Genius Sports Limited - GENI STOCK NEWS

Genius Sports Limited (NYSE:GENI) has filed its Annual Report on Form 20-F with the Securities and Exchange Commission for the fiscal year ended December 31, 2022. The report can be accessed on the Company’s Investor Relations website or the SEC’s site. Shareholders can request a hard copy of the report, which includes audited financial statements, free of charge via the Investor & Media Contacts page.

Genius Sports is a leading data, technology, and broadcast partner that connects sports, betting, and media across over 150 countries. The company supports over 400 sports organizations, including major leagues like the NFL and EPL, through innovative technology that enriches fan experiences.

Genius Sports Limited (NYSE:GENI) recently showcased its Second Spectrum technology during a demonstration featuring its management team including CEO Mark Locke and other notable executives. The technology aims to enhance the connection between sports, betting, and media, emphasizing immersive fan experiences. Genius Sports collaborates with over 400 sports organizations globally, including major leagues like the NFL and EPL, leveraging advanced technology such as big data and machine learning to enrich the sports ecosystem. A replay of the demonstration is available on their Investor Relations website.

Genius Sports Limited (NYSE:GENI) reported Group Revenue of $341 million for the year ending December 31, 2022, exceeding guidance of $340 million, representing a 41% growth at constant currency. The Group Net Loss decreased to $182 million, a 69% improvement from the previous year. The Group Adjusted EBITDA was $16 million, outperforming guidance by 29%. U.S. revenue more than doubled, driven by increased market liberalization. For 2023, the company anticipates a Group Revenue of $391 million and Adjusted EBITDA of $41 million, aligned with consensus estimates. A positive cash flow is expected in H2 2023.

Second Spectrum, a Genius Sports company (NYSE:GENI), has expanded its partnership with the NBA, becoming an Official NBA League Pass Augmentation Provider and Official Team Basketball Analytics Provider. This multi-year collaboration includes the development of 'Dragon', a next-gen platform designed to synthesize millions of basketball data points. Utilizing Second Spectrum's technology, NBA League Pass will feature enhanced graphics and advanced statistical insights during alternate telecasts, enriching the viewer experience. Additionally, all official tracking data will be integrated into Genius Sports' analytics engine, supporting all 30 NBA teams.

Genius Sports Limited (NYSE:GENI) announces its fourth quarter and full year 2022 results will be released before 8:00 AM ET on March 10, 2023. A conference call will follow the release at 8:00 AM ET to discuss the results further. Investors can access the earnings press release and materials at investors.geniussports.com. The company operates globally, powering the connection between sports, betting, and media, serving over 400 sports organizations across 150 countries. It leverages advanced technology for enhanced fan experiences.

Genius Sports (NYSE:GENI) has been awarded exclusive data distribution rights for all XFL games, enhancing its role as the official betting data distribution partner. This partnership will provide sportsbooks with rapid, accurate XFL data while increasing revenue opportunities through the Genius Marketing Suite. Additionally, the launch of the new XFL Pick'Em game aims to boost digital fan engagement by allowing fans to predict game outcomes and earn rewards, including a trip to the XFL Championship Game. This collaboration is designed to create a more dynamic viewing experience for fans, partners, and stakeholders.

Genius Sports (NYSE:GENI) has received a temporary sports wagering vendor certification from the Massachusetts Gaming Commission, allowing it to support sportsbook partners across the state. This temporary license, valid for 12 months, marks the company's entry into the Massachusetts sports betting market, which began operations in January 2023. With this addition, Genius Sports holds 41 licenses across North America. CEO Mark Locke expressed enthusiasm for collaborating with Massachusetts as more states legalize sports betting, leveraging their NFL wagering products and media solutions.