Genius Sports continues trending up in Q3 earnings

Genius Sports continued its positive 2024 trendline, reporting a third quarter revenue of $120.2M, which represents an 18.2% YoY increase. Yet again betting led the way, with its betting technology, content and services category providing the biggest boost to that figure with $85.6M (a 29.9% YoY jump). That category has seen YoY increases in every quarter of 2024 — 14.1% in Q1 and 18% in Q2.  

The company now projects $511M in revenue for 2024. Genius Sports also saw a Q3 net income of $12.5M, a drastic improvement from the $11.6 loss in the same quarter last year.  

Q3 featured a long-term deal between Genius Sports and ESPN for enhanced broadcasts around the NBA, WNBA and NCAA. Genius also found a new CTO during the three-month period, hiring former Google Cloud exec Mark Kropf.  

Genius Sports was recognized as one of SBJ’s 10 Most Innovative Sports Tech Companies earlier this year. The third class of honorees will be announced on Dec. 6.