Genius Sports’ standing as a data and technology supplier to some of the world’s biggest sports tournaments like the Premier League, NFL and NBA continues to cut away at the company’s net loss.
The London-headquartered sportstech multinational closed 2024 with group revenue up 24% to $510.9m (2023: $413m) with adjusted EBITDA up 61% to $85.8m (£53.3m), with gains made across its three core verticals.
This helped Genius edge closer towards profitability as its net loss fell 26% from $85.5m to $63m. The year-round positive performance was felt in the fourth quarter of the year also, with revenue up 38% to $175.5m ($127.2m), EBITDA up 170% to $32.4m ($12m) and net loss down 27% to $28.2m ($38.5m).
Flagship partnerships for the company which have proven long-term revenue generators include the Premier League and English Football League (EFL), which Genius Sports is the main data and tech partner of via its deal with FootballDataCo (FDC).
Notable NFL-related developments in Q4 included a next gen stats highlights project with the LA Rams and the ‘EA Sports Madden NFL Cast’ via NBC’s streaming platform Peacock. Its deal with the NBA, meanwhile, saw the launch of the NBA 2K25 Data Cast for the 2024 Emirates NBA Cup.
Mark Locke, Genius Sports Co-Founder and CEO, said: “2024 was a defining year for commercial execution, with the renewal of key contracts and reinforcement of our solid infrastructure that lays the foundation for sustainable growth and profitability over the next several years.
“We have consistently exceeded expectations, bolstered our technology advantage, and strengthened our balance sheet, now positioning Genius Sports for continued success in 2025 and a clear path to achieve greater scale.”
Betting data demand drives growth
Segment by segment, the betting technology, content and services sector saw revenue rise 30% from $274.2m to $354.9m at the end of the year. This was followed by media tech, content and service, with revenue up 15% to $105.3m ($91.6m) and sports tech and services, up 8% to $50.7m ($47.1m).
The betting tech segment also stood as the major growth driver in Q4, with revenue up 48% from $86.7m to $128m. In contrast to full year performance, sports tech was the segment with the second largest growth margin, up 47% to $17.6m ($12m) while media tech saw growth of 4% to $29.8m ($28.5m).
Based on previous year trends, in which the company has been consistently able to gain revenue while cutting away at losses, Genius expects the successes of 2024 to be replicated in 2025.
The NYSE firm projects group revenue of $620m and adjusted EBITDA of $125m at the end of 2025, suggesting respective growth rates of 21% and 46%.
The firm’s financial performance last year and confidence for 2025 shows the continuing demand for and value of sports data, particularly among the betting sector which has grown considerably in major markets like the US and Brazil – both of which Genius is positioning itself in to secure market leadership.
