Genius Sports announced its financial results for the first quarter ending March 31, 2025.
Total revenue reached $144 million, a 20.3% increase year-over-year.
Looking at various verticals, revenue from betting technology, content, and services grew by 44.2% to $106.5 million, due to contract renewals and price increases from negotiations with existing customers.
Sports technology and services business grew by 11.7% to $11.5 million, thanks to sales of GeniusIQ technology; however, the Median technology, content, and services business saw a decline of 27% to $24.9 million due to "reductions in programmatic and social advertising services."
The net loss was $8.2 million, an improvement of 67.9%.
The adjusted EBITDA saw the largest increase, up 187.5% to $19.8 million.
Mark Locke, co-founder and CEO of Genius Sports, said: "This quarter we continued to advance technology distribution, product innovation, and business development, demonstrating strong execution of our strategic goals.
"Our cost base is largely fixed, and with several enduring growth drivers, we are confident in achieving sustainable growth, profitability, and cash flow in 2025 and beyond."
This first-quarter report was released two months after Genius Sports published its fourth-quarter and fiscal year 2024 report, which reported a 38% increase in revenue.
Recently, Genius Sports established a partnership with Deep Blue Sports + Entertainment, aimed at connecting the brand with female sports fans.
According to the report, Genius Sports expects to generate approximately $620 million in revenue by the end of 2025 and achieve an adjusted EBITDA of $125 million.
This implies annual growth rates of 21% and 46%, respectively.
The board also approved a stock repurchase program valued at up to $100 million.
