Genius Sports reports strong Q4 and Full-Year 2024 results: revenue up 38%
Genius Sports reported 38% Q4 full-year revenue growth, with the 'betting technology content & services' segment showing the strongest performance.
Key points:
– Genius Sports reported a 38% year-over-year increase in Q4 2024 group revenue, totalling $175.5m
– The company’s full-year 2024 group adjusted EBITDA rose by 61% to $85.7m, with an improved EBITDA margin of 16.8%
Genius Sports has announced its financial results for the fourth quarter and full year ending 31 December 2024, reporting growth across a number of key financial metrics.
In the fourth quarter of 2024, Genius Sports achieved group revenue of $175.5m, marking a 38% increase compared to $127.2m in the same period of 2023. This growth was primarily driven by the ‘betting technology, content & services’ segment, which saw a 48% year-over-year revenue increase to $128.2m.
The ‘media technology, content & services’ segment contributed $29.8m, a 4% rise from the previous year, while the ‘sports technology & services’ segment reported a 47% increase, reaching $17.6m.
The company’s group net loss for Q4 2024 was $28.2m, an improvement from the $38.5m loss recorded in Q4 2023.
Group adjusted EBITDA surged by 171% year-over-year to $32.4m, up from $12m, resulting in an adjusted EBITDA margin of 18.4% – a 900 basis point improvement over the prior year’s quarter.
For the full year 2024, Genius Sports reported group revenue of $510.9m, a 24% increase from $413m in 2023.
Again, it was the ‘betting technology, content & services’ segment that led this growth with a 29% rise to $354.9m.
The ‘media technology, content & services’ segment also experienced a 15% increase, totalling $105.3m, while the ‘sports technology & services’ segment grew by 8% to $50.7m.
Good to know: Looking ahead to 2025, Genius Sports projects group revenue of approximately $620m, indicating a 21% year-over-year growth. The company also anticipates achieving a group adjusted EBITDA margin of 20%
The company’s group net loss for the full year narrowed to $63m, a 26% improvement from the $85.5m loss reported in 2023.
Group adjusted EBITDA reached $85.7m, up 61% from $53.3m in the previous year, with an adjusted EBITDA margin of 16.8%, reflecting a 390 basis point enhancement.
As of 31 December 2024, Genius Sports reported cash, cash equivalents and restricted cash totalling $135m – a $9m increase from the prior year-end.
The company generated $82m in cash flow from operating activities during 2024, a 5.5-fold increase compared to the previous year, underscoring its improved financial position.
Commenting on these results, Mark Locke, Genius Sports Co-Founder and CEO stated: “2024 was a defining year for commercial execution, with the renewal of key contracts and reinforcement of our solid infrastructure that lays the foundation for sustainable growth and profitability over the next several years.
“We have consistently exceeded expectations, bolstered our technology advantage and strengthened our balance sheet, now positioning Genius Sports for continued success in 2025 and a clear path to achieve greater scale.”
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