Genius Sports, the international sports data technology company, has today announced a substantial 75% year-over-year increase in revenue to $262.7 million for the 2021 financial period.

The figure, which covers the full year ended December 31, 2021, represents a huge $113 million jump from the $149.7 million the company generated in 2020.

Genius attributed this to “strong growth across all product lines”.

The significant rise was driven largely by exponential growth in its sports technology and services division, which saw revenues rise by 131.7% to $37.2 million.

The division provides production and live-streaming solutions for both broadcasters and rightsholders.

Genius put the major uplift down to “the inclusion of revenues derived from recent acquisitions, Sportzcast and Second Spectrum, and supported by expanded services provided to existing sports league and federations across all tiers of sport.”

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The group’s media technology, content, and services division also posted a substantial triple-digit revenue increase of 109.6% to $48.3 million.

The firm said this was driven “by the acquisition of new customers in the Americas and Europe, primarily for programmatic advertising services, and the inclusion of revenues from recent acquisitions.”

Genius’ other business segment – betting technology, content, and services – generated a double-digit increase of 60.2% to $177.2 million, which it put down to “growth in business with existing customers resulting from the company’s official data rights strategy, expansion of value-add services, and new service offerings.” 

This division is responsible for distributing and selling the betting data rights of sports leagues and federations worldwide, to betting operators.

In the fourth quarter of the year, Genius’ revenue increased 78.7% year-over-year to a record $84 million, up from $47 million in the previous year.

Earnings before interest, tax, depreciation, and amortization (EBITDA) was down by 91.1% during 2021, from $17.5 million to $1.5 million.

Genius projects to generate revenue of approximately $340 million in 2022 and in the range of $430 million to $440 million in 2023.

This year’s fiscal results is Genius’ second as a publicly-traded company after it listed on the New York Stock Exchange in April 2021 following a merger with a special purpose acquisition company.

The firm first announced it intended to go public in October 2020, in a $1.5 billion deal with dMY Technology.

Last April, after the period assessed by the financial results, Genius consolidated its different divisions – in betting, media, and technology – into one all-encompassing brand, in preparation for the IPO. It also agreed a deal for 22.5 million of its shares (worth close to $450 million) to go to the investment wing of American football’s NFL.

Founded in 2000, Genius has experience working with more than 500 sports organizations and leagues, including the NFL, soccer’s FIFA and English Premier League, basketball’s NBA, Euroleague and FIBA, baseball’s MLB, motor racing’s NASCAR, and US golf’s PGA Tour.

Over the course of the last year, Genius has also entered into partnerships with the Canadian Football League, the Icelandic Club Association and Icelandic Football Association, and the European Volleyball Confederation.

In addition, it has expanded its tie-ups with betting brands FanDuel, Bet365, and Betway, as well as signed new deals with DraftKings and Caesars.

Mark Locke, Genius Group’s chief executive, said: “2021 was a transformational year that saw Genius form innovative new relationships with leagues, sportsbooks, and brands alike, which allowed us to deliver record group revenue in the fourth quarter.

“We are confident that 2022 will be another strong and profitable year as we capitalize on the growth opportunities ahead and continue to expand our services around the world.”