Genius Sports has released its financial results for Q4 and the full year ending 31 December 2024, showcasing strong growth across key financial metrics.
In Q4 2024, the company generated $175.5 million in revenue, marking a 38% increase from $127.2 million in the same period of 2023. This was primarily driven by the ‘betting technology, content & services’ segment, which saw a 48% year-over-year revenue rise to $128.2 million.
Revenue from the ‘media technology, content & services’ division grew 4% to $29.8 million, while the ‘sports technology & services’ segment posted a 47% increase, reaching $17.6 million.
The company reported a Q4 net loss of $28.2 million, improving from the $38.5 million loss in the previous year. Adjusted EBITDA surged by 171% to $32.4 million, up from $12 million, with an 18.4% adjusted EBITDA margin, reflecting a 900 basis point improvement.
For the full year 2024, Genius Sports recorded $510.9 million in total revenue, a 24% rise from $413 million in 2023. The ‘betting technology, content & services’ segment led the growth with a 29% increase to $354.9 million.
Revenue from ‘media technology, content & services’ grew 15% to $105.3 million, while ‘sports technology & services’ rose 8% to $50.7 million. The company reduced its net loss to $63 million, a 26% improvement from the $85.5 million loss in 2023.
Adjusted EBITDA for the year climbed 61% to $85.7 million, compared to $53.3 million in 2023, with an adjusted EBITDA margin of 16.8%, up by 390 basis points.
As of 31 December 2024, Genius Sports reported $135 million in cash, cash equivalents, and restricted cash, increasing by $9 million from the prior year.
Cash flow from operations reached $82 million in 2024, growing 5.5 times compared to the previous year, highlighting the company’s strengthened financial standing.
Mark Locke, the Co-Founder and CEO of Genius Sports, mentioned:
2024 was a defining year for commercial execution, with the renewal of key contracts and reinforcement of our solid infrastructure that lays the foundation for sustainable growth and profitability over the next several years.
We have consistently exceeded expectations, bolstered our technology advantage and strengthened our balance sheet, now positioning Genius Sports for continued success in 2025 and a clear path to achieve greater scale.
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