Genius Sports Limited · NYSE:GENI
Genius Sports — Q4 2022 Earnings Presentation
20 slides from Genius Sports's earnings presentation, Mar 10, 2023
Slide 1: Fourth Quarter 2022 Earnings
Fourth Quarter 2022 Earnings March 10, 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: 2022 Characterized by Consistent Execution
2022 Characterized by Consistent Execution • 2022 Group Revenues increased 41% constant currency to $341M, exceeding $340M guidance Exceeding • 2022 Group Adj. EBITDA of $16M, ahead of $15M guidance Financial Forecasts • Q4 Group Revenue of $105M representing 36% year-on-year constant currency growt
Slide 6: Winning New Business & Growing Alongside Existing Customers
Winning New Business & Growing Alongside Existing Customers New Sports Betting Customers 2019 2020 2021 2022 in 2022 Dollar Based Net Revenue Retention 100% 137% 154% 138% (Top 25 Customers) Dollar Based Net Revenue Retention 100% 135% 147% 129% 27 (All Customers) 19 13 12 Customer Retention 95% 95%
Slide 7: Benefitting from Multiple Growth Drivers in the U.S.
Benefitting from Multiple Growth Drivers in the U.S. Growth in U.S. Growth of NFL Improving Win Online Sports In-Play Handle Margins Driving NFL Betting Handle and GGR GGR Growth Increased ~40% YoY Increased ~50% and ~60% Pre-Match GGR in Q4 2022 YoY, respectfully, increased ~70% YoY in Q4 2022 in Q
Slide 8: Delivering the Next Generation of Sports Broadcast
Delivering the Next Generation of Sports Broadcast Super Bowl on TSN+ NFL Christmas Day Game on Nickelodeon Portland Trail Blazers Broadcast NBA on ESPN 3-Point Shot Tracker |8
Slide 9: Financial Results & Outlook
Financial Results & Outlook
Slide 10: 2022 Results Ahead of Guidance, Despite FX Headwinds
2022 Results Ahead of Guidance, Despite FX Headwinds 2022 Actual Results vs. Guidance ($m) Q4 2022 Results by Product Group ($m) $361 Q4 Results At Guidance $19 Q4 Guidance Actual Exchange $340 $341 Rate1 Betting $71 $65 $72 $16 $15 Media $26 $26 $27 Sports $13 $14 $15 Group Revenue $110 $105 $114 G
Slide 11: Consistent Execution Across Each Product in 2022
Consistent Execution Across Each Product in 2022 Genius Sports has delivered on expectations for each product group in each quarter in 2022 ($m) Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 Betting Technology, Content and Services $50 P $45 P $49 P* $65 P* $209 P* Media Technology, Content and Services $
Slide 12: Expecting to Nearly Triple Group Adj. EBITDA in 2023
Expecting to Nearly Triple Group Adj. EBITDA in 2023 Incremental revenue in 2023 contributes to Group Adj. EBITDA at a ~50% margin ($m) Q1 2023E Q2 2023E Q3 2023E Q4 2023E FY 2023E Betting Technology, Content and Services $61 $51 $61 $77 $250 Media Technology, Content and Services $20 $16 $24 $32 $9
Slide 13: Growing Revenue in 2023 with High Operating Leverage
Growing Revenue in 2023 with High Operating Leverage Little change in operating expenses to support a larger pool of revenue and adj. EBITDA growth 2023E Costs ($m) Target % of Revenue at Maturity 2023E Revenue $391 Rights Direct Media Rights costs 25-30% Cost of Revenues $148 $63 $43 All other cost
Slide 14: Closing Remarks
Contents Closing Remarks | 14
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Slide 16: Appendix
Appendix
Slide 17: Genius Sports Q4 P&L & Group Adjusted EBITDA Reconciliation
Genius Sports Q4 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 December 3
Slide 18: Genius Sports FY P&L & Group Adjusted EBITDA Reconciliation
Genius Sports FY 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) Year Ended December 31, Year
Slide 19: 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 December 31, September 30, June 30, March 31, December 31, September 30, June 30, March 31, December 31, December 31, December 31, 2022 2022 2022 2022 2021 2021 2021 2021 2022 2021 2020 GAAP Operat
Slide 20: GENI Share Count Build
GENI Share Count Build As of Impact from Public Total Capitalization (shares in millions) December 31, 2022 Warrant Transaction1 Ordinary shares issued and outstanding 201.9 +3.6 Additional Securities Management restricted shares and options 3.8 - Public Warrants1 7.7 (7.7) NFL Enterprises LLC veste