Genius Sports Q3 Earnings Top Estimates

Genius Sports Ltd GENI reported third-quarter FY22 sales growth of 13.8% year-on-year to $78.65 million, beating the consensus of $78.16 million.
Segment Revenue: Betting Technology, Content & Services increased 12.6%, Media Technology, Content & Services jumped 29%, and Sports Technology & Services fell 0.3%.
The loss from operations narrowed to $(33.4) million.
The company held $150 million in cash and equivalents as of September 30, 2022.
Adjusted EBITDA was $7.6 million with the margin of 9.7%.
EPS loss of $(0.04) beat the analyst consensus of $(0.07).
Outlook: Genius Sports reaffirms FY22 group revenue guidance of $340 million (consensus $339.76 million) and adjusted EBITDA of about $15 million.
For FY23, the company expects group revenue of $430 million - $440 million (consensus $405.56 million) and adjusted EBITDA of $40 million - $50 million.
Price Action: GENI shares are trading higher by 0.76% at $4.65 on the last check Thursday.
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