- Partnered with X to launch Trend Genius product ahead of summer sporting events
Financial Outlook
Genius Sports expects to generate Group Revenue of approximately
$ in millions |
Q1 2024A |
Q2 2024A |
Q3 2024E |
Q4 2024E |
FY 2024E |
|||||
Group Revenue |
120 |
95 |
119 |
176 |
510 |
|||||
Group Adjusted EBITDA |
7 |
21 |
25 |
32 |
85 |
|||||
Financial Statements & Reconciliation Tables
Genius Sports Limited |
|||||||||||
Condensed Consolidated Statements of Operations |
|||||||||||
(Unaudited) |
|||||||||||
(Amounts in thousands, except share and per share data) |
|||||||||||
|
|
|
|
|
|
|
|
||||
|
Three Months Ended |
|
Six Months Ended |
||||||||
|
June 30, |
|
June 30, |
||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
Revenue |
$ |
95,447 |
|
$ |
86,847 |
|
$ |
215,165 |
|
$ |
184,076 |
Cost of revenue |
|
67,079 |
|
62,173 |
|
173,990 |
|
149,870 |
|||
Gross profit |
|
28,368 |
|
24,674 |
|
41,175 |
|
34,206 |
|||
Operating expenses: |
|||||||||||
Sales and marketing |
|
9,661 |
|
6,589 |
|
18,076 |
|
13,980 |
|||
Research and development |
|
7,214 |
|
5,812 |
|
13,835 |
|
12,081 |
|||
General and administrative |
|
30,867 |
|
19,618 |
|
52,452 |
|
37,692 |
|||
Transaction expenses |
|
1,628 |
|
496 |
|
2,092 |
|
1,324 |
|||
Total operating expense |
|
49,370 |
|
32,515 |
|
86,455 |
|
65,077 |
|||
Loss from operations |
|
(21,002) |
|
(7,841) |
|
(45,280) |
|
(30,871) |
|||
Interest income (expense), net |
|
348 |
|
(202) |
|
1,014 |
|
216 |
|||
Loss on disposal of assets |
|
(12) |
|
(11) |
|
(19) |
|
(22) |
|||
Loss on fair value remeasurement of contingent consideration |
|
- |
|
(376) |
|
- |
|
(2,809) |
|||
Change in fair value of derivative warrant liabilities |
|
- |
|
- |
|
- |
|
(534) |
|||
(Loss) gain on foreign currency |
|
(2,822) |
|
1,496 |
|
(3,909) |
|
2,297 |
|||
Total other (expense) income |
|
(2,486) |
|
907 |
|
(2,914) |
|
(852) |
|||
Loss before income taxes |
|
(23,488) |
|
(6,934) |
|
(48,194) |
|
(31,723) |
|||
Income tax benefit (expense) |
|
1,314 |
|
(3,952) |
|
214 |
|
(4,600) |
|||
Gain from equity method investment |
|
382 |
|
588 |
|
647 |
|
857 |
|||
Net loss |
$ |
(21,792) |
|
$ |
(10,298) |
|
$ |
(47,333) |
|
$ |
(35,466) |
Loss per share attributable to common stockholders: |
|
|
|
|
|
|
|
||||
Basic and diluted |
$ |
(0.09) |
|
$ |
(0.05) |
|
$ |
(0.21) |
|
$ |
(0.16) |
Weighted average common stock outstanding: |
|
|
|
|
|
|
|
||||
Basic and diluted |
|
229,464,001 |
|
227,005,216 |
|
229,395,387 |
|
224,370,949 |
|||
Genius Sports Limited |
|||||
Condensed Consolidated Balance Sheets |
|||||
(Amounts in thousands, except share and per share data) |
|||||
|
|
|
|
||
|
(Unaudited) |
|
|
||
|
June 30 |
|
December 31 |
||
|
2024 |
|
2023 |
||
ASSETS |
|
|
|
||
Current assets: |
|
|
|
||
Cash and cash equivalents |
$ |
67,718 |
|
$ |
100,331 |
Restricted cash, current |
|
25,299 |
|
- |
|
Accounts receivable, net |
|
63,167 |
|
71,088 |
|
Contract assets |
|
26,407 |
|
38,802 |
|
Prepaid expenses |
|
24,793 |
|
27,231 |
|
Other current assets |
|
15,149 |
|
7,329 |
|
Total current assets |
|
222,533 |
|
244,781 |
|
Property and equipment, net |
|
13,731 |
|
11,552 |
|
Intangible assets, net |
|
114,483 |
|
129,670 |
|
Operating lease right of use assets |
|
6,901 |
|
7,011 |
|
Goodwill |
|
326,011 |
|
326,011 |
|
Investments |
|
28,886 |
|
26,399 |
|
Restricted cash, non-current |
|
- |
|
25,462 |
|
Other assets |
|
3,443 |
|
4,838 |
|
Total assets |
$ |
715,988 |
|
$ |
775,724 |
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
||
Current liabilities: |
|
|
|
||
Accounts payable |
$ |
39,462 |
|
$ |
57,379 |
Accrued expenses |
|
51,463 |
|
56,331 |
|
Deferred revenue |
|
39,200 |
|
44,345 |
|
Current debt |
|
22 |
|
7,573 |
|
Operating lease liabilities, current |
|
3,282 |
|
3,610 |
|
Other current liabilities |
|
11,092 |
|
13,676 |
|
Total current liabilities |
|
144,521 |
|
182,914 |
|
Long-term debt – less current portion |
|
9 |
|
19 |
|
Deferred tax liability |
|
15,320 |
|
15,335 |
|
Operating lease liabilities, non-current |
|
3,752 |
|
3,501 |
|
Other liabilities |
|
- |
|
936 |
|
Total liabilities |
|
163,602 |
|
202,705 |
|
Shareholders' equity |
|||||
Common stock, |
|
2,151 |
|
2,132 |
|
B Shares, |
|
2 |
|
2 |
|
Additional paid-in capital |
|
1,669,875 |
|
1,646,082 |
|
Treasury stock, at cost, 4,105,948 shares at June 30, 2024 and December 31, 2023 |
|
(17,653) |
|
(17,653) |
|
Accumulated deficit |
|
(1,071,820) |
|
(1,024,487) |
|
Accumulated other comprehensive loss |
|
(30,169) |
|
(33,057) |
|
Total shareholders' equity |
|
552,386 |
|
573,019 |
|
Total liabilities and shareholders' equity |
$ |
715,988 |
|
$ |
775,724 |
Genius Sports Limited |
||||||
Condensed Consolidated Statements of Cash Flows |
||||||
(Unaudited) |
||||||
(Amounts in thousands) |
||||||
|
|
Six Months Ended
|
||||
|
|
|||||
|
|
2024 |
|
2023 |
||
Cash Flows from operating activities: |
|
|
|
|
||
Net loss |
|
$ |
(47,333) |
|
$ |
(35,466) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
||
Depreciation and amortization |
|
|
41,877 |
|
35,032 |
|
Loss on disposal of assets |
|
|
19 |
|
22 |
|
Loss on fair value remeasurement of contingent consideration |
|
|
- |
|
2,809 |
|
Stock-based compensation |
|
|
23,938 |
|
14,185 |
|
Change in fair value of derivative warrant liabilities |
|
|
- |
|
534 |
|
Non-cash interest expense, net |
|
|
- |
|
170 |
|
Non-cash lease expense |
|
|
1,889 |
|
1,955 |
|
Amortization of contract cost |
|
|
599 |
|
473 |
|
Deferred income taxes |
|
|
- |
|
47 |
|
Allowance for expected credit losses |
|
|
(411) |
|
250 |
|
Gain from equity method investment |
|
|
(647) |
|
(857) |
|
Loss (gain) on foreign currency remeasurement |
|
|
3,889 |
|
(2,228) |
|
Changes in operating assets and liabilities |
|
|||||
Accounts receivable |
|
|
2,159 |
|
(24,746) |
|
Contract asset |
|
|
12,395 |
|
3,125 |
|
Prepaid expenses |
|
|
2,438 |
|
(3,070) |
|
Other current assets |
|
|
(6,318) |
|
911 |
|
Other assets |
|
|
(755) |
|
488 |
|
Accounts payable |
|
|
(17,917) |
|
(10,843) |
|
Accrued expenses |
|
|
(4,868) |
|
35 |
|
Deferred revenue |
|
|
(6,584) |
|
(1,600) |
|
Other current liabilities |
|
|
(3,643) |
|
(1,887) |
|
Operating lease liabilities |
|
|
(1,911) |
|
(2,049) |
|
Net cash used in operating activities |
|
|
(1,184) |
|
(22,710) |
|
Cash flows from investing activities: |
|
|||||
Purchases of property and equipment |
|
|
(4,594) |
|
(1,002) |
|
Capitalization of internally developed software costs |
|
|
(23,856) |
|
(21,232) |
|
Distributions from equity method investments |
|
|
1,561 |
|
1,555 |
|
Purchases of intangible assets |
|
|
- |
|
(238) |
|
Proceeds from disposal of assets |
|
|
- |
|
30 |
|
Net cash used in investing activities |
|
|
(26,889) |
|
(20,887) |
|
Cash flows from financing activities: |
|
|||||
Repayment of loans and mortgage |
|
|
(9) |
|
(10) |
|
Proceeds from exercise of Public Warrants |
|
|
- |
|
6,812 |
|
Repayment of promissory notes |
|
|
(7,575) |
|
(7,387) |
|
Net cash used in financing activities |
|
|
(7,584) |
|
(585) |
|
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
|
2,881 |
|
322 |
|
Net decrease in cash, cash equivalents and restricted cash |
|
|
(32,776) |
|
(43,860) |
|
Cash, cash equivalents and restricted cash at beginning of period |
|
|
125,793 |
|
159,020 |
|
Cash, cash equivalents and restricted cash at end of period |
|
$ |
93,017 |
|
$ |
115,160 |
Supplemental disclosure of cash activities: |
|
|
|
|
||
Cash paid during the period for interest |
|
$ |
178 |
|
$ |
1 |
Cash paid during the period for income taxes |
|
$ |
715 |
|
$ |
2,781 |
Supplemental disclosure of noncash investing and financing activities: |
|
|
|
|
||
Acquisition of common shares by subsidiary in connection with warrant redemptions |
|
$ |
- |
|
$ |
17,653 |
Issuance of common stock in connection with business combinations |
|
$ |
- |
|
$ |
10,157 |
Genius Sports Limited |
|||||||||
Reconciliation of (Unaudited) |
|||||||||
(Amounts in thousands) |
|||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||
|
2024 |
2023 |
|
2024 |
2023 |
||||
|
(dollars, in thousands) |
|
(dollars, in thousands) |
||||||
Consolidated net loss |
$ |
(21,792) |
$ |
(10,298) |
|
$ |
(47,333) |
$ |
(35,466) |
Adjusted for: |
|
|
|
|
|
||||
Interest (income) expense, net |
|
(348) |
|
202 |
|
(1,014) |
|
(216) |
|
Income tax (benefit) expense |
|
(1,314) |
|
3,952 |
|
(214) |
|
4,600 |
|
Amortization of acquired intangibles (1) |
|
9,024 |
|
10,117 |
|
19,228 |
|
19,850 |
|
Other depreciation and amortization (2) |
|
12,022 |
|
7,854 |
|
23,248 |
|
15,655 |
|
Stock-based compensation (3) |
|
17,568 |
|
3,624 |
|
25,237 |
|
14,329 |
|
Transaction expenses |
|
1,628 |
|
496 |
|
2,092 |
|
1,324 |
|
Litigation and related costs (4) |
|
1,149 |
|
608 |
|
2,348 |
|
1,392 |
|
Change in fair value of derivative warrant liabilities |
|
- |
|
- |
|
- |
|
534 |
|
Loss on fair value remeasurement of contingent consideration |
|
- |
|
376 |
|
- |
|
2,809 |
|
Loss (gain) on foreign currency |
|
2,822 |
|
(1,496) |
|
3,909 |
|
(2,297) |
|
Other (5) |
|
38 |
|
215 |
|
174 |
|
1,178 |
|
Adjusted EBITDA |
$ |
20,797 |
$ |
15,650 |
|
$ |
27,675 |
$ |
23,692 |
(1) Includes amortization of intangible assets generated through business acquisitions (inclusive of amortization for marketing products, acquired technology, and historical data rights related to the acquisition of a majority interest in Genius in 2018). |
|||||||||
(2) Includes depreciation of Genius' property and equipment, amortization of contract costs, and amortization of internally developed software and other intangible assets. Excludes amortization of intangible assets generated through business acquisitions. |
|||||||||
(3) Includes restricted shares, stock options, equity-settled restricted share units, cash-settled restricted share units and equity-settled performance-based restricted share units granted to employees and directors (including related employer payroll taxes) and equity-classified non-employee awards issued to suppliers. |
|||||||||
(4) Includes mainly legal and related costs in connection with non-routine litigation. |
|||||||||
(5) Includes expenses incurred related to earn-out payments on historical acquisitions, gain/loss on disposal of assets, severance costs and non-recurring compensation payments. |
Webcast and Conference Call Details
Genius Sports management will host a conference call and webcast today at 8:00AM ET to discuss the Group’s second quarter results.
The live conference call and webcast may be accessed on Genius Sports’ investor relations website at investors.geniussports.com along with Genius’ earnings press release and related materials. A replay of the webcast will be available on the website within 24 hours after the call.
About Genius Sports
Genius Sports is the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media. Our technology is used in over 150 countries worldwide, creating highly immersive products that enrich fan experiences for the entire sports industry.
We are the trusted partner to over 400 sports organizations, including many of the world’s largest leagues and federations such as the NFL, EPL, FIBA, NCAA, NASCAR, AFA and Liga MX.
Genius Sports is uniquely positioned through cutting-edge technology, scale and global reach to support our partners. Our innovative use of big data, computer vision, machine learning, and augmented reality, connects the entire sports ecosystem from the rights holder all the way through to the fan.
Non-GAAP Financial Measures
This press release includes non-GAAP financial measures not presented in accordance with
Adjusted EBITDA
We present Group adjusted EBITDA and Group adjusted EBITDA margin, non-GAAP performance measures, to supplement our results presented in accordance with
Group adjusted EBITDA and Group adjusted EBITDA margin are used by management to evaluate our core operating performance on a comparable basis and to make strategic decisions. We believe Group adjusted EBITDA and Group adjusted EBITDA margin are useful to investors for the same reasons as well as in evaluating our operating performance against competitors, which commonly disclose similar performance measures. However, our calculation of Group adjusted EBITDA and Group adjusted EBITDA margin may not be comparable to other similarly titled performance measures of other companies. Group adjusted EBITDA and Group adjusted EBITDA margin are not intended to be a substitute for any
We do not provide a reconciliation of Group adjusted EBITDA to consolidated net income/(loss) on a forward-looking basis because we are unable to forecast certain items required to develop meaningful comparable GAAP financial measures without unreasonable efforts. These items are difficult to predict and estimate and are primarily dependent on future events. The impact of these items could be significant to our projections.
Forward-Looking Statements
This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. All statements other than statements of historical facts are forward-looking statements. These forward-looking statements include information about our possible or assumed future results of operations or our performance. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “estimates,” and variations of such words and similar expressions are intended to identify such forward looking statements. Although we believe that the forward-looking statements contained in this press release are based on reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in such forward-looking statements, including but not limited to: risks related to our reliance on relationships with sports organizations and the potential loss of such relationships or failure to renew or expand existing relationships; fraud, corruption or negligence related to sports events, or by our employees or contracted statisticians; risks related to changes in domestic and foreign laws and regulations or their interpretation; compliance with applicable data protection and privacy laws; pending litigation and investigations; the failure to protect or enforce our proprietary and intellectual property rights; claims for intellectual property infringement; our reliance on information technology; elevated interest rates and inflationary pressures, including fluctuating foreign currency and exchange rates; risks related to domestic and international political and macroeconomic uncertainty; and other factors included under the heading “Risk Factors” in our Annual Report on Form 20-F filed with the SEC on March 15, 2024.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although we believe that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements contained in this press release, or the documents to which we refer readers in this press release, to reflect any change in our expectations with respect to such statements or any change in events, conditions or circumstances upon which any statement is based.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240806377603/en/
Media
Chris Dougan, Chief Communications Officer
+1 (202) 766-4430
chris.dougan@geniussports.com
Investors
Brandon Bukstel, Investor Relations Manager
+1 (954)-554-7932
brandon.bukstel@geniussports.com
Source: Genius Sports
FAQ
What was Genius Sports' (GENI) revenue for Q2 2024?
How much did Genius Sports' (GENI) Betting Technology revenue grow in Q2 2024?
What is Genius Sports' (GENI) revenue guidance for full-year 2024?
Did Genius Sports (GENI) extend its partnership with Football DataCo in 2024?