Genius Sports Expects Significant Growth in 2022, 2023
Genius Sports, the sports data and technology company, revealed that it expects to grow this year and in 2023.
Genius Predicts It Will Continue to Grow This Year and in 2023
Hosting its first virtual Investor Day, Genius revealed key expectations regarding the future of the company and its current financial position. During the event, there were sessions with important partners for the company such as the NFL, Sky Betting and Gaming and Football DataCo.
“In 2022, the company expects to generate Group Revenue of approximately $340 million and Group Adj. EBITDA of approximately $15 million.”
Genius Sports Group
Genius expects its revenues for financial 2022 to hit approximately $340 million. Moreover, the company said that it expects an adjusted EBITDA of $15 million this year. What is more, Genius predicts further growth during 2023. The company said that it expects its group revenue to be in the range of $430 to $440 million in 2023. Additionally, Genius said that it expects EBITDA to be between $40 and $50 million in 2023.
Investing in the US Market Is a Key Priority for the Company
According to Genius, the US market is going to play a key role in its growth. The company explained that it will invest in the market which is expected to result in a “strong growth opportunity and expected profitability by 2024 on an Adj. EBITDA basis.”
Additionally, Genius acknowledged that its acquisition strategy helped with unlocking exciting long-term growth and scaling opportunities. The company also deemed its partnership with the NFL as strategically important and explained that it has the potential to create significant value.
Genius Continues Building on a Strong Foundation
Genius’ CEO and co-founder, Mark Locke, outlined that the company serves as the link between fans, advertisers, leagues, and sportsbooks. Moreover, he explained that the company’s technology collects best-in-class data around the world, which is used to power “the high-growth global sports ecosystem.” Locke added that without the critical data and technology solutions that are provided by Genius, it is difficult to imagine how the industry would operate efficiently.
“Genius is the key link between leagues, sportsbooks, media outlets, advertisers, and ultimately, fans.”
Mark Locke, co-founder and CEO at Genius Sports Group
He outlined that the company has a strategic plan to continue building upon its strong foundation, which will ultimately result in profitability for the company in 2022 and 2023. In conclusion, Locke said that he is confident about the opportunities that lie ahead for Genius as it continues to expand its presence globally.
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