Genius Sports, the international sports data technology company, saw its revenue rise by 23.7% year-on-year in the 2024 financial year, to $510.8 million.
This was up from $412.9 million in 2023 for the London-based company, while the group’s net loss decreased from $85.5 million to $63 million during the 12 months up to December 31, 2024.
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Adjusted EBITDA (earnings before interest, taxation, depreciation, and amortization), meanwhile, rose from $53.3 million to $85.7 million.
In terms of the different Genius divisions, the betting technology, content and services arm brought in the largest proportion of company revenue, $354.8 million (up by 29.4%) in 2024.
Media technology, content and services brought in $105.3 million, meanwhile, while sports technology and services’ revenue came to $50.7 million. Both of those sectors also saw year-on-year rises.
For Genius in the fourth quarter (Q4), meanwhile, overall revenue came to $175.5 million, a year-on-year increase of 38%. All three divisions saw revenue rises.
For the betting division, Genius has said the Q4 revenue rise was driven primarily by “growth in business with existing customers as a result of price increases on contract renewals and renegotiations."
The sports segment’s income increase – 47.3% from Q4 2023, coming to $17.5 million in total – was due to “revenue from products built on GeniusIQ technology,” meanwhile.
Genius launched its AI-powered GeniusIQ platform in Q3. GeniusIQ, unveiled in August and in useably several leading sports properties, aims to enhance the company’s existing offerings by better facilitating the retrieval and collation of data and the generation of more accurate data insights and predictive analytics.
In terms of Q4 Genius activity, late November saw the firm partner with sports agency heavyweight Infront to provide tracking services to French soccer's LFP league body.
The Q4 net loss was $28.2 million, while EBITDA amounted to $32.3 million, a 170.7% year-on-year rise.
Genius’ Q3 revenue, meanwhile, was up 18% year-on-year from 2023’s equivalent figure.
Mark Locke, co-founder and chief executive at Genius Sports, said: “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.”
