Genius Sports CEO and co-founder Mark Locke said the company is “better positioned than ever” to progress after reporting an eighth successive quarter of financial results above expectations.
Q4 2023 group revenue reached US$127m, up 21 per cent, with adjusted EBITDA following suit with growth of 349 per cent to $12m.
And while Genius did still post a Q4 group net loss of $38m, with the full-year loss rising to $86m, overall loss narrowed from $181.6m in 2022.
Overall 2023 revenue increased by 21 per cent to $413m, exceeding initial guidance of $391m, and 2023 adjusted EBITDA more than tripled to $53m after initial guidance of $41m.
Locke said: “We are excited to report our eighth consecutive quarter of financial results above expectations, while demonstrating the increasing profitability of our business model and our ability to consistently execute on our strategic objectives.
“The business is now better positioned than ever to benefit from multiple structural growth drivers across the digital sports ecosystem, and we’re excited to continue our momentum into 2024.”
