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Genius Sports Reports Second Quarter Results Ahead of Expectations and Raises Full-Year Revenue and Group Adj. EBITDA Guidance

Genius Sports Reports Second Quarter Results Ahead of Expectations and Raises Full-Year Revenue and Group Adj. EBITDA Guidance
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Genius sees clear path to NYSE profitability after H1 growth

Genius sees clear path to NYSE profitability after H1 growth
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Genius lifts 2021 forecasts following strong NYSE debut results

Genius lifts 2021 forecasts following strong NYSE debut results
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A strong opening to year trading has led
Genius Sports to raise its full-year 2021 forecasts, as the newly NYSE-listed enterprise targets corporate revenues of $250 to 260 million and adjusted EBITDA of approximately $10 to 20 million.
The upgraded forecast follows Genius’ publishing of its Q1 trading results in which the sports-tech group registered a 52% year-on-year revenue increase to $53.7 million.
Q1 trading saw Genius register double-digit metric growth across all core divisions, as its headline
Betting Technology unit recorded a 42% increase in revenues to $39 million (Q1 2020: $27.5 million).
The Betting Technology unit’s performance was driven by price increases on contract renewals and renegotiations of Genius’ official data rights strategy and the expansion of its value-added services for clients. ....

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