Genius Sports (GENI) Q4 2025 earnings summary

Executive summary

• Achieved 31% year-over-year revenue growth in 2025, reaching $669.5 million, the strongest annual increase since 2021.

• Adjusted EBITDA rose 59% to $136.2 million in 2025, with a record margin of 20.4%.

• Betting and media segments both delivered strong double-digit growth, with media revenue up 37% and betting revenue up 33%.

• Net loss for 2025 was $111.6 million, impacted by nonrecurring stock-based compensation and litigation costs.

• Announced acquisition of Legend, expected to accelerate financial targets by two years and significantly boost revenue and EBITDA.

Financial highlights

• Group revenue for 2025 was $669.5 million, up 31% year-over-year; Q4 revenue was $240.5 million, up 37%.

• Adjusted EBITDA was $136.2 million, representing a 20.4% margin, up from 16.8% in 2024.

• Betting revenue grew 33% to $471.5 million, outpacing global GGR growth; media revenue increased 37% to $144.5 million.

• Gross profit for 2025 was $153.8 million, up from $128.7 million in 2024.

• Net loss per share for 2025 was $(0.44), compared to $(0.27) in 2024.

Outlook and guidance

• 2026 organic revenue expected between $810–$820 million, with adjusted EBITDA of $180–$190 million, representing 22% and 36% growth, respectively.

• Post-Legend acquisition, annualized group revenue expected at ~$1.1 billion, adjusted EBITDA of $320–$330 million, and EBITDA margin of ~30%.

• Free cash flow conversion projected at 50% for FY26E, with Legend expected to drive >60% conversion longer term.

• Combined business expected to sustain 20% revenue growth and strong margins through 2028.