Genius Sports experienced a 330% EBITDA jump in H1 2023

Genius Sports experienced a 330% EBITDA jump in H1 2023

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Genius Sports experienced a 330% EBITDA jump in H1 2023

Genius Sports has recently published its Q2 and H1 2023 financial performance analysis.

The report started off with the company’s performance in the year’s second quarter, during which Genius Sports generated over 86 million dollars in revenue. This was more than 22% higher than the company’s revenue of 71 million dollars in the second quarter of the prior year.

The majority of this revenue originated from the firm’s wagering products and services, which generated just under 57 million dollars in the period. This segment also experienced the most growth in the quarter, increasing by almost 27% from 44.8 million dollars recorded in 2022. Following this were the company’s media and sports offerings, which generated 18.4 million and 11.6 million dollars in the quarter respectively.

Genius Sports’ revenue increase led to a much more substantial increase in the firm’s EBITDA, which went up by more than 87% from 8.4 million dollars to 15.7 million dollars. Its EBITDA margin experienced an increase as well, going from 11.8% to 18% in the quarter.

Additionally, the company’s increases in the quarter were also reflected in its H1 results, during which Genius Sports’ revenue went up by 17% from 157 million dollars to 184 million dollars. The firm’s EBITDA figure for the year’s first half, however, experienced the largest increase at more than 330%, going from 5.5 million dollars in the first half of last year to 23.7 million dollars this year.

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