Genius Sports reports 70 revenue growth for Q3

Genius Sports has announced its Q3 financial results ending September 2021

Genius Sports has announced its Q3 financial results conclusion Sep 2021. The keep company saw radical revenue develop by over 70% year-on-year in the third billet of 2021, reaching highs of $69.1m, driven past maturation crosswise all segments of the business. On a constant quantity currency base, Genius' revenue increased by 60%.

Betting engineering saw revenue acquire 48% to $43.6m, with this driven past terms increases on get renewals and renegotiations with existing customers, livelihood of unexampled customers and increased utilisation of content.

Revenue from sports technology increased 159% to $11.6m, and media engineering saw revenue step-up 114% to $13.9m.

Genius incurred a diminish in its grouping EBITDA, which was negative $0.4m, with revenue ontogeny offset printing past strategic investments and data rights costs.

Mark Locke, Genius Sports Co-Founder and CEO, said: “Genius Sports’ ontogeny is accelerating at an unprecedented take down that far surpasses our archetype expectations. We are capturing more opportunities than ever so before, underpinned by the liberal acceptation of functionary information by the intact ecosystem.

“While only months into our foremost NFL season, we are still more sure-footed of the long-term prospects of the partnership. We are transforming the planetary sports betting marketplace through and through our progressive investment inwards technological innovation, and we will go on to manage so for years ahead.”

During its Q3 period, Genius proclaimed strategical partnerships to bring home the bacon NFL offerings to Caesars, DraftKings, Entain and BetMGM, Golden Nugget Online Gaming, Penn Interactive to power its Barstool Sportsbook, WynnBET and 888 to powerfulness its SI Sportsbook

Nick Taylor, Genius Sports CFO, added: “We’ve positioned the concern for continued success, giving us great confidence inward raising our 2021 revenue outlook.

“We foresee continued strong revenue ontogeny as the market place continues to spread out and evolve, piece preserving the choice to reinvest inwards the concern to fund strategic development initiatives and parkway long-term sustainability and scale.

“This betimes microscope stage of our growing oscillation presents a window of opportunity to place inward the future success of the business, and we’re excited to preserve building towards our strategical vision.”

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