Genius Sports Q1: Company Enhances Revenue Projections Due to Legend Acquisition

Genius Sports has published its Q1 report, highlighting double-digit growth across both of its divisions. Despite revenue and EBITDA improvements, however, the company’s net loss broadened due to its recent acquisition of Legend.

Genius Sports Recorded Double-Digit Revenue & EBITDA Growth

Genius Sports reported that in the three-month period ended March 31, 2026, its group revenue reached $188 million. This is equivalent to an increase of 30.5%, or $44 million.

The Betting Technology, Content & Services division’s revenue was $146.2 million, up 33$ year-on-year. The company attributed the favorable results to growth in business with existing customers, contract renewals, and the broader expansion of Genius Sports’ business.

In the meantime, the Media Technology, Content & Services segment reported revenue of $41.7 million, marking an increase of 22% year-on-year. Genius explained that the division’s performance was driven by an increase in sales of products based on GeniusIQ technology, as well as by the launch of the Moment Engine solution.

As mentioned, Genius Sports’ group net loss increased significantly to $55.2 million, up 576.6% year-on-year. The company emphasized that the higher loss was mostly due to its recent acquisition of Legend, although the metric was also affected by foreign currency movements.

In addition to that, Genius Sports reported group adjusted EBITDA of $24 million for Q1, up 21% year-on-year. The group adjusted EBITDA margin for the period was 12.8%.

The Company Highlighted Some of Its Achievements

Genius Sports highlighted some of its Q1 business achievements, which included a record-breaking March Madness performance in the company’s first year as the exclusive official data provider for the NCAA.

Additionally, the company integrated the Moment Engine solution with its partners and teamed up with WPP Media to “pioneer holistic sports media advertising intelligence and launch WPP Brand Sports.”

Genius Sports also launched Momentum Score, a new intelligence tool designed to identify the right sports, audiences, and moments to invest in. The company also expanded its BetVision solution to cover Tennis and deliver enhanced betting experiences. Genius Sports also launched an augmented advertising platform with NBC Sports Regional Networks.

In terms of partnerships, Genius Sports unveiled a new deal with Magnite and penned a wide-ranging integrity, tech, and AI partnership with the Pac-12.

After the conclusion of Q1, Genius Sports signed an AI deal with Liga MX and confirmed the closure of its previously announced acquisition of Legend.

Genius to Improve Its Forecasts Due to the Legend Acquisition

Speaking of Legend, Genius Sports said that it expects the arrangement to significantly bolster its financial metrics. The company therefore updated its financial outlook, saying that it now expects to generate 2026 group revenue of between $990 million and $1.01 billion, as well as adjusted EBITDA of $270-280 million. This implies an adjusted EBITDA margin of roughly 28% at the midpoint, up from 23% in the previous outlook.

Genius Sports added that it expects its Q2 revenue and adjusted EBITDA to reach roughly $185 million and $45 million, respectively.

CEO Locke Praised the Progress

Mark Locke, Genius Sports’ founder and chief executive officer, commented on the financials, saying that Q1 underscored the durability of his company’s business model. He praised the double-digit growth across revenue and EBITDA and was pleased with the company’s expanding customer relationships and delivery of new products.

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 monetization across our ecosystem, and is expected to drive meaningful margin expansion and cash flow over time.

Mark Locke, founder & CEO, Genius Sports

A month ago, Genius Sports announced the appointment of Tony Marlow as its new chief marketing officer.