Genius Sports (GENI)

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Genius Sports (GENI) - 2022 Q4 - Annual Report
2023-03-29 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR Date of event requiring this shell company report: Commission File Number: 001-40352 Genius Sports Limited (Exact name of Registrant as specified in its charter) (Translation of Registrant's name into English) (Jurisdiction of incorporation or organization) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR ...
Genius Sports (GENI) - 2022 Q4 - Earnings Call Transcript
2023-03-10 18:37
Genius Sports Limited. (NYSE:GENI) Q4 2022 Earnings Conference Call March 10, 2023 8:00 AM ET Company Participants Brandon Bukstel - IR Mark Locke - Co-Founder and CEO Nick Taylor - CFO Jack Davison - Chief Commercial Officer Conference Call Participants Ryan Sigdahl - Craig-Hallum Capital Group Jed Kelly - Oppenheimer Mike Hickey - Benchmark Jason Bazinet - Citi Ben Chaiken - Credit Suisse Bernie McTernan - Needham and Company Robin Farley - UBS Operator Good day, and welcome to the Genius Sports Fourth Qu ...
Genius Sports (GENI) - 2023 Q1 - Quarterly Report
2023-03-09 16:00
Genius Sports Exceeds Group Revenue and Adj. EBITDA Outlook in 2022 and Reaffirms Expectations for over 150% Adj. EBITDA Growth in 2023 LONDON & NEW YORK, March 10, 2023 – Genius Sports Limited (NYSE:GENI) ("Genius Sports" or the "Group"), the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media, today announced financial results for its fiscal fourth quarter and full year ended December 31, 2022. "Our 2022 results demonstrate our commitment t ...
Genius Sports (GENI) - 2022 Q3 - Earnings Call Transcript
2022-11-10 19:11
Genius Sports Limited (NYSE:GENI) Q3 2022 Earnings Conference Call November 10, 2022 8:00 AM ET Company Participants Brandon Bukstel - IR Mark Locke - Co-Founder and CEO Nick Taylor - CFO Jack Davison - Chief Commercial Officer Conference Call Participants Bernie McTernan - Needham Jason Bazinet - Citi Robin Farley - UBS Ryan Sigdahl - Craig-Hallum Capital Group Jed Kelly - Oppenheimer David Bain - B. Riley Securities Mike Hickey - The Benchmark Company Operator Good morning. And welcome to the Genius Sport ...
Genius Sports (GENI) - 2022 Q3 - Quarterly Report
2022-11-09 16:00
Exhibit 99.1 PRELIMINARY NOTE The unaudited Condensed Consolidated Financial Statements for the nine month period ended September 30, 2022 included herein, have been prepared in accordance with accounting principles accepted in the United States of America ("US GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. The condensed consolidated financial statements are presented in United States Dollars ("USD"). All references i ...
Genius Sports (GENI) - 2022 Q2 - Earnings Call Transcript
2022-08-16 16:14
Genius Sports Limited (NYSE:GENI) Q2 2022 Earnings Conference Call August 16, 2022 8:00 AM ET Company Participants Brandon Bukstel - IR Mark Locke - Co-Founder and CEO Nicholas Taylor - CFO Jack Davison - Chief Commercial Officer Conference Call Participants Bernie McTernan - Needham Ryan Sigdahl - Craig-Hallum Capital Group David Bain - B. Riley Jed Kelly - Oppenheimer Ben Chaiken - Credit Suisse Robin Farley - UBS Jason Bazinet - Citi Mike Hickey - The Benchmark Company Operator Welcome to the Genius Spor ...
Genius Sports (GENI) - 2022 Q2 - Quarterly Report
2022-08-15 16:00
Exhibit 99.1 PRELIMINARY NOTE The unaudited Condensed Consolidated Financial Statements for the six month period ended June 30, 2022 included herein, have been prepared in accordance with accounting principles accepted in the United States of America ("US GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. The condensed consolidated financial statements are presented in United States Dollars ("USD"). All references in this ...
Genius Sports (GENI) - 2022 Q1 - Earnings Call Presentation
2022-05-12 16:24
| --- | --- | --- | |-------------------------------------------|-------|-------| | | | | | | | | | First Quarter 2022 Earnings May 12, 2022 | | | | | | | 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 than statements of historical facts are forward-looking s ...
Genius Sports (GENI) - 2022 Q1 - Earnings Call Transcript
2022-05-12 15:48
Genius Sports Limited (NYSE:GENI) Q1 2022 Earnings Conference Call May 12, 2022 8:00 AM ET Company Participants Mark Locke – Co-Founder and Chief Executive Officer Nicholas Taylor – Chief Financial Officer Jack Davison – Chief Commercial Officer Josh Linforth – Commercial Director, Media & Engagement Conference Call Participants Bernie McTernan – Needham Ryan Sigdahl – Craig–Hallum Capital Group Jed Kelly – Oppenheimer & Co. Robin Farley – UBS Mike Hickey – Benchmark Operator Ladies and gentlemen, thank you ...
Genius Sports (GENI) - 2021 Q4 - Annual Report
2022-03-18 20:16
Financial Performance - Revenue for the year ended December 31, 2021, was $262.7 million, an increase of $113.0 million or 75% compared to $149.7 million in 2020[372]. - Cost of revenue increased to $476.2 million for the year ended December 31, 2021, up $362.1 million or 317% from $114.1 million in 2020[376]. - Gross loss was $(213.4) million for the year ended December 31, 2021, compared to a gross profit of $35.7 million in 2020, representing a variance of $(249.1) million or (698%) [371]. - Net loss for the year ended December 31, 2021, was $592.8 million, compared to a net loss of $30.3 million in 2020, reflecting an increase of $562.5 million or 1,853%[389]. - Revenue for the year ended December 31, 2020, was $149.7 million, an increase of $35.1 million or 31% compared to $114.6 million in 2019[392]. - Net loss for the year ended December 31, 2020, was $30.3 million, a reduction of $9.9 million or 25% from a net loss of $40.2 million in 2019[407]. Revenue Breakdown - Betting Technology, Content and Services revenue increased by $66.6 million or 60% to $177.2 million for the year ended December 31, 2021[373]. - Media Technology, Content and Services revenue rose by $25.3 million or 110% to $48.3 million for the year ended December 31, 2021[374]. - Sports Technology and Services revenue increased by $21.2 million or 132% to $37.2 million for the year ended December 31, 2021[375]. - Betting Technology, Content and Services revenue increased by $22.2 million or 25% to $110.6 million, driven by price increases, new customer acquisitions, and increased utilization of event content[393]. - Media Technology, Content and Services revenue rose by $11.2 million or 94% to $23.1 million, primarily due to new customer acquisitions in the Americas and Europe[394]. Expenses - General and administrative expenses surged to $293.2 million for the year ended December 31, 2021, an increase of $261.5 million or 827% from $31.6 million in 2020[382]. - Data and streaming rights costs were $97.9 million for the year ended December 31, 2021, an increase of $55.9 million or 133% from $41.9 million in 2020[377]. - Cost of revenue was $114.1 million for 2020, up $24.8 million or 28% from $89.3 million in 2019, mainly due to increased data rights costs[397]. - General and administrative expenses increased by $2.1 million or 7% to $31.6 million, mainly due to costs related to a new ERP system[402]. Cash Flow - Net cash provided by operating activities was $17.1 million in 2020, compared to $2.5 million in 2019, reflecting a positive change in working capital[415]. - Net cash used in investing activities was $22.7 million in 2020, primarily driven by capital expenditures and business acquisitions[418]. - Net cash provided by financing activities was $10.1 million in 2020, mainly from proceeds of a Related Party Loan[420]. Accounting Policies - Genius' financial statements are prepared in accordance with U.S. GAAP, requiring management to make significant judgments and estimates that could materially impact reported revenue and expenses[422]. - Genius recognizes revenue based on whether it acts as a principal or agent, generally controlling products and services before transfer to customers[423]. - Under ASC 606, Genius uses various techniques to estimate total contract revenue and costs, with potential revisions to estimates impacting revenue recognition[424]. - The standalone selling price for goods or services is determined based on observable prices and other factors, including costs and pricing objectives[425]. - Genius capitalizes internal-use software development costs when certain criteria are met, amortizing these costs over an estimated useful life of three years[427]. - Acquisitions are accounted for under ASC 805, with fair value allocated to tangible and intangible assets, and any excess recorded as goodwill[428]. - Stock-based compensation is measured based on grant date fair value, with costs recognized over the requisite service period[430]. Compensation and Governance - Total cash compensation for Genius's executive officers for the year ended December 31, 2021, was $3,866,123, which includes base compensation of $2,225,160 and bonuses of $1,616,752[458]. - Genius's directors received a total compensation of $910,000 for the year ended December 31, 2021, comprising $130,000 in cash-based compensation and $780,000 in share-based compensation[460]. - Genius's Chief Financial Officer, Nicholas Taylor, has been with the company since December 2020 and previously served as CFO of Wagamama from June 2017 to September 2019[456]. - Mark Locke, the CEO, holds 21,560,474 total ordinary shares, representing 10.6% of total outstanding shares[463]. - Genius maintains defined contribution pension arrangements, with no amounts set aside for pension or retirement benefits for executive officers[459]. - Genius's compensation committee is responsible for evaluating executive compensation and has the authority to retain independent consultants for this purpose[464]. - The compensation committee is responsible for reviewing and approving the corporate goals and objectives relevant to the CEO's compensation and evaluating performance[485]. - The compensation committee may retain or obtain advice from external advisers while considering their independence[480]. - The company has established a nominating and corporate governance committee responsible for overseeing the selection of board nominees and executive appointments[477]. Employee Relations and Structure - The company has approximately 2,300 staff across 11 main locations and 6 continents, including over 1,800 employees and more than 500 contingent workers[484]. - The company operates a network of over 2,500 data statisticians globally, managing an additional 4,500 statisticians employed by FIBA[484]. - The company emphasizes the development of a pipeline of 'home-grown' management talent, supplemented by external hires as necessary[485]. - The company aims to attract, retain, and develop staff with the skills necessary to implement its growth strategy[485]. - The company has not experienced any work stoppages and considers its relations with employees to be good[487]. Compliance and Ethics - The company has established a Code of Business Conduct and Ethics, which is regularly reviewed and communicated to staff[482][486]. - The audit committee is tasked with monitoring the independence of the company's independent registered public accounting firm and ensuring compliance with applicable laws[476]. - Genius recognizes deferred tax assets based on the likelihood of realization, considering various positive and negative evidence[434]. - Genius's primary market risk exposure is to foreign currency exchange, which is detailed in the financial statements[438]. - The company has elected to take advantage of the extended transition period for emerging growth companies under the JOBS Act, which may affect comparability with other public companies[437].