Genius Sports Hosts its First Virtual Investor Day; Provides Business Overview Deep Dive and Expectations for Group Adj. EBITDA Profitability in 2022 and 2023
Genius Sports Limited (NYSE: GENI) announced its financial outlook for 2022 and 2023. The company expects approximately
- Expected Group Revenue growth from
$340 million in 2022 to$430-$440 million in 2023. - Projected increase in Group Adj. EBITDA from
$15 million in 2022 to$40 million-$50 million in 2023. - Promising growth opportunities in the US market with expected profitability by 2024.
- None.
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Announces 2022 financial outlook of approximately
in Group Revenue and$340 million in Group Adj. EBITDA$15 million -
Expects 2023 Group Revenue and Group Adj. EBITDA in the range of
to$430 and$440 million to$40 , respectively$50 million
“Genius is the key link between leagues, sportsbooks, media outlets, advertisers, and ultimately, fans. Our best-in-class data collection technology is used around the clock and around the globe, powering the high-growth global sports ecosystem. It is difficult to imagine this industry operating efficiently without the mission critical data and technology solutions we provide,” said
“We have a clear plan in place to build on this strong foundation and drive profitability for
Key Takeaways
During the event, management will detail how Genius will deliver near, medium, and long-term growth and profitability:
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Genius expects to achieve Group Adj. EBITDA profitability in 2022 and 2023 of
and$15 million to$40 , respectively, with continued profitability growth thereafter$50 million -
The original business1 is already delivering Adj. EBITDA margins of approximately
20% - The US business is a key area of investment with strong growth opportunity and expected profitability by 2024 on an Adj. EBITDA basis
- Genius’ acquisition strategy has strengthened its technology platform and unlocked exciting opportunities for long-term growth and scale
- Deeply integrated partnerships position Genius at the heart of the ecosystem with strategic competitive advantages via its differentiated technology
-
The
NFL partnership is strategically important for Genius to create value across the entire organization
Financial Outlook
In 2022, the company expects to generate Group Revenue of approximately
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Betting Technology, Content & Services |
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Sports Technology & Services |
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Media Technology, Content & Services |
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Webcast Information
Genius Sports’ Investor Day presentation can be accessed on the Company’s investor relations website at investors.geniussports.com beginning at
About
We are the trusted partner to over 400 sports organizations globally, including many of the world’s largest leagues and federations such as the
Non-GAAP Financial Measures
This press release includes non-GAAP financial measures not presented in accordance with
Adjusted EBITDA
We present Group adjusted EBITDA, a non-GAAP performance measure, to supplement our results presented in accordance with
Group adjusted EBITDA is used by management to evaluate our core operating performance on a comparable basis and to make strategic decisions. We believe Group adjusted EBITDA is 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 may not be comparable to other similarly titled performance measures of other companies. Group adjusted EBITDA is 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: the effect of COVID-19 on our business, 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; risks related to our ability to achieve the anticipated benefits from the business combination with dMY
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statements contained herein, 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.
Notes
1. Original Businesses defined as pre-existing operations prior to public listing, as described in
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220127005534/en/
Media
+1 (202) 766-4430
chris.dougan@geniussports.com
+44 788 41 36143 / +1 (917) 885-9704
charlie.harrison@the193.com / Katherine.kremer@the193.com
Investors
+1 (954)-554-7932
brandon.bukstel@geniussports.com
Source:
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