TLDR
- Genius Sports raised its full-year 2026 revenue and EBITDA guidance for the second time this year.
- Second quarter revenue reached $195.5 million, a 65% increase from last year and above the company’s own forecast.
- Net loss widened to $76.7 million, up from $53.9 million a year earlier, due to higher costs.
- Media technology revenue nearly tripled to $78.2 million, driven by the $1.2 billion Legend acquisition.
- New deals with Polymarket and Kalshi expand Genius Sports into prediction markets.
Genius Sports raised its full-year 2026 outlook again after a second quarter that saw strong revenue growth. The London-based sports data company posted results that beat its own guidance despite a wider net loss.
Revenue for the three months ending June 30 reached $195.5 million. That marked a 65% increase from the same period last year and topped the company’s forecast of $185 million.
The company also raised its adjusted EBITDA outlook for the year. Higher operating costs and tax payments pushed the quarterly net loss to $77 million.
Genius Sports now expects 2026 revenue between $1.01 billion and $1.03 billion. That is up from the previous range of $990 million to $1.01 billion set after the first quarter.
Adjusted EBITDA guidance also moved higher, to a range of $285 million to $295 million. The earlier estimate was $270 million to $280 million.
Founder and CEO Mark Locke said the company continues to benefit from years of infrastructure investment. He pointed to growing advertiser demand and new opportunities in prediction markets.
Locke said the business exceeded guidance on revenue, adjusted EBITDA and cash in its first quarter as a combined company. He credited early benefits from the Legend integration.
Media Technology Revenue Nearly Triples
Genius Sports’ media technology division saw the fastest growth in the quarter. Revenue in that segment rose to $78.2 million, nearly three times higher than a year earlier.
The company said the jump came largely from its $1.2 billion acquisition of Legend, which closed in May. Demand for its Moment Engine product and GeniusIQ tools also added to the growth.
Betting technology remained the largest source of revenue for the company. That segment brought in $117.4 million, a 28% increase from last year.
The growth in betting technology came from renewed contracts at higher prices. New value-added services and expansion into existing markets also contributed.
During the quarter, Genius Sports signed an AI and technology partnership with Liga MX in Mexico. It also struck a deal with the Swiss Football League.
The company added agreements with prediction market platforms Polymarket and Kalshi. These deals open new revenue paths outside traditional sports betting.
Higher Costs Widen Net Loss
Despite the revenue growth, rising costs affected the bottom line. Operating loss narrowed to $55.7 million from $80.7 million a year earlier.
Non-operating expenses pushed the pre-tax loss to $77.4 million for the quarter. Last year’s results had also included a $27 million foreign exchange gain, making this year’s comparison harder.
Net loss for the quarter came in at $76.7 million. That is up from $53.9 million in the same period last year, even with lower tax payments and gains from equity investments.
Adjusted EBITDA climbed 54% to $52.6 million. The company said this gave it confidence in its raised outlook for the rest of the year.
For the first half of 2026, Genius Sports reported revenue of $383.5 million, a 46% increase from last year. Net loss for the six-month period widened to $132.2 million.
Adjusted EBITDA for the first half rose 42% to $76.6 million. The company said this performance supports its updated guidance through the end of the year.
