- \n
- \nQ2 revenue more than doubled year-over-year to $55.8m\n<\/li>\n
- \nSecond quarter Group Adj. EBITDA up 126% year-over year to $5.2m\n<\/li>\n
- \nEnhanced our technological capabilities with the acquisitions of Spirable, Second Spectrum and FanHub, supporting improved long-term customer traction\n<\/li>\n
- \nAnnounced multi-year strategic partnerships with DraftKings, Caesars, WynnBET and 888 SI Sportsbook to provide our full range of official sportsbook data and content and fan engagement solutions, including a complete suite of NFL-related products\n<\/li>\n
- \nRaised $435 million of primary and secondary proceeds in an upsized public offering\n<\/li>\n
- \nTightening 2021 Group Revenue guidance at the high end of the previous range from $250-$260m to $255-$260m and reaffirming Group Adj. EBITDA guidance of $10-$20m\n<\/li>\n<\/ul>\n
\n
\n \n $ in thousands<\/i><\/b><\/p>\n<\/td>\n
\n Q221<\/b><\/p>\n<\/td>\n
\n Q220<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n 1H21<\/b><\/p>\n<\/td>\n
\n 1H20<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Group Revenue<\/b><\/p>\n<\/td>\n
\n \n55,849\n<\/p>\n<\/td>\n
\n \n26,797\n<\/p>\n<\/td>\n
\n \n108.4%\n<\/p>\n<\/td>\n
\n \n109,587\n<\/p>\n<\/td>\n
\n \n62,166\n<\/p>\n<\/td>\n
\n \n76.3%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Betting Technology, Content & Services <\/i><\/p>\n<\/td>\n
\n \n40,673\n<\/p>\n<\/td>\n
\n \n18,352\n<\/p>\n<\/td>\n
\n \n121.6%\n<\/p>\n<\/td>\n
\n \n79,628\n<\/p>\n<\/td>\n
\n \n45,774\n<\/p>\n<\/td>\n
\n \n74.0%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Sports Technology & Services<\/i><\/p>\n<\/td>\n
\n \n7,190\n<\/p>\n<\/td>\n
\n \n3,506\n<\/p>\n<\/td>\n
\n \n105.1%\n<\/p>\n<\/td>\n
\n \n12,596\n<\/p>\n<\/td>\n
\n \n7,323\n<\/p>\n<\/td>\n
\n \n72.0%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Media Technology, Content & Services<\/i><\/p>\n<\/td>\n
\n \n7,986\n<\/p>\n<\/td>\n
\n \n4,939\n<\/p>\n<\/td>\n
\n \n61.7%\n<\/p>\n<\/td>\n
\n \n17,363\n<\/p>\n<\/td>\n
\n \n9,069\n<\/p>\n<\/td>\n
\n \n91.5%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Group Adj. EBITDA<\/b><\/p>\n<\/td>\n
\n \n5,191\n<\/p>\n<\/td>\n
\n \n2,292\n<\/p>\n<\/td>\n
\n \n126.5%\n<\/p>\n<\/td>\n
\n \n14,449\n<\/p>\n<\/td>\n
\n \n4,093\n<\/p>\n<\/td>\n
\n \n253.0%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Group Adj. EBITDA Margin<\/b><\/p>\n<\/td>\n
\n \n9.3%\n<\/p>\n<\/td>\n
\n \n8.6%\n<\/p>\n<\/td>\n
\n \n0.7%\n<\/p>\n<\/td>\n
\n \n13.2%\n<\/p>\n<\/td>\n
\n \n6.6%\n<\/p>\n<\/td>\n
\n \n6.6%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Q2 2021 Financial Highlights<\/b><\/p>\n
- \n
- Group Revenue: <\/b>Group revenue increased 108% year-over-year to $55.8million, driven by significant growth in our core Betting Technology, Content & Services product, and supported by strong growth in the Sports and Media Technology businesses. On a constant currency basis, revenue increased $25.6 million, or 84% year-over-year.\n
- \n
- Betting Technology, Content & Services:<\/i> Revenue increased 122% year-over-year to $40.7 million. Growth in the business was driven by the return of sports calendars, increased market share, higher share of wallet through additional services for sportsbooks, and new customer wins.\n<\/li>\n
- Sports Technology & Services: <\/i>Revenue increased 105% year-over-year to $7.2million, driven by the inclusion of revenues relating to two acquisitions, Sportzcast, acquired in December 2020, and Second Spectrum, acquired in June 2021.\n<\/li>\n
- Media Technology, Content & Services: <\/i>Revenue increased 62% year-over-year to $8.0 million, driven by increased advertising spend in the US and Europe alongside new key customer wins.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
- \n
- Group Adj. EBITDA: <\/b>Group adjusted (non-GAAP) EBITDA increased to $5.2 million from $2.3 million, driven by revenue growth, strong operating leverage, and disciplined cost control.\n
- \n
- \nGroup Adjusted EBITDA margin was 9% in the quarter.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
Business Highlights<\/b><\/p>\n
During the second quarter reporting period:<\/i><\/b><\/p>\n
- \n
- \nAgreed to new official partnerships with sports leagues and federations, including, but not limited to, Argentine Football Association (AFA), Professional Pickleball Association (PPA), and The Colombian Soccer Major Division (DIMAYOR).\n<\/li>\n
- \nRaised $435 million of primary and secondary proceeds in an upsized public offering. Genius intends to use the net primary proceeds for general corporate purposes.\n<\/li>\n
- \nClosed the two previously announced acquisitions of FanHub and Second Spectrum, demonstrating efficient M&A integration.\n<\/li>\n
- \nNamed “Acquisition & Retention Partner of the Year\u201d at this year\u2019s EGR North America Awards, which recognizes companies that \u201cexcelled as a marketing partner to sportsbook and iGaming operators during the past 12 months.\u201d\n<\/li>\n<\/ul>\n
After the second quarter reporting period:<\/i><\/b><\/p>\n
- \n
- \nAnnounced multi-year strategic partnerships with DraftKings, Caesars, WynnBET and 888 SI Sportsbook to provide our full range of official sportsbook data and content and fan engagement solutions, including a complete suite of NFL-related products.\n<\/li>\n
- \nAnnounced acquisition of Spirable, a leading creative performance platform that will enable Genius to combine official data-driven marketing with curated video content to deliver a more personalized fan experience.\n<\/li>\n
- \nAnnounced strategic partnership with MEDIAPRO Canada, to grow Canadian soccer fan engagement and further strengthen both Genius Sports and MEDIAPRO\u2019s existing relationships with the sport.\n<\/li>\n
- \nGenius was granted a permanent sports wagering license by the West Virginia Lottery Commission, marking our commitment to supporting the development of, and operating in, regulated territories in partnership with fully licensed sportsbooks.\n<\/li>\n
- \nSecured a multi-year agreement with the British Columbia Lottery Corporation (BCLC), to support its sportsbook operations as Canada legalizes single-event sports wagering.\n<\/li>\n
- \nGenius was granted a long-term Online Sports Wagering Vendor Permit by the Wyoming Gaming Commission.\n<\/li>\n
- \nAppointed Kim Williams-Bradley to Genius Sports\u2019 Board of Directors, bringing over two decades of experience in key leadership positions within sports and media, including the NFL, WTA, Core Media Group and Warner Bros. Entertainment Group.\n<\/li>\n
- \nAppointed Former NFL Network and ESPN CEO, Steve Bornstein, to the newly created executive role of President, North America.\n<\/li>\n<\/ul>\n
Financial Outlook<\/b><\/p>\n
\nThe Company updated its full-year 2021 projections and now expects to generate revenue of approximately $255 to $260 million (previously $250 to $260 million) and adjusted EBITDA of approximately $10 to $20 million.\n<\/p>\n
Financial Statements & Reconciliation Tables<\/b><\/p>\n
- \nGroup Adjusted EBITDA margin was 9% in the quarter.\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
- Sports Technology & Services: <\/i>Revenue increased 105% year-over-year to $7.2million, driven by the inclusion of revenues relating to two acquisitions, Sportzcast, acquired in December 2020, and Second Spectrum, acquired in June 2021.\n<\/li>\n
- Betting Technology, Content & Services:<\/i> Revenue increased 122% year-over-year to $40.7 million. Growth in the business was driven by the return of sports calendars, increased market share, higher share of wallet through additional services for sportsbooks, and new customer wins.\n<\/li>\n
- Group Revenue: <\/b>Group revenue increased 108% year-over-year to $55.8million, driven by significant growth in our core Betting Technology, Content & Services product, and supported by strong growth in the Sports and Media Technology businesses. On a constant currency basis, revenue increased $25.6 million, or 84% year-over-year.\n
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