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Genius Sports Q2 revenues up 27 per cent but $4.8m loss posted

Genius Sports co-founder and chief executive Mark Locke (Genius Sports).

Global betting data services company Genius Sports has increased its second-quarter revenues by 27 per cent year-on-year, but the cost of acquiring premium sports rights and buttressing its technology capabilities continues to be felt in its accounts with the company declaring a $4.83m (€4.76m) loss for the period ending June 30, 2022.

Group revenue for the publicly listed firm stood at $71.1m compared with $55.8m for the equivalent second quarter of 2021. On a constant currency basis, revenue increased by $21m, or 42 per-cent year-over-year. Group adjusted Ebitda (earnings before interest, taxes, depreciation and amortisation) stood at $8.36m compared with $5.19m in Q2 last year.

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