Latest news with #MarkLocke
Yahoo
25-06-2025
- Business
- Yahoo
Genius Sports Announces Addition to Russell 3000® Index
LONDON & NEW YORK, June 25, 2025--(BUSINESS WIRE)--Genius Sports Limited ("Genius Sports") (NYSE:GENI) has been added as a member of the broad-market Russell 3000® Index, effective after the US market opens on June 30, as part of the 2025 Russell indexes reconstitution. The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. "Inclusion in the Russell 3000® Index marks an important milestone in Genius Sports' journey as a public company," said Mark Locke, CEO of Genius Sports. "This recognition enhances our visibility and broadens our reach with institutional investors as we continue to execute on our strategic plan." Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website. About Genius Sports Genius Sports is the official data, technology and broadcast partner that powers the global sports, betting and media ecosystem. Our technology is used in over 150 countries worldwide, creating highly immersive products that enrich fan experiences across the entire sports industry. We are the trusted partner to over 700 sports organizations, including many of the world's largest leagues, teams, sportsbooks, brands and broadcasters, such as the NFL, English Premier League, NCAA, DraftKings, FanDuel, bet365, Coca-Cola, EA Sports, CBS, NBC and ESPN. Genius Sports is uniquely positioned through AI, computer vision and big data to power the future of sports fan experiences. From delivering augmented broadcasts and enhanced highlights, to automated officiating tools, immersive betting solutions and personalized marketing activations, we connect the entire sports value chain from the rights holder all the way through to the fan. About FTSE Russell, an LSEG Business FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit FTSE Russell. View source version on Contacts Media Chris Dougan, Chief Communications Officer+1 (202) Investors Brandon Bukstel, Investor Relations Manager+1 (954) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
25-06-2025
- Business
- Business Wire
Genius Sports Announces Addition to Russell 3000 ® Index
LONDON & NEW YORK--(BUSINESS WIRE)--Genius Sports Limited ('Genius Sports') (NYSE:GENI) has been added as a member of the broad-market Russell 3000 ® Index, effective after the US market opens on June 30, as part of the 2025 Russell indexes reconstitution. The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000 ® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 ® Index or small-cap Russell 2000 ® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. 'Inclusion in the Russell 3000 ® Index marks an important milestone in Genius Sports' journey as a public company,' said Mark Locke, CEO of Genius Sports. 'This recognition enhances our visibility and broadens our reach with institutional investors as we continue to execute on our strategic plan.' Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. For more information on the Russell 3000 ® Index and the Russell indexes reconstitution, go to the 'Russell Reconstitution' section on the FTSE Russell website. About Genius Sports Genius Sports is the official data, technology and broadcast partner that powers the global sports, betting and media ecosystem. Our technology is used in over 150 countries worldwide, creating highly immersive products that enrich fan experiences across the entire sports industry. We are the trusted partner to over 700 sports organizations, including many of the world's largest leagues, teams, sportsbooks, brands and broadcasters, such as the NFL, English Premier League, NCAA, DraftKings, FanDuel, bet365, Coca-Cola, EA Sports, CBS, NBC and ESPN. Genius Sports is uniquely positioned through AI, computer vision and big data to power the future of sports fan experiences. From delivering augmented broadcasts and enhanced highlights, to automated officiating tools, immersive betting solutions and personalized marketing activations, we connect the entire sports value chain from the rights holder all the way through to the fan. About FTSE Russell, an LSEG Business FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit FTSE Russell.
Yahoo
11-06-2025
- Business
- Yahoo
NFL, Genius Sports Extend and Expand Betting Data Partnership
The NFL and Genius Sports reached a two-year extension for the London-based firm to continue as the exclusive distributor of real-time, official play-by-play and gambling data to sportsbooks and media companies around the world. The deal includes expanded rights for Genius to monetize NFL IP in two new ways. Genius can now sell ad inventory on the NFL BetVision streams, which are the streams of live games in the sportsbook apps. Genius Sports also gains the right to sell ads across the NFL's owned-and-operated digital empire, leveraging Genius' FanHub platform. The agreement includes further collaboration between Genius and the NFL on future activations with FanHub. Advertisement More from FanHub launched in the fall as an omnichannel marketing platform for brands to target sports fans. It allows advertisers the ability to make programmatic and social media placements. In Wednesday's announcement, Genius Sports CEO Mark Locke highlighted the expanded NFL deal as a key milestone for FanHub's rollout, which he believes will set a new standard in a data-driven experience for fans, broadcasters, sportsbooks and sponsors. Genius declined to comment on the financial terms of the partnership. The NFL and Genius first partnered in 2021 after a months-long bidding process, where Genius emerged ahead of rival and previous NFL partner Sportradar. In 2023, they reached an extension that ran through the 2027 NFL season. This deal aligns the two properties through the Super Bowl in February 2030. Advertisement Genius will remain the middleman between the NFL's official data feed and sportsbooks looking to build markets off the fastest possible in-game information. Genius also sells data to media companies—that's the 'Next Gen Stats' fans see on broadcasts—and serves as the exclusive gatekeeper to live game broadcasts that sportsbooks can purchase to show alongside their odds. The NFL is the dominant force in U.S. broadcasting, with 72 games in the top 100 TV broadcasts in 2024. The league is also dominant in U.S. sports betting, as the American Gaming Association projected American adults would bet $35 billion with legal sportsbooks during the 2024 season. Genius will continue to provide 'integrity services' across all NFL games. The NFL was granted 18.5 million Genius shares in the original 2021 deal and 4 million more shares for the 2023 extension. Genius' stock is up 76% over the last 12 months. Advertisement Genius Sports works with more than 700 sports organizations across leagues, sportsbooks, brands and broadcasters, including the EPL, NCAA, DraftKings, FanDuel, Coca-Cola, NBC and ESPN. Best of Sign up for Sportico's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
Business Wire
11-06-2025
- Business
- Business Wire
The National Football League Expands and Extends Strategic Partnership with Genius Sports in Multi-Year Deal
NEW YORK & LONDON--(BUSINESS WIRE)--The National Football League ('NFL') and Genius Sports Limited ('Genius Sports') (NYSE:GENI) have agreed to a multi-year extension and expansion of their existing strategic technology partnership to power the next generation of NFL fan experiences through official data and video distribution. Genius Sports will remain the NFL's exclusive distributor of real-time, official play-by-play statistics, proprietary Next Gen Stats ('NGS') data and the League's official sports betting data feed to media companies and sports betting operators globally. In addition to exclusively distributing official NFL data, Genius Sports will continue as the sole supplier of official NFL watch and bet low latency live games to sportsbooks internationally and will now exclusively represent the in-game advertising inventory. Genius Sports continues to be an official reseller of the NFL's international owned and operated advertising inventory and the NFL's legalized sports betting advertising inventory in the US, all leveraging Genius Sports' proprietary FANHub platform. As part of the agreement, Genius Sports and the NFL will also collaborate on further activation opportunities with FANHub. The expansion of the partnership will also see the NFL and Genius Sports powering ground-breaking innovations across the NFL ecosystem. In 2023, the partnership launched BetVision, the world's first immersive sports betting streaming solution for local and national NFL low latency live games on phone and tablet in the US, as well as the EA SPORTS Madden NFL Cast in 2024, a first-of-its kind, fully branded live broadcast. GeniusIQ, Genius Sports' next generation sports data and AI platform, will continue to deliver breakthrough solutions across betting, advertising, broadcast and fan experiences for millions of NFL fans. Integrity of the game remains paramount to the NFL's legalized sports betting ventures, and Genius Sports will continue to provide robust integrity services across all NFL games and tentpole events. 'Across data, video, advertising, and integrity services, Genius has proven to be an important strategic partner through the first four seasons of our partnership,' said Brent Lawton, VP of Business Development & Strategic Investments at the NFL. 'We are excited to extend and expand our partnership as we continue to partner on innovative ways to deliver content to NFL fans.' 'The NFL delivers a tremendous platform to accelerate our business, and we are thrilled to extend and grow our strategic partnership,' said Mark Locke, CEO of Genius Sports. 'Our expanded NFL partnership further strengthens our leading position at the heart of the sports technology ecosystem, and represents a key milestone in our FANHub rollout, setting a new standard for data-driven immersive experiences for NFL fans, broadcasters, teams, sportsbooks, brands, and sponsors.' Forward-Looking Statements This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. All statements other than statements of historical facts are forward-looking statements. These forward-looking statements include information about our possible or assumed future results of operations or our performance. Words such as 'expects,' 'intends,' 'plans,' 'believes,' 'anticipates,' 'estimates,' and variations of such words and similar expressions are intended to identify such forward looking statements. Although Genius Sports believes that the forward-looking statements contained in this press release are based on reasonable assumptions, you should be aware that many factors could affect Genius Sports' actual financial results or results of operations and could cause actual results to differ materially from those in such forward-looking statements, including but not limited to: risks related to Genius Sports' partnership with the NFL and achievement of expected benefits from the technology partnership; and other factors included under the heading 'Risk Factors' in its Annual Report on Form 20-F for the year ended December 31, 2024. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although Genius Sports believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond Genius Sports' control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Genius Sports undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, or the documents to which we refer readers in this press release, to reflect any change in our expectations with respect to such statements or any change in events, conditions or circumstances upon which any statement is based. About Genius Sports Genius Sports is the official data, technology and broadcast partner that powers the global sports, betting and media ecosystem. Our technology is used in over 150 countries worldwide, creating highly immersive products that enrich fan experiences across the entire sports industry. We are the trusted partner to over 700 sports organisations, including many of the world's largest leagues, teams, sportsbooks, brands and broadcasters, such as the NFL, English Premier League, NCAA, DraftKings, FanDuel, bet365, Coca-Cola, EA Sports, CBS, NBC and ESPN. Genius Sports is uniquely positioned through AI, computer vision and big data to power the future of sports fan experiences. From delivering augmented broadcasts and enhanced highlights, to automated officiating tools, immersive betting solutions and personalized marketing activations, we connect the entire sports value chain from the rights holder all the way through to the fan.
Yahoo
06-05-2025
- Business
- Yahoo
Genius Sports Increases First Quarter Group Revenue and Group Adj. EBITDA by 20% and 188%, Respectively, and Maintains 2025 Outlook for 21% Group Revenue Growth and 20% Group Adj. EBITDA Margin
Group Adjusted EBITDA: Group Adjusted (non-GAAP) EBITDA was $19.8 million in the quarter, representing a 188% increase compared to the $6.9 million reported in the first quarter ended March 31, 2024 and 800 basis points of margin expansion. Group Net Loss: Group net loss was ($8.2 million) in the first quarter ended March 31, 2025, representing a $17.3 million improvement compared to the ($25.5 million) loss in the first quarter ended March 31, 2024. Sports Technology & Services: Revenue increased 12% year-over-year to $11.6 million primarily driven by an increase in sales of products built on GeniusIQ technology. Media Technology, Content & Services: Revenue decreased 27% year-over-year to $25.9 million, driven by lower programmatic and social advertising services compared to the first quarter ended March 31, 2024. Betting Technology, Content & Services: Revenue increased 44% year-over-year to $106.5 million, driven primarily by growth in business with existing customers as a result of price increases on contract renewals and renegotiations. "This quarter demonstrates the strong execution of our strategic objectives, as we continue our technology distribution, product innovation, and commercial momentum," said Mark Locke, Genius Sports Co-Founder and CEO. "Our largely fixed cost base, coupled with several durable growth drivers, reinforces our confidence in delivering sustainable growth, profitability, and cash flow in 2025 and beyond." LONDON & NEW YORK, May 06, 2025 --( BUSINESS WIRE )--Genius Sports Limited (NYSE:GENI) ("Genius Sports," "Genius" or the "Group"), the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media, today announced financial results for its fiscal first quarter ended March 31, 2025. Genius Sports' Board of Directors authorized a share repurchase program of up to $100m, given the confidence in the long-term profitability and cash flow outlook Story Continues Q1 2025 Business Highlights Announced new FANHub partnership with Deep Blue Sports + Entertainment, allowing brands to reach and engage women's sports fans Launched data-driven broadcast mode, Data Zone, for Ligue 1 McDonald's After the reporting period: Genius Sports confirmed as the exclusive provider of official NCAA data to licensed sportsbooks for March Madness and all post-season tournaments through 2032 Launched BetVision for Soccer to transform live betting and fan engagement for the world's most popular sporting events Premier League introduced semi-automated offside technology after non-live testing and live operation in FA Cup FANHub to promote the 2025 Indianapolis 500, following renewed partnership with EchoPoint Media Unveiled 3D immersive analysis technology with Performance Studio update, transforming player analysis and development Financial Outlook Genius Sports expects to generate Group Revenue of approximately $620 million and Group Adjusted EBITDA of approximately $125 million in 2025. This implies year-over-year Group Revenue and Adj. EBITDA growth of 21% and 46%, respectively. Genius Sports also expects to increase its positive annual cash flow in the full year of 2025. Share Repurchase Program The Board of Directors has approved a share repurchase program to repurchase up to $100 million of ordinary shares of Genius Sports, given the strong business performance and confidence in the long-term profitability and cash flow outlook. The timing and actual number of shares repurchased depends on a variety of factors, including price, general business and market conditions, and alternative investment opportunities, and is subject to the resolution of the shareholders adopted at our Annual General Meeting on December 12, 2024 regarding the conditions for share repurchases and any subsequent shareholder resolutions regarding Genius Sports' repurchase of its shares. The share repurchase program does not obligate Genius Sports to acquire any particular amount of ordinary shares, and the share repurchase program may be suspended or discontinued at any time at Genius Sports' discretion. Genius Sports expects to use current cash and cash equivalents and the cash flow it generates from operations to fund the share repurchase program. Genius Sports Limited Condensed Consolidated Statements of Operations (Unaudited) (Amounts in thousands, except share and per share data) Three Months Ended March 31, 2025 2024 Revenue $ 143,991 $ 119,718 Cost of revenue 108,789 106,911 Gross profit 35,202 12,807 Operating expenses: Sales and marketing 11,413 8,415 Research and development 8,946 6,621 General and administrative 34,535 21,585 Transaction expenses 732 464 Total operating expenses 55,626 37,085 Loss from operations (20,424 ) (24,278 ) Interest income, net 437 666 Loss on disposal of assets (12 ) (7 ) Gain (loss) on foreign currency 12,249 (1,087 ) Total other income (expense) 12,674 (428 ) Loss before income taxes (7,750 ) (24,706 ) Income tax expense (542 ) (1,100 ) Gain from equity method investment 94 265 Net loss $ (8,198 ) $ (25,541 ) Loss per share attributable to common stockholders: Basic and diluted $ (0.03 ) $ (0.11 ) Weighted average common stock outstanding: Basic and diluted 248,432,320 229,326,772 Genius Sports Limited Condensed Consolidated Balance Sheets (Amounts in thousands, except share and per share data) (Unaudited) March 31, December 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents $ 209,823 $ 110,213 Restricted cash, current 25,839 25,026 Accounts receivable, net 81,594 85,491 Contract assets 31,647 30,632 Prepaid expenses 37,331 27,333 Other current assets 10,360 9,902 Total current assets 396,594 288,597 Property and equipment, net 20,214 19,016 Intangible assets, net 115,316 115,539 Operating lease right-of-use assets 14,389 7,488 Goodwill 326,011 326,011 Deferred tax asset 1,244 1,192 Investments 29,313 31,717 Other assets 3,607 2,706 Total assets $ 906,688 $ 792,266 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 39,962 $ 36,661 Accrued expenses 66,811 79,172 Deferred revenue 58,195 73,388 Current debt 15 19 Operating lease liabilities, current 2,964 3,003 Other current liabilities 2,774 9,327 Total current liabilities 170,721 201,570 Deferred tax liability 13,680 13,802 Operating lease liabilities, non-current 11,444 4,489 Total liabilities 195,845 219,861 Shareholders' equity Common stock, $0.01 par value, unlimited shares authorized, 240,982,027 shares issued and 236,876,079 shares outstanding at March 31, 2025; unlimited shares authorized, 215,261,974 shares issued and 211,156,026 shares outstanding at December 31, 2024 2,410 2,153 B Shares, $0.0001 par value, 22,500,000 shares authorized, 14,500,000 shares issued and outstanding at March 31, 2025; 22,500,000 shares authorized, 18,500,000 shares issued and outstanding at December 31, 2024 1 2 Additional paid-in capital 1,856,644 1,700,065 Treasury stock, at cost, 4,105,948 shares at March 31, 2025 and December 31, 2024 (17,653 ) (17,653 ) Accumulated deficit (1,095,725 ) (1,087,527 ) Accumulated other comprehensive loss (34,834 ) (24,635 ) Total shareholders' equity 710,843 572,405 Total liabilities and shareholders' equity $ 906,688 $ 792,266 Genius Sports Limited Condensed Consolidated Statements of Cash Flows (Unaudited) (Amounts in thousands) Three Months Ended March 31, 2025 2024 Cash Flows from operating activities: Net loss $ (8,198 ) $ (25,541 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 16,396 21,138 Loss on disposal of assets 12 7 Stock-based compensation 12,835 6,745 Non-cash lease expense 839 1,096 Amortization of contract costs 362 292 Deferred income taxes (174 ) 5 Allowance for expected credit losses 95 243 Gain from equity method investment (94 ) (265 ) (Gain) loss on foreign currency remeasurement (12,382 ) 715 Changes in operating assets and liabilities Accounts receivable 3,802 (30,698 ) Contract assets (1,015 ) 12,577 Prepaid expenses (9,998 ) 3,357 Other current assets (642 ) (5,568 ) Other assets (1,038 ) 2,234 Accounts payable 3,302 (5,533 ) Accrued expenses (12,361 ) 7,532 Deferred revenue (15,193 ) 1,140 Other current liabilities (6,549 ) (3,005 ) Operating lease liabilities (797 ) (1,065 ) Net cash used in operating activities (30,798 ) (14,594 ) Cash flows from investing activities: Purchases of property and equipment (4,124 ) (1,453 ) Capitalization of internally developed software costs (13,349 ) (10,927 ) Distributions from equity method investments 2,498 1,410 Net cash used in investing activities (14,975 ) (10,970 ) Cash flows from financing activities: Proceeds from issuance of common shares, net of equity issuance costs 144,000 — Repayment of loans and mortgage (5 ) (5 ) Repayment of promissory notes — (7,575 ) Net cash provided by (used in) financing activities 143,995 (7,580 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,201 134 Net increase (decrease) in cash, cash equivalents and restricted cash 100,423 (33,010 ) Cash, cash equivalents and restricted cash at beginning of period 135,239 125,793 Cash, cash equivalents and restricted cash at end of period $ 235,662 $ 92,783 Supplemental disclosure of cash activities: Cash paid during the period for interest $ 644 $ — Cash paid during the period for income taxes $ 919 $ 322 Genius Sports Limited Reconciliation of U.S. GAAP Net loss to Adjusted EBITDA (Unaudited) (Amounts in thousands) Three Months Ended March 31, 2025 2024 (dollars, in thousands) Net loss $ (8,198 ) $ (25,541 ) Adjusted for: Net, interest income (437 ) (666 ) Income tax expense 542 1,100 Amortization of acquired intangibles (1) 2,182 10,204 Other depreciation and amortization (2) 14,576 11,226 Stock-based compensation (3) 17,312 7,669 Transaction expenses 732 464 Litigation and related costs (4) 3,368 1,199 (Gain) loss on foreign currency (12,249 ) 1,087 Other (5) 1,947 136 Adjusted EBITDA $ 19,775 $ 6,878 ____________ (1) Includes amortization of intangible assets generated through business acquisitions (inclusive of amortization for marketing products, acquired technology, and historical data rights related to the acquisition of a majority interest in Genius in 2018). (2) Includes depreciation of Genius' property and equipment, amortization of contract costs, and amortization of internally developed software and other intangible assets. Excludes amortization of intangible assets generated through business acquisitions. (3) Includes restricted shares, stock options, equity-settled restricted share units, cash-settled restricted share units and equity-settled performance-based restricted share units granted to employees and directors (including related employer payroll taxes). (4) Includes litigation and related costs incurred by the Company relating to discrete and non-routine legal proceedings that are not part of the normal operations of the Company's business. For the three months ended March 31, 2025 and 2024, legal proceedings included Sportscastr litigation, dMY litigation and Spirable litigation (as described in Item 3.D "Risks Related to Legal Matters and Regulations" in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 14, 2025 (the "2024 20-F")). All other legal proceedings are expensed as part of our on-going operations and included in general and administrative expenses. (5) Includes severance costs and non-recurring compensation payments, expenses incurred related to earn-out payments on historical acquisitions, gain/loss on disposal of assets, and professional fees for finance transformation project. Webcast and Conference Call Details Genius Sports management will host a conference call and webcast today at 8:00AM ET to discuss the Group's first quarter results. The live conference call and webcast may be accessed on the Genius Sports investor relations website at along with Genius' earnings press release and related materials. A replay of the webcast will be available on the website within 24 hours after the call. About Genius Sports Genius Sports is the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media. Our technology is used in over 150 countries worldwide, creating highly immersive products that enrich fan experiences for the entire sports industry. We are the trusted partner to over 400 sports organizations, including many of the world's largest leagues and federations such as the NFL, EPL, FIBA, NCAA, NASCAR, AFA and Liga MX. Genius Sports is uniquely positioned through cutting-edge technology, scale and global reach to support our partners. Our innovative use of big data, computer vision, machine learning, and augmented reality, connects the entire sports ecosystem from the rights holder all the way through to the fan. Non-GAAP Financial Measures This press release includes non-GAAP financial measures not presented in accordance with U.S. GAAP. A reconciliation of the most comparable GAAP measure to its non-GAAP measure is included above. Adjusted EBITDA We present Group adjusted EBITDA and Group adjusted EBITDA margin, non-GAAP performance measures, to supplement our results presented in accordance with U.S. GAAP. Group Adjusted EBITDA is defined as earnings before interest, income tax, depreciation and amortization and other items that are unusual or not related to Genius' revenue-generating operations, including but not limited to stock-based compensation expense (including related employer payroll taxes), litigation and related costs, transaction expenses and gain or loss on foreign currency. Group Adjusted EBITDA is used by management to evaluate Genius' core operating performance on a comparable basis and to make strategic decisions. Genius believes Group Adjusted EBITDA is useful to investors for the same reasons as well as in evaluating Genius' operating performance against competitors, which commonly disclose similar performance measures. However, Genius' calculation of Group Adjusted EBITDA may not be comparable to other similarly titled performance measures of other companies. Group Adjusted EBITDA and Group Adjusted EBITDA margin are not intended to be a substitute for any US GAAP financial measure. We do not provide a reconciliation of Group adjusted EBITDA to consolidated net income/(loss) on a forward-looking basis because we are unable to forecast certain items required to develop meaningful comparable GAAP financial measures without unreasonable efforts. These items are difficult to predict and estimate and are primarily dependent on future events. The impact of these items could be significant to our projections. Forward-Looking Statements This press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. All statements other than statements of historical facts are forward-looking statements. These forward-looking statements include information about our possible or assumed future results of operations or our performance. Words such as "expects," "intends," "plans," "believes," "anticipates," "estimates," and variations of such words and similar expressions are intended to identify such forward looking statements. Although we believe that the forward-looking statements contained in this press release are based on reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in such forward-looking statements, including but not limited to: risks related to our reliance on relationships with sports organizations and the potential loss of such relationships or failure to renew or expand existing relationships; fraud, corruption or negligence related to sports events, or by our employees or contracted statisticians; risks related to changes in domestic and foreign laws and regulations or their interpretation; compliance with applicable data protection and privacy laws; pending litigation and investigations; the failure to protect or enforce our proprietary and intellectual property rights; claims for intellectual property infringement; our reliance on information technology; elevated interest rates and inflationary pressures, including fluctuating foreign currency and exchange rates; risks related to domestic and international political and macroeconomic uncertainty; our share repurchase program; and other factors included under the heading "Risk Factors" in the 2024 20-F. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although we believe that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements contained in this press release, or the documents to which we refer readers in this press release, to reflect any change in our expectations with respect to such statements or any change in events, conditions or circumstances upon which any statement is based. View source version on Contacts Media Chris Dougan, Chief Communications Officer +1 (202) 766-4430 Investors Brandon Bukstel, Investor Relations Manager +1 (954)-554-7932
