ports data and technology provider Genius Sports reported Wednesday corporate revenues of $149 million in 2020, an increase of 30% year-over-year, with a net loss of $30.3 million. During the fourth quarter of 2020, group revenue increased 27.6% year-over-year to $47.0 million.
Marking the company’s first set of financial results as a newly listed NYSE company, it disclosed that the firm’s betting technology unit (formerly Betgenius) served as the group’s biggest income contributor, generating revenues of $111 million. This growth was attributed to strong client take-up of its official data rights services for bookmakers, the expansion of value-added wagering components and new service offerings.
Genius Sports’ tech unit recorded a 12% increase in year-on-year revenues to $16 million, driven by expanded services provided to existing sports league and federation partners across all tiers of professional sport. Genius’ media technology and content nearly doubled its 2019 revenues to £23 million as a result of new customers secured in the Americas and Europe for its programmatic advertising solution.
“2020 was a landmark year for Genius, with outstanding performance amidst the challenges presented by the global pandemic,” said Mark Locke, GSL Co-Founder and CEO. “We have entered 2021 with great momentum, bolstered by our recently-completed merger with dMY II and NYSE listing, as well as our exclusive partnership with the NFL. I am more confident than ever about the opportunities ahead as we continue to leverage our unique technology and scale to grow alongside the rapidly expanding global sports, betting and media ecosystem.”
Furthermore, the company highlighted a series of US strategic achievements recorded during 2020 trading. This included a six-year strategic partnership with the National Football League (NFL) – inked earlier in April – to become the exclusive distributor of real-time official play-by-play statistics and wagering data for the tournament’s sports betting and media partners.
Genius' EBITDA results increased to $17.5 million from -$6.2 million in 2020, driven by strict cost controls and reduced sales and marketing expenses in the wake of the COVID-19 pandemic, offsetting increased data rights costs.