Welcome to our dedicated page for Genius Sports news (Ticker: GENI), a resource for investors and traders seeking the latest updates and insights on Genius Sports stock.
Genius Sports Limited (GENI) is a global leader in sports data and technology solutions powering live betting markets, media experiences, and league operations. This news hub provides investors and industry professionals with official updates and objective analysis of GENI's strategic developments.
Access real-time announcements including earnings reports, technology partnerships, and product launches across GENI's three core segments: sports data collection, betting technology infrastructure, and media content distribution. Our curated feed eliminates speculation by focusing exclusively on verified press releases and credible third-party reporting.
Key updates cover regulatory developments in sports betting markets, new client acquisitions in global sports leagues, and innovations in GENI's proprietary data platforms. Bookmark this page to monitor how the company maintains its leadership in transforming raw sports data into actionable business solutions for partners worldwide.
Genius Sports (NYSE: GENI) has reaffirmed its 2024 financial guidance, maintaining its projected Group Revenue of $511 million and Group Adjusted EBITDA of $86 million. The company also disclosed its preliminary unaudited estimate of cash, cash equivalents, and restricted cash, which is expected to reach approximately $135 million by December 31, 2024. This represents a significant increase from $69 million as of September 30, 2024, and $126 million as of December 31, 2023. The company confirms it will maintain a positive net cash position throughout 2024, aligning with previously disclosed guidance.
Genius Sports (NYSE: GENI) has announced the pricing of its underwritten public offering of 17,647,059 ordinary shares at $8.50 per share. The company expects to raise approximately $144 million in net proceeds after deducting underwriting commissions and offering expenses.
The offering, expected to close on January 16, 2025, includes participation from existing shareholders Caledonia and Wellington Management, along with new investors. BTIG is serving as the lead book-running manager, with Goldman Sachs and Deutsche Bank Securities as book-running managers.
The company plans to use the proceeds for general corporate purposes, potentially including acquisitions or investments in complementary businesses, technologies, or assets, although no specific agreements are currently in place.
Genius Sports (NYSE:GENI), a leading provider of official data, technology, and broadcast services for the sports, betting, and media ecosystem, has announced its participation in the upcoming 27th Annual Needham Growth Conference. The company's Chief Financial Officer, Nick Taylor, will engage in a fireside chat scheduled for 10:15am ET on January 16, 2025. Interested parties can access both the live webcast and replay of the presentation through the company's investor relations website at investors.geniussports.com.
TNT Sports is launching an innovative NBA 2K25 DataCast alternative telecast for the 2024 Emirates NBA Cup Knockout Rounds, in collaboration with NBA 2K and Genius Sports (NYSE:GENI). The viewing experience will be available on truTV and Max during Quarterfinals and Semifinal coverage.
The broadcast will feature NBA 2K25 overlays including Shot Meter, 2K Badges, and official 2K camera angles, enhanced by GeniusIQ's real-time analytics providing player tracking, shot probability, and distance data. Notable contributors include Vince Carter, Candace Parker, and Channing Frye.
Viewers can earn six NBA 2K25 Locker Codes for Amethyst MyTEAM packs. Coverage begins December 10 with quarterfinal doubleheaders, culminating in the Las Vegas semifinals on December 14. All content will be available on TNT, truTV, and Max's B/R Sports Add-On.
NBC Sports and Peacock are partnering with NFL, EA SPORTS, and Genius Sports (NYSE:GENI) to launch the first-ever EA SPORTS Madden NFL Cast for the Houston Texans-Kansas City Chiefs game on December 21. This innovative broadcast will stream exclusively on Peacock, featuring live EA SPORTS Madden NFL 25 graphics, route trees, play cards, and player ratings. The stream will be powered by NFL's Next Gen Stats and GeniusIQ, Genius Sports' AI platform, creating an immersive viewing experience that blends video game elements with live action.
The broadcast team includes Paul Burmeister, Kurt Benkert, Chad Ochocinco, and Madden NFL champion Henry Leverette. The game features eleven players with Madden ratings above 90, including Patrick Mahomes and Travis Kelce.
Genius Sports (NYSE:GENI) reported strong Q3 2024 results with revenue of $120.2 million, up 18.2% year-over-year, exceeding guidance of $119m. The company achieved Group Net Income of $12.5 million and Adjusted EBITDA of $25.7 million, up 45.2% year-over-year. Betting Technology segment revenue grew 29.9% to $85.6 million, while Media and Sports Technology segments saw slight declines. The company raised its 2024 guidance, projecting full-year revenue of $511 million and Adjusted EBITDA of $86 million, representing growth of 24% and 61% respectively. Genius Sports also secured improved commercial terms with major U.S. sportsbook customers.
Genius Sports (NYSE:GENI) has announced its schedule for releasing third quarter 2024 results. The company will publish its financial report before 8:00 AM ET on Tuesday, November 12, 2024. Following the release, Genius Sports will host a conference call at 8:00 AM ET on the same day to discuss the results in detail.
Investors and interested parties can access the earnings press release and related materials on the company's investor relations website at investors.geniussports.com. The website will also provide a live audio webcast of the conference call and Q&A session. For those unable to attend the live event, a replay of the webcast will be made available on the website within 24 hours after the call concludes.
Genius Sports (NYSE:GENI) has launched FANHub, the world's first omnichannel marketing platform designed specifically for reaching and engaging sports fans. This innovative platform combines programmatic and social media buying capabilities with a sports-first approach, leveraging Genius Sports' extensive experience in data collection, curation, and activation.
FANHub offers marketers a user-friendly platform with several key features:
- Fan-First Audiences: Integration of 1st-party data and proprietary audiences
- Curated and Exclusive Premium Inventory: High-quality, brand-safe media across various channels
- Bidding & Insights: Real-time reporting and strategies based on audience datasets and live game-time data
- Dynamic Creative Optimization: Scalable campaigns with instant integration of play-by-play data and fan preferences
The platform aims to address the challenges of reaching highly engaged sports audiences across multiple channels and formats, enabling marketers to create sophisticated sports-based media strategies and manage the full-funnel fan journey.
Genius Sports (NYSE:GENI) has announced the appointment of Robert J. (Robbie) Bach to its Board of Directors, effective October 1, 2024. Bach, former Chief Xbox Officer and President of Microsoft's Entertainment & Devices Division, brings extensive experience in creating groundbreaking entertainment platforms. His leadership at Microsoft drove the launch of Xbox, Xbox Live, and Xbox 360, establishing the company as a leader in the gaming sector. Bach also led the evolution of gaming consoles into multimedia hubs and oversaw the launch of products like Zune and Windows Phone.
Bach's expertise in technology, strategic partnerships, and consumer engagement is expected to support Genius Sports' mission to revolutionize sports understanding, consumption, and fan experience. His appointment is aimed at accelerating the company's efforts in developing next-generation sports data and AI platforms, such as GeniusIQ.
Genius Sports (NYSE:GENI) has appointed Mark Kropf as its new Group Chief Technology Officer. Kropf joins from Google, where he was Technical Director in the Office of the CTO, focusing on generative AI capabilities. His expertise will be important for expanding GeniusIQ, Genius Sports' next-generation sports data and AI platform.
Kropf brings over 20 years of experience in technology leadership, software engineering, and infrastructure management across various sectors. He previously played a key role in commercializing Cloud Foundry at Pivotal and holds numerous patents in enterprise software and financial services technology.
CEO Mark Locke expressed enthusiasm about Kropf's appointment, highlighting his track record in technology leadership and AI-focused innovation. Kropf stated his excitement to support Genius Sports' growth and work with the team at the forefront of data and technology innovation in sport.
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