- Genius Sports Ltd (NYSE:GENI) reported second-quarter FY22 sales growth of 27.3% year-on-year, to $71.12 million, beating the consensus of $65.26 million.
- Segment Revenue: Betting Technology, Content & Services increased 10%, Media Technology, Content & Services jumped 88%, and Sports Technology & Services grew 57%.
- The loss from operations narrowed to $(39.7) million.
- The company held $175 million in cash and equivalents as of June 30, 2022.
- Adjusted EBITDA of $8.4 million rose 61.1% Y/Y, with the margin expanding from 9.3% to 11.8%.
- EPS loss of $(0.02) beat the analyst consensus of $(0.09).
- Outlook: Genius Sports reaffirms FY22 group revenue guidance of $340 million and adjusted EBITDA of about $15 million.
- For FY23, the company expects group revenue of $430 million – $440 million and adjusted EBITDA of $40 million – $50 million.
- Price Action: GENI shares are trading higher by 4.19% at $4.73 on the last check Tuesday.
Bitcoin Holders Should Be Watching This Dot Plot At Today’s FOMC Meeting
Wednesday’s highly anticipated Federal Open Market Committee (FOMC) meeting could set the stage for a bullish run in the cryptocurrency market if one important indicator aligns, according to a crypto analyst.
