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, with Q4 revenue up 37% to $240.5 million.

• Adjusted EBITDA rose 59% to $136.2 million in 2025, with a record margin of 20.4% for the year and Q4 Adjusted EBITDA up 49% to $48.3 million.

• Betting and Media segments delivered strong double-digit growth, with Media revenue up 37% for FY25 and 96% in Q4.

• Net loss for FY25 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, significantly boost revenue and EBITDA in 2026, and enhance margin profile.

Financial highlights

• Group revenue: $669.5 million in 2025, up 31% year-over-year; Q4 revenue at $240.5 million, up 37%.

• Adjusted EBITDA: $136.2 million, 20.4% margin, highest as a public company, up 59% year-over-year.

• Betting revenue: up 33% to $471.5 million, outpacing global GGR growth; Q4 Betting revenue rose 31% to $167.5 million.

• Media revenue: $144.5 million, up 37% year-over-year, with Q4 revenue nearly doubling to $58.2 million.

• Net loss for FY25 was $111.6 million, compared to $63.0 million in FY24, reflecting higher stock-based compensation and litigation costs.

Outlook and guidance

• 2026 organic revenue expected between $810–$820 million, Adjusted EBITDA $180–$190 million (22% and 36% growth, respectively).

• Combined with Legend, annualized group revenue expected at ~$1.1 billion, Adjusted EBITDA $320–$330 million, margin ~30%, and free cash flow conversion ~50%.

• Guidance includes transition to reporting by betting and media product groups.