Genius Sports Limited Shares Up 3% Following Q1 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/GENI'>Genius Sports Limited (NYSE:GENI)</a> shares rose more than 3% on Wednesday following the company’s reported Q2 results, with EPS of ($0.02) coming in better than the Street estimate of ($0.09). Revenue was $71.1 million, compared to the Street estimate of $64.63 million.</p>
<p>The company reiterated its 2022 revenue estimate of approximately $340 million and adjusted EBITDA estimate of approximately $15 million, despite risks related to foreign exchange rates. The company expects 2023 revenue in the range of $430-$440 million and adjusted EBITDA in the range of $40-$50 million.</p>
<p>Despite FX, the analysts at Oppenheimer see a favorable back-half setup on favorable NFL comps, more live betting adoption, and better cost leverage. Additionally, the analysts see a lower promotional environment, benefiting the company at the margin and are incrementally encouraged by non-OSB customer wins in Media. </p>

NYSE:GENI