Industry News

Genius Sports Reports First Quarter 2022 Results

Published

3 years ago

May 17, 2022

Niji Narayan

Reading Time: < 1 minute

Genius Sports has announced the financial results for its fiscal 2022 first quarter ended March 31, 2022.

Highlights

Delivered Group Revenue of $85.9m, outperforming first quarter outlook by 10%.
Group Adjusted EBITDA of ($2.9m), exceeding first quarter outlook by 42%.
Reaffirmed 2022 Group Revenue and Group Adjusted EBITDA outlook of $340m and $15m, respectively, and 2023 outlook of $430m to $440m and $40m to $50m, respectively.

“Our strong first quarter is a result of successful execution. We began 2022 with a comprehensive Investor Day, outlining our strategic plan and underlying assumptions supporting our financial outlook. Our financial and operational achievements in the quarter demonstrate our ability to deliver on that plan and increase our competitive advantages through unique and proven technology,” Mark Locke, Co-Founder and CEO of Genius Sports, said.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.