Genius Sports Notes Limited Impact from Brazil’s New Betting Regulations and Reaffirms 2026 Guidance

Brazil contributes minimal attributable betting revenue, and Genius Sports expects an immaterial financial impact on Legend.

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09/28/2026 - 04:15 PM

NEW YORK--(BUSINESS WIRE)-- Genius Sports Limited (“Genius Sports”) (NYSE:GENI), a global leader in real-time sports data and technology, notes the Provisional Measure introduced by the Brazilian government on September 25, 2026, which prohibits fixed-odds betting and online gaming in Brazil.

Given the structure of its commercial agreements, Genius Sports has minimal attributable betting revenue from Brazil. The financial impact is anticipated to be similarly immaterial to Legend.

The Company is reaffirming its full-year 2026 guidance of $1.005B to $1.025B in Group Revenue and $285M to $295M in Group Adjusted EBITDA, as its expectations remain unchanged.

Genius Sports’ partnerships with Brazilian sports remain unaffected. Its relationship with the Brazilian Football Confederation (CBF) centers on GeniusIQ, which powers semi-automated offside technology (SAOT) and other products delivered directly to teams, leagues, and federations, independent of betting.

Mark Locke, Co-Founder and CEO of Genius Sports, said, “As we have communicated on prior earnings calls, we have been skeptical about how long it would take to generate meaningful betting revenue in Brazil, and we have been fairly conservative in the way that we think about the market.

“Our guidance has been set on that basis. Because of how our deals are structured, this regulation has minimal impact on our business, and we continue to expect to deliver this year’s financial targets. Brazil remains a valued market for us, and our work with CBF through GeniusIQ and officiating technology will continue as before.”

About Genius Sports

Genius Sports is a global leader in real-time sports data and technology, powering how live sports are captured, understood and experienced. As the official data partner to many of the world’s leading leagues and federations, we capture the most accurate information directly from the game and use AI and computer vision to create deeper insights for athletes and richer, more personalized experiences for fans. The company works with more than 1,000 partners globally, including the NFL, English Premier League, NCAA, DraftKings, FanDuel, bet365, CBS, NBC, ESPN, Publicis, PMG and WPP.

Beyond its partnerships with leagues, sportsbooks and broadcasters, Genius Sports reaches millions of fans directly through its global advertising and media platform, with properties including Covers.com, helping brands connect with sports audiences at scale.

Forward-Looking Statements

This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. All statements other than statements of historical facts are forward-looking statements, including but not limited to statements relating to our 2026 guidance and the anticipated impact from Brazil’s new betting regulations. These forward-looking statements include information about our possible or assumed future results of operations or our performance. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “estimates,” and variations of such words and similar expressions are intended to identify such forward looking statements. Although we believe that the forward-looking statements contained in this press release are based on reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in such forward-looking statements, including but not limited to: various risks related to the acquisition of Legend (the “Transaction”), including difficulties and delays in integrating Legend’s business into that of Genius Sports’ business; failing to fully realize anticipated cost savings and other anticipated benefits of the Transaction when expected or at all; business disruptions from the Transaction and potential adverse reactions or changes to business relationships resulting from the completion of the Transaction or our business with prediction markets; the ability of Genius Sports to retain and hire key personnel; the continued availability of capital and financing following the Transaction; the effects of global economic, political, market, and social events or other conditions; risks related to our reliance on relationships with sports organizations and the potential loss of such relationships or failure to renew or expand existing relationships; risks related to our partnerships and business with prediction markets, including providing liquidity on prediction markets, our ability to realize anticipated benefits from these activities and grow related revenue, potential trading or market-making losses, and legal and regulatory uncertainty regarding the treatment of prediction markets, including sports-related event contracts, under applicable gaming, derivatives and other law; fraud, corruption or negligence related to sports events, or by our employees or contracted statisticians; risks related to changes in domestic and foreign laws and regulations or their interpretation; compliance with applicable data protection and privacy laws; pending litigation and investigations; the failure to protect or enforce our proprietary and intellectual property rights; claims for intellectual property infringement; our reliance on information technology; elevated interest rates and inflationary pressures, including fluctuating foreign currency and exchange rates; risks related to domestic and international political and macroeconomic uncertainty; our share repurchase program; and other factors included under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2025.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although we believe that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements contained in this press release, or the documents or communications to which we refer readers in this press release, to reflect any change in our expectations with respect to such statements or any change in events, conditions or circumstances upon which any statement is based.

Non-GAAP Financial Measures

This press release includes non-GAAP financial measures not presented in accordance with U.S. GAAP.

We present Group Adjusted EBITDA to supplement our results presented in accordance with U.S. GAAP. Group Adjusted EBITDA is defined as earnings before interest, income tax, depreciation and amortization and other items that are unusual or not related to Genius Sports’ revenue-generating operations, including but not limited to stock-based compensation expense (including related employer payroll taxes), litigation and related costs, transaction-related expenses and gain or loss on foreign currency.

Group Adjusted EBITDA is used by management to evaluate Genius Sports’ core operating performance on a comparable basis and to make strategic decisions. Genius Sports believes this measure is useful to investors for the same reasons as well as in evaluating Genius Sports’ operating performance against competitors, which commonly disclose similar performance measures. However, Genius Sports’ calculation of Group Adjusted EBITDA may not be comparable to other similarly titled performance measures of other companies. This measure is not intended to be a substitute for any US GAAP financial measure.

We do not provide a reconciliation of Group Adjusted EBITDA on a forward-looking basis because we are unable to forecast certain items required to develop meaningful comparable GAAP financial measures without unreasonable efforts. These items are difficult to predict and estimate and are primarily dependent on future events. The impact of these items could be significant to our projections.