January 27, 2022 Sports Betting, Technology

Genius Sports releases financial outlook for 2022

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The company expects $340m in group revenue.

Genius Sports Limited (GSL) has released its financial outlook at its first Virtual Investor Day. The company also discussed goals and details about three product groups during the session.

Profitability in 2022 is expected to come close to $340m in group revenue and $15m in group adjusted EBITDA. Looking to 2023, GSL projects group revenue and group adjusted EBITDA to be in the range of $430m to $440m and $40m to $50m, respectively.

The original business is already delivering adjusted EBITDA margins of approximately 20%, according to GSL’s results. Future plans for the European company include focusing on the US business as a key area of investment, something GSL expects will generate growth and profitability by 2024.

“We have a clear plan in place to build on this strong foundation and drive profitability for Genius Sports Group in 2022 and 2023, and I am more confident than ever in the growth opportunities ahead as we continue to expand our operations around the world,” said Mark Locke, GSL Co-Founder and CEO.

Part of GSL’s strategy is focusing on partnerships to further build company value.

“Genius is the key link between leagues, sportsbooks, media outlets, advertisers, and ultimately, fans. Our best-in-class data collection technology is used around the clock and around the globe, powering the high-growth global sports ecosystem. It is difficult to imagine this industry operating efficiently without the mission critical data and technology solutions we provide,” said Locke.

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