$GENI

Genius Sports Ltd

CIK:0001834489|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenue	$ 669,489	$ 510,894	$ 412,977
Cost of revenue	515,647	382,187	343,972
Gross profit	153,842	128,707	69,005
Operating expenses:
Sales and marketing	56,162	37,411	29,432
Research and development	31,087	24,576	26,070
General and administrative	207,972	123,011	85,167
Transaction expenses	9,949	2,246	2,494
Total operating expenses	305,170	187,244	143,163
Loss from operations	(151,328)	(58,537)	(74,158)
Interest (expense) income, net	(6)	921	1,953
Gain (loss) on disposal of assets	33	(147)	(291)
Gain (loss) on fair value remeasurement of contingent consideration	0	1,024	(2,919)
Change in fair value of derivative warrant liabilities	0	0	(534)
Loss on abandonment of assets	0	0	(11,226)
Gain (loss) on foreign currency	33,567	(9,519)	3,875
Total other income (expense)	33,594	(7,721)	(9,142)
Loss before income taxes	(117,734)	(66,258)	(83,300)
Income tax benefit (expense)	2,496	(509)	(5,340)
Gain from equity method investment	3,657	3,727	3,106
Net loss	$ (111,581)	$ (63,040)	$ (85,534)
Loss per share attributable to common stockholders:
Basic	$ (0.44)	$ (0.27)	$ (0.38)
Diluted	$ (0.44)	$ (0.27)	$ (0.38)
Weighted average common stock outstanding:
Basic	254,757,802	229,509,169	225,882,254
Diluted	254,757,802	229,509,169	225,882,254

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (111,581)	$ (63,040)	$ (85,534)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	70,519	72,572	77,308
(Gain) loss on disposal of assets	(33)	147	291
(Gain) loss on fair value remeasurement of contingent consideration	0	(1,024)	2,919
Stock-based compensation	148,542	54,475	35,318
Change in fair value of derivative warrant liabilities	0	0	534
Non-cash consideration, net	(2,461)	(2,283)	(684)
Non-cash interest expense, net	1,482		258
Non-cash lease expense	4,916	4,604	3,929
Loss on lease abandonment and impairment	195
Amortization of contract costs	1,426	1,280	1,009
Deferred income taxes	(7,068)	(2,724)	(444)
Allowance for expected credit losses	1,908	1,630	2,518
Gain from equity method investment	(3,657)	(3,727)	(3,106)
Loss on abandonment of assets	0	0	11,226
(Gain) loss on foreign currency remeasurement	(33,296)	9,238	(5,571)
Changes in operating assets and liabilities
Effect of business combinations	(4,399)
Accounts receivable	(44,296)	(15,860)	(32,489)
Contract assets	(26,726)	8,170	1,610
Prepaid expenses	(30,923)	(101)	(8,643)
Other current assets	(5,998)	(754)	1,156
Other assets	(1,475)	(1,014)	(1,495)
Accounts payable	75,585	(20,718)	22,065
Accrued expenses	31,345	22,841	(3,513)
Deferred revenue	23,711	27,603	906
Other current liabilities	2,021	(4,727)	(1,936)
Operating lease liabilities	(3,342)	(4,727)	(3,672)
Other liabilities			916
Net cash provided by operating activities	86,395	81,861	14,876
Cash flows from investing activities:
Purchases of property and equipment	(21,851)	(12,293)	(3,569)
Capitalization of internally developed software costs	(56,967)	(51,963)	(44,158)
Distributions from equity method investments	2,787	1,561	1,555
Purchases of intangible assets	(2,076)		(1,416)
Acquisition of business, net of cash acquired	(14,841)
Proceeds from disposal of assets	40	10	18
Net cash used in investing activities	(92,908)	(62,685)	(47,570)
Cash flows from financing activities:
Proceeds from issuance of common shares, net of equity issuance costs	144,000
Repayment of loans and mortgage	(21)	(22)	(21)
Proceeds from exercise of Public Warrants			6,812
Repayment of promissory notes		(7,575)	(7,387)
Net cash provided by (used in) financing activities	143,979	(7,597)	(596)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	7,854	(2,133)	63
Net increase (decrease) in cash, cash equivalents and restricted cash	145,320	9,446	(33,227)
Cash, cash equivalents and restricted cash at beginning of period	135,239	125,793	159,020
Cash, cash equivalents and restricted cash at end of period	280,559	135,239	125,793
Supplemental disclosure of cash activities:
Cash paid during the period for interest	3,967	1,224	8
Cash paid during the period for income taxes	$ 4,606	$ 2,478	4,490
Supplemental disclosure of noncash investing and financing activities:
Acquisition of common shares by subsidiary in connection with warrant redemptions			17,653
Issuance of common stock in connection with business combinations			$ 10,157

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 280,559	$ 110,213
Restricted cash, current		25,026
Accounts receivable, net	130,340	85,491
Contract assets	57,358	30,632
Prepaid expenses	66,150	27,333
Other current assets	15,276	9,902
Total current assets	549,683	288,597
Property and equipment, net	32,322	19,016
Intangible assets, net	144,203	115,539
Operating lease right-of-use assets	28,321	7,488
Goodwill	338,049	326,011
Deferred tax asset	1,643	1,192
Investments	32,585	31,717
Other assets	3,481	2,706
Total assets	1,130,287	792,266
Current liabilities:
Accounts payable	112,246	36,661
Accrued expenses	118,017	79,172
Deferred revenue	97,098	73,388
Current debt		19
Operating lease liabilities, current	5,024	3,003
Other current liabilities	20,498	9,327
Total current liabilities	352,883	201,570
Deferred tax liability	7,186	13,802
Operating lease liabilities, non-current	25,471	4,489
Other liabilities	20,272	0
Total liabilities	405,812	219,861
Commitments and contingencies (Note 21)
Shareholders' deficit
Additional paid-in capital	1,992,257	1,700,065
Treasury stock, at cost, 4,105,948 shares at December 31, 2025 and December 31, 2024	(17,653)	(17,653)
Accumulated deficit	(1,199,108)	(1,087,527)
Accumulated other comprehensive loss	(53,526)	(24,635)
Total shareholders' equity	724,475	572,405
Total liabilities and shareholders' equity	1,130,287	792,266
Common Class B [Member]
Shareholders' deficit
Common shares, Value	1	2
Common Stock Other Than B Shares [Member]
Shareholders' deficit
Common shares, Value	$ 2,504	$ 2,153