{"id":1871,"date":"2023-05-11T14:47:46","date_gmt":"2023-05-11T13:47:46","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=1871"},"modified":"2023-05-11T14:47:47","modified_gmt":"2023-05-11T13:47:47","slug":"genius-raises-guidance-for-fy23-on-improved-first-quarter-results","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2023\/05\/11\/genius-raises-guidance-for-fy23-on-improved-first-quarter-results\/","title":{"rendered":"Genius Raises Guidance for FY23 on Improved First-quarter Results"},"content":{"rendered":"\n

Genius Sports<\/strong> is expected to enter positive cash flow in the second half of this year, after narrowing its deficit in the first quarter of 2023.<\/p>\n\n\n\n

The company’s quarterly revenue rose 13% to $97.2 million (Q1 2022: $86.9 million), along with adjusted EBITDA of $8 million, representing a significant increase of 378% from the corresponding loss in Q1 2022 in the amount of $3 million, while the margin was 8%.<\/p>\n\n\n\n

CEO Mark Locke<\/strong> said: \u00abFollowing a strong year of execution in 2022, we are pleased to continue our momentum to start the new year, with the first quarter of 2023 marking another period of outperformance relative to our guidance.<\/p>\n\n\n\n

The company explained that the net loss for the year was primarily driven by internet income, losses on disposals of assets that increased from $6 million to $11 million, losses from the revaluation of contingent considerations and changes in the value of warrant liabilities. <\/p>\n\n\n\n

Genius claims that by the end of the year the revenues of all three segments of the company will grow. In 2022 Betting Technology will generate $256M (up from the current $209.2M), Media Technology $96M (up from $82.7M) and Sports Technology $49M, representing $400M of projected group-wide revenue.<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Genius Sports is expected to enter positive cash flow in the second half of this year, after narrowing its deficit in the first quarter of 2023. The company’s quarterly revenue rose 13% to $97.2 million (Q1 2022: $86.9 million), along with adjusted EBITDA of $8 million, representing a significant increase of 378% from the corresponding […]<\/p>\n","protected":false},"author":6,"featured_media":754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[3547,381,3543,3546,2784,3544,3553,3542,3552,3548,3551,3549,3550,3545,2044,1512,3430],"class_list":{"0":"post-1871","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-news","8":"tag-accounting","9":"tag-business","10":"tag-earnings","11":"tag-economics","12":"tag-finance","13":"tag-financial-analysis","14":"tag-financial-report","15":"tag-first-quarter","16":"tag-fiscal-year-23","17":"tag-forecasts","18":"tag-genius","20":"tag-improvement","21":"tag-investing","22":"tag-results","23":"tag-stocks","24":"tag-success"},"yoast_head":"\nGenius Raises Guidance for FY23 on Improved First-quarter Results - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2023\/05\/11\/genius-raises-guidance-for-fy23-on-improved-first-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genius Raises Guidance for FY23 on Improved First-quarter Results - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Genius Sports is expected to enter positive cash flow in the second half of this year, after narrowing its deficit in the first quarter of 2023. The company’s quarterly revenue rose 13% to $97.2 million (Q1 2022: $86.9 million), along with adjusted EBITDA of $8 million, representing a significant increase of 378% from the corresponding […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sbceurasia.com\/en\/2023\/05\/11\/genius-raises-guidance-for-fy23-on-improved-first-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"SBC EURASIA EN\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-11T13:47:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-11T13:47:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2022\/12\/Genius-Sports.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1312\" \/>\n\t<meta property=\"og:image:height\" content=\"646\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Ana Kobakhidze\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ana Kobakhidze\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sbceurasia.com\/en\/2023\/05\/11\/genius-raises-guidance-for-fy23-on-improved-first-quarter-results\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2023\/05\/11\/genius-raises-guidance-for-fy23-on-improved-first-quarter-results\/\"},\"author\":{\"name\":\"Ana Kobakhidze\",\"@id\":\"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/1444eb87c339a10fb03044577ed751a7\"},\"headline\":\"Genius Raises Guidance for FY23 on Improved First-quarter Results\",\"datePublished\":\"2023-05-11T13:47:46+00:00\",\"dateModified\":\"2023-05-11T13:47:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2023\/05\/11\/genius-raises-guidance-for-fy23-on-improved-first-quarter-results\/\"},\"wordCount\":206,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2023\/05\/11\/genius-raises-guidance-for-fy23-on-improved-first-quarter-results\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2022\/12\/Genius-Sports.png\",\"keywords\":[\"accounting\",\"business\",\"earnings\",\"economics\",\"finance\",\"financial analysis\",\"financial report\",\"first quarter\",\"fiscal year 23\",\"forecasts\",\"Genius\",\"growth\",\"improvement\",\"investing\",\"results\",\"stocks\",\"success\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/sbceurasia.com\/en\/2023\/05\/11\/genius-raises-guidance-for-fy23-on-improved-first-quarter-results\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sbceurasia.com\/en\/2023\/05\/11\/genius-raises-guidance-for-fy23-on-improved-first-quarter-results\/\",\"url\":\"https:\/\/sbceurasia.com\/en\/2023\/05\/11\/genius-raises-guidance-for-fy23-on-improved-first-quarter-results\/\",\"name\":\"Genius Raises Guidance for FY23 on Improved First-quarter Results - 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