Earnings release
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Genius Sports Reports 38% Group Revenue Growth and Raises Full-Year 2025 Group Revenue and Adj. EBITDA Guidance, Driven by Strengthening Media Product • Group Revenue of $166.3m, representing 38% growth year-over-year • Group Revenue growth predominately driven by 89% growth in Media revenue and 28% growth in Betting revenue • Group Net Loss of ($28.8m) whilst Group Adj. EBITDA increased 32% year -over-year to $34.0m • 2025 Group Revenue guidance raised to $655m, representing 28% growth year -over-year • 2025 Group Adj. EBITDA guidance raised to $136m, representing 59% growth year -over-year and a 21% margin LONDON & NEW YORK, November 4, 2025 – 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 third quarter ended September 30, 2025. “Our growth this quarter reflects our unique ability to combine sports data with audience intelligence to deliver personalize d fan experiences at scale,” said Mark Locke, Genius Sports Co-Founder and CEO. “We’re extending our leadership in online sports betting and sports advertising through richer content, rapid product adoption, and strong commercial momentum, driving continued growth and long -term value for our partners.” $ in thousands Q325 Q324 % Group Revenue 166,283 120,198 38.3 % Betting Technology, Content & Services 110,010 85,625 28.5 % Media Technology, Content & Services 41,788 22,126 88.9 % Sports Technology & Services 14,485 12,447 16.4 % Group Net (Loss) Income (28,814 ) 12,505 nm Group Adjusted EBITDA 33,988 25,691 32.3 % Group Adjusted EBITDA Margin 20.4 % 21.4 % (100 bps) $ in thousands YTD25 YTD24 % Group Revenue 428,993 335,363 27.9 % Betting Technology, Content & Services 304,068 226,646 34.2 % Media Technology, Content & Services 86,283 75,554 14.2 % Sports Technology & Services 38,642 33,163 16.5 % Group Net Loss (90,960 ) (34,828 ) (161.2 %) Group Adjusted EBITDA 87,913 53,366 64.7 % Group Adjusted EBITDA Margin 20.5 % 15.9 % 460 bps nm = not meaningful
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Q3 2025 Financial Highlights • Group Revenue: Group revenue increased 38% year-over-year to $166.3 million. Betting Technology, Content & Services: Revenue increased 28% year-over-year to $110.0 million, driven primarily by growth in business with existing customers as a result of price increases on contract renewals and renegotiations, expansion of value-add services, growth and expansion in existing markets, and new service offerings. Growth wa s also supported by new customer acquisitions. Media Technology, Content & Services: Revenue increased 89% year-over-year to $41.8 million, driven by higher programmatic advertising services. Sports Technology & Services: Revenue increased 16% year-over-year to $14.5 million primarily driven by an increase in sales of products built on GeniusIQ technology. • Group Net (Loss) Income: Group net loss was $28.8 million in the third quarter ended September 30, 2025, representing a $41.3 million difference from the $12.5 million income in the third quarter ended September 30, 2024. This was primarily driven by a $7.5 million loss on foreign currency in the third quarter ended September 30, 2025 compared to a $21.1 million gain in the third quarter ended September 30, 2024, as well as timing of new data rights agreements and non-recurring litigation costs. • Group Adjusted EBITDA: Group Adjusted (non-GAAP) EBITDA was $34.0 million in the quarter, representing a 32% increase compared to the $25.7 million reported in the third quarter ended September 30, 2024. Q3 2025 Business Highlights • Acquired Sports Innovation Lab, a leader in sports fan data, to bolster the world’s most advanced fan activation platform • Expanded partnerships with Hard Rock Bet Sportsbook and ESPN BET to provide official data, live trading and BetVision • Launched BetVision product for global basketball competitions • Secured exclusive official data and streaming rights with Serie A through 2029 to power next -generation BetVision product • Utilized leading technology position to secure multi-year exclusive official betting data rights for a select group of competitions within European Leagues • Announced new partnership with PMG, the leading independent agency representing several major brands including Nike, TurboTax, Best Western, and Beats by Dre, among others • Delivered augmented advertising content for Shopify, NBA 2K and Point3 on FanDuel Sports Network’s broadcasts of select WNBA games Financial Outlook Genius Sports expects to generate Group Revenue of approximately $655 million and Group Adjusted EBITDA of approximately $136 million in 2025. This implies year-over-year Group Revenue and Adj. EBITDA growth of 28% and 59%, respectively. Genius Sports also expects to generate positive annual cash flow in the full year of 2025.
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Financial Statements & Reconciliation Tables Genius Sports Limited Condensed Consolidated Statements of Operations (Unaudited) (Amounts in thousands, except share and per share data) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Revenue $ 166,283 $ 120,198 $ 428,993 $ 335,363 Cost of revenue 124,963 80,116 343,584 254,106 Gross profit 41,320 40,082 85,409 81,257 Operating expenses: Sales and marketing 13,645 9,455 39,357 27,531 Research and development 4,943 5,848 22,615 19,683 General and administrative 45,670 30,403 144,705 82,855 Transaction expenses 2,667 432 5,452 2,524 Total operating expenses 66,925 46,138 212,129 132,593 Loss from operations (25,605 ) (6,056 ) (126,720 ) (51,336 ) Interest (expense) income, net (138 ) (13 ) 855 1,001 Gain (loss) on disposal of assets 39 1 26 (18 ) (Loss) gain on foreign currency (7,519 ) 21,099 31,722 17,190 Total other (expense) income (7,618 ) 21,087 32,603 18,173 (Loss) income before income taxes (33,223 ) 15,031 (94,117 ) (33,163 ) Income tax benefit (expense) 2,592 (4,618 ) 302 (4,404 ) Gain from equity method investment 1,817 2,092 2,855 2,739 Net (loss) income $ (28,814 ) $ 12,505 $ (90,960 ) $ (34,828 ) (Loss) earnings per share attributable to common stockholders: Basic $ (0.11 ) $ 0.05 $ (0.36 ) $ (0.15 ) Diluted $ (0.11 ) $ 0.05 $ (0.36 ) $ (0.15 ) Weighted average common stock outstanding: Basic 257,661,292 229,588,604 253,138,423 229,460,263 Diluted 257,661,292 233,730,434 253,138,423 229,460,263
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Genius Sports Limited Condensed Consolidated Balance Sheets (Amounts in thousands, except share and per share data) (Unaudited) September 30, December 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents $ 207,792 $ 110,213 Restricted cash, current — 25,026 Accounts receivable, net 132,385 85,491 Contract assets 53,716 30,632 Prepaid expenses 56,337 27,333 Other current assets 16,171 9,902 Total current assets 466,401 288,597 Property and equipment, net 29,297 19,016 Intangible assets, net 148,912 115,539 Operating lease right-of-use assets 28,896 7,488 Goodwill 338,750 326,011 Deferred tax asset 1,546 1,192 Investments 31,779 31,717 Other assets 3,519 2,706 Total assets $ 1,049,100 $ 792,266 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 59,921 $ 36,661 Accrued expenses 87,595 79,172 Deferred revenue 98,779 73,388 Current debt 4 19 Operating lease liabilities, current 4,076 3,003 Other current liabilities 18,920 9,327 Total current liabilities 269,295 201,570 Deferred tax liability 11,795 13,802 Operating lease liabilities, non-current 26,096 4,489 Other liabilities 19,384 — Total liabilities 326,570 219,861 Shareholders’ equity Common stock, $0.01 par value, unlimited shares authorized, 242,824,068 shares issued and 238,718,120 shares outstanding at September 30, 2025; unlimited shares authorized, 215,261,974 shares issued and 211,156,026 shares outstanding at December 31, 2024 2,428 2,153 B Shares, $0.0001 par value, 22,500,000 shares authorized, 14,500,000 shares issued and outstanding at September 30, 2025; 22,500,000 shares authorized, 18,500,000 shares issued and outstanding at December 31, 2024 1 2 Additional paid-in capital 1,966,811 1,700,065 Treasury stock, at cost, 4,105,948 shares at September 30, 2025 and December 31, 2024 (17,653 ) (17,653 ) Accumulated deficit (1,178,487 ) (1,087,527 ) Accumulated other comprehensive loss (50,570 ) (24,635 ) Total shareholders’ equity 722,530 572,405 Total liabilities and shareholders’ equity $ 1,049,100 $ 792,266
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Genius Sports Limited Condensed Consolidated Statements of Cash Flows (Unaudited) (Amounts in thousands) Nine Months Ended September 30, 2025 2024 Cash Flows from operating activities: Net loss $ (90,960 ) $ (34,828 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 50,435 57,208 (Gain) loss on disposal of assets (26 ) 18 Stock-based compensation 123,020 32,955 Non-cash consideration, net (1,039 ) (1,240 ) Non-cash interest expense, net 585 — Non-cash lease expense 3,498 3,431 Loss on lease abandonment and impairment 195 — Amortization of contract costs 1,082 939 Deferred income taxes (2,362 ) — Allowance for expected credit losses 275 (122 ) Gain from equity method investment (2,855 ) (2,739 ) Gain on foreign currency remeasurement (31,143 ) (16,940 ) Changes in operating assets and liabilities Effect of business combinations (4,399 ) — Accounts receivable (46,129 ) (2,693 ) Contract assets (23,084 ) (11,122 ) Prepaid expenses (21,346 ) 1,233 Other current assets (6,719 ) 2,480 Other assets (1,341 ) (1,287 ) Accounts payable 23,259 (30,970 ) Accrued expenses 924 11,482 Deferred revenue 25,391 (5,485 ) Other current liabilities 2,767 (3,579 ) Operating lease liabilities (2,587 ) (3,516 ) Net cash used in operating activities (2,559 ) (4,775 ) Cash flows from investing activities: Purchases of property and equipment (15,653 ) (9,446 ) Capitalization of internally developed software costs (44,666 ) (38,110 ) Distributions from equity method investments 2,787 1,561 Purchases of intangible assets (1,259 ) — Acquisition of business, net of cash acquired (14,841 ) — Proceeds from disposal of assets 40 10 Net cash used in investing activities (73,592 ) (45,985 ) Cash flows from financing activities: Proceeds from issuance of common shares, net of equity issuance costs 144,000 — Repayment of loans and mortgage (17 ) (16 ) Repayment of promissory notes — (7,575 ) Net cash provided by (used in) financing activities 143,983 (7,591 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash 4,721 1,633 Net increase (decrease) in cash, cash equivalents and restricted cash 72,553 (56,718 ) Cash, cash equivalents and restricted cash at beginning of period 135,239 125,793 Cash, cash equivalents and restricted cash at end of period $ 207,792 $ 69,075 Supplemental disclosure of cash activities: Cash paid during the period for interest $ 2,624 $ 579 Cash paid during the period for income taxes $ 3,003 $ 1,596
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Genius Sports Limited Reconciliation of U.S. GAAP Net loss to Adjusted EBITDA (Unaudited) (Amounts in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 (dollars, in thousands) Net (loss) income $ (28,814 ) $ 12,505 $ (90,960 ) $ (34,828 ) Adjusted for: Net, interest expense (income) 138 13 (855 ) (1,001 ) Income tax (benefit) expense (2,592 ) 4,618 (302 ) 4,404 Amortization of acquired intangibles (1) 2,572 2,725 6,936 21,953 Other depreciation and amortization (2) 16,519 12,946 44,581 36,194 Stock-based compensation (3) 25,863 9,322 128,166 34,559 Transaction expenses 2,667 432 5,452 2,524 Litigation and related costs (4) 9,598 3,295 23,513 5,643 Loss (gain) on foreign currency 7,519 (21,099 ) (31,722 ) (17,190 ) Other (5) 518 934 3,104 1,108 Adjusted EBITDA $ 33,988 $ 25,691 $ 87,913 $ 53,366 (1) Includes amortization of intangible assets generated through business acquisitions (inclusive of amortization for marketing p roducts, 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 devel oped 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) and equity- classified non-employee awards issued to suppliers. (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 and nine months ended September 30, 2025 and 2024, legal proceedings included Sportscastr litigation, dMY litigation and Spirable litigation (as described in Item 3.D “Risks Related to Legal Mat ters and Regulations” in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 14, 2025 (the “2024 20-F”)), and Volleystation litigation (as described in Note 17 – Commitments and Contingencies, elsewhere in this filing on Form 6-K). 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, loss on impairment of property leases, and professional fees for finance trans formation project. Webcast and Conference Call Details Genius Sports management will host a conference call and webcast today at 8:00AM ET to discuss the Group’s third quarter resu lts. The live conference call and webcast may be accessed on the Genius Sports investor relations website at investors.geniussports.com along with Genius’ earnings press release and related materials. A replay of the webcast will be available on the website within 24 hours after the call. About Genius Sports Genius Sports is the official data, technology and broadcast partner that powers the global sports, betting and media ecosyst em. Our technology is used in over 150 countries worldwide, creating highly immersive products that enrich fan experiences across t he entire sports industry. We are the trusted partner to over 1,000 sports organizations, including many of the world’s largest leagues, teams, sportsbo oks, brands and broadcasters, such as the NFL, English Premier League, NCAA, DraftKings, FanDuel, bet365, Coca -Cola, EA Sports, CBS, NBC and ESPN. Genius Sports is uniquely positioned through AI, computer vision and big data to power the future of sports fan experiences. From delivering augmented broadcasts and enhanced highlights, to automated officiating tools, immersive betting solutions and perso nalized marketing activations, we connect the entire sports value chain from the rights holder all the way through to the fan.
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Non-GAAP Financial Measures This press release 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 above. Adjusted EBITDA We present Group adjusted EBITDA and Group adjusted EBITDA margin, non -GAAP performance measures, to supplement our results presented in accordance with U.S. GAAP. Group Adjusted EBITDA is defined as earnings before interest, income tax, depreciatio n and amortization and other items that are unusual or not related to Genius’ revenue -generating operations, including but not limited to stock-based compensation expense (including related employer payroll taxes), litigation and related costs, transaction expens es 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 Gen ius’ 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 Adjus ted 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 unreasonable 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. Forward-Looking Statements This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. All statements other than statements of historical facts are forward-looking statements. These forward-looking statements include information about our possible or assumed future results of operations or our performance. Words such as “expects,” “intends,” “plans,” “bel ieves,” “anticipates,” “estimates,” and variations of such words and similar expressions are intended to identify such forward looking statements. Although we believe that the forward- looking statements contained in this press release are based on reasonab le assumptions, you should 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 relationships with sports organizations and the potential loss of such relationships or failure to renew or expand existing relationships; fraud, corruption or negligence related to sports events, or by our employees or contracted statisticians; risks related to changes in domestic and foreign laws and regulations or their interpretation; compliance wi th applicable data protection and privacy laws; pending litigation and investigations; the failure to protect or enforce our pro prietary 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 exchange rates; risks related to d omestic and international political and macroeconomic uncertainty; our share repurchase program; and other factors included under the heading “Risk Factors” in the 2 024 20-F. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. 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 upon a number of assump tions and estimates which are inherently subject to significant uncertainties and contingencies, many of w hich 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 press release, or the documents to which we refer readers in this press release, to reflect any change in our expectations with respect to such statements or any change in events, conditions or circumstances u pon which any statement is based.
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Contact: Media Chris Dougan, Chief Communications Officer +1 (202) 766-4430 chris.dougan@geniussports.com Investors Brandon Bukstel , Investor Relations Manager +1 (954)-554-7932 brandon.bukstel@geniussports.com