Genius Sports reports revenue and EBITDA ahead of guidance through first three quarters of 2022
Genius reported revenue of $235.7m and Group Adj. EBITDA of $13.1m in the nine months ended September 30.
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 third quarter ended September 30, 2022.
“We are pleased to deliver another quarter of growth and Group Adj. EBITDA profitability and we remain on target to achieve our full-year goals set on our Investor Day at the start of 2022,” said Mark Locke, Genius Sports co-founder and CEO.
“This year has been characterized by strong execution as we continue to deploy innovative technology, win new customers, and strengthen our key partnerships across the sports, betting, media, and broadcasting ecosystem, all with an eye towards cost discipline and profitable growth,” he then added.
- Genius reported group Revenue of $235.7m and Group Adj. EBITDA of $13.1m in the nine months ended September 30, 2022, beating guidance of $231.0m and $12.0m, respectively.
- Strong annual growth of Third Quarter Group Revenue, increasing 28% at constant currency to $78.7m ($86.1m at guidance exchange rate1 $85.0m guidance).
- Third Quarter Group Net loss of $9.0m and Group Adj. EBITDA of $7.7m ($8.7m at guidance exchange rate1 $9.0m guidance), a significant improvement compared to the $0.4m Group Adj. EBITDA loss in the Third Quarter 2021.
- U.S. revenue nearly tripled year-on-year in the nine months ended September 30, 2022.
