Genius Sports expects to achieve positive cash-flow by the second half of this year after further shrinking its net losses during Q1 2023, continuing upward trajectory from 2022.
Group wide quarterly revenue rose 13% to $97.2m (Q1 2022: $86.9m), alongside adjusted EBITDA of $8m, a substantial increase of 378% on a corresponding Q1 2022 loss of $3m, whilst the margin stood at 8%.
Most significantly for the London-based, NYSE-listed sportstech and data firm, its group-wide net loss has been further cut down to $25.2m, a decrease of 37% from $40.2m the year prior, and another step towards full profitability.
SBC News Genius updates FY23 expectations as Q1 results edge closer to profitability.
