Genius Sports Q3 Loss Misses Estimates; Boosts FY23 Revenue Outlook

(RTTNews) - Genius Sports Ltd. (GENI) reported Monday that net loss for the third quarter was $11.62 million or $0.06 per share, wider than $8.97 million or $0.04 per share in the prior-year quarter.

Group revenue for the quarter increased 29.3 percent to $101.73 million from $78.65 million in the same quarter last year.

On average, 10 analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share on revenues of $100.18 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company expects group revenue of $126 million for the fourth quarter and $412 million for the full-year 2023, up from its prior forecast of $410 million. The Street is looking for revenues of $126.48 million for the quarter and $410.47 million for the year.

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