Genius Sports Reports Strong Q1 Growth and Boosts 2026 Projections Following Legend Acquisition
Genius Sports Achieves Robust Revenue and EBITDA Growth in Q1
Genius Sports announced its financial results for the first quarter ending March 31, 2026, showcasing impressive double-digit growth across its core segments. The company’s total revenue rose to $188 million, marking a 30.5% increase or an additional $44 million compared to the previous year.
The Betting Technology, Content & Services division led the way with revenue reaching $146.2 million, a 33% year-over-year surge driven by strong customer retention, contract renewals, and business expansion. Meanwhile, the Media Technology, Content & Services segment posted $41.7 million in revenue, reflecting a 22% increase fueled by higher sales of GeniusIQ-based products and the introduction of the Moment Engine platform.
Despite these positive trends, the company’s net loss widened significantly to $55.2 million, a 576.6% increase compared to the same period last year. This increase is primarily attributed to costs associated with the recent acquisition of Legend and fluctuations in foreign exchange rates.
Adjusted EBITDA for the group improved to $24 million, up 21% year-on-year, resulting in a margin of 12.8% for the quarter.
Key Accomplishments Highlighted by Genius Sports
Several notable milestones were recognized in the quarter, including a record-breaking performance during March Madness, marking the company’s inaugural year as the exclusive official data provider for NCAA events.
Genius Sports also successfully integrated its Moment Engine platform with partners and collaborated with WPP Media to innovate sports media advertising intelligence through the launch of WPP Brand Sports.
The company introduced Momentum Score, a new analytics tool designed to pinpoint optimal sports, audiences, and moments for investment. Additionally, the BetVision platform was expanded to include Tennis, enhancing betting experiences, and an augmented advertising platform was launched in partnership with NBC Sports Regional Networks.
Partnership activity included a new agreement with Magnite and a comprehensive partnership with the Pac-12 focused on integrity, technology, and artificial intelligence.
Following the quarter, Genius Sports secured an AI partnership with Liga MX and finalized the acquisition of Legend.
Upgraded Financial Outlook Thanks to Legend Acquisition
With the Legend acquisition now complete, Genius Sports elevated its financial guidance for 2026. The company now anticipates total group revenue between $990 million and $1.01 billion, coupled with adjusted EBITDA ranging from $270 million to $280 million. This revision suggests an improved adjusted EBITDA margin near 28% at the midpoint, up from an earlier projection of 23%.
For Q2, the company expects revenue and adjusted EBITDA to be approximately $185 million and $45 million respectively.
CEO Mark Locke Comments on Company Progress
Mark Locke, the founder and CEO of Genius Sports, reflected positively on the first quarter results, highlighting the strength and resilience of the company’s business model. He applauded the significant revenue and EBITDA growth, the widening customer base, and the successful rollout of innovative products.
“With the acquisition of Legend now complete, we are expanding our platform deeper into fan engagement and participation, creating new opportunities across sports, media, and iGaming. This combination enhances our long-term growth prospects, boosts monetization across our ecosystem, and is expected to drive substantial margin growth and cash flow over time.”
In recent company leadership updates, Tony Marlow was appointed as the new Chief Marketing Officer.
