(Sportico)

Genius Sports Reports 21% Increase in 4Q Revenue

Genius Sports, the sports data and technology company, posted fourth-quarter 2023 revenue of $127.2 million, marking a robust 20.7% growth compared to the same period the previous year. The company's revenue is distributed across three business units: Betting Technologies, Content and Services; Media Technologies, Content and Services; and Sports Technologies and Services.

The largest revenue contributor remained the Betting Technology segment, registering $86.7 million for the quarter, reflecting a substantial 32.3% increase. The second division generated an additional $28.6 million, marking an 11.3% rise. However, the third division experienced a decline, with revenue dropping by 15.8% to $11.9 million.

The strong performance in the fourth quarter enabled Genius Sports to surpass its full-year 2023 guidance significantly. The company recorded a total of $413 million for the 12 months, marking a 21.1% increase from 2022 and surpassing initial revenue estimates by 5.6%.

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