Genius Sports Limited
Genius Sports Limited
03/04/2026 | Press release | Distributed by Public on 03/04/2026 06:00
Press release dated March 4, 2026 (Form 6-K)
Genius Sports Reports Fourth Quarter and Full-Year 2025 Results
Group Revenue and Adj. EBITDA Continue Accelerated Growth, Increasing 31% and 59%, Respectively in 2025, Representing a 20% Margin
Reaffirmed 2026 Standalone Guidance and Outlook For Legend Acquisition That Further Strengthens Genius' Strategic and Financial Profile
•
Group Revenue of $240.5m in Q4 and $669.5m in the full year 2025, increasing 37% and 31% year-over-year, respectively
•
Group Net Loss of $20.6m in Q4 and $111.6m in the full-year 2025, representing a year-over-year improvement of $7.6m and decline of $48.5m, respectively
•
Group Adj. EBITDA of $48.3m in Q4 and $136.2m in the full year 2025, increasing 49% and 59% year-over-year, respectively
•
Group Adj. EBITDA Margin of 20.1% in Q4 and 20.4% in the full year 2025, representing year-over-year margin expansion of 170bps and 360bps, respectively
•
Reaffirming standalone 2026 guidance of approximately $810-820m in Group Revenue and $180-190m in Group Adj. EBITDA
•
After giving effect to the acquisition of Legend, the combination is expected to achieve approximately $1.1b in Group Revenue, $320-330m in Group Adj. EBITDA with 50% Free Cash Flow conversion on a 2026 annualized pro forma basis
LONDON & NEW YORK, March 4, 2026 - Genius Sports Limited (NYSE:GENI) ("Genius Sports" 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 fourth quarter and full year ended December 31, 2025.
"2025 was a year of accelerated Group Revenue growth and record Group Adj. EBITDA for Genius Sports. Our Betting business continues to outpace the broader industry, while our Media business is reaching a clear inflection point, with accelerating momentum and growing demand from the world's largest brands and agencies," said Mark Locke, Genius Sports Co-Founder and CEO. "Upon completion of the acquisition of Legend, we will further strengthen our position at the intersection of official data, fan identity, and real-time intent - continuing to build a scaled, cash-generative technology platform."
|
$ in thousands |
Q425 |
Q424 |
% |
||||||||||
|
Group Revenue |
240,496 |
175,531 |
37.0 |
% |
|||||||||
|
Betting Technology, Content & Services |
167,463 |
128,210 |
30.6 |
% |
|||||||||
|
Media Technology, Content & Services |
58,180 |
29,759 |
95.5 |
% |
|||||||||
|
Sports Technology & Services |
14,853 |
17,562 |
(15.4 |
%) |
|||||||||
|
Group Net Loss |
(20,621 |
) |
(28,212 |
) |
26.9 |
% |
|||||||
|
Group Adjusted EBITDA |
48,336 |
32,373 |
49.3 |
% |
|||||||||
|
Group Adjusted EBITDA Margin |
20.1 |
% |
18.4 |
% |
170 |
bps |
|||||||
|
$ in thousands |
FY25 |
FY24 |
% |
||||||||||
|
Group Revenue |
669,489 |
510,894 |
31.0 |
% |
|||||||||
|
Betting Technology, Content & Services |
471,531 |
354,856 |
32.9 |
% |
|||||||||
|
Media Technology, Content & Services |
144,463 |
105,313 |
37.2 |
% |
|||||||||
|
Sports Technology & Services |
53,495 |
50,725 |
5.5 |
% |
|||||||||
|
Group Net Loss |
(111,581 |
) |
(63,040 |
) |
(77.0 |
%) |
|||||||
|
Group Adjusted EBITDA |
136,249 |
85,739 |
58.9 |
% |
|||||||||
|
Group Adjusted EBITDA Margin |
20.4 |
% |
16.8 |
% |
360 |
bps |
|||||||
Q4 2025 Financial Highlights
•
Group Revenue: Group revenue increased $65.0 million year-over-year to $240.5 million, representing 31% growth.
o
Betting Technology, Content & Services: Revenue increased 31% year-over-year to $167.5 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 was also attributable to new customer acquisitions.
o
Media Technology, Content & Services: Revenue increased 96% year-over-year to $58.2 million, driven by growth in the Americas region, primarily for programmatic advertising services, a result of new partnerships with brands and advertising agencies such as PMG and Publicis Sports.
o
Sports Technology & Services: Revenue of $14.9 million, primarily driven by sales of products built on GeniusIQ technology.
•
Group Net Loss: Group net loss was ($20.6 million) in the fourth quarter ended December 31, 2025, representing a $7.6 million improvement compared to the ($28.2 million) loss in the fourth quarter ended December 31, 2024.
•
Group Adjusted EBITDA: Group Adjusted (non-GAAP) EBITDA was $48.3 million in the quarter, representing a $16.0 million increase from the $32.4 million reported in the fourth quarter ended December 31, 2024 and 170 basis points of margin expansion.
Full Year 2025 Financial Highlights
•
Group Revenue: Group revenue increased $158.6 million year-over-year to $669.5 million.
o
Betting Technology, Content & Services: Revenue increased $116.7 million year-over-year to $471.5 million, representing 33% growth. This increase was 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 was also attributable to new customer acquisitions.
o
Media Technology, Content & Services: Revenue increased $39.2 million year-over-year to $144.5 million, representing 37% growth. This increase was driven by growth in the Americas region, a result of new partnerships with brands and advertising agencies such as PMG and Publicis Sports.
o
Sports Technology & Services: Revenue increased $2.8 million year-over-year to $53.5 million, representing 5% growth. This increase was driven by the sales of products built on GeniusIQ technology.
•
Group Net Loss: Group net loss was ($111.6 million) in the full year ended December 31, 2025, representing a $48.5 million decline compared to the ($63.0 million) loss in the full year ended December 31, 2024. This was primarily driven by a nonrecurring increase in stock-based compensation related to the warrants issued to the NFL, pursuant to the extended License Agreement as well as one-time equity awards issued to management and employees. This was also attributable to a nonrecurring increase in litigation and related costs.
•
Group Adjusted EBITDA: Group Adjusted (non-GAAP) EBITDA was $136.2 million in the full year ended December 31, 2025, representing a $50.5 million increase from the $85.7 million reported in the full year ended December 31, 2024 and 360 basis points of margin expansion.
Q4 2025 Business Highlights
•
Announced a global partnership with Publicis Sports to reshape the future of fan engagement through FANHub
•
Powered the EA SPORTS Madden NFL Cast on Peacock on Thanksgiving Night - a data-driven alternate broadcast merging live NFL action with a video game-style presentation, enabled by GeniusIQ
•
Announced partnership with CBF to implement Semi-Automated Offside Technology across Brasileiro Série A & Copa do Brasil
•
After the reporting period:
o
Entered into definitive agreement to acquire Legend, creating a digital sports and gaming media powerhouse
o
Partnered with WPP Media to pioneer holistic sports media advertising intelligence and launch WPP Brand Sports Momentum Score
o
Announced new partnership with Magnite, embedding official live sports moments into scaled programmatic infrastructure
o
Launched exclusive augmented advertising platform with NBC Sports Regional Networks, unlocking real-time AI-powered contextual advertising on NBA broadcasts
o
Launched BetVision for Tennis in partnership with Infront to enhance live betting experiences
Financial Outlook
Genius Sports expects to generate Group Revenue of approximately $810-820 million and Group Adjusted EBITDA of approximately $180-190 million in 2026 on a standalone basis. This implies year-over-year Group Revenue and Adj. EBITDA growth of 22% and 36%, respectively, at the midpoint.
After giving effect to the acquisition of Legend, the combination is expected to achieve approximately $1.1b in Group Revenue, $320-330m in Group Adj. EBITDA with 50% Free Cash Flow conversion on a 2026 annualized pro forma basis. The transaction is expected to close in the second quarter ending June 30, 2026.
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 |
Year Ended |
|||||||||||||||
|
December 31, |
December 31, |
|||||||||||||||
|
2025 |
2024 |
2025 |
2024 |
|||||||||||||
|
Revenue |
$ |
240,496 |
$ |
175,531 |
$ |
669,489 |
$ |
510,894 |
||||||||
|
Cost of revenue |
172,063 |
128,081 |
515,647 |
382,187 |
||||||||||||
|
Gross profit |
68,433 |
47,450 |
153,842 |
128,707 |
||||||||||||
|
Operating expenses: |
||||||||||||||||
|
Sales and marketing |
16,805 |
9,880 |
56,162 |
37,411 |
||||||||||||
|
Research and development |
8,472 |
4,893 |
31,087 |
24,576 |
||||||||||||
|
General and administrative |
63,267 |
40,156 |
207,972 |
123,011 |
||||||||||||
|
Transaction expenses |
4,497 |
(278 |
) |
9,949 |
2,246 |
|||||||||||
|
Total operating expenses |
93,041 |
54,651 |
305,170 |
187,244 |
||||||||||||
|
Loss from operations |
(24,608 |
) |
(7,201 |
) |
(151,328 |
) |
(58,537 |
) |
||||||||
|
Interest (expense) income, net |
(861 |
) |
(80 |
) |
(6 |
) |
921 |
|||||||||
|
Gain (loss) on disposal of assets |
7 |
(129 |
) |
33 |
(147 |
) |
||||||||||
|
Gain on fair value remeasurement of contingent consideration |
- |
1,024 |
- |
1,024 |
||||||||||||
|
Gain (loss) on foreign currency |
1,845 |
(26,709 |
) |
33,567 |
(9,519 |
) |
||||||||||
|
Total other income (expense) |
991 |
(25,894 |
) |
33,594 |
(7,721 |
) |
||||||||||
|
Loss before income taxes |
(23,617 |
) |
(33,095 |
) |
(117,734 |
) |
(66,258 |
) |
||||||||
|
Income tax benefit (expense) |
2,194 |
3,895 |
2,496 |
(509 |
) |
|||||||||||
|
Gain from equity method investment |
802 |
988 |
3,657 |
3,727 |
||||||||||||
|
Net loss |
$ |
(20,621 |
) |
$ |
(28,212 |
) |
$ |
(111,581 |
) |
$ |
(63,040 |
) |
||||
|
Loss per share attributable to common stockholders: |
||||||||||||||||
|
Basic and diluted |
$ |
(0.08 |
) |
$ |
(0.12 |
) |
$ |
(0.44 |
) |
$ |
(0.27 |
) |
||||
|
Weighted average common stock outstanding: |
||||||||||||||||
|
Basic and diluted |
259,563,131 |
229,654,827 |
254,757,802 |
229,509,169 |
||||||||||||
Genius Sports Limited
Condensed Consolidated Balance Sheets
(Amounts in thousands, except share and per share data)
|
(Unaudited) |
||||||||
|
December 31, |
December 31, |
|||||||
|
2025 |
2024 |
|||||||
|
ASSETS |
||||||||
|
Current assets: |
||||||||
|
Cash and cash equivalents |
$ |
280,559 |
$ |
110,213 |
||||
|
Restricted cash, current |
- |
25,026 |
||||||
|
Accounts receivable, net |
130,340 |
85,491 |
||||||
|
Contract assets |
57,358 |
30,632 |
||||||
|
Prepaid expenses |
66,150 |
27,333 |
||||||
|
Other current assets |
15,276 |
9,902 |
||||||
|
Total current assets |
549,683 |
288,597 |
||||||
|
Property and equipment, net |
32,322 |
19,016 |
||||||
|
Intangible assets, net |
144,203 |
115,539 |
||||||
|
Operating lease right-of-use assets |
28,321 |
7,488 |
||||||
|
Goodwill |
338,049 |
326,011 |
||||||
|
Deferred tax asset |
1,643 |
1,192 |
||||||
|
Investments |
32,585 |
31,717 |
||||||
|
Other assets |
3,481 |
2,706 |
||||||
|
Total assets |
$ |
1,130,287 |
$ |
792,266 |
||||
|
LIABILITIES AND SHAREHOLDERS' EQUITY |
||||||||
|
Current liabilities: |
||||||||
|
Accounts payable |
$ |
112,246 |
$ |
36,661 |
||||
|
Accrued expenses |
118,017 |
79,172 |
||||||
|
Deferred revenue |
97,098 |
73,388 |
||||||
|
Current debt |
- |
19 |
||||||
|
Operating lease liabilities, current |
5,024 |
3,003 |
||||||
|
Other current liabilities |
20,498 |
9,327 |
||||||
|
Total current liabilities |
352,883 |
201,570 |
||||||
|
Deferred tax liability |
7,186 |
13,802 |
||||||
|
Operating lease liabilities, non-current |
25,471 |
4,489 |
||||||
|
Other liabilities |
20,272 |
- |
||||||
|
Total liabilities |
405,812 |
219,861 |
||||||
|
Shareholders' equity |
||||||||
|
Common stock, $0.01 par value, unlimited shares authorized, 250,412,239 shares issued and 246,306,291 shares outstanding at December 31, 2025; unlimited shares authorized, 215,261,974 shares issued and 211,156,026 shares outstanding at December 31, 2024 |
2,504 |
2,153 |
||||||
|
B Shares, $0.0001 par value, 22,500,000 shares authorized, 10,000,000 shares issued and outstanding at December 31, 2025; 22,500,000 shares authorized, 18,500,000 shares issued and outstanding at December 31, 2024 |
1 |
2 |
||||||
|
Additional paid-in capital |
1,992,257 |
1,700,065 |
||||||
|
Treasury stock, at cost, 4,105,948 shares at December 31, 2025 and December 31, 2024 |
(17,653 |
) |
(17,653 |
) |
||||
|
Accumulated deficit |
(1,199,108 |
) |
(1,087,527 |
) |
||||
|
Accumulated other comprehensive loss |
(53,526 |
) |
(24,635 |
) |
||||
|
Total shareholders' equity |
724,475 |
572,405 |
||||||
|
Total liabilities and shareholders' equity |
$ |
1,130,287 |
$ |
792,266 |
||||
Genius Sports Limited
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Amounts in thousands)
|
Year Ended December 31, |
||||||||
|
2025 |
2024 |
|||||||
|
Cash Flows from operating activities: |
||||||||
|
Net loss |
$ |
(111,581 |
) |
$ |
(63,040 |
) |
||
|
Adjustments to reconcile net loss to net cash provided by operating activities: |
||||||||
|
Depreciation and amortization |
70,519 |
72,572 |
||||||
|
(Gain) loss on disposal of assets |
(33 |
) |
147 |
|||||
|
Gain on fair value remeasurement of contingent consideration |
- |
(1,024 |
) |
|||||
|
Stock-based compensation |
148,542 |
54,475 |
||||||
|
Non-cash consideration, net |
(2,461 |
) |
(2,283 |
) |
||||
|
Non-cash interest expense, net |
1,482 |
- |
||||||
|
Non-cash lease expense |
4,916 |
4,604 |
||||||
|
Loss on lease abandonment and impairment |
195 |
- |
||||||
|
Amortization of contract costs |
1,426 |
1,280 |
||||||
|
Deferred income taxes |
(7,068 |
) |
(2,724 |
) |
||||
|
Allowance for expected credit losses |
1,908 |
1,630 |
||||||
|
Gain from equity method investment |
(3,657 |
) |
(3,727 |
) |
||||
|
(Gain) loss on foreign currency remeasurement |
(33,296 |
) |
9,238 |
|||||
|
Changes in operating assets and liabilities |
||||||||
|
Effect of business combinations |
(4,399 |
) |
- |
|||||
|
Accounts receivable |
(44,296 |
) |
(15,860 |
) |
||||
|
Contract assets |
(26,726 |
) |
8,170 |
|||||
|
Prepaid expenses |
(30,923 |
) |
(101 |
) |
||||
|
Other current assets |
(5,998 |
) |
(754 |
) |
||||
|
Other assets |
(1,475 |
) |
(1,014 |
) |
||||
|
Accounts payable |
75,585 |
(20,718 |
) |
|||||
|
Accrued expenses |
31,345 |
22,841 |
||||||
|
Deferred revenue |
23,711 |
27,603 |
||||||
|
Other current liabilities |
2,021 |
(4,727 |
) |
|||||
|
Operating lease liabilities |
(3,342 |
) |
(4,727 |
) |
||||
|
Net cash provided by operating activities |
86,395 |
81,861 |
||||||
|
Cash flows from investing activities: |
||||||||
|
Purchases of property and equipment |
(21,851 |
) |
(12,293 |
) |
||||
|
Capitalization of internally developed software costs |
(56,967 |
) |
(51,963 |
) |
||||
|
Distributions from equity method investments |
2,787 |
1,561 |
||||||
|
Purchases of intangible assets |
(2,076 |
) |
- |
|||||
|
Acquisition of business, net of cash acquired |
(14,841 |
) |
- |
|||||
|
Proceeds from disposal of assets |
40 |
10 |
||||||
|
Net cash used in investing activities |
(92,908 |
) |
(62,685 |
) |
||||
|
Cash flows from financing activities: |
||||||||
|
Proceeds from issuance of common shares, net of equity issuance costs |
144,000 |
- |
||||||
|
Repayment of loans and mortgage |
(21 |
) |
(22 |
) |
||||
|
Repayment of promissory notes |
- |
(7,575 |
) |
|||||
|
Net cash provided by (used in) financing activities |
143,979 |
(7,597 |
) |
|||||
|
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
7,854 |
(2,133 |
) |
|||||
|
Net increase in cash, cash equivalents and restricted cash |
145,320 |
9,446 |
||||||
|
Cash, cash equivalents and restricted cash at beginning of period |
135,239 |
125,793 |
||||||
|
Cash, cash equivalents and restricted cash at end of period |
$ |
280,559 |
$ |
135,239 |
||||
|
Supplemental disclosure of cash activities: |
||||||||
|
Cash paid during the period for interest |
$ |
3,967 |
$ |
1,224 |
||||
|
Cash paid during the period for income taxes |
$ |
4,606 |
$ |
2,478 |
||||
Genius Sports Limited
Reconciliation of U.S. GAAP Net loss to Adjusted EBITDA
(Unaudited)
(Amounts in thousands)
|
Three Months Ended |
Year Ended |
|||||||||||||||
|
December 31, |
December 31, |
|||||||||||||||
|
2025 |
2024 |
2025 |
2024 |
|||||||||||||
|
Net loss |
$ |
(20,621 |
) |
$ |
(28,212 |
) |
$ |
(111,581 |
) |
$ |
(63,040 |
) |
||||
|
Adjusted for: |
||||||||||||||||
|
Net, interest expense (income) |
861 |
80 |
6 |
(921 |
) |
|||||||||||
|
Income tax (benefit) expense |
(2,194 |
) |
(3,895 |
) |
(2,496 |
) |
509 |
|||||||||
|
Amortization of acquired intangibles (1) |
2,517 |
2,183 |
9,453 |
24,136 |
||||||||||||
|
Other depreciation and amortization (2) |
17,911 |
13,522 |
62,492 |
49,716 |
||||||||||||
|
Stock-based compensation (3) |
32,327 |
21,098 |
160,493 |
55,657 |
||||||||||||
|
Transaction expenses |
4,497 |
(278 |
) |
9,949 |
2,246 |
|||||||||||
|
Litigation and related costs (4) |
13,273 |
1,932 |
36,786 |
7,575 |
||||||||||||
|
Gain on fair value remeasurement of contingent consideration |
- |
(1,024 |
) |
- |
(1,024 |
) |
||||||||||
|
(Gain) loss on foreign currency |
(1,845 |
) |
26,709 |
(33,567 |
) |
9,519 |
||||||||||
|
Other (5) |
1,610 |
258 |
4,714 |
1,366 |
||||||||||||
|
Adjusted EBITDA |
$ |
48,336 |
$ |
32,373 |
$ |
136,249 |
$ |
85,739 |
||||||||
(1)
Includes amortization of intangible assets generated through business acquisitions (inclusive of amortization for marketing products, 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 developed 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 twelve months ended December 31, 2025 and 2024, legal proceedings included Sportscastr litigation, dMY litigation, and Volleystation litigation (see Note 17 "Commitments and Contingencies" to the Company's condensed consolidated financial statements included in the Company's Current Report on Form 6-K furnished with the U.S. Securities and Exchange Commission (the "SEC") on November 4, 2025), and Spirable litigation (see Item 3.D "Risks Related to Legal Matters and Regulations" in the Company's Annual Report on Form 20-F filed with the SEC on March 14, 2025 for further details). 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, one-time marketing costs, loss on impairment of property leases, professional fees for finance transformation project, gain/loss on disposal of assets, and expenses incurred related to earn-out payments on historical acquisitions.
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 fourth quarter results.
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 ecosystem. As the operating system of modern sport, our technology is used in over 150 countries worldwide, creating highly immersive products that enrich fan experiences across the entire sports industry.
We are the trusted partner to over 1,000 sports organizations, including many of the world's largest leagues, teams, sportsbooks, 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 personalized marketing activations, we connect the entire sports value chain from the rights holder all the way through to the fan.
Non-GAAP Financial Measures
Genius Sports Limited published this content on March 04, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on March 04, 2026 at 12:00 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]