Genius Sports Grows in Q3, Eyes U.S. iGaming Expansion

Genius Sports posted its strongest quarterly growth since early 2022, with third-quarter revenue rising 38.2% year-over-year to $166.3 million. The London-based sports data and technology firm raised its full-year outlook for both revenue and adjusted EBITDA, even as foreign currency losses and higher operating costs pushed it into the red.

The company reported a net loss of $28.8 million for the quarter ending September 30, reversing a $12.5 million profit from the same period last year. Genius attributed much of that swing to a $7.5 million foreign exchange loss and a 50% increase in general and administrative spending. Adjusted EBITDA, however, rose 32% to $34 million, signaling operational resilience amid expansion.

• Q3 revenue surged 38% year-on-year to $166.3 million, driven by growth in U.S. iGaming, betting technology, and media services, despite the company posting a net loss of $28.8 million.

• Genius Sports raised its full-year revenue guidance to $655 million and forecast adjusted EBITDA of $136 million, signaling confidence in sustained demand from sportsbooks and media partners.

• The company is exploring opportunities in U.S. prediction markets, with CEO Mark Locke saying Genius will move “deliberately” as regulation and commercial conditions evolve.

Betting and Media Fuel Revenue Surge

Genius Sports’ core betting technology, content, and services business remained its largest revenue source at $110 million, up 38%. Growth came from price increases on renewals, expanded services, and new customer acquisitions. Its media technology division was the standout performer, with revenue nearly doubling to $41.8 million, driven by higher programmatic advertising sales. Sports technology and services contributed $14.5 million, a 16% increase, helped by stronger sales of GeniusIQ-powered products.

CEO and co-founder Mark Locke described the results as proof of the company’s “ability to combine sports data with audience intelligence to deliver personalized fan experiences at scale.” Genius, he said, is extending its position in online sports betting and advertising “through richer content, rapid product adoption, and strong commercial momentum.”

The U.S. remains a key growth engine for Genius, which supplies official data and streaming services to several American sportsbooks, including ESPN Bet and Hard Rock Bet. With iGaming and sports betting expanding across the U.S., Genius has positioned itself as a critical infrastructure provider — offering the real-time data, odds modeling, and fan engagement tools that power online sportsbooks.

The U.S. iGaming market, projected to surpass $25 billion by 2030, continues to attract global data firms like Genius, Sportradar, and Stats Perform. Genius’ BetVision product, recently launched for global basketball leagues, could strengthen its foothold with American operators seeking interactive live-streaming experiences. Still, profitability remains elusive for many companies tied to the U.S. sports betting ecosystem. Genius’ Q3 results highlight this challenge — strong top-line growth but limited net gains as companies absorb high costs related to data rights, technology, and market expansion.

Prediction Markets Under Watch

Locke also acknowledged growing interest in prediction markets, an emerging segment that blends social wagering and data-driven insights. While Genius has yet to enter the space, Locke said the company is closely monitoring developments in the U.S., where prediction platforms like Kalshi and Polymarket are testing regulatory limits.

“As they evolve and mature, prediction markets may provide a meaningful new opportunity for us in expanding the addressable market,” Locke said. He emphasized that Genius would only participate if the sector meets “robust regulatory and commercial thresholds.”

We’re extending our leadership in online sports betting and media through richer content, rapid product adoption, and strong commercial momentum.

Outlook

Despite the quarterly loss, Genius raised its full-year revenue forecast to $655 million, up from previous guidance of $645 million. Adjusted EBITDA is now projected at $136 million, a 59% improvement over last year, with the company expecting to generate positive annual cash flow for 2025.

Locke framed the results as evidence of sustained momentum in both betting and media. “We are continuously proving the value of our platform,” he said. “We remain optimistic about the long-term potential of this business.” As the U.S. iGaming and sports betting markets mature, Genius Sports’ growth story reflects the industry’s broader trajectory — rapid expansion, heavy competition, and ongoing tension between scale and profitability.