Genius Sports (GENI) Q1 2026 earnings summary

Executive summary

• Achieved 31% year-over-year revenue growth in Q1 2026, reaching $188 million, with adjusted EBITDA up 21% to $24 million and margin at 12.8%.

• Closed the Legend acquisition, expanding into fan engagement and iGaming, with integration underway and expected to drive margin expansion and profitability.

• Integration of Moment Engine, GeniusIQ, and Legend are driving strategic and financial gains, accelerating operational leverage.

• Over half of revenue is generated outside the U.S., with a focus on regulated markets and licensed operators.

• Net Revenue Retention remains strong at 120%-130% across sportsbook customers.

Financial highlights

• Q1 2026 group revenue grew 31% year-over-year to $188 million; adjusted EBITDA up 21% to $24 million.

• Betting segment revenue increased 33% to $146 million; media segment up 22% to $42 million.

• Gross profit for Q1 2026 was $43.3 million, up from $35.2 million in Q1 2025.

• Net loss widened to $55.5 million from $8.2 million year-over-year, mainly due to higher operating expenses, FX movements, and Legend transaction expenses.

• Q2 2026 guidance: $185 million revenue, $45 million adjusted EBITDA (reflecting combined company from May 1).

Outlook and guidance

• 2026 group revenue guidance raised to $990 million–$1.01 billion; adjusted EBITDA guidance increased to $270–$280 million, with margin target raised from 23% to 28%.

• 2026 adjusted EBITDA margin target increased to 28%, pulling long-term target forward by two years.

• Expect $100 million total cash flow in H2 2026, with 50%-55% EBITDA-to-cash conversion.

• Free cash flow conversion expected to reach at least 60% by 2028.

• 2027 projected as the year of sustained positive GAAP net income.