Genius Sports Targets $511M Revenue for 2024
Genius Sports has its sights set on $511 million in revenue and an adjusted EBITDA of $86 million for 2024. The company plans to maintain a positive net cash position, building on recent momentum and solidifying its role as a leader in sports data and technology.
Financial Gains and Renewed Contracts
By the end of 2024, Genius Sports expects to hold $135 million in cash and equivalents. This is a notable increase from $69 million in September and $126 million at the close of 2023.
Renewed agreements with top U.S. sportsbooks have bolstered the company’s standing in a competitive market, fueling its growth trajectory.
Expanding Through Strategic Partnerships
Genius Sports has secured several major partnerships, strengthening its global presence:
Football DataCo Agreement: The company extended its exclusive betting rights with Football DataCo through 2029, ensuring continued access to data for top leagues like the Premier League.
WNBA Player Tracking: Expanding into women’s sports, Genius Sports introduced player tracking technology for the WNBA;
Fantasy Sports Platform: In collaboration with HBA Media, it launched Crown Jewels Racing Fantasy, adding a new layer to its offerings for sports fans.
Pioneering New Technologies
Genius Sports continues to innovate, rolling out tools designed to enhance fan engagement and operator services:
- Edge Suite: A set of interactive free-to-play games aimed at driving fan engagement.
- AR Highlights: The company partnered with Brentford FC and Gtech to launch augmented reality-powered in-game highlights.
- FANHub: A new advertising platform tailored to connect brands directly with sports fans.
With a focus on AI and computer vision technologies, Genius Sports is revolutionizing data collection across leagues worldwide. These set the stage for the next generation of sports analytics and fan engagement.
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