Genius Sports Adjusts FY2026 Guidance After Strong Q1 Revenue Growth

Genius Sports raised its full-year 2026 guidance after reporting a 30.5% increase in revenue during Q1. For the three months before 31 March, revenue reached $188 million compared to $144 million from last year. Adjusted EBITDA also increased 21.3%  year-on-year to $41.7 million.

The company said growth was driven by expansion across its betting technology and media operations. It also benefited from increasing demand for fan engagement and sports advertising products on live events.

Following the quarter, Genius Sports also completed its acquisition of Legend in a deal valued at approximately $1.2 billion. According to the company, the acquisition positions Genius Sports as the only business operating across official sports data, media, and advertising through two integrated platforms.

Legend acquisition strengthens media and advertising strategy

The integration of Legend into Genius Sports is already underway and will contribute significantly to growth throughout 2026. 

“Our first quarter results underscore the durability and visibility of our business model, with strong revenue growth across both Betting and Media driven by long-term contracts, expanding customer relationships, and delivery of new products across the global sports and betting ecosystem,” Locke stated.

He also highlighted the strategic importance of the Legend acquisition.

“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. The combination strengthens our long-term growth profile, enhances monetisation across our ecosystem, and is expected to drive meaningful margin expansion and cash flow over time.”

Betting technology remains the company’s largest segment

Betting technology, content, and services once again generated the largest share of revenue during Q1. The segment produced $46.2 million in revenue, representing a 33.3% increase year-on-year.

Genius Sports linked this growth to stronger revenue from existing clients following contract renewals, renegotiations, and the expansion of value-added services. The company also reported higher revenue within its media technology, content, and services division, increasing 21.7% to $41.7 million during Q1. 

According to Genius Sports, the growth was driven partly by higher sales tied to products built on its GeniusIQ platform and the launch of Moment Engine, an AI-powered advertising and fan engagement platform built around live sports data.

Higher costs increase losses despite revenue growth

Despite strong revenue growth, Genius Sports reported a larger net loss due to rising operating expenses and acquisition-related costs. Cost of sales increased 5.3%, although strong revenue growth still pushed gross profit up 23% year-on-year.

Operating expenses rose across multiple areas, increasing the company’s operating loss from $20.4 million to $43.2 million. Additional expenses included a $9.7 million foreign currency loss, leaving Genius Sports with a pre-tax loss of $55.6 million compared to $7.8 million last year.

The company also noted that Q1 2025 had benefited from a foreign currency gain exceeding $12 million. After tax adjustments, Genius Sports finished the quarter with a net loss of $55.5 million compared to an $8.2 million loss during the same period in 2025. 

Genius Sports raises full-year guidance after Q1 performance

Following the Q1 results and the completion of the Legend acquisition, Genius Sports raised both its revenue and adjusted EBITDA guidance for the full year. The company now expects 2026 revenue to range between $990 million and $1.01 billion, significantly higher than its previous forecast of $810 million to $820 million before the acquisition.

Genius Sports also projects adjusted EBITDA between $270 million and $280 million compared to its earlier forecast of $180 million to $190 million. The company issued guidance for Q2, forecasting revenue of approximately $185 million alongside adjusted EBITDA of around $45 million. These projections already account for the integration of Legend, effective from 1 May.

Genius Sports has reported a significant boost in revenue from the first quarter of 2026. This growth was driven primarily by its betting technology and media segment. With the acquisition of Legend finalised, the company is set to record higher guidance figures than previously projected.