Genius Sports Limited (NYSE:GENI) Q2 2022 Earnings Conference Call August 16, 2022 8:00 AM ET Company Participants Brandon Bukstel - IR Mark Locke - Co-Founder and CEO Nicholas Taylor - CFO Jack Davison - Chief Commercial Officer Conference Call Participants Bernie McTernan - Needham Ryan Sigdahl - Craig-Hallum Capital Group David Bain - B. Riley Jed Kelly - Oppenheimer Ben Chaiken - Credit Suisse Robin Farley - UBS Jason Bazinet - Citi Mike Hickey - The Benchmark Company Operator Welcome to the Genius Spor ...

| --- | --- | --- | |-------------------------------------------|-------|-------| | | | | | | | | | First Quarter 2022 Earnings May 12, 2022 | | | | | | | 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 s ...

Genius Sports Limited (NYSE:GENI) Q1 2022 Earnings Conference Call May 12, 2022 8:00 AM ET Company Participants Mark Locke – Co-Founder and Chief Executive Officer Nicholas Taylor – Chief Financial Officer Jack Davison – Chief Commercial Officer Josh Linforth – Commercial Director, Media & Engagement Conference Call Participants Bernie McTernan – Needham Ryan Sigdahl – Craig–Hallum Capital Group Jed Kelly – Oppenheimer & Co. Robin Farley – UBS Mike Hickey – Benchmark Operator Ladies and gentlemen, thank you ...

Financial Data and Key Metrics Changes - The company reported Q4 revenues of $84 million, representing a 79% increase year-on-year, with full year 2021 revenues reaching approximately $263 million, slightly ahead of guidance and reflecting over 75% annual growth [12][13][37] - Group adjusted EBITDA for the year was approximately $2 million, in line with expectations, indicating a broadly breakeven level [41] - The company expects group adjusted EBITDA of approximately $15 million in 2022 and $40 million to $50 million in 2023 [9][16] Business Line Data and Key Metrics Changes - Betting revenues grew 53% year-on-year in Q4 to $53.9 million, driven by increased utilization with existing sportsbooks and new customer wins [34] - Major business revenues more than doubled year-on-year in Q4 to $17.1 million, benefiting from strong advertiser spend in North America [35] - Sports revenue more than tripled in Q4 to $13 million, bolstered by recent acquisitions and existing tech services [35][36] Market Data and Key Metrics Changes - The company signed 20 new or renewed rights deals in Q4 with leagues and federations globally, including partnerships in high-growth markets such as Brazil, India, and Africa [14] - The company achieved dollar-based net revenue retention of 144% for its top 25 customers in 2021 [29] Company Strategy and Development Direction - The company aims to be profitable in 2022 and 2023, with a focus on executing its strategy and expanding its U.S. operations [9][32] - The long-term vision includes being the technology enablement layer driving the convergence of sports betting and media [11] - The company is strategically positioned to leverage its technology partnerships with leagues and federations to drive growth [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory despite potential risks from the ongoing situation in Ukraine, estimating a revenue impact of $2 million to $6 million [43] - The company remains disciplined in its investment strategy, particularly in the U.S. market, which is expected to flip profitable by 2024 [42] - Management highlighted the importance of operational execution and product development in 2022, focusing on in-play betting opportunities [71] Other Important Information - The company has a strong balance sheet with approximately $230 million available for potential acquisitions, indicating a readiness to explore M&A opportunities [94] - The company is monitoring the promotional environment and believes it is insulated from potential reductions in promotional spend by sportsbooks [54][114] Q&A Session Summary Question: Can you provide insights on gross margin expenses affecting EBITDA? - Management discussed promotional spend categories and indicated that reductions in promotional activities would not significantly impact their business model [51][56] Question: How do new states legalizing in the U.S. impact the business? - Management stated that they follow a consensus view on state legalization and do not require California's legalization to meet their targets, although it could present upside [65][107] Question: What is the focus for the company in 2022? - The focus for 2022 includes operational execution and driving value from recent acquisitions, with an emphasis on product development to enhance operator success [70][71] Question: How is the advertising business performing amid potential spend moderation? - Management indicated no negative impact on their advertising business from potential trends of slowdown in marketing spend, focusing on performance-based digital marketing [113] Question: What is the outlook for deferred revenue as a percentage of total revenues? - Management expects deferred revenue to continue to decrease as the business shifts towards more variable revenue models [87]

Revenue Growth - Group revenue for Q4 2021 reached $84.0 million, representing a 78.7% increase year-over-year[5] - Full year 2021 group revenue increased 75.5% to $262.7 million, with strong growth across all product lines[9] - Betting Technology, Content & Services revenue grew 60.2% year-over-year to $177.2 million, driven by customer growth and new service offerings[9] - Media Technology, Content & Services revenue more than doubled to $48.3 million, fueled by new customer acquisitions in the Americas and Europe[9] - Sports Technology & Services revenue increased 131.7% year-over-year to $37.2 million, supported by recent acquisitions[9] - The company expects to generate approximately $340 million in group revenue and $15 million in adjusted EBITDA for 2022[8] - For 2023, the revenue forecast is between $430 million and $440 million, with adjusted EBITDA expected to be $40 million to $50 million[8] Financial Performance - Group adjusted EBITDA for Q4 2021 was $(12.5) million, reflecting accelerated investment in the business[5] - The net loss for the year ended December 31, 2021, was $592.753 million, compared to a net loss of $30.348 million in 2020, representing an increase of 1,853%[15] - Adjusted EBITDA for the year ended December 31, 2021, was a loss of $1.550 million, compared to a profit of $17.510 million in 2020[17] Cash Flow and Investments - Cash flows from operating activities resulted in a net cash used of $63.308 million for 2021, a decrease from net cash provided of $17.073 million in 2020[15] - The company reported a net cash used in investing activities of $132.319 million for 2021, compared to $22.656 million in 2020, indicating a significant increase in investment outflows[15] - Financing activities generated net cash of $410.364 million in 2021, a substantial increase from $10.096 million in 2020, primarily due to proceeds from the merger with dMY Technology Group, Inc. II[15] - The cash balance at the end of the period increased to $222.378 million from $11.781 million at the end of 2020, reflecting a net increase of $210.597 million[15] Strategic Initiatives - Genius announced a transformative partnership with the Canadian Football League to enhance fan engagement[9] - The company launched 'RomoVision' technology for NFL broadcasts, enhancing viewer experience through advanced analytics[9] - Future outlook includes continued investment in technology and market expansion to enhance relationships with sports organizations and improve operational performance[30] Stock-Based Compensation - The company experienced a significant increase in stock-based compensation, totaling $489.474 million for the year ended December 31, 2021, compared to none in 2020[15] Market Position - The company is positioned as a global leader in digital sports content and technology, serving over 400 sports leagues and federations worldwide[20] Performance Measurement - The company emphasizes the importance of adjusted EBITDA as a key performance measure to evaluate core operating performance and make strategic decisions[26]

Financial Data and Key Metrics Changes - Genius Sports reported record revenue of $69.1 million in Q3 2021, representing over 70% year-on-year growth [9][27] - Adjusted EBITDA is broadly breakeven, with the company raising its 2021 revenue guidance to a range of $257 million to $262 million, equating to over 70% year-on-year growth at the midpoint [14][29] Business Line Data and Key Metrics Changes - Betting technology content and services revenue grew 48% year-on-year to $43.6 million, driven by increased pricing, new customer wins, and higher content utilization [27] - Major technology content and services revenue more than doubled year-on-year to $13.9 million, with strong growth in the media business from new customer wins [28] - Sports technology and services revenue increased 159% to $11.6 million, significantly contributed by Sportzcast and Second Spectrum [28] Market Data and Key Metrics Changes - The company has signed over 30 new rights deals with various leagues, expanding its portfolio to 192,000 events under official rights, of which over 120,000 are exclusive [10][11] - The addressable market for the media business is estimated at $60 billion globally, with a long-term market share target of 75 to 100 basis points [21][22] Company Strategy and Development Direction - The company aims to create a business that captures a slice of every sports-related transaction globally, positioning itself as a technology leader in the sports ecosystem [23][24] - A disciplined M&A strategy is in place, focusing on the efficient integration of newly acquired businesses to enhance service offerings [13] - The company plans to reinvest heavily in technology development, rights strategy, and U.S. infrastructure to support growth [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to continue taking market share and achieving premium pricing for value-added content and services [31] - The company is in a unique growth cycle, presenting opportunities for strategic investments to build infrastructure and achieve long-term goals [32][35] Other Important Information - The company has leveraged its exclusive NFL partnership to build key sportsbook relationships, with over 97% of NFL bets placed in the U.S. powered by Genius Sports [18][20] - The company has committed advertising spend of at least $125 million across its media products over an average of three years, primarily focused on the North American market [19][67] Q&A Session Summary Question: Can you expand on the 5% comment on global GGR? - Management believes that achieving 5% of global gaming revenue is eminently achievable and is on a strong journey towards that goal [42] Question: How is betting revenue trending in October and November? - Management indicated that they have downside protection in their deals and that the revenue guidance has been adjusted based on trends observed in October and early November [39] Question: Is the NFL transaction trending to cash breakeven? - Management confirmed that they are managing the business towards an EBITDA breakeven or better position on an annual basis, with significant investments in rights and technology [49][50] Question: What is the outlook for the Canadian market? - Management views regulation in Canada as a positive development, creating opportunities for growth in both sports betting and media partnerships [56] Question: Can you provide more details on the advertising market traction? - The company is already seeing traction in the advertising market, with expectations for announcements regarding new wins in the non-sports betting space in the coming year [64]

Genius Sports Limited (NYSE:GENI) Q2 2021 Earnings Conference Call September 8, 2021 8:00 AM ET Company Participants Mark Locke - Co-Founder and Chief Executive Officer Nicholas Taylor - Chief Financial Officer Jack Davison - Chief Commercial Officer Josh Linforth - Commercial Director, Media & Engagement Conference Call Participants Stephen Grambling - Goldman Sachs Jed Kelly - Oppenheimer Bernie McTernan - Needham & Company Ryan Sigdahl - Craig-Hallum Capital Robin Farley - UBS Operator Welcome to the Gen ...

Financial Data and Key Metrics Changes - In Q1 2021, the company reported a revenue growth of 52% year-over-year, reaching nearly $54 million, and adjusted EBITDA increased over 400% to $9.3 million [11][51][54] - The company revised its full-year 2021 revenue guidance to a range of $250 million to $260 million, up approximately 30% to 35% from previous guidance [13][55] Business Line Data and Key Metrics Changes - Betting Technology, Content and Services revenue increased by 42% year-over-year to $39 million, driven by growth in betting markets and new customer acquisitions [52] - Major Technology Content and Services revenue more than doubled year-over-year to $9.4 million, fueled by increased advertising spend from sportsbooks [53] - Sports Technology and Services revenue rose by 42% to $5.4 million, primarily due to expanded services to existing sports league customers [53] Market Data and Key Metrics Changes - The company has grown its portfolio to over 185,000 events under official rights, with 112,000 being exclusive, reflecting a 25% year-on-year increase [17][56] - The company is positioned to capitalize on the expanding legalized US betting market, with partnerships established in 13 US states and three tribal jurisdictions [25][26] Company Strategy and Development Direction - The company aims to be the official data and technology partner in the sports ecosystem, focusing on monetizing audiences through various channels beyond sports betting, including ticketing and merchandising [9][10] - The recent exclusive six-year partnership with the NFL is expected to enhance the company's capabilities in data distribution, media engagement, and advertising [12][30] - Strategic acquisitions of Second Spectrum and FanHub are intended to strengthen the company's core offerings and expand its market reach [42][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the sports betting market and the value of official data as more sports leagues engage with betting [16][19] - The company anticipates that the NFL partnership will lead to increased revenue and customer acquisition opportunities, particularly during the NFL season [66][89] - Management expects the NFL deal to be breakeven in 2021 and cash-generating thereafter, with profitability anticipated over the life of the contract [89][118] Other Important Information - The company is committed to official data, which is increasingly valuable as live betting markets grow [15][16] - The company plans to invest $15 million in discretionary investments in 2021 to capture long-term streaming rights [62] Q&A Session Summary Question: How can Genius benefit from more content going streaming? - Management indicated that the convergence of streaming, sports betting, and fan engagement allows for targeted offerings and enhanced customer acquisition [73][74] Question: Will there be more media opportunities around connected TV and OTT advertising? - The company is focused on optimizing the use of underlying data across various platforms, including connected TV and performance marketing [76][77] Question: How does the NFL deal impact EBITDA guidance? - The NFL deal is included in the core numbers and is expected to be breakeven in 2021, contributing positively thereafter [87][89] Question: How sticky is the NFL deal moving forward? - The NFL partnership is viewed as foundational and transformational, with a long-term vision aligned between the company and the NFL [106][108] Question: What is the expected revenue ramp from the NFL deal? - Revenue growth is anticipated to come from increased partnerships, content provision, and market size growth, with monetization expected to begin immediately [120]