Genius Sports Clocks 60% Revenue Growth In Q1 Aided By Betting, Sports, Media Technology Segments
- Genius Sports Limited (NYSE:GENI) reported first-quarter FY22 revenue growth of 59.9% year-on-year to $85.9 million, beating the consensus of $77.9 million.
- Segments: Betting Technology, Content & Services revenue grew 27.6% Y/Y to $49.7 million.
- Sports Technology & Services revenue rose 123.3% Y/Y to $12.1 million.
- Media Technology, Content & Services revenue increased 157.3% Y/Y to $24.1 million.
- EPS loss of $(0.21) missed the consensus of $(0.15).
- Genius Sports held $174.1 million in cash and equivalents.
- Outlook: Genius Sports reiterated the FY22 revenue outlook of $340 million, below the consensus of $342.9 million.
- Genius Sports also reaffirmed FY23 revenue of $430 million - $440 million versus the consensus of $437.4 million.
- Price Action: GENI shares traded higher by 4.69% at $2.90 on the last check Thursday.