Genius Sports has announced its financial results for the fourth quarter and full year ending 31 December 2024. The company reported Q4 2024 revenue of $175.5 million, a 38 percent increase compared to $127.2 million in Q4 2023.
The betting technology, content & services segment was the primary driver of this growth, generating $128.2 million, up 48 percent year-over-year. The media technology, content & services segment contributed $29.8 million, reflecting a 4 percent increase, while sports technology & services saw a 47 percent rise, reaching $17.6 million.
Genius Sports reduced its , compared to $38.5 million in Q4 2023. Adjusted EBITDA surged by 171 percent to $32.4 million, up from $12 million, with an adjusted EBITDA margin of 18.4 percent, a 900 basis point improvement over the previous year.
Full-year revenue climbs to $510.9 million
For the full year 2024, Genius Sports recorded a total revenue of $510.9 million, a 24 percent increase from $413 million in 2023.
- Betting technology, content & services revenue grew 29 percent to $354.9 million.
- Media technology, content & services revenue rose 15 percent to $105.3 million.
- Sports technology & services revenue increased 8 percent to $50.7 million.
The company narrowed its full-year net loss to $63 million, a 26 percent improvement from $85.5 million in 2023. Adjusted EBITDA jumped 61 percent to $85.7 million, up from $53.3 million, with an adjusted EBITDA margin of 16.8 percent, improving 390 basis points.
As of 31 December 2024, Genius Sports reported cash, cash equivalents, and restricted cash of $135 million, marking a $9 million increase from the previous year.
The company generated $82 million in cash flow from operating activities in 2024, a 5.5-fold increase compared to 2023, reinforcing its financial stability.
CEO’s comment
Mark Locke, Co-Founder, and CEO of Genius Sports, commented on the results, stating, “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.”
