“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 Mark Locke, GSL Co-Founder and CEO.
According to the company, revenue is set to reach US$340m for the year thanks in part to continued growth as 2022 goes on. While revenue for Q1 is projected to be US$78m and for Q2 this total is just US$68m, the total then rises to US$85m in Q3 and $109m in Q4, a busy period that will include both the NFL season and football’s World Cup.
Betting technology, content and services will make up the majority of revenue, bringing in US$216m. Sprts technology and services will bring in US$49m while projected revenue from media technology and services is US$75m.
Like revenue, earnings are also expected to grow as the year goes on. The business expects to be EBITDA negative by US$5m in Q1, before recording a total of in US$8m in Q2, US$9m in Q3 and US$3m in Q4.
In 2023, the outlook is more optimistic, with revenue projected to fall between US$430m and US$440m, while EBITDA is expected to reach between US$40m and U$50m.
“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,” Locke added.
Source: GMB
