SBC News Voice of the Sports Betting Industry
Genius Sports Limited has boosted company accounts with group revenues of $144m in Q1 2025.
The latest financial report from the gambling technology provider saw a 20.3% YoY growth in revenue (Q1 2024: $120m).
Within that bracket, the firm’s Betting Technology, Content and Services segment saw the biggest growth, climbing with 44.2% YoY to $106m ($74m).
Sports Technology and Services followed second in terms of growth, bringing 11.7% YoY more for a total of $12m ($10m).
Though coming in second in terms of total group revenue, Media Technology, Content and Services were down 27% YoY “driven by lower programmatic and social advertising services”, raking in $26m for the period ending 31 March 2025 ($35m).
Gross profit increased to $35m from last year’s first quarter ending at $13m. Total Group revenue of $144m contributed to a 187.5% increase in the Adjusted EBITDA of $20m ($6.9m).
Q1 net loss stood at $8.2m and 67.9% YoY difference compared to the same period last year ($25m).
In terms of operating expenses (unaudited), sales and marketing spend grew to $11m from $8.4m the year prior. Research and development expenses were $9m compared to the $6.7m in Q1 2024. Total operating expenses increased to $56m ($37m).
Quarterly business highlights saw Genius Sports’ advertising platform, FANHub, partnering with Deep Blue Sports and Entertainment for the wider engagement of women’s sports fans. Another core market development saw the launch of Data Zone – a data-driven broadcast mode covering Ligue 1 McDonald’s.
Genius Sports looking ahead with confidence
Outside of the reporting period, Genius Sports has just launched its BetVision soccer solution as well, which aims to optimise the in-play betting experience for audiences through real-time data overlays within live broadcasts.
The company’s expectations for the rest of the year includes generating around $620m and Adjusted EBITDA of approximately $125m by 31 December.
Given the successful quarter, the Genius Sports Board of Directors approved a share repurchase program for the repurchasing of up to $100m in ordinary shares, with the Board voting confidence in the long-term profitability of the business.
Mark Locke, Genius Sports’ Co-Founder and CEO, concluded: “This quarter demonstrates the strong execution of our strategic objectives, as we continue our technology distribution, product innovation, and commercial momentum.
“Our largely fixed cost base, coupled with several durable growth drivers, reinforces our confidence in delivering sustainable growth, profitability, and cash flow in 2025 and beyond.”
