Genius Sports has boosted its year-end revenue guidance to between $1.005 billion and $1.025 billion, while also raising its EBITDA expectations to the range of $285 million to $295 million, following a robust second-quarter performance.

The company achieved revenue of $196 million for the quarter, marking a 65% year-over-year increase and surpassing its guidance by $11 million, along with adjusted EBITDA of $53 million. The impressive results were driven by significant growth in the Betting Technology, Content & Services sector, which generated $117 million in revenue (up 28%), and in Media Technology, Content & Services, which reported $78 million (an impressive 193% increase).

This growth was fueled by heightened interest in Genius’ new advertising technology platform, Moment Engine, and the recent acquisition of the Legend media network. However, Genius also reported a net loss of $77 million and a decrease in cash reserves from $197 million to $155 million during the quarter.

CFO Bryan Castellani attributed some of this decline to one-time expenses related to the Legend acquisition, including $41 million in debt financing. “Q2 is always our seasonal low point for cash,” Castellani noted. “When excluding specific one-time transaction-related effects, our underlying operating cash flow would have been approximately breakeven.”