Genius Sports Limited ( (GENI) ) has released its Q4 earnings. Here is a breakdown of the information Genius Sports Limited presented to its investors.
Genius Sports Limited is a global leader in sports data, technology, and broadcast services, connecting sports, betting, and media industries through innovative solutions. The company recently reported its financial results for the fourth quarter and full year of 2024, highlighting significant growth in revenue and improvements in profitability metrics.
In 2024, Genius Sports achieved a 24% increase in annual revenue, reaching $511 million, and a substantial 61% rise in adjusted EBITDA, totaling $86 million. The company also reported a reduction in net loss by 26% year-over-year. Key drivers of revenue growth included a 29% increase in betting technology services and a 15% rise in media technology services.
The fourth quarter of 2024 saw a 38% year-over-year revenue increase, with notable contributions from betting technology and sports technology services. Adjusted EBITDA for the quarter surged by 171%, showcasing the company’s operational efficiency and strategic contract renewals. Genius Sports also expanded its technological offerings, including collaborations with major sports leagues and innovative broadcast solutions.
Looking ahead, Genius Sports anticipates continued growth in 2025, projecting a 21% increase in group revenue and a 46% rise in adjusted EBITDA. The company’s management remains optimistic about its strategic positioning and technological advancements, aiming for sustained success and profitability in the coming years.