Genius Sports has reported strong top-line growth but a much larger loss for the three months ended March 31, 2026. Revenue rose to $187.9 million, up 31% from $144.0 million, driven mainly by Betting Technology, Content and Services at $146.2 million and Media Technology, Content and Services at $41.7 million.

Data and streaming rights costs climbed to $85.6 million, helping push total cost of revenue up 33% and limiting gross profit to $43.3 million. Operating expenses increased 55% to $86.5 million, including sharply higher stock-based compensation of $30.9 million and $7.5 million of transaction expenses.

Net loss widened to $55.5 million, or $0.21 per share, compared with a $8.2 million loss, while Adjusted EBITDA improved to $24.0 million. Cash and cash equivalents fell to $197.4 million from $280.6 million as operating activities used $66.4 million of cash.

After quarter-end, Genius closed the Legend acquisition for $800 million in cash plus 10.1 million shares and put in place a new $825 million term loan and $220 million revolving facility, significantly expanding its scale and leverage.