Genius Sports records 30.6% revenue uptick for full-year 2020
Data giant hopes public listing and NFL deal will propel 2021 financial success after 32% of 2020 revenue arrived in Q4
Genius Sports has recorded a 30.6% year-on-year (YoY) rise in full-year revenue to $149.7m, up from $114.6m in 2019.
The New York-listed data provider recorded YoY revenue increases across all three of its major product lines, including betting technology, sports technology and media technology.
Betting technology revenue rose 25.2% YoY to $110.6m, primarily driven by Genius’s data rights business growing and adding new services to its product.
Sports technology revenue jumped 11.8% YoY to $16.1m and media technology revenue leapt 94% YoY to $23.1m.Of this FY20 revenue, 32% was derived from Q4 2020 alone, with the period accounting for $47m worth of revenue.
Elsewhere, group EBITDA rose from $6.2m in 2019 to $17.5m in 2020, on an EBITDA margin of 11.7%.
Mark Locke, Genius Sports CEO, said the momentum from its public listing will put the data giant in a good position throughout 2021.
Locke said: “2020 was a landmark year for Genius, with outstanding performance amid the challenges presented by the global pandemic. We have entered 2021 with great momentum, bolstered by our recently-completed merger with dMY II and NYSE listing, as well as our exclusive partnership with the NFL.
“I am more confident than ever about the opportunities ahead as we continue to leverage our unique technology and scale to grow alongside the rapidly expanding global sports, betting and media ecosystem,” he added.
Regulus Partners’ analyst Paul Leyland said: “Genius continues to be a very fast-growing business, with 32% of FY20 revenue generated in Q4. Annualising Q4 is therefore probably more meaningful in terms of run-rate. This provides revenue of $188m and EBITDA of $16m – suggesting that despite the revenue growth, the business is still underlying breakeven.”