Slides
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First Quarter 2025 Earnings May 6, 2025
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Forward-Looking Statements This presentation contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and S ection 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. All statemen ts other than statements of historical facts are forward-looking statements. These forward-looking statements include information about our po ssible or assumed future results of operations or our performance. Words such as “expects,” “intends,” “plans,” “believes,” “ anticipates,” “estimates,” and variations of such words and similar expressions are intended to identify such forward looking statements. A lthough we believe that the forward-looking statements contained in this presentation are based on reasonable assumptions, you shou ld be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in such forward-looking statements, including but not limited to: risks related to our reliance on relations hips with sports organizations and the potential loss of such relationships or failure to renew or expand existing relationships; fraud, corru ption or negligence related to sports events, or by our employees or contracted statisticians; risks related to changes in domes tic and foreign laws and regulations or their interpretation; compliance with applicable data protection and privacy laws; pending litigation and inve stigations; the failure to protect or enforce our proprietary and intellectual property rights; claims for intellectual property infringement; our reliance on information technology; elevated interest rates and inflationary pressures, including fluctuating foreign currency and exc hange rates; risks related to domestic and international political and macroeconomic uncertainty; our share repurchase program; and other factors included under the heading “Risk Factors” in our Annual Report on Form 20 -F filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 14, 2025 (“2024 Annual Report”). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this p resentation. Although we believe that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements involve known and unknown risks and are based upo n a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of whic h are beyond our control. Actual results may differ materially from those expressed or implied by such forward -looking statements. We undertake no obligation to publicly update or revise any forward-looking statements contained in this presentation, or the documents to which we refer readers in this presentation, to reflect any change in our expectations with respect to such statements or any change i n events, conditions or circumstances upon which any statement is based. Use of Projections This presentation contains projections, including revenue and Adjusted EBITDA. Our independent auditors have not audited, rev iewed, compiled, or performed any procedures with respect to the projections for the purpose of their inclusion in this presenta tion and, accordingly, have not expressed an opinion or provided any other form of assurance with respect thereto for the purpose of th is presentation. These projections are for illustrative purposes only and should not be relied upon as being indicative of futur e results. The assumptions and estimates underlying the projected information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projected information. Even if our assumptions and estimates are correct, projections are inherently uncertain due to a number of factors outside our control. Accordingly, there can be no assurance that the projected results are indicative of our future performance or that actual results will not differ materially from those presented in the projected information. Inclusion of the project ed information in this presentation should not be regarded as a representation by any person that the results contained in the p rojected information will be achieved. Non-GAAP Financial Measures This presentation includes non-GAAP financial measures not presented in accordance with U.S. GAAP. A reconciliation of the most comparable GAAP measure to its non-GAAP measure is included in the appendix. Adjusted EBITDA We present Group adjusted EBITDA and Group adjusted EBITDA margin, non -GAAP performance measures, to supplement our results pres ented in accordance with U.S. GAAP. Group adjusted EBITDA is defined as earnings before interest, income tax, depreciation an d amortization and other items that are unusual or not related to Genius’ revenue-generating operations, including stock -based compensation expense (including related employer payroll taxes), litigation and related costs, transaction expenses and gain or loss on foreign currency. Group adjusted EBITDA is used by management to evaluate Genius’ core operating performance on a comparable basis and to make strategic decisions. Genius believes Group adjusted EBITDA is useful to investors for the same reasons as well as in evaluating Genius’ operating performance against competitors, which commonly disclose similar performance measures. However, Genius’ calculation of Group adjusted EBITDA may not be comparable to other similarly titled performance measures of other companies. Group adjusted EBITDA and Group adjusted EBITDA margin are not intended to be a substitute for any US GAAP financial measure. We do not provide a reconciliation of Group adjusted EBITDA to consolidated net income/(loss) on a forward -looking basis because we are unable to forecast certain items required to develop meaningful comparable GAAP financial measures without unreasonabl e efforts. These items are difficult to predict and estimate and are primarily dependent on future events. The impact of these items could be significant to our projections. Trademarks and Trade Names We own or have rights to various trademarks, service marks and trade names that we use in connection with the operation of ou r businesses. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties’ trademarks, service marks, trade names or products in this presentati on is not intended to, and does not imply, a relationship with us or an endorsement or sponsorship by us. Solely for convenience , the trademarks, service marks and trade names referred to in this presentation may appear without the ®, TM or SM symbols, but such reference s are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. Disclaimer
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Contents 01 Business Updates 02 Financial Results & Outlook 03 Appendix
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Business Updates
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Strong Financial and Strategic Execution to Begin 2025 ▪ Group Revenue increased 20% year-on-year to $144m ▪ Group Revenue growth contributed to Group Adj. EBITDA at a 53% incremental margin ▪ Group Adj. EBITDA1 increased 188% year-on-year to $20m ▪ Group Adj. EBITDA margin1 expanded 800bps year-on-year to 13.7% Demonstrated Growth and Profitability ▪ Launched BetVision for Soccer, available for 120+ competitions, including French Ligue 1, Dutch Eredivisie, Brasiliero Série A, Turkish Süper Lig and UEFA Champions League qualifiers ▪ Premier League introduced semi-automated offside technology in April, following live operation in the FA Cup ▪ Unveiled Performance Studio, a 3D immersive analysis technology transforming player analysis and development ▪ Launched data-driven broadcast mode called Data Zone for French Ligue 1 Technology and Product Execution ▪ 2025 Group Revenue of $620M, implying year-on-year growth of 21% ▪ 2025 Group Adj. EBITDA1 of $125M, implying 46% year-on-year growth and 340 bps of margin1 expansion to 20% ▪ Expecting increased positive cash flow in the full year 2025 Reaffirmed 2025 Guidance: Continued Growth and Profitability 1 Group Adj. EBITDA and Group Adj. EBITDA margin, non-GAAP performance measures, are used to supplement our results presented in accordance with U.S. GAAP. A reconciliation of the most comparable GAAP measure to its non- GAAP measure is included in the appendix of this presentation. ▪ Expanded partnership with NCAA, confirming Genius Sports as the exclusive provider of official NCAA data to licensed sportsbooks for March Madness and all post-season tournaments through 2032 ▪ Announced two FANHub partnerships: ▪ Launched Women’s Sports Audience Intelligence & Monetization Service in partnership with Deep Blue ▪ Renewed partnership with EchoPoint Media to promote the 2025 Indianapolis 500 Expanding Commercial Partnerships
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NCAA Exclusive Official Data Rights Reinforce Genius Sports’ Unique Technology-Driven Approach Natural expansion of existing data partnership No rights fees Extension to 2032 14-year relationship Expanded integrity safeguards Our position at the heart of the NCAA data & technology ecosystem solidified the ability to secure data rights… …while introducing GeniusIQ deepens our relationship and unlocks additional monetization opportunities: Broadcast enhancements Augmented advertising Player tracking data Coaching analytics FANHub rollout
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English Premier League Officially Introduced SAOT Semi-automated offsides technology (SAOT) for soccer leverages next generation “mesh” data to support video assistant referees Faster and more accurate decisions
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Genius Sports Launched 3D Immersive Analysis Technology New tool lets analysts review key moments through any player’s eyes, setting a new standard in performance analysis Cutting-edge insights
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Launched BetVision for Soccer to Transform Live Betting & Fan Engagement French Ligue 1 Brasiliero Série A Dutch Eredivisie Turkish Süper Lig UEFA Champions League qualifiers And dozens more… Available for 120+ global competitions: ✓ Touch-to-Bet ✓ Integrated Betslip ✓ Personalized Bet Tracking ✓ Contextual Recommendations ✓ Player & Team Stats ✓ Low-Latency Streams
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FANHub SAOT BetVision Strategic Execution Creates Powerful Flywheel Effect 1 2 3 4Brands Sportsbooks Content Distributors Leagues & Teams Drive Monetization via Advertising Connect brands with sports fans and drive stickiness with leagues & teams Engage Fans in Next Gen Experiences Drives global engagement and builds rich audience graph of sports fans Drive Sports Data Monetization Durable revenue generation to fund innovation for the future Build Trust & Tech Credibility Genius Sports becomes the source of sports data; redefines language of sports
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Financial Results & Outlook
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20% Group Revenue Growth Resulted in Nearly 3x Growth in Group Adj. EBITDA 53% incremental contribution to Group Adj. EBITDA, resulting in 800bps of margin expansion year -on-year $119.7 $144.0 +$24.3 Q1 2024 Q1 2025 Group Revenue ($M) $6.9 $19.8 +$12.9 Q1 2024 Q1 2025 Group Adj. EBITDA1 ($M) 1 Group Adj. EBITDA, a non-GAAP performance measures, is used to supplement our results presented in accordance with U.S. GAAP. A reconciliation of the most comparable GAAP measure to its non-GAAP measure is included in the appendix of this presentation.
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Margin Expansion Demonstrates Genius Sports Operating Leverage 1 Gross Profit Margin (US GAAP) is defined as Gross Profit as a percentage of Group Revenue, as reported under US GAAP (see slides 17 and 18 in this presentation for underlying financial results) 2 Group Adj. EBITDA margin is a non-GAAP performance measure used to supplement our results presented in accordance with US GAAP. A reconciliation of the most comparable GAAP measure to this non-GAAP measure is included in the appendix of this presentation. 10.7% 24.4% Gross Profit Margin1 Q1 2024 Q1 2025 5.7% 13.7% Group Adj. EBITDA Margin2 Q1 2024 Q1 2025
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21% FY 2025E Group Revenue Growth 46% FY 2025E Group Adj. EBITDA Growth 20% FY 2025E Group Adj. EBITDA Margin Reinforced Confidence in 2025 Guidance $620m FY25 Group Revenue $125m FY25 Group Adj. EBITDA Another Year of >20% Group Revenue Growth, Adj. EBITDA Margin Expansion and Positive Cash Flow ~340bps FY 2025E Group Adj. EBITDA Margin Expansion vs. FY 2024
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Q&A
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Appendix
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Genius Sports Q1 P&L & Group Adjusted EBITDA Reconciliation Condensed Consolidated Statements of Operations (Unaudited, amounts in thousands, except share and per share data) (1) Includes amortization of intangible assets generated through business acquisitions (inclusive of amortization for marketing products, acquired technology, and historical data rights related to the acquisition of a majority interest in Genius in 2018). (2) Includes depreciation of Genius’ property and equipment, amortization of contract costs, and amortization of internally developed software and other intangible assets. Excludes amortization of intangible assets generated through business acquisitions. (3) Includes restricted shares, stock options, equity-settled restricted share units, cash-settled restricted share units and equity-settled performance-based restricted share units granted to employees and directors (including related employer payroll taxes). (4) Includes litigation and related costs incurred by the Company relating to discrete and non-routine legal proceedings that are not part of the normal operations of the Company’s business. For the three months ended March 31, 2025 and 2024, legal proceedings included Sportscastr litigation, dMY litigation and Spirable litigation (as described in Item 3.D “Risks Related to Legal Matters and Regulations” of the 2024 Annual Report). All other legal proceedings are expensed as part of our on-going operations and included in general and administrative expenses. (5) Includes severance costs and non-recurring compensation payments, expenses incurred related to earn-out payments on historical acquisitions, gain/loss on disposal of assets, and professional fees for finance transformation project. Reconciliation of U.S. GAAP Net loss to Group Adjusted EBITDA (Unaudited, amounts in thousands) 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 expense 55,626 37,085 Loss from operations (20,424) (24,278) Interest expense, net 437 666 Loss on disposal of assets (12) (7) Gain (loss) on foreign currency 12,249 (1,087) Total other income (expenses) 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 Three Months Ended March 31, 2025 2024 Consolidated net loss $ (8,198) $ (25,541) Adjusted for: Net, interest income (437) (666) Income tax expense 542 1,100 Amortization of acquired intangibles (1) 2,182 10,204 Other depreciation and amortization (2) 14,576 11,226 Stock-based compensation (3) 17,312 7,669 Transaction expenses 732 464 Litigation and related costs (4) 3,368 1,199 (Gain) loss on foreign currency (12,249) 1,087 Other (5) 1,947 136 Group Adjusted EBITDA $ 19,775 $ 6,878
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Reconciliation of GAAP Operating Expenses to non- GAAP Operating Expenses (a) Amortization of acquired intangibles; (b) Other depreciation & amortization; (c) Stock-based compensation (including related employer payroll taxes); (d) Transaction expenses; (e) Litigation and related costs; (f) Other March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 June 30, 2023 March 31, 2023 December 31, 2024 December 31, 2023 GAAP Operating Expenses Cost of revenue 108,789$ 128,081$ 80,116$ 67,079$ 106,911$ 116,656$ 77,446$ 62,173$ 87,697$ 382,187$ 343,972$ Sales and marketing 11,413 9,880 9,455 9,661 8,415 9,625 5,827 6,589 7,391 37,411 29,432 Research and development 8,946 4,893 5,848 7,214 6,621 7,874 6,115 5,812 6,269 24,576 26,070 General and administrative 34,535 40,156 30,403 30,867 21,585 27,076 20,399 19,618 18,074 123,011 85,167 Transaction expenses 732 (278) 432 1,628 464 338 832 496 828 2,246 2,494 Total Operating Expenses 164,415$ 182,732$ 126,254$ 116,449$ 143,996$ 161,569$ 110,619$ 94,688$ 120,259$ 569,431$ 487,135$ Non-GAAP Operating Expense Adjustments Cost of revenue (a) (2,182) (2,183) (2,725) (9,024) (10,204) (10,305) (10,321) (10,117) (9,733) (24,136) (40,476) (b) (13,623) (12,651) (12,040) (11,059) (10,385) (12,955) (7,040) (6,890) (6,944) (46,135) (33,829) (c) (102) (124) (144) (176) (174) (195) (56) (112) (5,979) (618) (6,342) (f) (254) (69) (8) 32 (32) (58) - (15) (37) (77) (110) Sales and marketing (b) (416) (417) (404) (381) (374) (329) (323) (313) (267) (1,576) (1,232) (c) (2,109) (1,037) (997) (1,589) (756) (1,999) (248) (245) (568) (4,379) (3,060) (f) (402) 545 (1) 4 (3) (3) (3) 198 (178) 545 14 Research and development (b) (416) (327) (377) (377) (405) (478) (511) (529) (481) (1,486) (1,999) (c) (2,703) (1,707) (1,390) (2,031) (1,119) (2,431) (369) (389) (441) (6,247) (3,630) (f) (859) (225) (4) (52) (9) (1,860) (901) (395) (718) (290) (3,874) General and administrative (b) (121) (127) (125) (205) (62) (482) (68) (122) (109) (519) (781) (c) (12,398) (18,230) (6,791) (13,772) (5,620) (11,445) (4,390) (2,878) (3,717) (44,413) (22,430) (e) (3,368) (1,932) (3,295) (1,149) (1,199) (876) (21) (608) (784) (7,575) (2,289) (f) (420) (380) (922) (10) (85) (1,852) (2) 8 (19) (1,397) (1,865) Transaction expenses (d) (732) 278 (432) (1,628) (464) (338) (832) (496) (828) (2,246) (2,494) Total Operating Expenses (40,105)$ (38,586)$ (29,655)$ (41,417)$ (30,891)$ (45,606)$ (25,085)$ (22,903)$ (30,803)$ (140,549)$ (124,397)$ Non-GAAP Operating Expenses Cost of revenue 92,628 113,054 65,199 46,852 86,116 93,143 60,029 45,039 65,004 311,221 263,215 Sales and marketing 8,486 8,971 8,053 7,695 7,282 7,294 5,253 6,229 6,378 32,001 25,154 Research and development 4,968 2,634 4,077 4,754 5,088 3,105 4,334 4,499 4,629 16,553 16,567 General and administrative 18,228 19,487 19,270 15,731 14,619 12,421 15,918 16,018 13,445 69,107 57,802 Transaction expenses - - - - - - - - - - - Total Operating Expenses 124,310$ 144,146$ 96,599$ 75,032$ 113,105$ 115,963$ 85,534$ 71,785$ 89,456$ 428,882$ 362,738$ Year EndedThree Months Ended
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GENI Share Count Build Total Capitalization (shares in millions) As of March 31, 2025 Ordinary shares outstanding 236.9 Additional Securities Management restricted shares and options 1.5 NFL Enterprises LLC vested Warrants1 14.5 Unvested equity-settled RSUs and PSUs2 14.9 Total Additional Securities 30.9 Fully Diluted Ordinary Shares Outstanding 267.7 Note: totals may not sum due to rounding 1 Pursuant to the License Agreement, the Company, agreed to issue the NFL an aggregate of up to 18,500,000, which were fully vested as of April 1, 2023. The NFL exercised 4,000,000 warrants in the first quarter ended March 31, 2025. 2 Includes 1) Equity-settled Restricted Share Units (“RSUs”), 2) Cash-settled Restricted Share Units (“Cash-settled RSUs”) and 3) Equity-settled Performance-Based Restricted Share Units (“PSUs”) as part of the 2022, 2023, and 2024 Employee Incentive Plans, granted on April 5, 2022, December 7, 2023, and April 3, 2024, respectively. The RSUs and Cash-settled RSUs are subject to a service condition with graded vesting over the three years following the Grant Dates. PSUs vest after three years, subject to a service condition, a market condition related to volume weighted average trading price performance of the Company’s common stock (2022 Employee Incentive Plan only), and performance conditions related to the Company’s cumulative revenue and cumulative adjusted EBITDA.