Genius Sports Exceeds Expectations in Third Quarter with Noteworthy Revenue Growth

LONDON, ENGLAND (December 31, 2024) - Genius Sports Limited, a leading provider of sports technology and media services, has reported significant revenue growth for the third quarter of the year. The company's revenue has increased by 18.2% to $120.2M from last year, representing a notable trendline that continues its ascent in 2024.

The betting technology, content, and services category played a pivotal role in driving this growth, with its revenue surging 29.9% to $85.6M. This marked another quarter of YoY increases for this category, with impressive rises seen in each of the past three quarters: 14.1% YoY increase in Q1 and 18% YoY rise in last quarter.

Genius Sports' financial performance also warrants attention, as the company achieved a substantial net income of $12.5M in the third quarter despite facing a $11.6 loss in the same period last year. This marked a noteworthy improvement that underscores the company's solid progress over time.

Notably, the firm secured a key long-term deal with ESPN for enhanced broadcasts around several high-profile leagues such as the NBA, WNBA, and NCAA. Furthermore, Genius Sports appointed Mark Kropf as its new Chief Technology Officer (CTO), drawing expertise from former Google Cloud, where he previously worked.

Genius Sports Limited has recently been honored by SBJ's prestigious "10 Most Innovative Sports Tech Companies" list. The third class of honorees will be announced on December 6. With this strong performance and growth in key areas like revenue, partnerships, and talent acquisition, Genius Sports solidified its position as a leading sports technology player.

(Disclaimer: Please note that the article was rewritten based on provided content. It's essential to verify information from multiple sources for accuracy.)