Group Revenue of $341m and Group Adj. EBITDA of $16m in the year ended December 31, 2022, exceeding guidance of $340m and $15m, respectively

2022 Group Revenue growth of 41% at constant currency ($361m at guidance exchange rate¹ vs. guidance of $340m)

2022 Group Net loss of $182m and Group Adj. EBITDA of $16m ($19m at guidance exchange rate¹, exceeding guidance by 29%)

U.S. revenue more than doubled year-on-year, driven by continued market liberalization, growth of in-play GGR (60% increase year-on-year), and expanded customer relationships

2023 Group Revenue outlook of $391m and Group Adj. EBITDA outlook of $41m, each in-line with consensus estimates and reflective of today’s foreign exchange rates

The Company expects to generate positive free-cash-flow in the second half of 2023

Guidance exchange rate assumes comparable GBP:USD exchange rate of 1.35 at time of initial forecast in January 2022

$ in thousands

Group Revenue

Betting Technology, Content & Services

Media Technology, Content & Services

Sports Technology & Services

Group Net loss

Group Net loss Margin

Group Adjusted EBITDA

Group Adjusted EBITDA Margin

$ in thousands

Group Revenue

Betting Technology, Content & Services

Media Technology, Content & Services

Sports Technology & Services

Group Net loss

Group Net loss Margin

Group Adjusted EBITDA

Group Adjusted EBITDA Margin

Group Revenue: Group revenue increased 25% year-over-year to $105.3 million. On a constant currency basis, revenue increased $28.0 million, or 36% year-over-year.

Betting Technology, Content & Services: Revenue increased 22% (35% on a constant currency basis) year-over-year to $65.5 million, driven by new customer acquisitions, increased utilization of available content, and expansion of value-add services.

Media Technology, Content & Services: Revenue increased 50% (58% on a constant currency basis) year-over-year to $25.6 million, predominately organic growth driven by increasing uptake of programmatic advertising services alongside new customer wins in the quarter.

Sports Technology & Services: Revenue increased 9% (14% growth on a constant currency basis) year-over-year to $14.2 million, primarily driven by increased revenues derived from Second Spectrum.

Group Net Loss: Group net loss was $127.7 million in the quarter compared to a net loss of $53.3 million in the fourth quarter ended December 31, 2021. The increase is primarily driven by a loss on foreign currency.

Group Adjusted EBITDA: Group Adjusted (non-GAAP) EBITDA was $2.7 million in the quarter, or $4.5 million at the guidance exchange rate¹ vs. $3.0 million guidance. This represents a $15.2 million improvement compared to the $12.5 million loss in the fourth quarter ended December 31, 2021.

Guidance exchange rate assumes comparable GBP:USD exchange rate of 1.35 at time of initial forecast in January 2022

Group Revenue: Group revenue increased 30% year-over-year to $341.0 million. On a constant currency basis, revenue increased $98.7 million, or 41% year-over-year.

Betting Technology, Content & Services: Revenue increased 18% (30% on a constant currency basis) year-over-year to $209.3 million, driven by renegotiations and expansion of value-add services for existing customers, new customer acquisitions, and increased utilization of available content.

Media Technology, Content & Services: Revenue increased 71% (81% on a constant currency basis) year-over-year to $82.7 million, driven by the acquisition of new customers in the Americas primarily for programmatic advertising services.

Sports Technology & Services: Revenue increased 32% (39% growth on a constant currency basis) year-over-year to $49.1 million, driven by the inclusion of revenues derived from Second Spectrum. In addition, there was also growth driven by expanded services provided to existing sports league and federation customers across all tiers of sport.

Group Net Loss: Group net loss was $181.6 million in the fiscal year ended December 31, 2022, compared to a net loss of $592.8 million in the fiscal year ended December 31, 2021. This represents a 69% year-over-year improvement, driven primarily by a reduction in stock-based compensation, disciplined management of operating expenses, and significant revenue growth compared to the fiscal year ended December 31, 2021.

Group Adjusted EBITDA: Group Adjusted (non-GAAP) EBITDA was $15.8 million in the quarter, or $19.3 million at the guidance exchange rate¹ vs. $15.0 million guidance. This represents a significant increase from the $1.6 million generated in the fiscal year ended December 31, 2021. This was driven by meaningful revenue growth, overall revenue mix as well as disciplined cost control.

Strong Cash Position: Closing cash balance was $159 million as of December 31, 2022, above the previously guided range of $140 to $150 million. The Company expects to begin generating positive free-cash-flow in the second half of 2023. This closing cash balance includes approximately $36 million of restricted cash related to a guarantee for rights. As noted last quarter, this amount of restricted cash will reduce over time with a corresponding increase in cash and cash equivalents on the balance sheet.

Guidance exchange rate assumes comparable GBP:USD exchange rate of 1.35 at time of initial forecast in January 2022

Launched NFL ‘Watch & Bet’ video streams in the U.S. and Canada:

Expanded Partnership with the NFL to provide ‘Watch & Bet’ video streams to U.S. sportsbooks for the first time, starting with Caesars Entertainment

Struck ‘Watch & Bet’ partnerships for NFL video streams in Canada with three approved sportsbooks

Extended partnership with bet365 with exploratory launch of next generation betting products powered by Second Spectrum tracking technology

Developed ‘In-Play MultiBet’, a new product enabling bettors to place same-game parlays during live play or game intervals

Expanded official data partnership with Football DataCo to include sub-second, skeletal tracking for the English Premier League

Launched 3-point shot tracker for the NBA on ESPN using Second Spectrum technology

Second Spectrum live optical tracking system successfully validated by the FIFA Quality Programme for Electronic Performance and Tracking Systems (“EPTS”)

Awarded Ohio Sports Gaming Supplier License

Reached a settlement to successfully resolve a legal dispute with BetConstruct, shortly after resolving a separate litigation with Sportradar

Expanded NBA partnership to deepen NBA League Pass innovations and develop a new next generation platform built on Second Spectrum technology

Supplied TSN’s new TSN+ direct-to-consumer streaming product with real-time data-driven broadcast overlays for the NFL Playoffs and Super Bowl LVII

Launched suite of NFL free-to-play interactive games to grow its international fan base

Clinched a new partnership with the Portland Trail Blazers to power immersive broadcasts through Second Spectrum optical tracking technology

Introduced Genius Marketing Suite, an all-in-one fan engagement engine specifically developed to transform how a range of partners identify, engage, and retain sports fans

Awarded initial temporary sports betting vendor license in the state of Massachusetts

Successfully eliminated all outstanding public warrants, providing greater certainty of Genius’ capital structure and offering greater financial flexibility moving forward

$ in millions

Group Revenue

Betting Technology, Content & Services

Media Technology, Content & Services

Sports Technology & Services

Group Adjusted EBITDA

Revenue

Cost of revenue

Gross profit (loss)

Operating expenses:

Sales and marketing

Research and development

General and administrative

Transaction expenses

Total operating expense

Loss from operations

Interest expense, net

Loss on disposal of assets

(Loss) gain on fair value remeasurement of contingent consideration

Change in fair value of derivative warrant liabilities

(Loss) gain on foreign currency

Total other (expense) income

Loss before income taxes

Income tax (expense) benefit

Gain from equity method investment

Net loss

Preferred share accretion

Net loss attributable to common stockholders

Loss per share attributable to common stockholders:

Basic and diluted

Weighted average common stock outstanding:

Basic and diluted

ASSETS

Current assets:

Cash and cash equivalents

Restricted cash, current

Accounts receivable, net

Contract assets

Prepaid expenses

Other current assets

Total current assets

Property and equipment, net

Intangible assets, net

Operating lease right of use assets

Goodwill

Investments

Restricted cash, non-current

Other assets

Total assets

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

Accrued expenses

Deferred revenue

Current debt

Derivative warrant liabilities

Operating lease liabilities, current

Other current liabilities

Total current liabilities

Long-term debt – less current portion

Deferred tax liability

Operating lease liabilities, non-current

Other liabilities

Total liabilities

Commitments and contingencies

Shareholders’ equity

Common stock, $0.01 par value, unlimited shares authorized, 201,853,695 shares issued and outstanding at December 31, 2022; unlimited shares authorized, 193,585,625 shares issued and outstanding at December 31, 2021

B Shares, $0.0001 par value, 22,500,000 shares authorized, 18,500,000 shares issued and outstanding at December 31, 2022 and 2021

Additional paid-in capital

Accumulated deficit

Accumulated other comprehensive loss

Total shareholders’ equity

Total liabilities and shareholders’ equity

Consolidated net loss

Adjusted for:

Interest expense, net

Income tax expense (benefit)

Amortization of acquired intangibles ⁽¹⁾

Other depreciation and amortization ⁽²⁾

Stock-based compensation ⁽³⁾

Transaction expenses

Litigation and related costs ⁽⁴⁾

Change in fair value of derivative warrant liabilities

Loss (gain) on fair value remeasurement of contingent consideration

Loss (gain) on foreign currency

Other ⁽⁵⁾

Adjusted EBITDA

Includes amortization of intangible assets generated through business acquisitions, inclusive of amortization for data rights, marketing products, and acquired technology.

Includes depreciation of Genius’ property and equipment, amortization of contract cost, and amortization of internally developed software and other intangible assets. Excludes amortization of intangible assets generated through business acquisitions.

Includes restricted shares, stock options, equity-settled restricted share units, cash-settled restricted share units and equity-settled performance-based restricted share units granted to employees and directors (including related employer payroll taxes) and equity-classified non-employee awards issued to suppliers.

Includes mainly legal and related costs in connection with non-routine litigation matters including Sportradar litigation and BetConstruct litigation.

Includes expenses incurred related to earn-out payments on historical acquisitions, gain/losses on disposal of assets, severance costs, loss on termination and impairment of property leases, and employee share scheme set up costs.