Genius Sports Limited reported a fourth‑quarter revenue of $240.5 million, up 37% from $175.5 million in Q4 2024, and a full‑year revenue of $669.5 million, a 31% increase over $510.9 million in 2024. The growth was driven by a 30.6% rise in Betting revenue to $167.5 million and a 95.5% jump in Media revenue to $58.2 million, while Sports revenue fell 15% to $34.8 million.
Adjusted EBITDA rose to $48.3 million in Q4, a 49% year‑over‑year increase from $32.4 million in Q4 2024, and to $136.2 million for the year, up 59% from $85.7 million in 2024. The margin expanded to 20.1% in Q4 from 18.4% in the prior year, reflecting higher mix of high‑margin Media contracts and improved operational leverage as revenue scales.
The company posted a non‑GAAP loss per share of $0.03 in Q4, missing the consensus estimate of $0.02, and a net loss of $20.6 million, compared with a $28.2 million loss in Q4 2024. The widening loss was largely attributable to non‑recurring stock‑based compensation related to NFL warrants and one‑time equity awards, as well as increased litigation costs.
Management reaffirmed its 2026 guidance of $810‑$820 million in revenue and $180‑$190 million in adjusted EBITDA, while noting that the midpoint of $815 million falls below the analyst consensus of approximately $850 million. The guidance reflects confidence in continued demand for Betting and Media services, and the anticipated completion of the Legend acquisition in Q2 2026, which is expected to add roughly $400 million in annualized revenue and $70 million in adjusted EBITDA.
Investors reacted to the earnings with concern over the EPS miss and the widening net loss, despite the strong top‑line growth and margin expansion. The guidance, while unchanged, was viewed as modest relative to analyst expectations, adding to the market’s focus on the company’s profitability trajectory.
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