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enius Sports reported its second quarter 2021 results on Wednesday, seeing revenue in Q2 more than doubling year-over-year (108%) to $55.8 million. The company also posted second quarter adjusted EBITDA up 126% year-over-year to $5.2 million.

The sports data and technology provider saw its technological capabilities throughout the quarter enhanced by the acquisition of Spirable, Second Spectrum and FanHub, expected to support improved long-term customer traction.

Revenue from betting technology, content & service increased 122% year-over-year to $40.7 million. Growth in the business was driven by the return of sports calendars, increased market share, higher share of wallet through additional services for sportsbooks, and new customer wins.

Moreover, these last few months saw the company announcing multi-year strategic partnerships with DraftKings, Caesars, WynnBet and 888 SI Sportsbook to provide full range of official sportsbook data and content, as well as engagement solutions, including a complete suite of NFL-related products.

“We’re enormously proud of our continued execution in the second quarter and our ability to implement our end-to-end solutions on behalf of our industry partners,” said Mark Locke, GSL Co-Founder and CEO. “We continue to significantly expand our leading portfolio of official rights by partnering with sports leagues and federations in key regions across the globe.”

As a result of the positive results obtained throughout the quarter, the company has updated its full-year 2021 projections and now expects to generate revenue of approximately $255 to $260 million (previously $250 to $260 million) and adjusted EBITDA of approximately $10 to $20 million.

“Our comprehensive suite of premium content, technology services and fan engagement solutions have strengthened our commercial partnerships,” further added Locke. “Our recently announced NFL-related agreements with sportsbook operators have validated our strategy and instilled confidence in our ability to deliver results at the high end of our previous guidance for the year.”

Moreover, in the weeks following the second quarter reporting period, Genius Sports expanded its market reach by being granted a permanent sports wagering license by the West Virginia Lottery; by securing a multi-year agreement with the British Columbia Lottery Corporation; and by being granted a long-term Online Sports Wagering Vendor Permit by the Wyoming Gaming Commission.

With the latest addition of Arizona, the company is now authorized to operate in 16 US states, where it offers its services to sportsbook and lotteries, which also include streaming and marketing solutions.

Genius Sports’ partnership spree has also seen the company entering a long-term agreement with Penn Interactive to provide official data and fan engagement solutions for the company’s Barstool Sportsbook.

Announced on Thursday, via this deal Genius Sports will provide the sportsbook its official data, including access to select sports data from US and international sports leagues. This includes NASCAR’s full suite of official data-powered in-race betting markets, as well as NFL’s real-time statistics.





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