Of the total revenue informed, US$39m came from betting technology, up 42.1%; US$9.4m was generated from media technology (a 127.0% increase); and sports technology contributed US$5.4m.
Gross profit also increased 76.6% to US$13.6m, whilst net operating profit decreased 60.2% to £3.3m. Adjusted EBITDA saw a 414% year on year increase to US$9.3m. operating losses decreased 52.3% to US$3.1m.
Following the successful quarter, Genius Sports raised its reVenue guidance by 35%, from US$190m to between US$250m and US$260m.
“We delivered superb results in the first quarter of 2021, demonstrating our continued excellent momentum and solid execution of strategic commitments,” said Genius co-founder and CEO Mark Locke.
“There is a significant opportunity to utilize our leading portfolio of official sports data, supported by our unique technology, scale and growing network of industry partners,” Locke added.
“Our strategy of powering the global sports data ecosystem has supported our growth in the quarter, and we’re confident in our ability to continuously improve our end-to-end solution and deliver on our increased guidance for the year,” Locke concluded.
Source: iGB
