Genius Sports Beats Revenue Forecast, Stock Jumps Nearly 10%

Genius Sports reported second‑quarter revenue of $196 million, surpassing its own guidance of $185 million and analyst expectations. The company posted a net loss of $77 million, wider than the prior year’s $54 million loss and deeper than the $0.08‑per‑share shortfall analysts had forecast, but investors focused on the revenue beat and growth spending.

CEO and founder Mark Locke said the firm is benefitting from “greater advertiser value on our combination of official data and audience, new growth avenues in prediction markets, and a core betting business that continues to outperform.” The company’s recent acquisition of the sports‑media network Legend contributed to higher transaction‑related expenses.

Guidance for the full year was raised, with expected revenue just over $1 billion (about $1.03 billion) and adjusted EBITDA projected at $285‑$295 million, up from the prior $270‑$280 million range. Following the earnings release, Genius Sports’ shares rose almost 10% during the week.