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Genius Sports has revealed that its revenue reached $176m in Q4 2024 and $511m in the full year, increasing 38% and 24% year-over-year, respectively as leadership views a path to long-term profitability.
Publishing its financial results for its fiscal fourth quarter and full year 2024, the sports data and technology company highlighted a net loss of $28m in Q4 and $63m in the full-year, narrowing on 2023 respective losses of $38m and $85m.
Breaking it down, full-year group revenue was up 24% YoY, with a total of $510.9m ending up in company accounts – divided into three segments.
Betting Technology, Content & Services was the most valuable segment, bringing in $354.9m – up 29% YoY. Media Technology, Content & Services revenue was up 15% YoY ($105.3m), while Sports Technology & Services went up 8% YoY to $50.7m.
Despite growth across all three segments, the group reported a net loss of $28m for the fourth quarter (Q423: $12m) and $63m for the full-year 2024 (FY2023: $85m), with both figures representing improvements of 27% and 26% on previous comparatives, respectively.
The group’s adjusted EBITDA for Q4 came in at $32m, a 171% increase on Q4 2023 ($11.9m), while for FY24 this figure stood at $86m, a 61% increase on 2023’s full-year results ($53m). This led to a group adjusted EBITDA margin of 18.4% for Q4 and 16.8% for the full year.
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.”
The group produced year-end cash, cash equivalents and restricted cash of $135m, showing a $9m increase from the previous year-end (FY2024: $126m). It also achieved $82m of cash flow from operating activities in the full year 2024, a 550% increase from the year prior.
Year trading saw Genius Sports accounts book an increase in NYSE stock-based compensation rewards of $55M up from $35M in FY2023, impacting bottom-line earnings and profitability.
Highlights across the quarter saw the firm launch Next Gen Stats-powered in-stadium highlights through a new collaboration with the Los Angeles Rams, as well as a free-to-play predication game with Bowl Season.
Genius Sports also highlighted its move to power EA Sports Madden NFL Cast, an immersive, data-driven alternate broadcast streamed live on Peacock.
Additionally, it implemented player tracking technology to France’s Ligue de Football Professionnel (LFP).
Looking ahead to 2025, Genius Sports expects to generate group revenue of approximately $620m and group adjusted EBITDA of approximately $125m in full-year 2025, implying year-over-year group revenue and adjusted EBITDA growth of 21% and 46%, respectively.
