Genius Sports Limited · NYSE:GENI
Genius Sports — Q1 2023 Earnings Presentation
16 slides from Genius Sports's earnings presentation, May 9, 2023
Slide 1: First Quarter 2023 Earnings
First Quarter 2023 Earnings May 9, 2023
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. All statements other
Slide 3: Contents
Contents 01 Business Updates 02 Financial Results & Outlook 03 Appendix
Slide 4: Business Updates
Business Updates
Slide 5: Continued Execution in the First Quarter of 2023
Continued Execution in the First Quarter of 2023 • Q1 Group Revenue of $97M vs. guidance of $92M, representing 19% year-on-year constant currency growth Q1 2023 Results • Q1 Group Adj. EBITDA of $8M vs. guidance of $3M, a near 100% flow-through of revenue outperformance to EBITDA Ahead of Guidance •
Slide 6: Multiple Growth Levers Driving EBITDA Margin Expansion
Multiple Growth Levers Driving EBITDA Margin Expansion Each growth driver is working in favor of Genius to begin the year 1 Handle Genius received immediate revenue uplift from new state launches like Ohio and Massachusetts, with no direct increase in operating expenses 2 In-Play NFL In-Play Handle
Slide 7: Differentiated Technology Solidifies League Relationships
Differentiated Technology Solidifies League Relationships Super Bowl on TSN+ |7
Slide 8: Financial Results & Outlook
Financial Results & Outlook
Slide 9: Q1 2023 Results Exceeded Guidance
Q1 2023 Results Exceeded Guidance Incremental revenue contributed to Group Adj. EBITDA at nearly 100% margin Q1 Guidance ($M) Actual ($M) Group Revenue ($M) Betting Technology, +$11.3 $61 $65 Content & Services $97.2 $85.9 Media Technology, $20 $22 Content & Services Q1 2022 Q1 2023 Sports Technolog
Slide 10: Raising Full-Year 2023 Guidance
Raising Full-Year 2023 Guidance Group Revenue Guidance ($M) Group Adj. EBITDA Guidance ($M) 12.3% margin 10.5% margin $400 $391 $49 4.7% $41 margin $341 $16 2022A 2023E (prior) 2023E (new) 2022A 2023E (prior) 2023E (new) Maintaining expectation to generate positive free-cash-flow in 2H 2023 | 10
Slide 11: Quarterly Summary of Full-Year Guidance Increase
Quarterly Summary of Full-Year Guidance Increase ($m) Q1 2023A Q2 2023E Q3 2023E Q4 2023E FY 2023E Betting Technology, $65 $53 $61 $77 $256 Content and Services Media Technology, $22 $16 $26 $32 $96 Content and Services Sports Technology and $11 $11 $12 $15 $49 Services Group Revenue $97 $80 $99 $12
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Slide 13: Appendix
Appendix
Slide 14: Genius Sports Q1 P&L & Group Adjusted EBITDA Reconciliation
Genius Sports Q1 P&L & Group Adjusted EBITDA Reconciliation Condensed Consolidated Statements of Operations Reconciliation of U.S. GAAP Net loss to Group (Unaudited, amounts in thousands, Adjusted EBITDA except share and per share data) (Unaudited, amounts in thousands) Three Months Ended March 31,
Slide 15: Reconciliation of GAAP Operating Expenses to non-GAAP Operating Expenses
Reconciliation of GAAP Operating Expenses to non-GAAP Operating Expenses Three Months Ended Year Ended March 31, December 31, September 30, June 30, March 31, December 31, September 30, June 30, December 31, December 31, 2023 2022 2022 2022 2022 2021 2021 2021 2022 2021 GAAP Operating Expenses Cost
Slide 16: GENI Share Count Build
GENI Share Count Build As of Total Capitalization (shares in millions) March 31, 2023 Ordinary shares issued and outstanding 208.0 Additional Securities Management restricted shares and options 3.6 NFL Enterprises LLC vested Warrants1 15.5 NFL Enterprises LLC unvested Warrants1 3.0 Unvested equity-s