Genius Sports Acquires Legend, Publishes Preliminary 2025 Results

Genius Sports, the official data, technology and broadcast partner that powers the global sports, betting and media ecosystem, announced that it has penned a definitive agreement to acquire Legend, a global, digital sports and gaming media network built to monetize attention. In addition to that, the company published its preliminary results for the year.

Genius Sports to Acquire Legend for $1.2B

In its announcement, Genius Sports said that its acquisition of Legend was valued at up to $1.2 billion. This includes $900 million upfront plus an earnout of up to $300 million. The initial payment will be funded via an $850 million Term Loan B issuance.

Genius Sports said that the transaction is expected to immediately contribute to its business, improving group adjusted EBITDA margins and free cash flow conversion. At the same time, Genius believes that it will maintain at least 20% of its group revenue CAGR through 2028.

Genius Sports added that the acquisition would allow it to reach a projected $1.1 billion in group revenue for 2026, as well as group adjusted EBITDA of $320-330 million with approximately а free cash flow conversion of roughly 50%.

Genius Sports described Legend as a professional in monetizing sports audiences through world-class marketing technology. In 2025 alone, Legend generated 320 million annual visits from 118 million unique visitors. The acquisition will therefore empower the Genius Sports ecosystem with a highly engaged sports and gaming audience.

“This deal accelerates our strategic and financial objectives, supercharges fan monetization, and builds a fully integrated sports and gaming media network,” Mark Locke, CEO of Genius Sports, said.

Nick Kisberg, founder of Legend, was similarly pleased with the tie-up, which brings together two world-class teams, opening up new opportunities.

Genius Sports Posts Preliminary 2025 Results, Looks Forward to a Fruitful 2026

In the meantime, Genius Sports published its preliminary financial result for 2025. The company said that it expects its full-year revenue to reach $669 million, which would be equivalent to growth of 31% year-on-year.

In the meantime, the company expects its group adjusted EBITDA to reach $136 million, which would mean growth of 59% year-on-year. The company added that its adjusted EBITDA margin should be 20%.

The company also says that it ended 2025 with $281 million in cash and cash equivalents.

Genius Sports also published its 2026 forecasts, saying that it expects group revenue of approximately $810-820 million, and group adjusted EBITDA of approximately $180-190 million. At their midpoints, these figures would represent revenue and adj. EBITDA growth of 22% and 36%, respectively. The projected adj. EBITDA margin for 2026 is 23%.