(AsiaGameHub) – Genius Sports raised its full-year 2026 outlook after delivering a 30.5% increase in Q1 revenue, driven by growth in betting technology and media operations.
Revenue for the three months ending March 31, 2022, amounted to $188 million, compared with $144 million in Q1 2021, while adjusted EBITDA reached $41.7 million, marking a 21.3% year-on-year rise.
The company attributes its revenue growth to stronger customer relationships, long-term contracts, and increased demand for fan engagement and advertising solutions in live sports broadcasting.
Following the quarter’s conclusion, Genius completed its $1.2 billion acquisition of Legend and is confident it will strengthen its leadership in sports data, video and advertising, as well as iGaming.
Founder and CEO Mark Locke stated that the acquisition deepens the company’s presence in fan engagement and unlocks new monetisation opportunities across its ecosystem.
In Q1, the betting technology segment generated $46.2 million in revenue, up 33.3% from Q1 2021. The media technology segment also saw revenues grow to $41.7 million, a 21.7% increase over the same period in 2021, supported by expansion of GeniusIQ products and the launch of Moment Engine—an AI-powered offering.
Despite record revenue performance, the group faced rising operating losses, mainly due to acquisition-related expenses and foreign exchange fluctuations. For the quarter, Genius reported a net loss of $55.5 million.
Building on the Legend acquisition, Genius significantly upgraded its full-year guidance, now projecting total revenue of $990 million to $1.01 billion and adjusted EBITDA of $270 million to $280 million.
This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content.
AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.