Genius Sports' Q4 Highlights: 25% Revenue Growth, FY23 Outlook Cut, Foreign Currency Impact & More - Genius Sports (NYSE:GENI)

Genius Sports Ltd GENI reported fourth-quarter FY22 sales growth of 25.4% year-on-year to $105.34 million, beating the consensus of $104.35 million.
Segment Revenue: Betting Technology, Content & Services increased 21.5%, Media Technology, Content & Services jumped 50.4%, and Sports Technology & Services gained 8.6%.
Gross profit was $3.2 million versus the $(25.41) million loss a year ago. Loss from operations narrowed to $(44.8) million.
Adjusted EBITDA was $2.6 million with a margin of 2.5%. EPS loss was $(0.63) versus $(0.28) loss last year.
The company held $159 million in cash and equivalents as of Dec. 31, 2022.
Nick Taylor, Genius Sports CFO, said, "Our expectation of nearly tripling our Group Adj. EBITDA and generating free-cash-flow in the second half of 2023 is the direct result of a cost base that does not need to grow in-line with revenues moving forward."
Outlook: Genius Sports sees FY23 revenue of $391 million (consensus $391.16 million), down from its prior outlook of $430 million - $440 million. The company said its outlook reflects today's foreign exchange rates.
It sees Adjusted EBITDA of $41 million versus its prior outlook of $40 million - $50 million.
GENI sees Q1 revenue of $92 million (consensus $93.01 million) and Adjusted EBITDA of $3 million.
GENI forecasts $78 million, $97 million, and $124 million in revenue for Q2, Q3, and Q4, respectively.
Price Action: GENI shares are trading lower by 6.36% at $4.86 in premarket on the last check Friday.
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