The group informed that betting technology, content and services made up most of Genius’ revenue, up 25.2% year-on-year to US$110.6m. The company said this growth mostly came from existing customers.
Sports technology and services revenue was up 11.8% to US$16.1m, while media technology, content and services revenue almost doubled to US$23.1m.
The supplier’s costs of revenue came to $114.1m, resulting in a gross profit of US$35.7m, up 41.1%.
Genius founder and chief executive Mark Locke said the business’ performance was especially impressive given the effects of the novel coronavirus (Covid-19) pandemic in 2020.
“2020 was a landmark year for Genius, with outstanding performance amidst the challenges presented by the global pandemic. We have entered 2021 with great momentum, bolstered by our recently-completed merger with dMY II and NYSE listing, as well as our exclusive partnership with the NFL.,” said Locke
The announcement of the results comes after Genius went public through a merger with special acquisition company (SPAC) dMY Technology Group Inc. II. The details of the merger were first announced in October.
“I am more confident than ever about the opportunities ahead as we continue to leverage our unique technology and scale to grow alongside the rapidly expanding global sports, betting and media ecosystem,” Locke concluded.
Source: GMB
