Genius Sports Doubles Revenue in Q2

Genius Sports generated $55.8 million in revenue in Q2 2021, a 108% increase compared to the same period a year prior.

The quarter was driven by the London-based date provider’s betting technology, content, and services segment, which posted $40.7 million in revenue — a 122% increase year-over-year.

The segment benefited from a return to live sports and services provided to sportsbooks as Genius continues to expand its offerings. 

• In May, the company agreed to purchase FanHub, a free-to-play game provider.
• In June, it raised $435 million in an upsized public offering.
• The same month, the company acquired Second Spectrum — the official analytics provider for the NBA, Premier League, and MLS — for $200 million.
• This week, it reached an agreement with 888 Holdings to provide data and tech to Sports Illustrated’s new gambling platform, SI Sportsbook.

Genius is poised for a strong second half of FY2021 with the NFL season kicking off this week. 

The company secured exclusive NFL data rights in April for $120 million per year in a six-year deal that succeeded the league’s previous deal with Sportradar.

Factoring in the upcoming NFL season, Genius raised its full-year revenue guidance to between $255 million and $260 million, up from a previous projection of $250 million.