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Genius Sports lifted its full‑year outlook once again, even as losses deepened in the second quarter. For the three months ending June 30, the company reported revenue of $195.5 million, a 65% jump from last year and well above the $185 million it had projected.
Adjusted EBITDA also came in stronger than guidance, though higher operating expenses and tax payments pushed net loss to $77 million.
The revised forecast reflects confidence in continued growth across its data and technology services. Revenue for 2026 is now expected to reach between $1.01 billion and $1.03 billion, up from the $990 million to $1.01 billion range set after Q1.
Adjusted EBITDA is projected at $285 million to $295 million, compared with the earlier estimate of $270 million to $280 million.
“We continue to realise the benefits of the infrastructure we’ve spent years building. Advertisers are placing greater value on our combination of official data and audience, prediction markets are opening an entirely new avenue for growth, and our core betting business continues to outperform,” said founder and CEO Mark Locke
“In our first quarter as a combined business, we exceeded guidance on revenue, adjusted EBITDA and cash, raised our full-year outlook, and are already seeing the benefits of the Legend integration.”
Legend acquisition, prediction market deals, among key Q2 developments
Genius Sports’ second quarter was marked by sharp growth in its media technology arm, where revenue surged to $78.2 million, nearly tripling year‑on‑year.
The company credited the jump largely to its $1.2 billion acquisition of Legend, completed in May, alongside rising demand for its Moment Engine and continued traction for GeniusIQ‑powered products.
Betting technology remained the company’s biggest revenue driver, climbing 28% to $117.4 million. Growth here came from contract renewals at higher prices, expansion of value‑added services, and new offerings in existing markets.
Beyond the numbers, Genius pointed to several strategic moves that shaped the quarter and the weeks that followed.
These included a new AI and technology partnership with Liga MX in Mexico, a deal with the Swiss Football League, and fresh agreements with prediction market leaders Polymarket and Kalshi.
Non-operating expenses lead to $77m loss, but Genius keeping a positive outlook
Strong revenue growth in Q2 was not enough to counter rising costs. Operating loss narrowed to $55.7 million from $80.7 million a year earlier, but heavier non‑operating expenses pushed pre‑tax loss to $77.4 million.
Last year’s quarter had also benefited from a $27 million foreign exchange gain, making the comparison tougher.
Net loss came in at $76.7 million, up from $53.9 million, despite lower tax payments and higher gains from equity investments. Adjusted EBITDA told a different story, climbing 54% to $52.6 million.
For the first half of the year, revenue reached $383.5 million, a 46% increase, while net loss widened to $132.2 million. Even so, adjusted EBITDA rose 42% to $76.6 million, giving the company confidence to maintain its upgraded guidance for the rest of 2026.
Source: NEXT.io
