Genius Sports (GENI) Company Report

Analyst Coverage

Research analysts who have asked questions during Genius Sports earnings calls.

Bernard McTernan

Needham & Company

6 questions for GENI

Also covers: APP, BBBY, BYON +17 more

Jed Kelly

Oppenheimer & Co. Inc.

6 questions for GENI

Also covers: ABNB, BKNG, CARG +12 more

Jordan Bender

JMP Securities

6 questions for GENI

Also covers: AMC, BALY, BRAG +14 more

Ryan Sigdahl

Craig-Hallum Capital Group

6 questions for GENI

Also covers: ABG, CDRO, CNTY +21 more

Benjamin Miller

Goldman Sachs

4 questions for GENI

Also covers: DKNG, SRAD, TRIP +2 more

Clark Lampen

BTIG, LLC

4 questions for GENI

Also covers: APP, DKNG, FLUT +7 more

Josh Nichols

B. Riley Financial

4 questions for GENI

Also covers: CTLP, DDI, DGII +11 more

Barry Jonas

Truist Securities

3 questions for GENI

Also covers: BALY, BRSL, BYD +17 more

Chad Beynon

Macquarie

3 questions for GENI

Also covers: ACEL, AGS, AMC +31 more

Eric Martinuzzi

Lake Street Capital Markets

3 questions for GENI

Also covers: APEI, ASPU, ASUR +24 more

Mike Hickey

The Benchmark Company LLC

3 questions for GENI

Also covers: CNK, EA, GAMB +9 more

Steve Pizzella

Deutsche Bank

3 questions for GENI

Also covers: ACEL, BYD, CZR +7 more

Eric Handler

Roth Capital Partners, LLC

2 questions for GENI

Also covers: BOWL, CNK, DDI +10 more

Jason Bazinet

Citigroup

2 questions for GENI

Also covers: APP, CTV, DIS +20 more

Michael Hickey

The Benchmark Company, LLC

2 questions for GENI

Also covers: CNK, EA, GAMB +8 more

Sam Rooney

Macquarie Group

2 questions for GENI

Greg Gibas

Northland Securities, Inc.

1 question for GENI

Also covers: ACEL, AIOT, AMRK +8 more

Greg Gibbis

Northland Securities

1 question for GENI

Also covers: GOLD

Thomas Shinske

Cantor Fitzgerald

1 question for GENI

Also covers: APLD, BITF, CSGS +2 more

Latest news

Recent press releases and 8-K filings for GENI.

Genius Sports Expands NBA Augmented Advertising Platform

GENI

Product Launch

New Projects/Investments

Genius Sports (GENI) has partnered with NBC Sports Regional Networks (NBCSRN) to significantly expand its exclusive, data-powered augmented advertising footprint across live, local NBA broadcasts.
This agreement grows Genius Sports' augmented advertising network to more than 600 NBA games per season across 15 teams, marking a major step in transforming live sports into premium, AI-driven media inventory.
Genius Sports will exclusively commercialize premium, in-game advertising inventory across linear, digital, and streaming environments for these broadcasts.
The platform utilizes GeniusIQ, Genius Sports' proprietary AI and sports data platform, to deliver real-time, sponsorable insights and create a differentiated monetization layer within live NBA broadcasts.

2 days ago

Press Release

Genius Sports CEO Addresses Legend Acquisition

GENI

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Genius Sports' CEO Mark Locke addressed shareholders regarding the acquisition of Legend, acknowledging a divided market reaction but asserting its strategic importance as a technology company rather than a simple affiliate business.
Legend, acquired for just over six times pre-earnout EBITDA, brought 320 million visits from 118 million unique users in 2025 across its sports and iGaming brands, built on 20 years and $300 million investment in technology and data modeling.
The acquisition is intended to extend Genius Sports' infrastructure into fan participation and iGaming, combining official data with Legend's audience and behavioral technology to create a new asset class in sport.
Genius Sports has identified four immediate revenue synergies from the Legend acquisition, including customer cross-sell, monetization of a combined audience, a platform for leagues and teams, and distribution of Genius data through Legend.

Feb 18, 2026, 2:00 PM

Press Release

Genius Sports Announces Acquisition of Legend

GENI

M&A

Guidance Update

Revenue Acceleration/Inflection

Genius Sports (GENI) announced on February 5, 2026, a definitive agreement to acquire Legend, a global digital sports and gaming media network, in a transformational transaction.
The acquisition involves an upfront consideration of $900 million ($800 million in cash and $100 million in stock), with an additional earn-out of up to $300 million tied to profitability and cash flow metrics.
Post-acquisition, Genius Sports expects to deliver approximately $1.1 billion of revenue and $320 million-$330 million of Adjusted EBITDA on an annualized basis for 2026, with approximately 50% free cash flow conversion.
The company now targets $1.6 billion of revenue and an approximate 35% Adjusted EBITDA margin by 2028, with over 60% Free Cash Flow conversion, exceeding previous targets.
The transaction will be financed by $850 million of secured debt, resulting in pro forma leverage below 3x at closing, with a plan for rapid de-levering by 2028.

Feb 5, 2026, 1:00 PM

Transcript

Genius Sports announces acquisition of Legend

GENI

M&A

Guidance Update

Revenue Acceleration/Inflection

Genius Sports has entered into a definitive agreement to acquire Legend, a global digital sports and gaming media network.
The acquisition involves an upfront consideration of $900 million ($800 million in cash and $100 million in stock), with an additional earnout of up to $300 million split evenly across year one and year two post-close.
The transaction is expected to significantly accelerate Genius Sports' financial targets, with projected 2026 annualized revenue of approximately $1.1 billion and adjusted EBITDA of $320-$330 million.
By 2028, the combined business is now expected to achieve $1.6 billion in revenue with an approximate 35% adjusted EBITDA margin and over 60% free cash flow conversion, exceeding previous targets.
Strategically, Legend brings an AI-powered platform, industry-leading media brands like Covers.com and Casino.org, and generated over 320 million annual visits from 118 million unique visitors in 2025, strengthening Genius Sports' media segment and creating a powerful end-to-end performance-driven sports and gaming media network.

Feb 5, 2026, 1:00 PM

Transcript

Genius Sports Announces Acquisition of Legend

GENI

M&A

Revenue Acceleration/Inflection

New Projects/Investments

Genius Sports (GENI) announced in February 2026 its plan to acquire Legend, a global digital sports and gaming media network, to accelerate its media strategy and strengthen its business.
The acquisition involves an upfront consideration of $900 million, comprising $800 million in cash and $100 million in stock, with a potential earnout of $300 million, bringing the maximum potential consideration to $1,200 million.
This transaction is expected to accelerate Genius Sports' strategic and financial execution, with projected annualized Group Revenue of $1,100 million for 2026E and $1,600 million for 2028E.
Annualized Group Adjusted EBITDA is projected to be $320-330 million for 2026E and $550 million for 2028E, with Adj. EBITDA Margin around 30% for 2026E and around 35% for 2028E.

Feb 5, 2026, 1:00 PM

Presentation

Genius Sports Announces Acquisition of Legend

GENI

M&A

Guidance Update

Revenue Acceleration/Inflection

Genius Sports has entered into a definitive agreement to acquire Legend, a global digital sports and gaming media network.
The acquisition involves an upfront consideration of $900 million, comprising $800 million in cash and $100 million in stock, with an additional earnout of up to $300 million split evenly across year one and year two post-close. The transaction is supported by $850 million of secured debt.
On an annualized basis for 2026, the combined company expects to deliver approximately $1.1 billion of revenue and $320-$330 million of adjusted EBITDA. For 2028, the company anticipates $1.6 billion of revenue at an approximate 35% adjusted EBITDA margin and over 60% free cash flow conversion.
Strategically, the acquisition is expected to accelerate revenue and margin growth, significantly expand Genius Sports' participation in the iGaming market, particularly in North America, and enhance its media monetization capabilities through Legend's AI-powered platform and owned media brands.

Feb 5, 2026, 1:00 PM

Transcript

Genius Sports Announces Acquisition of Legend

GENI

M&A

Guidance Update

New Projects/Investments

Genius Sports has entered into a definitive agreement to acquire Legend, a global digital sports and gaming media network, for an upfront consideration of $900 million ($800 million cash and $100 million stock), plus an earnout of up to $300 million.
This acquisition is expected to significantly accelerate Genius Sports' financial targets, with the scale and profitability previously expected by 2028 now largely anticipated in 2026.
For 2026, on an annualized basis, the combined company is expected to deliver approximately $1.1 billion of revenue and $320-$330 million of adjusted EBITDA, with approximately 50% free cash flow conversion.
By 2028, the revised targets for the combined business include $1.6 billion of revenue, an approximate 35% adjusted EBITDA margin, and over 60% free cash flow conversion.
Strategically, Legend's AI-powered platform and media brands like covers.com and casino.org will expand Genius Sports' reach into the growing iGaming market and enhance its media segment by providing more data, audience, and monetization pathways.

Feb 5, 2026, 1:00 PM

Transcript

Genius Sports Announces Acquisition of Legend

GENI

M&A

Guidance Update

Revenue Acceleration/Inflection

Genius Sports has entered into a definitive agreement to acquire Legend, a global digital sports and gaming media network, for an upfront consideration of $900 million, comprising $800 million in cash and $100 million in stock, with an additional earn-out of up to $300 million.
This acquisition is expected to accelerate Genius Sports' financial targets, with the combined entity projected to achieve approximately $1.1 billion in revenue and $320 million-$330 million in Adjusted EBITDA for 2026 on an annualized basis.
By 2028, the combined company aims for $1.6 billion in revenue, an approximate 35% Adjusted EBITDA margin, and over 60% Free Cash Flow conversion.
The transaction follows Genius Sports' strong 2025 performance, which saw estimated group revenue of $669 million and $136 million in adjusted EBITDA, with the media segment growing 37% year-on-year.
Strategically, the acquisition strengthens Genius Sports' media business, expands its reach into the iGaming market, particularly in North America (Legend's largest market), and leverages Legend's high double-digit growth and 75% recurring revenue.

Feb 5, 2026, 1:00 PM

Transcript

Genius Sports Announces Acquisition of Legend

GENI

M&A

Guidance Update

New Projects/Investments

Genius Sports has entered into a definitive agreement to acquire Legend, a global digital sports and gaming media network.
The acquisition is valued at an upfront consideration of $900 million ($800 million cash, $100 million stock), with an additional earn-out of up to $300 million tied to profitability and cash flow metrics. The transaction will be financed by $850 million of secured debt, resulting in pro forma leverage below 3x.
This acquisition is expected to accelerate Genius Sports' financial targets, with projected 2026 annualized pro forma revenue of approximately $1.1 billion and adjusted EBITDA of $320 million-$330 million.
By 2028, the combined business is anticipated to achieve $1.6 billion in revenue, an approximate 35% adjusted EBITDA margin, and over 60% free cash flow conversion, surpassing previously shared targets.

Feb 5, 2026, 1:00 PM

Transcript

Genius Sports Announces Definitive Agreement to Acquire Legend

GENI

M&A

Guidance Update

New Projects/Investments

Genius Sports Limited announced a definitive agreement to acquire Legend, a digital sports and gaming media network, for up to $1.2 billion. The consideration includes $900 million payable at closing ($800 million in cash and $100 million in stock) and an earnout of up to $300 million.
The acquisition is expected to close in the second quarter of 2026 and will be funded by an $850 million Term Loan B issuance.
The transaction is anticipated to be immediately accretive to Group Adjusted EBITDA margins and Free Cash Flow conversion.
On a 2026 annualized pro forma basis, the combined entity is projected to achieve approximately $1.1 billion in Group Revenue and $320-330 million in Group Adjusted EBITDA, with approximately 50% Free Cash Flow conversion.
Genius Sports also reported preliminary unaudited estimates for fiscal year 2025, including Group Revenue of $669 million and Group Adjusted EBITDA of $136 million.