Genius Sports Shares Pop On Q2 Earnings Beat

Genius Sports Shares Pop On Q2 Earnings Beat
  • Genius Sports Ltd GENI reported second-quarter FY22 sales growth of 27.3% year-on-year, to $71.12 million, beating the consensus of $65.26 million.
  • Segment Revenue: Betting Technology, Content & Services increased 10%, Media Technology, Content & Services jumped 88%, and Sports Technology & Services grew 57%.
  • The loss from operations narrowed to $(39.7) million.
  • The company held $175 million in cash and equivalents as of June 30, 2022.
  • Adjusted EBITDA of $8.4 million rose 61.1% Y/Y, with the margin expanding from 9.3% to 11.8%.
  • EPS loss of $(0.02) beat the analyst consensus of $(0.09).
  • Outlook: Genius Sports reaffirms FY22 group revenue guidance of $340 million and adjusted EBITDA of about $15 million.
  • For FY23, the company expects group revenue of $430 million - $440 million and adjusted EBITDA of $40 million - $50 million.
  • Price Action: GENI shares are trading higher by 4.19% at $4.73 on the last check Tuesday.

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