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Genius Sports Increases First Quarter Group Revenue and Group Adj. EBITDA by 20% and 188%, Respectively, and Maintains 2025 Outlook for 21% Group Revenue Growth and 20% Group Adj. EBITDA Margin

Genius Sports Limited (NYSE:GENI) (“Genius Sports,” "Genius" or the “Group”), the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting an...

Autore: Business Wire

Genius Sports Increases First Quarter Group Revenue and Group Adj. EBITDA by 20% and 188%, Respectively, and Maintains 2025 Outlook for 21% Group Revenue Growth and 20% Group Adj. EBITDA Margin

LONDON & NEW YORK: Genius Sports Limited (NYSE:GENI) (“Genius Sports,” "Genius" or the “Group”), the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media, today announced financial results for its fiscal first quarter ended March 31, 2025.

“This quarter demonstrates the strong execution of our strategic objectives, as we continue our technology distribution, product innovation, and commercial momentum,” said Mark Locke, Genius Sports Co-Founder and CEO. “Our largely fixed cost base, coupled with several durable growth drivers, reinforces our confidence in delivering sustainable growth, profitability, and cash flow in 2025 and beyond.”

$ in thousands

 

Q125

 

 

Q124

 

 

%

Group Revenue

 

 

143,991

 

 

 

119,718

 

 

 

20.3

%

 

Betting Technology, Content & Services

 

 

106,543

 

 

 

73,897

 

 

 

44.2

%

 

Media Technology, Content & Services

 

 

25,893

 

 

 

35,475

 

 

 

(27.0

%)

 

Sports Technology & Services

 

 

11,555

 

 

 

10,346

 

 

 

11.7

%

 

Group Net Loss

 

 

(8,198

)

 

 

(25,541

)

 

 

67.9

%

 

Group Adjusted EBITDA

 

 

19,775

 

 

 

6,878

 

 

 

187.5

%

 

Group Adjusted EBITDA Margin

 

 

13.7

%

 

 

5.7

%

 

 

800 bps

 

Q1 2025 Financial Highlights

Q1 2025 Business Highlights

Financial Outlook

Genius Sports expects to generate Group Revenue of approximately $620 million and Group Adjusted EBITDA of approximately $125 million in 2025. This implies year-over-year Group Revenue and Adj. EBITDA growth of 21% and 46%, respectively. Genius Sports also expects to increase its positive annual cash flow in the full year of 2025.

Share Repurchase Program

The Board of Directors has approved a share repurchase program to repurchase up to $100 million of ordinary shares of Genius Sports, given the strong business performance and confidence in the long-term profitability and cash flow outlook.

The timing and actual number of shares repurchased depends on a variety of factors, including price, general business and market conditions, and alternative investment opportunities, and is subject to the resolution of the shareholders adopted at our Annual General Meeting on December 12, 2024 regarding the conditions for share repurchases and any subsequent shareholder resolutions regarding Genius Sports’ repurchase of its shares. The share repurchase program does not obligate Genius Sports to acquire any particular amount of ordinary shares, and the share repurchase program may be suspended or discontinued at any time at Genius Sports’ discretion. Genius Sports expects to use current cash and cash equivalents and the cash flow it generates from operations to fund the share repurchase program.

Genius Sports Limited

Condensed Consolidated Statements of Operations

(Unaudited)

(Amounts in thousands, except share and per share data)

 

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Revenue

 

$

143,991

 

 

$

119,718

 

Cost of revenue

 

 

108,789

 

 

 

106,911

 

Gross profit

 

 

35,202

 

 

 

12,807

 

Operating expenses:

 

 

 

 

 

 

Sales and marketing

 

 

11,413

 

 

 

8,415

 

Research and development

 

 

8,946

 

 

 

6,621

 

General and administrative

 

 

34,535

 

 

 

21,585

 

Transaction expenses

 

 

732

 

 

 

464

 

Total operating expenses

 

 

55,626

 

 

 

37,085

 

Loss from operations

 

 

(20,424

)

 

 

(24,278

)

Interest income, net

 

 

437

 

 

 

666

 

Loss on disposal of assets

 

 

(12

)

 

 

(7

)

Gain (loss) on foreign currency

 

 

12,249

 

 

 

(1,087

)

Total other income (expense)

 

 

12,674

 

 

 

(428

)

Loss before income taxes

 

 

(7,750

)

 

 

(24,706

)

Income tax expense

 

 

(542

)

 

 

(1,100

)

Gain from equity method investment

 

 

94

 

 

 

265

 

Net loss

 

$

(8,198

)

 

$

(25,541

)

Loss per share attributable to common stockholders:

 

 

 

 

 

 

Basic and diluted

 

$

(0.03

)

 

$

(0.11

)

Weighted average common stock outstanding:

 

 

 

 

 

 

Basic and diluted

 

 

248,432,320

 

 

 

229,326,772

 


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Genius Sports Limited

Condensed Consolidated Balance Sheets

(Amounts in thousands, except share and per share data)

 

 

 

(Unaudited)

 

 

 

 

 

 

March 31,

 

 

December 31,

 

 

 

2025

 

 

2024

 

ASSETS

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

209,823

 

 

$

110,213

 

Restricted cash, current

 

 

25,839

 

 

 

25,026

 

Accounts receivable, net

 

 

81,594

 

 

 

85,491

 

Contract assets

 

 

31,647

 

 

 

30,632

 

Prepaid expenses

 

 

37,331

 

 

 

27,333

 

Other current assets

 

 

10,360

 

 

 

9,902

 

Total current assets

 

 

396,594

 

 

 

288,597

 

Property and equipment, net

 

 

20,214

 

 

 

19,016

 

Intangible assets, net

 

 

115,316

 

 

 

115,539

 

Operating lease right-of-use assets

 

 

14,389

 

 

 

7,488

 

Goodwill

 

 

326,011

 

 

 

326,011

 

Deferred tax asset

 

 

1,244

 

 

 

1,192

 

Investments

 

 

29,313

 

 

 

31,717

 

Other assets

 

 

3,607

 

 

 

2,706

 

Total assets