Core Insights - Genius Sports Limited has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025, with the Securities and Exchange Commission, highlighting its financial performance and operational achievements [1][7] Company Overview - Genius Sports serves as the official data, technology, and broadcast partner for the global sports, betting, and media ecosystem, operating in over 150 countries and enhancing fan experiences [2][4] - The company collaborates with over 1,000 sports organizations, including major leagues and brands such as the NFL, English Premier League, and ESPN, establishing itself as a key player in the sports industry [3] Technological Advancements - Genius Sports leverages AI, computer vision, and big data to enhance sports fan experiences, offering products like augmented broadcasts, automated officiating tools, and personalized marketing solutions [4] - The company has announced a multi-year partnership with the Pac-12 Conference to advance authorized sports betting and fan engagement through its data and AI platform, GeniusIQ [6] Financial Performance - The financial results for the fourth quarter and full year ended December 31, 2025, indicate accelerated revenue growth and record adjusted EBITDA, with the betting business outperforming the broader industry [7]

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF ...

Core Viewpoint - Genius Sports Ltd reported mixed financial results for the fourth quarter, with a loss per share that significantly missed market expectations while sales exceeded analyst estimates [1]. Financial Performance - The company reported a quarterly loss of 8 cents per share, compared to market estimates of earnings of 3 cents per share [1]. - Quarterly sales reached $240.496 million, surpassing the analyst consensus estimate of $234.255 million [1]. Future Outlook - For FY2026, Genius Sports projects sales between $810 million and $820 million, which is below market estimates of $851.474 million [1]. Stock Performance - Following the earnings announcement, Genius Sports shares increased by 0.5% to $6.07 in pre-market trading [2]. Analyst Ratings and Price Targets - Truist Securities analyst Barry Jonas maintained a Buy rating on Genius Sports but lowered the price target from $15 to $13 [3]. - BTIG analyst Clark Lampen also maintained a Buy rating, reducing the price target from $16 to $11 [3]. - Needham analyst Bernie McTernan kept a Buy rating while lowering the price target from $16 to $14 [3].

Core Insights - The company reported a strong revenue growth of 31% in 2025, reaching $669 million, marking the highest annual increase since 2021 [2][4] - Betting revenue increased by 33% in 2025, driven by the introduction of innovative products like BetVision, which enhances customer engagement and in-play wagering [1][2] - The media business also performed well, with a 37% increase in revenue to $144 million [1][2] Financial Performance - The adjusted EBITDA for the group was $136 million, representing a 20% margin, the highest annual margin as a public company [2][4] - The company expects organic revenue to generate between $810 million and $820 million in 2026, with adjusted EBITDA projected between $180 million and $190 million, indicating growth of 22% and 36% respectively [8] - The acquisition of Legend is anticipated to be immediately accretive, with the combined entity expected to achieve group revenue of $1.1 billion and adjusted EBITDA of $320 million to $330 million [9] Market Position and Strategy - The company is deeply embedded in the media infrastructure, partnering with major advertising agencies and platforms to enhance its advertising capabilities [6][7] - The Americas accounted for most of the growth, with a 41% increase, while European markets also showed strong performance with growth exceeding 20% [7] - The acquisition of Legend is seen as a strategic move to enhance audience engagement and monetization capabilities, leveraging its technology to improve user interaction and revenue generation [10][12] Future Outlook - The company reaffirms its guidance for continued top-line growth and margin expansion into 2026, supported by the strong performance of both betting and media segments [4][5] - The integration of Legend's technology is expected to enhance the company's ability to capture a greater share of economic value in the sports and gaming sectors [25][26] - The company anticipates that the combination with Legend will lead to improved customer acquisition efficiency and increased lifetime value of customers [20][21]

Core Insights - Genius Sports reported strong full-year performance for 2025, with a revenue increase of 31% to $669 million and an adjusted EBITDA margin of 20%, marking its best annual performance since 2021 [2][6] - The company emphasized the growth of its BetVision product, which is available for various sports and is a key driver of engagement and in-play wagering [1][6] - Management reaffirmed guidance for 2026, projecting organic revenue of $810–$820 million and adjusted EBITDA of $180–$190 million, indicating continued growth and margin expansion [4][12] Financial Performance - Betting revenue increased by 33% in 2025, attributed to expansion with existing customers and a growing product suite [2][6] - The media segment saw a 37% revenue increase to $144 million, with significant growth in the second half of 2025 [7][8] - Genius generated group revenue of $669 million and group adjusted EBITDA of $136 million in 2025, with a balanced growth across betting and media segments [2][6] 2026 Outlook - The company expects 22% revenue growth and 36% adjusted EBITDA growth for 2026, consistent with previous guidance [12] - Changes in revenue recognition will shift some media revenue from gross to net reporting, which is expected to improve margins [9][12] Legend Acquisition - Genius Sports is planning to acquire Legend, positioning it as a technology-driven audience and monetization platform rather than a traditional affiliate business [3][5] - The acquisition is expected to be immediately accretive, with a pro forma revenue of approximately $1.1 billion and adjusted EBITDA of $320–$330 million [5][18] - Management highlighted four immediate revenue synergy opportunities post-acquisition, including cross-selling and technology integration [19][23] Technology and Partnerships - The company is focusing on enhancing its media ecosystem through partnerships with major agencies and platforms, embedding real-time sports signals into advertising workflows [10][11] - Genius's technology, including the Moment Engine, is expected to optimize in-play outcomes and enhance audience engagement [19][23] - The acquisition of Legend is seen as a way to leverage its technology for better audience monetization and engagement [14][16]

Core Insights - Genius Sports Limited reported $240.5 million in revenue for Q4 2025, marking a 37% year-over-year increase and a 2.12% surprise over the Zacks Consensus Estimate of $235.52 million [1] - The company reported an EPS of -$0.03, which is unchanged from the same period last year, while the consensus EPS estimate was $0.02, resulting in a -228.76% surprise [1] Revenue Breakdown - Revenue from Betting Technology, Content & Services was $167.46 million, exceeding the average estimate of $162.84 million by five analysts, representing a year-over-year increase of 30.6% [4] - Revenue from Media Technology, Content & Services reached $58.18 million, surpassing the estimated $54.43 million and showing a significant year-over-year increase of 95.5% [4] - Revenue from Sports Technology & Services was $14.85 million, below the estimated $17.28 million, reflecting a year-over-year decrease of 15.4% [4] Stock Performance - Over the past month, shares of Genius Sports Limited have declined by 21.3%, compared to a -1.3% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - The company achieved group revenue of $669 million in 2025, representing a 31% growth, the strongest annual increase since 2021 [7] - Adjusted EBITDA reached $136 million, translating to a 20% margin, marking the highest annual margin as a public company [7] - The betting revenue increased by 33% in 2025, driven by growth with existing customers and innovative products [7][8] - The media business revenue grew by 37% to $144 million, supported by strong execution in the second half of the year [8] Business Line Data and Key Metrics Changes - Betting revenue growth was primarily driven by the introduction of products like BetVision, which increased engagement and in-play wagering [7][8] - The media business's strong performance was attributed to new partner launches and favorable market conditions, although exceptionally high growth rates are not expected to continue [8][9] Market Data and Key Metrics Changes - The Americas accounted for most of the company's growth in 2025, with a 41% increase, while established European markets also performed well with growth exceeding 20% [10] - The company expects organic business revenue to generate between $810 million and $820 million in 2026, representing growth of 22% [11] Company Strategy and Development Direction - The company reaffirmed its 2026 guidance of continued top-line growth and margin expansion, aligning with previous communications [5] - The acquisition of Legend is seen as a strategic move to enhance audience monetization and improve engagement through technology [12][13] - The company plans to report revenue across two product groups, betting and media, starting in 2026, to better reflect operational structure [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial and strategic rationale behind the acquisition of Legend, emphasizing its technology and audience engagement capabilities [12][13] - The company anticipates that the addition of Legend will be immediately accretive to guidance post-close, with expectations of achieving $1.1 billion in group revenue and $320 million to $330 million in Adjusted EBITDA on an annualized basis [12][21] Other Important Information - The company is transitioning some media segment revenue recognition from gross to net reporting, which will impact reported top-line growth rates but is expected to improve margin profiles [9] - The company has partnered with major advertising agencies and platforms to enhance its media offerings and drive advertising spend [9][10] Q&A Session Summary Question: Free cash flow concerns and investment impacts - Management noted that free cash flow was impacted by non-recurring legal expenses, with a $30 million swing due to these costs [30][31] Question: Media business growth contributions - Management indicated that new media agreements had a muted impact on growth in the second half of the year as they were still ramping up [32] Question: Update on media partner conversations post-acquisition - Management reported positive progress in conversations with media partners and agencies, with expectations of increased advertising spend around prediction markets [39][40] Question: Advertising inventory adequacy - Management stated that while more unique inventory is always desired, it is not necessary to achieve financial targets at this time [83][86] Question: BetVision event growth potential - Management indicated that BetVision could grow significantly, with a target of reaching 300,000 events, particularly through esports competitions [88] Question: Engagement metrics from the NFL season - Management reported a 32% increase in unique plays on NFL and a 62% increase across football, indicating strong engagement [92] Question: Reaction of league partners to the Legend acquisition - Management highlighted that league partners are attracted to the potential for wider viewership and messaging through the company's audience reach [99][100]

Financial Data and Key Metrics Changes - The company achieved group revenue of $669 million in 2025, representing a 31% growth, the strongest annual increase since 2021 [7] - Adjusted EBITDA reached $136 million, translating to a 20% margin, marking the highest annual margin as a public company [7] - The betting revenue increased by 33% in 2025, driven by growth with existing customers and innovative products [7][8] - The media business grew by 37% to $144 million, supported by strong execution in the second half of the year [8] Business Line Data and Key Metrics Changes - Betting revenue growth was primarily driven by the introduction of products like BetVision, which increased engagement and in-play wagering [7][8] - The media segment's revenue growth was impacted by changes in revenue recognition, transitioning some arrangements from gross to net reporting, which will affect top-line growth rates but improve margin profiles [9] Market Data and Key Metrics Changes - The Americas accounted for most of the company's growth in 2025, with a 41% increase, while established European markets also performed well, exceeding 20% growth [10] - The company expects organic business revenue to generate between $810 million and $820 million in 2026, representing a growth of 22% [11] Company Strategy and Development Direction - The company reaffirmed its 2026 guidance of continued top-line growth and margin expansion, aligning with previous communications [5] - The acquisition of Legend is seen as a strategic move to enhance audience monetization and leverage technology for better engagement [12][14] - The company plans to report revenue across two product groups, betting and media, starting in 2026, to better reflect operational structure [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial and strategic rationale behind the acquisition of Legend, highlighting its potential to enhance engagement and revenue [12][14] - The company is optimistic about the growth opportunities in the prediction markets and the overall betting landscape, despite concerns about volume deceleration in the NFL [100][108] Other Important Information - The company is embedding its technology into various media partnerships, including collaborations with major advertising agencies and platforms [9][10] - The integration of Legend's technology is expected to enhance the company's existing products, such as BetVision, and drive higher in-play betting engagement [78] Q&A Session Summary Question: Free cash flow concerns and investment impacts - Management noted that free cash flow was impacted by one-time legal expenses, with a $30 million swing due to non-recurring costs [30][31] Question: Media business growth from new agreements - The contribution from new media agreements was described as muted, with early stages of ramp-up expected [32] Question: Update on media partner conversations post-acquisition - Conversations with media partners are progressing well, with expectations of increased advertising spend around prediction markets [39] Question: Breakdown of advertising spend sources - The company aims to capture demand from both direct agency relationships and the ad tech ecosystem, with no specific breakdown available yet [47] Question: Rights costs growth expectations - Rights costs are expected to grow, influenced by recent acquisitions and new terms with leagues [49] Question: Engagement metrics from the NFL season - Year-over-year engagement improvements were noted, with significant increases in unique plays observed [92] Question: Reaction of league partners to the Legend acquisition - League partners are attracted to the potential for wider viewership and audience engagement through the acquisition [99]

Financial Data and Key Metrics Changes - The company achieved group revenue of $669 million in 2025, representing a 31% growth, the strongest annual increase since 2021 [6][4] - Adjusted EBITDA was $136 million, translating to a 20% margin, marking the highest annual margin as a public company [6][4] - The betting revenue increased by 33% in 2025, driven by growth with existing customers and innovative products [6][7] - The media business revenue grew by 37% to $144 million, supported by strong execution in the second half of the year [6][7] Business Line Data and Key Metrics Changes - Betting revenue growth was primarily driven by the introduction of products like BetVision, which increased engagement and in-play wagering [6][7] - The media segment is transitioning some revenue recognition from gross to net reporting, which will impact reported growth rates but improve margin profiles [9] - The second half of 2025 saw nearly double the revenue compared to the second half of 2024, although such high growth rates are not expected to continue [7][9] Market Data and Key Metrics Changes - The Americas accounted for most of the growth, up 41%, while established European markets also performed well with growth exceeding 20% in 2025 [10] - The company expects organic business revenue to generate between $810 million and $820 million in 2026, representing growth of 22% [11] Company Strategy and Development Direction - The company reaffirmed its 2026 guidance of continued top-line growth and margin expansion, aligning with previous communications [4] - The acquisition of Legend is seen as a strategic move to enhance audience monetization and leverage technology for better engagement [13][14] - The company plans to report revenue across two product groups, betting and media, starting in 2026, to better reflect operational structure [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial and strategic rationale behind the acquisition of Legend, emphasizing its technology and audience engagement capabilities [13][14] - The company anticipates that the combined entity will achieve group revenue of $1.1 billion and Adjusted EBITDA of $320 million to $330 million post-acquisition [12] - Management highlighted the importance of owning environments for user engagement, stating that proprietary behavioral data is a competitive advantage [19] Other Important Information - The company is embedding its real-time sports signals into major advertising platforms, enhancing its position in the advertising ecosystem [9] - The integration of Legend's technology is expected to optimize existing products like BetVision, potentially increasing in-play betting revenue [24][75] Q&A Session Summary Question: Free cash flow and one-time costs - Management noted that free cash flow was impacted by non-recurring legal expenses, with a $30 million swing due to these costs [28][30] Question: Media business growth from new agreements - The impact of new media agreements on total growth was described as muted, as these agreements take time to ramp up [31] Question: Update on partner conversations post-acquisition - Management indicated that conversations with media partners are progressing well, with expectations of increased advertising spend around prediction markets [34][36] Question: Advertising inventory adequacy - Management stated that while more unique inventory is always desired, it is not necessary to achieve financial targets [78] Question: BetVision event growth potential - The company aims to grow BetVision events significantly, with a target of reaching 300,000 events, particularly in esports [85] Question: Engagement metrics from the NFL season - Year-over-year engagement improvements were noted, with a 32% increase in unique plays on NFL and a 62% increase across football [89]

Fourth Quarter 2025 Earnings March 4, 2026 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 statements, including but not limited to statements relating to the proposed acquisition of Legend and the result ...