Genius Sports reports first quarter 2022 results above guidance

Genius reported Q1 revenue of $85.9m, outperforming the first-quarter outlook by 10 per cent. Group Adjusted EBITDA of ($2.9m), exceeding first-quarter outlook by 42 per cent.

Press release.- Genius Sports, the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media, today announced financial results for its fiscal 2022 first quarter ended March 31, 2022.

“Our strong first quarter is a result of successful execution,” said Mark Locke, Genius Sports Co-Founder and CEO. “We began 2022 with a comprehensive Investor Day, outlining our strategic plan and underlying assumptions supporting our financial outlook. Our financial and operational achievements in the quarter demonstrate our ability to deliver on that plan and increase our competitive advantages through unique and proven technology.”

Delivered Group Revenue of $85.9m, outperforming first-quarter outlook by 10 per cent. Group Adjusted EBITDA of ($2.9m), exceeding first-quarter outlook by 42 per cent. Reaffirmed 2022 Group Revenue and Group Adjusted EBITDA outlook of $340m and $15m, respectively, and 2023 outlook of $430m to $440m and $40m to $50m, respectively.

See also: Genius Sports signs deal with Portuguese football team Benfica