DOM 22 DE MAYO DE 2022 - 20:26hs.
Revenue increased 59.9% y-o-y

Genius Sports reports Q1 2022 results above guidance

Genius Sports, the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media, announced financial results for its fiscal 2022 first quarter ended March 31, 2022 reporting a revenue increased 59.9% year-over-year to US$85.9 million. “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,” also commented said Mark Locke.

Q1 2022 Financial Highlights

Group Revenue: Group revenue increased 59.9% year-over-year to US$85.9 million. On a constant currency basis, revenue increased US$33.6million, or 64.2% year-over-year.

  • Betting Technology, Content & Services: Revenue increased 27.6% (31.1% on a constant currency basis) year-over-year to US$49.7 million, driven by growth in business with existing customers as a result of price increases on contract renewals and renegotiations, expansion of value-add services and new service offerings, and new customer acquisitions.
  • Media Technology, Content & Services: Revenue increased over 150% (164.3% on a constant currency basis) year-over-year to US$24.1 million, substantially organic growth driven by continued acquisition of new customers, primarily for programmatic advertising services, and the inclusion of incremental revenues from recent acquisitions.
  • Sports Technology & Services: Revenue more than doubled (129.3% on a constant currency basis) year-over-year to US$12.1 million, primarily driven by the inclusion of revenues derived from recent acquisitions, including Second Spectrum, as well as expanded services provided to existing sports league and federation customers across all tiers of sport.

Group Adjusted EBITDA: Group adjusted (non-GAAP) EBITDA decreased to (US$2.9) million, driven by continued investment in the high-growth US business and overall revenue mix

Q1 2022 Business Highlights

Continued to develop deeply integrated partnerships, further positioning Genius at the heart of the ecosystem with competitive advantages via differentiated technology:

  • Agreed to fan engagement, official data, and integrity partnership with the Mid-American Conference (“MAC”), an NCAA Division I Conference that sponsors championships in 24 sports.
  • Reached a new partnership between Second Spectrum and NBA G League to deploy cutting-edge data tracking technology across all NBA G League venues.
  • Delivered optical tracking, data visualization, and video augmentation solutions for Turner Sports and ESPN broadcasts of the NCAA Men’s and Women’s Division 1 Basketball Tournaments.
  • Announced official data, fan engagement, and streaming partnership with the Icelandic Club Association (ÍTF) and the Icelandic Football Association (KSI).
  • Obtained regulatory approval from the Alcohol and Gaming Commission of Ontario (AGCO).
  • Launched formal ESG program, ‘Beyond the Lines’, creating a framework to measure, drive, and increase the efficiency of our engagement in socially responsible initiatives. The program will focus on three pillars: Action for the Planet, Putting People First, and Mindful Business.
  • After the reporting period, partnered with the European Tour to launch the new official Fantasy game of the DP World Tour.
  • After the reporting period, agreed to a new tracking and video augmentation partnership with Liga MX franchise, Club Necaxa.

Financial Outlook

Genius reaffirms its expectation to generate Group Revenue of approximately US$340 million and Group Adjusted EBITDA of approximately US$15 million in 2022, despite risks related to foreign exchange and ceased commercial operations in Russia and Ukraine. It also reaffirms its expectation of Group Revenue in the range of US$430 to US$440 million and Group Adjusted EBITDA of US$40 to US$50 million in 2023.

Source: GMB