Genius Sports Ltd (GENI): Financial results for Q2 2026
Genius Sports Ltd (GENI) furnished an SEC Form 6-K — earnings release. Exhibit 99.2 Genius Sports Beats Second Quarter Guidance and Raises Full-Year Outlook • Second Quarter Group Revenue of $196m vs. guidance of $185m • Group Net Loss of $77m in the Second Quarter, primarily driven by non-recurring transaction-related expenses • Second Quarter Grou
How this was made
The 30-second read
Why it matters
The earnings beat and guidance lift provide a fresh catalyst for price appreciation, especially for traders focused on sports‑data and betting technology exposure.
Market read
First‑hand earnings release with upgraded guidance creates immediate trading opportunity; sector peers may see spill‑over effects.
What to watch
Higher net loss and significant transaction expenses could pressure cash flow if revenue growth slows.
Genius Sports Beats Second Quarter Guidance and Raises Full-Year Outlook
Group Revenue of $196m exceeded guidance of $185m, Group Adjusted EBITDA of $53m exceeded guidance of $45m, and the company raised its full-year 2026 revenue, Adjusted EBITDA and implied Adjusted EBITDA margin outlook.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Group RevenueGAAP | $195.5 million | – | 64.7% |
| Cost of revenueGAAP | $131,716 (Amounts in thousands) | – | – |
| Gross profitGAAP | $63,787 (Amounts in thousands) | – | – |
| Sales and marketing expenseGAAP | $17,506 (Amounts in thousands) | – | – |
| Research and development expenseGAAP | $13,385 (Amounts in thousands) | – | – |
| General and administrative expenseGAAP | $59,537 (Amounts in thousands) | – | – |
| Transaction-related expensesGAAP | $28,924 (Amounts in thousands) | – | – |
| Total operating expensesGAAP | $119,352 (Amounts in thousands) | – | – |
| Loss from operationsGAAP | ($55.6 million) | – | – |
| Interest expense, netGAAP | $13,815 (Amounts in thousands) | – | – |
| Loss on fair value remeasurement of contingent considerationGAAP | $8,000 (Amounts in thousands) | – | – |
| Gain on foreign currencyGAAP | $36 (Amounts in thousands) | – | – |
| Group Net LossGAAP | ($76.7 million) | – | (42.2%) |
| Loss per share attributable to common stockholders, basic and dilutedGAAP | $(0.28) | – | – |
| Group Adjusted EBITDAnon-GAAP | $52.6 million | – | 54.0% |
| Group Adjusted EBITDA Marginnon-GAAP | 26.9% | – | (190 bps) |
| Year-to-date Group RevenueGAAP | $383,455 (Amounts in thousands) | – | 46.0% |
| Year-to-date Group Net LossGAAP | $(132,201) (Amounts in thousands) | – | (112.7%) |
| Year-to-date Group Adjusted EBITDAnon-GAAP | $76,582 (Amounts in thousands) | – | 42.0% |
| Year-to-date Group Adjusted EBITDA Marginnon-GAAP | 20.0% | – | (50 bps) |
| Net cash used in operating activities, six months ended June 30GAAP | $(147,238) (Amounts in thousands) | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Betting Technology, Content & ServicesGrowth in business with existing customers as a result of price increases on contract renewals and renegotiations, expansion of value-add services, growth and expansion in existing markets, and new service offerings. | $117.4 million | – | 27.5% |
| Media Technology, Content & ServicesThe addition of Legend, increased demand for the Genius Sports Moment Engine, and continued commercial momentum for GeniusIQ-powered products. | $78.2 million | – | 192.8% |
Full year 2026 and fiscal third quarter ending September 30, 2026 outlook
- RevenueFull year 2026 Group Revenue of $1.005 billion to $1.025 billion; fiscal third quarter Group Revenue of approximately $260 million
- NoteFull year 2026 Group Adjusted EBITDA of $285 to $295 million
- NoteFull-year Group Adjusted EBITDA Margin of approximately 28.6% at the midpoint
- NoteFiscal third quarter Adjusted EBITDA of approximately $85 million
- Note2026 year-end cash balance of approximately $260 million
- NoteOver $100 million of total cash flow in the second half of 2026
What drove it
- Group revenue increased $76.8 million year-over-year to $195.5 million.
- Legend was acquired on May 1, 2026 and contributed to Media Technology, Content & Services growth.
- Management cited early Legend synergies, strong execution across the combined Media business and incremental contribution from prediction markets.
- The company partnered with Polymarket and Kalshi after the reporting period to provide content, integrity services and marketing solutions.
Concerns
- Group net loss was ($76.7 million), compared with a loss of ($53.9 million) in the second quarter ended June 30, 2025.
- The quarter included $28.9 million of non-recurring transaction expenses, $13.8 million of net interest expense and an $8.0 million loss on fair value remeasurement of contingent consideration.
- The year-over-year net-loss change also included a $27.0 million decrease in foreign currency gain.
- Group Adjusted EBITDA Margin was 26.9%, compared with 28.8% in the second quarter ended June 30, 2025.
- Net cash used in operating activities was ($147,238) (Amounts in thousands) for the six months ended June 30, 2026.
What to watch
- Delivery of full-year 2026 Group Revenue guidance of $1.005 billion to $1.025 billion and Group Adjusted EBITDA guidance of $285 to $295 million.
- Execution of the Legend integration and realization of anticipated synergies.
- The scale and contribution of prediction-markets partnerships with Polymarket and Kalshi.
- Progress toward a 2026 year-end cash balance of approximately $260 million and over $100 million of total cash flow in the second half of 2026.
- Third-quarter Group Revenue of approximately $260 million and Adjusted EBITDA of approximately $85 million.
Balance sheet and cash flow
- Cash and cash equivalents were $155,076 (Amounts in thousands) at June 30, 2026, compared with $280,559 (Amounts in thousands) at December 31, 2025.
- Current debt was $30,937 (Amounts in thousands) at June 30, 2026.
- Long-term debt, less current portion, was $754,358 (Amounts in thousands) at June 30, 2026.
- Net cash used in investing activities was $(617,370) (Amounts in thousands) for the six months ended June 30, 2026, including $(578,760) (Amounts in thousands) for acquisition of business, net of cash acquired.
- Net cash provided by financing activities was $642,958 (Amounts in thousands) for the six months ended June 30, 2026, including $825,000 (Amounts in thousands) of proceeds from issuance of long-term debt and $(137,697) (Amounts in thousands) of repayment of loans and mortgage.
- Purchases of property and equipment were $(11,500) (Amounts in thousands) and capitalization of internally developed software costs was $(29,239) (Amounts in thousands) for the six months ended June 30, 2026.
Analysis
Genius Sports reported a strong second quarter against its stated outlook. Group Revenue was $196m versus guidance of $185m, while Group Adjusted EBITDA was $53m versus guidance of $45m. Revenue increased 64.7% year-over-year to $195.5 million and Adjusted EBITDA increased 54.0% to $52.6 million. The 26.9% Adjusted EBITDA margin was 258bps above the margin implied by guidance, although it was below the 28.8% reported in the prior-year quarter.
Growth was led by Media Technology, Content & Services, where revenue increased 192.8% to $78.2 million. The company attributed the increase to the Legend addition, demand for the Genius Sports Moment Engine and commercial momentum for GeniusIQ-powered products. Betting Technology, Content & Services revenue increased 27.5% to $117.4 million, supported by customer pricing actions, value-add services, market expansion and new offerings.
GAAP results remained loss-making. Group net loss was ($76.7 million), compared with ($53.9 million) a year earlier, despite loss from operations improving to ($55.6 million) from ($80.7 million). Management identified $28.9 million of non-recurring Legend transaction expenses, $13.8 million of net interest expense following term-loan financing, an $8.0 million contingent-consideration remeasurement loss and a $27.0 million decrease in foreign currency gain as drivers of the net-loss change.
The balance sheet reflects the Legend transaction and its financing. Cash and cash equivalents were $155,076 (Amounts in thousands) at June 30, 2026, while current debt was $30,937 (Amounts in thousands) and long-term debt, less current portion, was $754,358 (Amounts in thousands). For the first six months, operating cash flow was an outflow of ($147,238) (Amounts in thousands), investing cash flow included $(578,760) (Amounts in thousands) for acquisition of business, net of cash acquired, and financing activities included $825,000 (Amounts in thousands) of long-term debt proceeds.
Management raised full-year guidance to Group Revenue of $1.005 billion to $1.025 billion and Adjusted EBITDA of $285 to $295 million, from prior ranges cited in the release of $990 million to $1.010 billion and $270 to $280 million. The implied full-year Adjusted EBITDA Margin at the midpoint is approximately 28.6%, raised from approximately 27.5%. The company also expects approximately $260 million of year-end cash and over $100 million of total cash flow in the second half, with third-quarter revenue and Adjusted EBITDA expected to be approximately $260 million and $85 million, respectively.
Management, verbatim
We continue to realize the benefits of the infrastructure we've spent years building. Advertisers are placing greater value on our combination of official data and audience, prediction markets are opening an entirely new avenue for growth, and our core Betting business continues to outperform. As we continue to scale GeniusIQ, that foundation positions Genius to deliver durable long-term growth, profitability and cash generation.
Mark Locke, Founder and CEO
Not in the filing
stated, not guessed- GAAP gross margin
- Non-GAAP earnings or loss per share
- Free cash flow
- Quarterly operating cash flow
- Quarterly free cash flow
- Capital return amounts, including share repurchases and dividends
- Gross-margin guidance
- Operating-expense guidance
- Tax-rate guidance
- Quarter-over-quarter comparisons for reported metrics
- A separately provided previous outlook section for guidance comparisons
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Genius Sports Ltd (NYSE:GENI) filed a Form 6‑K reporting its Q2 2026 results, beating internal guidance and increasing full‑year forecasts after completing the Legend acquisition.
Ticker impact
Q2 2026 earnings beat guidance and raised full-year revenue and EBITDA outlook
Expect short‑term upside as investors price in higher guidance; target +8‑10% over next 2‑4 weeks.
First‑hand SEC 6‑K release with fresh numbers and upgraded outlook; market has not yet fully priced the guidance lift.
Market effects
Boosts outlook for sports‑data and betting technology sector, may lift peers such as DraftKings and Flutter.
Positive for US and European markets where Genius Sports operates, especially NYSE‑listed tech stocks.
Highlights growing demand for real‑time sports data worldwide, supporting broader AI‑driven media trends.
Counterpoint
Guidance raise may be premature if integration costs of Legend acquisition exceed expectations.
Key entities
- CompanyGenius Sports Ltd
Global provider of real‑time sports data, listed on NYSE under ticker GENI.
- Acquired BusinessLegend
Recent acquisition integrated into Genius Sports, contributing to revenue growth.
