Genius Sports Limited - GENI STOCK NEWS

Genius Sports Limited (GENI) reported Q2 2022 results with revenue of $71.1 million, exceeding guidance by $3.1 million, marking a 27% year-over-year increase. Adjusted EBITDA rose to $8.4 million, a 61% improvement. The company achieved a remarkable 99% reduction in net loss to $4.8 million, attributed to decreased stock-based compensation. U.S. revenue nearly quadrupled year-over-year. Closing cash stood at approximately $175 million. The company reaffirmed its 2022 revenue guidance of $340 million and forecasts 2023 revenue to reach between $430 to $440 million.

Genius Sports Limited (NYSE:GENI) will release its Q2 2022 results before 8:00 AM EDT on August 16, 2022. A conference call will follow at the same time to discuss these results. The earnings press release and materials can be found on Genius Sports' investor relations website. The company serves as the official data, technology, and broadcast partner connecting sports, betting, and media, and is trusted by over 400 sports organizations globally.

Genius Sports Limited (NYSE:GENI) has launched a new marketing campaign titled “Switch on Genius”, aiming to help brands effectively engage sports fans in a fragmented digital landscape. The campaign promotes personalized, dynamic, and data-driven content to foster connections between brands and sports audiences. With traditional sponsorship yielding diminishing returns, Genius Sports underscores its unique access to fan audiences and live data to enhance brand relevance during live events. The company partners with notable brands such as Heineken and British Airways to activate fan engagement.

Genius Sports (NYSE:GENI) and Clue have launched a comprehensive integrity intelligence platform aimed at combating betting-related corruption in sports. This partnership expands Genius Sports' capabilities as the integrity partner for over 150 leagues, including the NFL and EPL. Utilizing Clue's advanced software, Genius Sports will enhance data analysis and reporting, allowing for better detection of corruption. The platform includes a centralized vault for integrity risk assessments, aiming to safeguard integrity across various sports and leagues globally.

Genius Sports (NYSE:GENI) has appointed Sir Hugh Robertson, former UK Minister for Sport, as an Advisor to its newly formed Business Advisory Council. His expertise aims to identify strategic development opportunities and strengthen governance within the company. Sir Hugh's background includes notable roles in British politics and the Olympic Committee, with a focus on enhancing Genius Sports' position as a leader in sports data and technology. CEO Mark Locke expressed enthusiasm for the appointment, highlighting Sir Hugh's extensive commercial experience as a key asset for future growth.

Genius Sports Limited (GENI) reported Q1 2022 revenue of $85.9 million, exceeding forecasts by 10% and showing a 59.9% year-over-year increase. Adjusted EBITDA was $(2.9) million, exceeding projections by 42%. The company reaffirmed its 2022 revenue outlook of $340 million and adjusted EBITDA of $15 million, predicting 2023 revenue between $430 million and $440 million with EBITDA of $40 to $50 million. Significant growth was seen in media technology services, with revenue up 157.3%. However, the net loss increased to $40.2 million from $5.3 million in Q1 2021.

Genius Sports has announced a partnership with S.L. Benfica to enhance performance analysis and fan engagement in Portuguese soccer. Utilizing AI and machine learning, Genius Sports’ Second Spectrum division will deliver advanced tracking technology to provide key insights such as expected goals and player speeds. The collaboration aims to improve live broadcasts and strengthen coaching analytics, thereby elevating Benfica's global audience and fan experience. This partnership marks a significant step in Genius Sports' role as a data partner in European soccer.

Genius Sports Limited (NYSE:GENI) is set to release its first quarter 2022 results on May 12, 2022, at 8:00 AM EDT. This will be followed by a conference call to discuss the results, which will also be accessible via the company's investor relations website. Genius Sports, a global leader in sports data and technology, partners with over 400 sports organizations, including major leagues like the NFL and EPL. The financial results and related materials will be available on their online platform.

Genius Sports has partnered with Liga MX's Necaxa to enhance player analytics and fan experiences through advanced tracking and video tools. Utilizing Second Spectrum technology, Genius Sports will implement AI-powered cameras at Estadio Victoria, generating detailed player metrics.

This partnership aims to boost the on-field performance and provide immersive experiences for fans. Necaxa is recognized as a growing innovator in Latin American sports, and this collaboration represents an important step in modernizing soccer analytics and fan engagement.