Genius Sports Q2 Earnings Call Highlights

Genius Sports reported revenue of $196 million, up 65% year over year, and adjusted EBITDA of $53 million, exceeding its guidance. Growth was driven by betting, media, the GeniusIQ product ramp and early synergies from the Legend acquisition.

Legend and prediction markets expand growth opportunities: Legend added approximately 118 million users, while Genius signed commercial agreements with Kalshi and Polymarket. Management said 2026 guidance does not assume NFL approval for prediction markets.

Full-year outlook raised: Genius now expects 2026 revenue of $1.005 billion to $1.025 billion and adjusted EBITDA of $285 million to $295 million, with an approximately 29% margin. The company ended the quarter with $155 million in cash and $825 million in debt following the Legend transaction.

Genius Sports NYSE: GENI reported second-quarter revenue of $196 million, up 65% from a year earlier and above its prior outlook, as growth in betting and media was bolstered by the May 1 addition of Legend. Adjusted EBITDA totaled $53 million, up 54% year over year and ahead of the company’s $45 million guidance. The resulting 27% adjusted EBITDA margin was more than 250 basis points above the margin implied by its outlook, according to Chief Financial Officer Bryan Castellani.

“Revenue, adjusted EBITDA, and cash all ahead,” Co-Founder and CEO Mark Locke said, pointing to early synergies from the Legend acquisition, the ramp of GeniusIQ products and continued expansion in the company’s media business.

Betting revenue grew 28% year over year during the quarter, while media revenue, which includes Legend from May 1, rose 193% as reported. Castellani said both the legacy Genius business and Legend Media produced organic growth of more than 20%.

Locke said Genius serves more than 500 sportsbook brands in regulated markets and generates more than half of its revenue outside the United States. He said the betting business continued to grow despite customer-friendly sporting results that can pressure sportsbook win margins, because Genius’ revenue model relies on contractual guarantees and volumes rather than game outcomes.

The company also cited momentum in media from new brands and agencies, increased spending and demand from prediction-market operators. Locke said Genius added 174 Moment Engine customers in the second quarter, following roughly 70 customer wins since the product’s March launch. New customers included McDonald’s, YouTube TV and DoorDash.

During the World Cup, Genius used its data and GeniusIQ technology to support real-time advertising activations around events including goals, penalties and video-assistant-referee decisions. Locke said one global consumer brand achieved roughly three times greater CPM efficiency than planned and its lowest cost per click of any campaign it ran during the tournament. The company expects to extend Moment Engine capabilities to NFL-related media activations this season. Locke said the advertising technology is deployed across more than 90% of the platforms used by agencies.

Management said the Legend acquisition is generating synergies faster than initially expected. Legend adds an owned audience of roughly 118 million users, about two-thirds of whom return to the platform, according to Locke. He said operators’ customers acquired through Legend carry about 60% higher lifetime value after their first year.