Genius Sports revenue jumps 79% in Q4 2021
Sports data powerhouse reports double-digit growth across all three business divisions
Genius Sports has reported a 79% year-on-year (YoY) rise in its group revenue for Q4 2021, with revenue hitting $84m, or an increase of $35.7m on a constant currency basis.
Delivering its financial report for the final three months of 2021, the data provider confirmed YoY percentage increases across all of its three key operational divisions.
Of these, the biggest increase was in the sports technology and services division, which reported revenue growth of 206%, which amounted to $13m in Q4 2021.
A primary factor in this increase was inclusion in the figures of revenue from Genius’ recent acquisitions of the Sportzcast and Second Spectrum businesses.
Closely following this was the media technology, content and services division, which saw revenue growth of 127.5% to $17m in Q4, due in part to new customer acquisitions in the US and Europe.
Betting technology, content and services revenue also rose on a YoY basis, albeit by double-digits (53%) to $54m, buoyed by a combination of new customer acquisitions and a growth in customer utilisation of Genius’ event content.
The only drop during the quarter was Genius’ group adjusted EBITDA, which fell to a negative figure of $12.5m following accelerated investment in the business over the quarter.
At a full-year 2021 level, Genius Sports revenue rose by 75.5% YoY to $262.7m, or by $102.5m on a constant currency basis, with growth reported across all three divisions.
As with the Q4 figures, the sports technology and services division reported the biggest YoY growth, rising 131.7% to $37.2m, numbers once again buoyed by recent acquisitions and the expansion of Genius’ operational footprint.
Media technology, content and services revenue jumped 109.6% during 2021 to $48.3m, while betting technology, content and services revenue grew by 60.2% YoY to $177.2m in 2021.
Genius’ group adjusted EBITDA fell to $1.6m in 2021, a decline caused by accelerated investment in the final two quarters of 2021, with the data provider highlighting the “high growth” US business.
“2021 was a transformational year that saw Genius form innovative new relationships with leagues, sportsbooks and brands alike, which allowed us to deliver record group revenue in the fourth quarter,” Genius Sports co-founder and CEO Mark Locke said.
“We are confident that 2022 will be another strong and profitable year as we capitalise on the growth opportunities ahead and continue to expand our services around the world,” Locke added.
Genius has confirmed its expectation to generate group revenue of approximately $340m and a group adjusted EBITDA of $15m in 2022, rising to a revenue expectation of between $430m to $440m and group adjusted EBITDA of between $40m and $50m in 2023.