Genius Sports (GENI) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $196 million, up 65% year-over-year, exceeding guidance, with adjusted EBITDA of $53 million, both surpassing expectations.

• The Legend acquisition, closed in Q2 2026, was immediately accretive to margins and performance, delivering faster-than-expected synergies.

• Media business, including Legend, grew 193% year-over-year, with 174 new customers added in Q2.

• Prediction markets are emerging as a significant revenue stream, with new deals signed with Kalshi and Polymarket.

• Full-year 2026 guidance for revenue and adjusted EBITDA was raised, reflecting strong performance and outlook.

Financial highlights

• Q2 2026 group revenue rose 64.7% year-over-year to $195.5 million; adjusted EBITDA up 54% to $52.6 million.

• Adjusted EBITDA margin reached 27%, 258bps above guidance.

• Quarter-end cash was $155 million, above the $140–$150 million range set last quarter.

• GAAP net loss of $76.7 million reflects one-time Legend acquisition costs and higher net interest expense.

• Gross margin improved to 33%.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $1.005–$1.025 billion; adjusted EBITDA guidance raised to $285–$295 million, implying a margin near 29%.

• Q3 2026 expected revenue and adjusted EBITDA of ~$260 million and ~$85 million, respectively.

• Year-end 2026 cash balance projected at ~$260 million, with over $100 million cash flow expected in H2 2026.

• Targeting 60% unlevered free cash flow conversion by 2028.

• 2027 expected to show the full earnings power of the combined business.