Genius Sports Nets $175.5M in Q4 2024, Boosting Yearly Revenue to $510.9M
Genius Sports closed out 2024 with a powerhouse Q4, pulling in $175.5 million in group revenue, a 38% leap from the prior year. The sports tech firm’s full-year haul reached $510.9 million, up 24%, fueled by strong growth in betting and sports technology services.
A Revenue Surge
In Q4, Genius Sports saw betting technology, content, and services revenue soar 48% to $128.2 million, driven by price hikes and renegotiated contracts with existing clients.
Media technology and services grew 4% to $29.8 million, boosted by social and programmatic ad gains in the Americas. Sports technology and services jumped 47% to $17.6 million, largely from GeniusIQ product sales.
The net loss shrank to $28.2 million from $38.5 million in Q4 2023, a $10.2 million improvement. Adjusted EBITDA skyrocketed 171% to $32.4 million from $12 million, with the margin hitting 18.4%, up 900 basis points.
“2024 was a defining year for commercial execution,” said Mark Locke, Co-Founder and CEO. “The renewal of key contracts and reinforcement of our solid infrastructure lays the foundation for sustainable growth and profitability over the next several years.”
Innovation in Action
Q4 brought a flurry of milestones. Genius Sports launched Next Gen Stats highlights with the Los Angeles Rams and powered the “EA Sports Madden NFL Cast” on Peacock, a data-driven alternate broadcast.
It also delivered the “NBA 2K25 DataCast” for the Emirates NBA Cup on truTV and Max. A free “Bowl Season Pick’em” game debuted with Bowl Season, and player-tracking tech rolled out with France’s Ligue de Football Professionnel.
Post-quarter, Genius added data-rich Lithuanian basketball streams with Krekenavos sponsorships and partnered with Index Exchange to expand premium sports ad offerings.
In early 2025, the company raised $144 million in a public offering, backed by Caledonia, Wellington Management, and new investors.
“We have consistently exceeded expectations, bolstered our technology advantage, and strengthened our balance sheet,” Locke said. “This now positions Genius Sports for continued success in 2025 and a clear path to achieve greater scale.”
Steady Gains in 2024
For all of 2024, group revenue rose 24% to $510.9 million. Betting technology led with a 29% increase to $354.9 million, followed by media technology at $105.3 million (up 15%), and sports technology at $50.7 million (up 8%).
The net loss dropped to $63 million from $85.5 million in 2023, a $22.5 million recovery. Adjusted EBITDA climbed 61% to $85.7 million, with a 390-basis-point margin gain.
Genius Sports projects $620 million in group revenue for 2025, a 21% jump, and $125 million in adjusted EBITDA, up 46%. The EBITDA margin should rise 340 basis points to 20%.
The firm expects another year of 20%-plus revenue growth, margin expansion, and positive cash flows.
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