Genius Sports exceeds revenue and EBITDA guidance in 2022
Group revenue of $341m and Group Adj. EBITDA of $16m in the year ended December 31, 2022, exceeding guidance of $340m and $15m, respectively.
Press release.- Genius Sports has shared financial results for its fiscal fourth quarter and full year ended December 31, 2022.
Mark Locke, Genius Sports co-founder and CEO, said: “Our 2022 results demonstrate our commitment to executing the financial and strategic plan we outlined in our Investor Day at the start of 2022, and we have successfully delivered on our forecast each quarter.
“We remain relentlessly focused on balancing investment in our highest growth initiatives, while still demonstrating the unique operating leverage of our business model. Following our consistent execution in 2022 and the maturation of our technology investments, the stage is now set for 2023 to capture the immense opportunity ahead of us, afforded by the global competitive position we have built to date.”
Nick Taylor, Genius Sports CFO, added, “Our expectation of nearly tripling our Group Adj. EBITDA and generating free cash flow in the second half of 2023 is the direct result of a cost base that does not need to grow in line with revenues moving forward. With $159m of total cash on our balance sheet, zero debt financing, and our legacy warrants now removed, our shareholders are well positioned to capture the benefits of profitability and cash flow acceleration.”
See also: NBA and Genius Sports / Second Spectrum expand partnership
