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 reported first-quarter results that surpassed expectations, with Group Revenue at $120 million, a Net Loss of ($26 million), and Group Adj. EBITDA of $7 million. The company raised its 2024 Group Revenue and Adj. EBITDA guidance to $500 million and $82 million, respectively, up from prior guidance of $480 million and $75 million. Genius Sports also increased financial flexibility by entering into a $90 million revolving credit facility with Citibank and Deutsche Bank.
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