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Genius Sports Reaffirms 2024 Guidance and Announces Preliminary Unaudited Estimate of Fourth Quarter Cash, a Positive Net Cash Position in the Full-Year 2024

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Genius Sports (NYSE: GENI) has reaffirmed its 2024 financial guidance, maintaining its projected Group Revenue of $511 million and Group Adjusted EBITDA of $86 million. The company also disclosed its preliminary unaudited estimate of cash, cash equivalents, and restricted cash, which is expected to reach approximately $135 million by December 31, 2024. This represents a significant increase from $69 million as of September 30, 2024, and $126 million as of December 31, 2023. The company confirms it will maintain a positive net cash position throughout 2024, aligning with previously disclosed guidance.

Genius Sports (NYSE: GENI) ha riconfermato le sue previsioni finanziarie per il 2024, mantenendo il suo obiettivo di entrate del Gruppo di 511 milioni di dollari e un EBITDA adjusted del Gruppo di 86 milioni di dollari. L'azienda ha anche rivelato la sua stima preliminare non auditata di liquidità, equivalenti in contante e liquidità vincolata, che dovrebbe raggiungere circa 135 milioni di dollari entro il 31 dicembre 2024. Questo rappresenta un aumento significativo rispetto ai 69 milioni di dollari al 30 settembre 2024 e ai 126 milioni di dollari al 31 dicembre 2023. L'azienda conferma che manterrà una posizione netta di liquidità positiva per tutto il 2024, in linea con le previsioni precedentemente comunicate.

Genius Sports (NYSE: GENI) ha reafirmado su guía financiera para 2024, manteniendo su proyección de ingresos del Grupo de 511 millones de dólares y EBITDA ajustado del Grupo de 86 millones de dólares. La compañía también divulgó su estimación preliminar no auditada de efectivo, equivalentes de efectivo y efectivo restringido, que se espera que alcance aproximadamente 135 millones de dólares para el 31 de diciembre de 2024. Esto representa un aumento significativo desde 69 millones de dólares al 30 de septiembre de 2024, y 126 millones de dólares al 31 de diciembre de 2023. La compañía confirma que mantendrá una posición de efectivo neto positiva a lo largo de 2024, alineándose con la guía previamente divulgada.

지니어스 스포츠 (NYSE: GENI)는 2024년 재무 전망을 재확인하며, 그룹 수익 5억 1,100만 달러조정된 그룹 EBITDA 8,600만 달러를 유지한다고 밝혔습니다. 회사는 2024년 12월 31일까지 약 1억 3,500만 달러에 이를 것으로 예상되는 현금, 현금성 자산 및 제한된 현금의 잠정적인 감사되지 않은 추정치를 공개했습니다. 이는 2024년 9월 30일 기준으로 6,900만 달러 및 2023년 12월 31일 기준으로 1억 2,600만 달러로부터 유의미한 증가를 나타냅니다. 회사는 2024년 내내 긍정적인 순 현금 지위를 유지할 것이라고 확인하며, 이전에 공시한 지침과 일치한다고 밝혔습니다.

Genius Sports (NYSE: GENI) a réaffirmé ses prévisions financières pour 2024, maintenant son objectif de revenu de Groupe de 511 millions de dollars et un EBITDA ajusté de Groupe de 86 millions de dollars. L'entreprise a également divulgué son estimation préliminaire non auditée de liquidités, d'équivalents de liquidités et de liquidités restreintes, qui devrait atteindre environ 135 millions de dollars d'ici le 31 décembre 2024. Cela représente une augmentation significative par rapport à 69 millions de dollars au 30 septembre 2024 et 126 millions de dollars au 31 décembre 2023. L'entreprise confirme qu'elle maintiendra une position de liquidités nettes positives tout au long de l'année 2024, conformément aux prévisions communiquées précédemment.

Genius Sports (NYSE: GENI) hat seine Finanzprognose für 2024 erneut bekräftigt und sein Ziel von Gruppenerlösen in Höhe von 511 Millionen US-Dollar sowie bereinigtem EBITDA der Gruppe in Höhe von 86 Millionen US-Dollar aufrechterhalten. Das Unternehmen veröffentlichte ebenfalls seine vorläufige, nicht testierte Schätzung von Bargeld, Zahlungsmitteln und eingeschränktem Bargeld, das bis zum 31. Dezember 2024 voraussichtlich etwa 135 Millionen US-Dollar erreichen wird. Dies stellt einen signifikanten Anstieg gegenüber 69 Millionen US-Dollar am 30. September 2024 und 126 Millionen US-Dollar am 31. Dezember 2023 dar. Das Unternehmen bestätigt, dass es im gesamten Jahr 2024 eine positive Netto-Cash-Position beibehalten wird, was mit den zuvor veröffentlichten Vorgaben übereinstimmt.

Positive
  • Projected Group Revenue of $511 million for 2024
  • Expected Group Adjusted EBITDA of $86 million for 2024
  • Cash position expected to increase to $135 million by end of 2024, up from $69 million in Q3 2024
  • Positive net cash position anticipated for full-year 2024
Negative
  • None.

Insights

The reaffirmation of $511 million revenue and $86 million Adjusted EBITDA guidance for 2024 demonstrates GENI's confidence in their business trajectory. The most striking revelation is the substantial improvement in cash position, nearly doubling from $69 million in Q3 to approximately $135 million by year-end. This 95.7% quarter-over-quarter increase in cash reserves suggests robust cash flow generation and improved operational efficiency.

The positive net cash position achieved in 2024 marks a pivotal shift in GENI's financial health, particularly noteworthy in the capital-intensive sports data and technology sector. The year-over-year cash growth from $126 million to $135 million (7.1% increase) indicates sustainable cash generation capabilities, strengthening the company's ability to fund growth initiatives without relying heavily on external financing.

The sports betting data market's competitive landscape makes GENI's cash position particularly strategic. The $135 million cash reserve provides a substantial competitive moat, enabling quick responses to market opportunities and potential strategic acquisitions. The positive net cash position is especially valuable given the ongoing consolidation in the sports technology sector and the increasing demand for real-time sports data solutions.

The maintained guidance suggests market share stability despite competitive pressures. For context, the projected $511 million revenue represents significant scale in the sports data analytics market, where barriers to entry are high due to the need for extensive partnerships with sports leagues and betting operators. The $86 million Adjusted EBITDA guidance implies a healthy 16.8% margin, reflecting operational leverage in their business model.

LONDON & NEW YORK--(BUSINESS WIRE)-- Genius Sports Limited (NYSE: GENI) (“Genius Sports,” the “Company,” “we” or “our”) announced today that it is reaffirming its previously disclosed 2024 guidance of Group Revenue of approximately $511 million and Group Adjusted EBITDA of approximately $86 million. Additionally, the Company reported its preliminary unaudited estimate of cash, cash equivalents and restricted cash as of December 31, 2024 of approximately $135 million, which is expected to be up from $69 million as of September 30, 2024 and up from $126 million as of December 31, 2023. This equates to a positive net cash position for 2024 as previously disclosed as part of our 2024 guidance.

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 a non-GAAP financial measure not presented in accordance with U.S. GAAP.

Adjusted EBITDA

We present Group adjusted EBITDA, a non-GAAP performance measure, to supplement our results presented in accordance with U.S. GAAP. Group Adjusted EBITDA is defined as earnings before interest, income tax, depreciation and amortization and other items that are unusual or not related to the Company’s revenue-generating operations, including stock-based compensation expense (including related employer payroll taxes), litigation and related costs, transaction expenses and gain or loss on foreign currency.

Group Adjusted EBITDA is used by management to evaluate the Company’s core operating performance on a comparable basis and to make strategic decisions. The Company believes Group Adjusted EBITDA is useful to investors for the same reasons as well as in evaluating the Company’s operating performance against competitors, which commonly disclose similar performance measures. However, the Company’s 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 US GAAP financial measure.

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.

Preliminary Estimates

This press release includes our preliminary estimate of cash, cash equivalents and restricted cash as of December 31, 2024 for which consolidated financial statements are not available. Our actual cash, cash equivalents and restricted cash results will be subject to the completion of our quarter-end and year-end closing process, which includes review by management and our board of directors, including our audit committee. While carrying out such procedures, we may identify items that require us to make adjustments to the preliminary estimate set forth in this press release. In addition, other developments may arise between the date of this press release and the dates that we announce fourth quarter and year ended December 31, 2024 results, which may cause our actual results to be different than the preliminary estimate set forth in this press release. There can be no assurance that our final results will not differ from this estimate, which are forward-looking and based only on currently available information as of the date hereof. See the section titled “Forward-Looking Statements” for additional information regarding factors that could result in differences between the preliminary estimate set forth above and the actual financial results we will report. Therefore, you should not place undue reliance on the preliminary estimate set forth in this press release nor should you view this preliminary estimate as a substitute for our audited financial statements for the year ended December 31, 2024. Our independent registered public accounting firm, WithumSmith+Brown, PC, has not audited, reviewed, compiled or performed any procedures on this preliminary financial data, and accordingly, does not express an opinion or other form of assurance with respect to this preliminary financial data.

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,” “estimates,” “guidance,” “believes,” “anticipates,” “estimates,” and variations of such words and similar expressions are intended to identify such forward looking statements. Forward-looking statements in this press release may include, for example, our 2024 guidance, and our preliminary estimate of our cash, cash equivalents and restricted cash as of December 31, 2024. Although the Company believes 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 additional procedures the Company will undertake to finalize its results for the fourth quarter of 2024 that could result in changes to the Company’s results for the fourth quarter and year ended December 31, 2024 results; 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.

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 is Genius Sports' (GENI) projected revenue for 2024?

Genius Sports has reaffirmed its 2024 guidance with projected Group Revenue of approximately $511 million.

What is GENI's expected Adjusted EBITDA for 2024?

Genius Sports expects Group Adjusted EBITDA of approximately $86 million for 2024.

How much cash does Genius Sports (GENI) expect to have by the end of 2024?

Genius Sports expects to have approximately $135 million in cash, cash equivalents, and restricted cash by December 31, 2024.

How has GENI's cash position changed from Q3 2024 to Q4 2024?

Genius Sports' cash position is expected to increase from $69 million in Q3 2024 to approximately $135 million by the end of Q4 2024.

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