Genius Sports reports $144m in group revenue during Q1
The company recently signed a deal with the NCAA.
Key Points
- Adjust EBITDA tripled year-over-year during the first quarter
- Group revenue rose by 20% when compared to last year’s first quarter results
Genius Sports has released its financial and business results for the first quarter of the year.
During the quarter, the company reported $144m in group revenue. This total reflected 20% growth when compared to results posted during the same quarter last year.
The company said its group revenue increase contributed to its adjusted EBITDA “at a 53% incremental margin.”
Genius’ adjusted EBITDA nearly tripled year-over-year, according to the report. Adjusted EBITDA during the first quarter reached $20m.
However, its group net loss was $8m in Q1. The company’s net loss total was nearly a third of what the company reported as a net loss during the first quarter of 2024.
Business highlights during the quarter included a move by the Board of Directors to greenlight a share repurchase program of “up to $100m, given the confidence in the long-term profitability and cash flow outlook.”
Company CEO and Co-Founder Mark Locke said Genius Sports is on track to achieving its current goals.
He said, “This quarter demonstrates the strong execution of our strategic objectives, as we continue our technology distribution, product innovation and commercial momentum.
“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.”
The NCAA recently decided to sell gambling data to sportsbooks through an agreement with Genius Sports. This sale could pave the way for the gambling industry to offer AI-driven wagering on college sports, as well as provide micro-betting options.
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