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A.History and Development of the Company
The legal name of the Company is Genius Sports Limited. The Company was incorporated under the laws of Guernsey as a non-cellular company limited by shares on October 21, 2020. The Company’s registered address in Guernsey is Redwood House, St. Julian's Avenue, St. Peter Port, Guernsey, GY1 1WA. The address of the principal executive office of the Company is Genius Sports Group, 1st Floor, 27 Soho Square, London, England, W1D 3QR, and the telephone number of the Company is +44 (0) 20 7851 4060. The name and address of our US agent is Puglisi & Associates, 850 Library Avenue #204 Newark, Delaware 19711 and the telephone number of Puglisi & Associates is +1 (302) 738-6680.
The website address of the Company is http://www.geniussports.com. The information contained on the website does not form a part of, and is not incorporated by reference into, this Report. The SEC also maintains a website at http://www.sec.gov that contains reports and other information that the Company files with or furnishes electronically to the SEC.
For information on our principal capital expenditures, see Item 4.B “Business Overview—Research and Development” and Item 5 “Operating and Financial Review and Prospects—Liquidity and Capital Resources.”
Recent Developments
Legend Acquisition
As announced on February 5, 2026, we entered into the Legend Share Purchase Agreement to acquire Legend, a global, digital sports and gaming media network built to monetize attention. The consideration for the Legend Acquisition is valued at up to $1.2 billion and includes $900 million payable at closing (comprising $800 million in cash and $100 million in stock consideration) and an earnout of up to $300 million split evenly across two years post-closing. The earnout is tied to the achievement of certain profitability and cash flow thresholds and is payable in cash or stock, at Genius’ election, subject to customary conditions. The Legend Acquisition is expected to accelerate our strategic and financial objectives, supercharge fan monetization, and help build a fully integrated sports and gaming media network for our customers. The Legend Acquisition is expected to be completed in the second quarter of 2026, subject to the satisfaction of customary closing conditions, including, among other things, the expiration or termination of the waiting period pursuant to the Hart-Scott Rodino Act. For more information, see Note 24 “Subsequent Events” to the consolidated financial statements included in Item 18 of this Report.
Financing Commitment
On February 5, 2026, in connection with the execution of the Legend Share Purchase Agreement, Genius entered into a commitment letter with Goldman Sachs Bank USA, Deutsche Bank AG New York Branch and Deutsche Bank Securities Inc. (the “Commitment Parties”), pursuant to which the Commitment Parties have committed to provide, subject to the satisfaction of customary closing conditions, a senior secured term loan facility in an amount up to $850 million (“Term Loan B”) and senior secured revolving credit facility in an amount up to $220 million, in an aggregate principal amount of up to $1.07 billion. Genius expects to fund a portion of the cash consideration for the Legend Acquisition at closing with proceeds from the Term Loan B.
B.Business Overview
The following discussion reflects the business of Genius. The “Company,” the “Business,” “we,” “us” or “our” generally refers to Genius Sports Group.
Overview
Genius is a B2B provider of scalable, technology-led products and services to the sports, sports betting and sports media industries. Genius is a fast-growing business with significant scale, distribution and an expanding addressable market and opportunity.
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Genius’ mission is to be the operating system of modern sport, powering the global ecosystem that connects sports, betting and media with every fan around the globe. In doing so, the Company creates engaging and immersive fan experiences, advertising services, performance analysis tools, and officiating solutions, while simultaneously providing sports leagues with reliable and sustainable revenue streams.
Genius also sits at the heart of the global sports betting ecosystem where the Company has deep, critical relationships with over 400 sports leagues and federations, over 550 sportsbook brands and over 250 marketing customers (which includes some of the aforementioned sportsbook brands). The following are examples of services Genius provides its partners globally:
•Sports Leagues: Genius provides the technology infrastructure for the collection, integration and distribution of live optical tracking, event data and video that is essential to running a league’s operations efficiently, increasing fan engagement and generating meaningful revenue streams. Genius also works alongside leagues to protect the integrity of their competitions from the threat of match-fixing through global bet monitoring technology, online and offline education services, and consultancy services including integrity audits and investigations.
•Sportsbooks: Genius’ technology, content and services allow sportsbook operators to outsource selected core, but resource-heavy, functions necessary to run their business. This includes the collection of live sports data, oddsmaking, risk management and player marketing, as well as BetVision, a fully interactive watch-and-bet experience contained within a single screen.
•Sports Content Owners: Genius partners with sports properties, broadcasters, streamers and other content owners to supply broadcast enhancements. This includes alternative broadcasts which integrate optical tracking data and graphic overlays in real-time to augment live footage with statistical insights and visual content such as shot probabilities, running speeds and more.
•Advertisers: Genius works with brands and agencies, both from the gaming and non-gaming sectors, to provide a range of advertising and fan engagement tools that harness the power of sport to drive brand awareness, as well as customer acquisition and retention.
What Genius Does
Genius Sports is the official data, technology and broadcast partner that powers the global sports, betting and media ecosystem. Genius Sports is well-positioned through AI, computer vision and big data to power the future of sports fan experiences. From delivering augmented broadcasts and enhanced highlights, to automated officiating tools, immersive betting solutions and personalized marketing activations, we connect the entire sports value chain from the rights holder all the way through to the fan. In doing so, Genius Sports utilizes its end-to-end technology platform to monetize sports fans across the entire ecosystem through a wide range of products.
GeniusIQ, our AI and data layer, sits at the heart of this ecosystem. Powered by an in-venue computer vision capture system, which we believe is the most advanced machine learning in sports, we believe GeniusIQ captures the richest, deepest sports data set ever produced, in near real-time. This tracking data - specifically mesh tracking data - underpins an almost endless suite of solutions for our partners with one overarching goal in mind: to make sports even better for fans.
In the sports wagering sector, the collection of high-quality, live sports data has become indispensable for sportsbooks as in-game betting has continued to grow rapidly across the world. In mature markets such as the UK, major sportsbooks have historically reported that in-game betting currently represents the majority of Gross Gaming Revenue (“GGR”), which represents the difference between the amount of money players wager and the amount that they win, making it a critical offering for all sportsbooks. In-game betting typically increases in popularity as markets mature, and this is playing out as expected in the US, where we believe in-game generated revenues will continue to increase as a percentage of GGR.
Genius’ live data services, alongside other value-add solutions, are deeply integrated into over 550 sportsbook brands worldwide. None of these sportsbooks currently take Genius’ entire product offering and so these integrations provide a clear runway for future growth. Genius provides customized solutions depending on its customers’ requirements, ranging from supplying live data feeds, in-game oddsmaking and risk management, to managing a sportsbook’s entire back-end operation. Genius customers include global sportsbook brands such as bet365, DraftKings, Flutter (including FanDuel), Entain and Fanatics, as well as leading B2B gaming technology platform providers such as OpenBet and Kambi.
In order to supply sportsbooks with a sufficient volume of sports data, Genius has built a broad portfolio that covers over 400,000 events, and over 206,000 events under official data and/or streaming rights agreements (of which approximately 119,000 are exclusive). This includes official data and trading for leagues such as the EPL and the NFL, as well as many other competitions that are popular with bettors globally. Due to the need for sportsbooks to provide their customers with deep betting markets and content at all times of the day, Genius believes that its critical mass of events is vital to the operation of these companies.
Genius has established long-term, mutually beneficial relationships with sports leagues and federations and has acquired the rights to collect and monetize their data. Genius utilizes a network of more than 7,500 highly trained statisticians across over 140 countries who work on the ground, pitch-side and courtside, to capture data in real-time using Genius software.
In exchange for these sports data rights, for the majority of Genius’ league partners, the Company provides vital technology and infrastructure solutions. This begins with the implementation of GeniusIQ - a single intelligent system that provides the foundations for greater
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efficiencies and innovations across their ecosystem. GeniusIQ automates the capture of tracking and event data, broadcast-quality, automated video, and 3D recreation capabilities, all of which power market leading performance analysis tools, semi-automated officiating services, real-time broadcast enhancements and content creation, and immersive betting products.
For hundreds of other league partners, Genius provides leading manual data collection tools, as well as competition management software, scoreboard technology, athlete registration, fan-facing websites, fan engagement tools, and coaching analysis software. The integration of sports leagues and robust human infrastructure gives Genius a highly diversified rights portfolio and deep competitive position.
Genius’ technology and services extend beyond the symbiotic sports data—sports betting relationship.
In the fan engagement and advertising space, Genius provides a wide range of technology and services to both betting and non-betting businesses to help them reach sports fans in the right moment, with the right message. Genius’ understanding of what happens on the field, pitch, or court, alongside its understanding of how fans behave and access to unique advertising inventory, helps create a powerful range of services for advertisers to grow their brand and acquire customers. Spanning social, programmatic and augmented broadcast inventory, Genius enables brands to own high-impact sporting moments by using official game data feeds to trigger contextual campaign creative on behalf of advertisers.
Genius' broadcast augmentation technology transforms sports viewing in real-time, providing rightsholders and broadcasters with the ability to engage fans with new ways to experience the game. This includes enhanced broadcasts featuring real-time visual insights, as well as fully alternative broadcasts, creating a parallel broadcast aimed at specific cohorts of sports fans. These unique broadcast experiences empower leagues to offer greater levels of fan engagement, while simultaneously unlocking new potential revenue streams through sponsor activation. The Company also provides sportsbooks, leagues, teams and brands with digital engagement tools, primarily in the form of gamification, to help capture monetizable audience data, activate sponsorships and strengthen long-term engagement.
Company Background
The Company was co-founded by the current Chief Executive Officer, Mark Locke, as a software company which specialized in aggregating sports betting data. It then evolved into providing outsourced oddsmaking solutions to sportsbooks. The Company then expanded into a software provider to sports and media technology companies and, in 2015, Genius Sports Group was formed.
With a growing portfolio of betting customers that were driving increasingly large volumes of in-game bets, the Company and its leadership team realized the importance of live sports data and began to develop the technology that would enable Genius to own and control the entire value chain, from live data collection to pre-game and in-game oddsmaking. As of the date of this Report, Genius has invested more than $330 million in building out its full suite of proprietary technology and software solutions.
In 2021, following the Listing, Genius made acquisitions totaling more than $250 million on proprietary technology such as Second Spectrum, FanHub, and Spirable to complement its existing core business. Second Spectrum was an optical tracking solution that uses computer vision and machine learning to generate performance data, analytics, insights, and visualization solutions for major sports leagues such as the NFL, NBA, EPL, and NCAA. FanHub and Spirable provided Genius with additional capabilities that complement Genius’ sports advertising and fan engagement capabilities. FanHub was a market leader in free to play games such as fantasy, trivia, and contests, which allow sports leagues, media companies, and sportsbooks to engage casual sports fans. Spirable was an automated content creation platform that uses live sports data and audience data to create, distribute, and optimize personalized video at scale. All three acquired businesses have been fully integrated into Genius.
In September 2025, Genius acquired Sports Innovation Lab, the leader in sports fan data. The acquisition accelerated the expansion of Genius Sports’ media business, combining comprehensive official game data with deep fan intelligence, unlocking privacy-compliant, permissioned data sets covering approximately 250 million adult consumers in the United States. This combination creates most comprehensive fan database in sports and entertainment, tracking billions of annual transactions, including purchases, attendance, and viewership, all within privacy, consumer protection, and data security obligations. It enables brands and agencies to accurately target fans, directly connect campaigns to real behaviors and transactions, and deliver measurable ROI across every channel.
Genius is the Global Leader in Official Data Rights
Official data as it pertains to sports betting is the feed of live statistics that is sanctioned by sports rights holders, typically sports leagues and federations, and used to create betting markets, update odds in real-time, and settle bets accurately and timely. The Company believes that as the global sports betting industry, especially in-game betting, is expected to grow, the reliance on high-quality data is similarly expected to increase over time. Further, the Company believes that the continued adoption of official data by the market means that Genius’ technology and relationships will be critical to capturing and capitalizing on this trend.
The Company believes that:
•official data is critical to sports, as it serves as a means for rights holders to monetize their data;
•official data is critical to sportsbooks, as only official data provides guaranteed access to the fast and reliable data necessary for in-game betting; and
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•official data is critical to regulators, as it is legally compliant and an independent source of truth that protects consumers.
Genius’ existing portfolio of official data includes some of the most valuable sports rights, including to the NFL, EPL, Serie A, NCAA, and FIBA. Genius continues to identify and strategically acquire additional sports rights that are expected to generate a positive return and create value for Genius’ shareholders.
Genius classifies sports and the associated rights as Tiers 1 through 4. Sports rights classified as Tier 1 are those from leagues with global name recognition, typically acquired through a wide-scale strategic partnership spanning multiple touch points of Genius' products and technology. Tier 1 rights will frequently have rights fees associated with them as well. Sports rights that are not classified as Tier 1 are typically from regional leagues. These non-Tier 1 rights are typically acquired by Genius through a "contra" model in which Genius secures long-term agreements with the respective leagues in exchange for Genius’ technology and software solutions (and occasionally de minimis cash fees). This allows the Company to develop mutually beneficial partnerships with leagues globally and integrate Genius’ technology and services into each league’s operations. It is notable that while non-Tier 1 sports are typically smaller leagues that are less popular at a global level, they are very popular in their local countries or regions and often have large, dedicated fan bases.
Taking this dual approach to Tier 1 and non-Tier 1 rights respectively is unique and beneficial for several reasons. The low cost contra strategy in the non-Tier 1 sports helps mitigate the risk of rights inflation for this content while also helping to lock in sports with strong future potential value into long-term deals. The Company believes that these tiers facilitate the vital content a sportsbook needs to be competitive at all times. Furthermore, this approach gives Genius the fiscal flexibility to be competitive for Tier 1 rights when it believes they will be strategically accretive to its portfolio.
Through its first-of-its-kind interactive betting platform, BetVision, Genius Sports also has the ability to monetize video rights. As the first truly integrated watch-and-bet experience in the market, delivering ultra-low latency streams for the likes of the NFL, Serie A and hundreds of other basketball and soccer matches. This now totals in excess of 20,000 events a year.
The Company has over 50,000 streaming rights under official rights.
The Sports Betting Industry and Genius’ Opportunity
The Growing Global Sports Betting Market
Genius operates within the global sports betting industry. H2 Gambling Capital projects that the industry’s GGR will grow from $123 billion in 2025 to $186 billion by 2030. See Item 4.B “Business Overview—The Sports Betting Industry and Genius’ Opportunity.” Genius believes its industry-leading product offerings, strong technology platform, data integrity and established brand make it a partner of choice for many professional sports organizations and sportsbooks. Despite uncertainties related to future costs of acquiring official or exclusive rights to sports data, Genius believes that substantial barriers to entry are likely to favor its business model. Genius’ bespoke technology, developed over time specifically for (and embedded within the operating environment of) its sports league partners, would be difficult for most competitors to replicate.
Genius’ growth prospects also depend in part on continuing legalization of sports betting across the globe, for example in the US. As of year-end 2025, 40 US states, including Washington, DC for these purposes, have passed measures to legalize sports betting, of which 40 states have launched active sports betting industries with 31 states allowing mobile sports betting. H2 Gambling Capital projects that the US sports betting market will generate an estimated $35 billion in GGR in 2030, up from an estimated $19 billion in 2025. Genius is permitted to supply its services in 35 states, provinces and territories in North America and intends to obtain licenses in other states as the legalization continues. Genius’ core European market is also expected to grow, as certain countries remain in the early stages of liberalization and proliferation of sports betting. H2 Gambling Capital projects that the European sports betting market will generate an estimated $67 billion in GGR in 2030 up from an estimated $46 billion in 2025.
The process of securing the necessary licenses or partnerships to operate in any given jurisdiction may cost more and/or take longer than Genius anticipates. Further, legislative or regulatory restrictions, the cost of data rights to sports that are popular in a certain region, and betting and other taxes may make it less attractive or more difficult for Genius to successfully do business in a particular jurisdiction.
Genius’ wide-ranging, well-embedded role across the sports betting industry means that the Company generates revenue regardless of which operators take market share within any given jurisdiction. Genius’ revenue share model also gives it upside exposure as its customers' grow and expand. Sports betting helps leagues create exciting and memorable moments for their fans. In-game sports betting is an engaging type of sports betting experience and adds another layer of connection for fans as they watch the action unfold in real time. As sports betting markets mature, in-game betting typically increases in popularity and eventually represents the majority of both bets placed and GGR.
Given the nature of the sports betting data market, where sportsbook operator expenditure on data is mainly driven by in-game data consumption, this is a tailwind that Genius is well-positioned to capitalize on given its strong focus on expanding its portfolio of rights and the focus on official live data.
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Furthermore, Genius believes its position in the sports data value chain and ability to continually and effectively upsell on betting content, services and product innovations will allow the Company to increase its share of customers over time. This includes several end-user engagement solutions, including BetVision and ad-tech products, which Genius expects to become a larger part of its business in the future.
The growing sports advertising market
Genius believes that there is an opportunity to significantly grow its TAM as it expands into the sports advertising market. Digital ad spend passed $700 billion in 2025, and global spend on live, contextual sports advertising continues to grow. This growing investment in sports advertising creates an opportunity to expand Genius’ total addressable market by providing technology that supports the planning, activation and measurement of live, contextual sports advertising across digital channels.
Sports remains one of the largest sources of live viewership, but fan behavior has evolved into a multi-screen, interactive experience that spans live viewing, social engagement, fantasy and other real-time participation. These audiences are attractive to advertisers due to higher-than-average spending across categories such as retail, streaming and entertainment, while the fragmentation of viewing environments makes them harder to reach with precision and to measure consistently across platforms.
Genius is seeking to address these challenges through data and technology designed for live, contextual sports advertising. GeniusIQ captures real-time game intelligence at scale, and FanHub is intended to translate those live signals into advertising applications that support planning, activation and measurement. FanHub ID is designed to provide a privacy-conscious identity framework that links signals across devices and experiences, enabling audience definition and activation that can adapt as fan interest shifts across sports, leagues, and storylines.
Genius also develops and commercializes advertising inventory formats integrated into live sports experiences, including augmented advertising placements within broadcasts and highlights, as well as immersive viewing environments such as BetVision. The media business is monetized through managed spend arrangements, under which the company operates campaigns on behalf of advertisers and recognizes revenue on a gross basis, and self-serve packages, under which advertisers purchase curated combinations of audience data, live signals and premium inventory activated through existing buying platforms, with revenue recognized on a net basis and expected high incremental margins due to the software-based nature of delivery.
Advantages of Scale
Genius believes that its scale creates meaningful competitive advantages. The human infrastructure the Company has built, with approximately 2,700 staff and access to a network of more than 7,500 trained statisticians and agents worldwide, provides scale enabling Genius to better serve its customers.
The broad portfolio of events Genius offers is enabled by its technological expertise and deep relationships and integrations with sports leagues. Building this portfolio has taken many years and requires a deep understanding of each sport league’s technical and strategic requirements, along with developing bespoke technology to meet those requirements. For example, Genius developed technology for basketball leagues that is used by more than 180 leagues in 100 countries around the world, equating to more than 80% of all organized basketball competitions.
To gain access to Genius’ sports betting services, such as live sports data feeds or outsourced oddsmaking, sportsbooks must integrate their back-office systems with Genius’ proprietary technology. This technology and the managed services provided by Genius drives the sportsbook’s consumer facing offering – from the events they offer on their site to the odds on those events. This makes Genius’ technology a core and critical part of every customer’s operation on a day-to-day basis.
Core Strengths
•GeniusIQ: Genius' proprietary technology stack is underpinned by GeniusIQ, a single, connected data and artificial intelligence platform. Using computer vision, machine learning and AI, GeniusIQ captures and interprets live sports action through a proprietary in-venue optical tracking infrastructure, generating highly granular, real-time data, insights and video. This foundational platform supports a wide range of applications across performance analysis, officiating, sports betting, broadcast enhancement and fan engagement. These applications are utilized by leading leagues, teams, broadcasters, advertisers and sportsbooks worldwide. By operating a single, scalable platform that enables multiple products and use cases, GeniusIQ enhances the Company's competitive advantages, strengthens its long-term partner relationships and creates multiple monetization opportunities across the global sports ecosystem.
•The largest portfolio of official betting data: The combination of greater numbers of sports leagues taking control over their data assets and rapid growth of in-game betting makes official data both increasingly valuable and harder to acquire. The scale of Genius’ portfolio, built up over more than a decade, puts it at the very forefront of this trend and is a key differentiator from its main competitor.
•Market-leading data and technology: Genius’ currency is real-time data. Its value is derived from the Company’s ability to capture, process and distribute vast volumes of data points in milliseconds, which requires highly robust technology alongside machine learning and complex analytics capabilities. Genius’ core systems are highly scalable to support ongoing growth in
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customers, sports event coverage, and volume of bet types. The Company’s technology framework is standardized, allowing it to support multiple sports leagues at a low incremental cost to the business.
•Unique advertising tech and capabilities: Genius brings together a number of proprietary capabilities to create a competitive advantage in the sports advertising space. These capabilities enable contextual, event-driven advertising that can be activated in real time based on game moments and engagement signals, through managed and self-serve buying models. Our proprietary inventory formats include augmented advertising integrated into broadcasts and replays, as well as interactive, data-driven in-stream experiences, supporting measurable outcomes for brands and incremental monetization opportunities for rights holders and media partners.
•Good earnings visibility due to long-term contracts with a large share of recurring revenues and low customer churn: Genius holds long-term contracts with sports rights holders and has historically experienced low churn, as evidenced by recent deal extensions with Football DataCo in 2024 and NFL in 2025. Both deals run through the end of the 2029 seasons. Our sportsbook contracts, which vary in term-length between two to five years are typically structured with guaranteed minimum payments throughout the life of the term, allowing for good earnings visibility, and with upside levers and revenue share components that allow the Company to benefit as its partners grow through increased GGR, expansion into new markets, utilization of more events, and growth of in-play betting. Approximately 60% of Genius’ revenue for the year ended December, 31 2025 was from recurring revenue related to contractual minimum guarantees.
•Improved operating margins from scaled cost structure with high operating leverage: Genius benefits from significant economies of scale driven by its highly scalable technology and software architecture. Approximately 70% of the Company’s operating expenses, such as data production, trading and hosting costs, are expected to grow slower than revenues.
•World-class management team with depth of experience and track record of success: Genius is led by a highly experienced management team with a strong track record of success. The executive team has extensive experience in the global AI, sports, advertising, and gaming sectors. Management has successfully led the business to capture meaningful growth as the regulatory landscape matured in Europe over the past decade and is well positioned to capitalize on developing markets around the globe including the US and Latin America. Genius co-Founder and CEO Mark Locke is recognized as a global expert on sports technology, integrity and sports betting.
Prediction Markets
Prediction markets represent an emerging segment of event-based trading in the United States where participants take positions on the outcome of real-world events, including sporting events. In the United States, such products are operating under a regulatory framework administered by the Commodity Futures Trading Commission. Comparable products have historically operated outside the United States as betting exchange platforms. The regulatory classification and treatment of these markets in the United States remains subject to ongoing governmental and judicial review and the regulatory framework may continue to evolve.
Although regulatory treatment and terminology differ by jurisdiction, the underlying economic structure of many of these trading-style products is similar. These platforms are liquidity-driven and are typically supported by professional market makers, as well as sportsbook hedging activity and retail consumer participation. They generally operate on a commission structure and require accurate event data for pricing, trading, and settlement. In jurisdictions outside the United States where exchange-style products coexist with traditional sportsbooks, exchange-based wagering has historically represented a relatively low percentage of total wagering volume.
The emergence of prediction markets may expand the Company’s total addressable market by introducing additional participants that require official data, inventory, trading infrastructure, and related technology and other services. Certain participants in exchange style markets may require high quality data feeds, and the Company engages with participants in these markets.
Prediction market platforms may also require user acquisition, engagement, advertising and other media solutions supported by the Company’s existing product set. While the long-term regulatory framework governing prediction markets remains uncertain, particularly in the United States, the continued development of event-based trading activity, whether through traditional sportsbooks, exchange-style models or other regulated formats, may increase the relevance and usage of the Company’s data, technology and distribution capabilities.
The Genius Company Culture
The Company's purpose and values are set by our Board and are periodically reviewed by our Nominating and Corporate Governance Committee. In accordance with the principles of home country governance, we take the view that our purpose, values and strategy should be aligned and form the basis of our company culture. Accordingly, Genius’ culture is fair, ethical and performance oriented. The Company operates a clear ‘Game Plan’ and Code of Conduct setting out the company vision and values that all staff are expected to uphold. It also sets out the Company’s ‘business priorities,’ in the form of a simple set of targets for which staff can aim. These initiatives encapsulate Genius’ values as an organization, encouraging staff to operate as “One Team, Being Brave, Driving Change”.
The Company believes these initiatives are key to fostering a culture that values performance with integrity, with everyone having the chance to make their mark, and where every contribution counts.
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The Company’s success is highly dependent on human capital and a strong leadership team. Genius aims to attract, retain and develop a diverse staff with the skills, experience and potential necessary to implement its growth strategy. As part of this, emphasis is placed on the development of a ready pipeline of ‘home-grown’ management talent, supplemented, as necessary, by external hires with appropriate experience and expertise.
Genius regularly engages with staff on issues relating to its values and/or affecting the business generally through a combination of group-wide and function-specific ‘town hall’ sessions, engagement with corporate responsibility initiatives, and through other engagement platforms. Regular surveys indicate healthy staff engagement and identification with the business and highlight opportunities for further growth and development. The results of these surveys are shared with our Genius Board's Audit Committee from time-to-time.
The Company reviews and refreshes its various policies on an annual basis. The Company’s policies, procedures and training underpin a culture of integrity and ethical behavior.
The Genius Growth Strategy
Genius has multiple levers for growth across all its customer segments and product areas, covering both upsell and greenfield expansion opportunities. As mentioned, the Company works with a range of customer segments including Sports Leagues and Teams, Sportsbooks, Media including Broadcasters, and Brands. The breadth of these customer types, along with a wide-ranging set of products and services, enables growth on multiple fronts across the sports entertainment sector.
Genius’ levers for growth can be summarized as:
1.Capitalizing on the continued growth of global sports betting and achieving a fair value for live official data;
2.Development of new technology and services for sports, sportsbooks, advertisers and broadcasters;
3.Accelerating the growth of sports advertising and fan engagement solutions;
4.Developing high-ROI strategic partnerships around sports data and video rights; and
5.Strategic acquisitions and investments.
Capitalizing on the continued growth of global sports betting
•Share in existing customer growth. Typically betting customer contracts include some form of minimum commitment to Genius, whether that be revenue and/or number or quality of events utilized. However, none of these contracts provide customers with Genius’ entire product offering. Many of Genius’ customer contracts for Betting Technology, Content and Services have already built-in price escalators whereby customer revenue and product commitments grow through the term of the contract.
•Expand Genius’ presence and acquire new customers in growth markets such as the US, Canada and Latin America. Genius’ strong partnerships with sports leagues, data-driven marketing products and existing relationships with B2B sports betting platform providers give the Company a major competitive advantage in high-growth jurisdictions, including the US, Canada and Latin America. Genius is a preferred data and odds supplier to a majority of significant sportsbooks in the UK and this has translated well into new markets.
•Increase share of wallet via product upsell. Genius is constantly expanding its services to sportsbooks. For example, the Company developed and commercialized its in-game watching and bet product, BetVision in 2023, which is live with FanDuel, DraftKings, bet365, Fanatics and more in the US alone, plus hundreds more regulated operators globally. As these and other verticals grow and develop, the Company believes this will allow it to increase its share of each customer’s wallet.
•A forward-looking licensing strategy: Genius Sports holds 51 licenses, or equivalent, in North America across states, provinces, territories and tribes, and plans to be licensed in all states that legalize sports betting. Genius expects to employ a similar licensing strategy in other countries potentially liberalizing sports betting in the near future, such as Finland, Thailand and New Zealand. Genius will further benefit from GGR growth without incremental costs as new states legalize sports betting in the US and other growth markets such as Canada begin to liberalize. Each new market provides expanded distribution potential for sports and content that Genius is already covering.
•Benefit from growth of in-play betting globally: Genius’ commercial model in new markets, such as the US, positions the business to benefit from the growth of in-play betting, with higher revenue share derived from those bets vs. pre-match bets. As younger markets mature, we believe in-play betting will grow to become the majority of sportsbook revenue. We believe new products Genius have developed, such as BetVision, will accelerate the growth of in-play betting.
Development of new technology and services for sports and broadcasters
•Commercializing optical tracking and next generation sports broadcast experiences. In 2021, Genius acquired Second Spectrum, an optical tracking solution that uses computer vision, machine learning, and AI technology to generate performance data, analytics, insights, and visualization solutions for sports and broadcasters. Since its acquisition, we have successfully deployed and sold this technology to broadcasters across the NFL, NBA, EPL, and NCAA ecosystems, and we expect further
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expansion of product and customers in the future. Equally, we have deployed optical tracking solutions to build products for the sports betting space, inclusive of the launch of BetVision in 2023.
•Continued development in the breadth of Genius’ sports facing technology and services. With the roll-out of GeniusIQ - currently deployed in approximately 300 venues worldwide, the Company expects to rapidly expand the number of sports leagues it works with, as well as the number of products it offers to existing and new customers. Once GeniusIQ is installed, Genius has the opportunity to upsell a whole range of product and services on top of automated data capture and video capabilities. As described above, this includes but is not limited to officiating technology, performance analysis tools, and broadcast enhancement technology.
Accelerating growth of sports advertising and fan engagement solutions
•Expanding digital advertising business by targeting non-betting brands. Genius' advertising solutions, established in the betting and iGaming market for over a decade, are now being used by many non-betting brands to target, engage and convert sports audiences. Genius combines a deep understanding of sports fans with access to exclusive sports advertising inventory and dynamic media buying to reach fans across social and programmatic channels, including Display, Video, Connected TV ("CTV"), Audio, and Digital-Out-of-Home ("DOOH"). This also now include broadcast inventory exclusive to Genius, in the form of augmented advertising, which allows sponsors to integrate their brand contextually into the viewing experience. Recent partnerships with some of the world's biggest media agencies - including PMG, Publicis, and WPP (effective February 2026) - gives more major brands access to Genius' real-time, data-driven advertising solutions.
•Capturing a larger share of the fan engagement market. Genius helps brands and sports reach, engage and monetize sports fans through a range of media and content solutions built specifically for the sports sector. Through its Broadcast Augmentation solution, Genius is already partnering with a number of major broadcasters and content owners to enhance live broadcasts, deliver alternative broadcasts and create new broadcast inventory to activate sponsors. We expect the trend towards alternative broadcasts to increase in the future as content owners seek to differentiate their content and appeal to specific cohorts of fans.
Developing high-ROI strategic partnerships around sports data and video rights
•Continue to develop strong partnerships with sports leagues worldwide. Genius strategically acquires rights in both high-profile and non-Tier 1 sports worldwide in a way that enhances the Company’s rights portfolio and offering to sportsbooks. In non-Tier 1 sports, Genius will continue to aggressively deploy its “contra” model and acquire long-term agreements in exchange for technology and software solutions.
•Ability to capitalize on the expansion of adjacent total addressable market opportunities. As other nascent industries such as iGaming grow, we believe Genius will have the opportunity to leverage its technology and existing distribution to expand its offerings into new verticals.
•Continue to grow event utilization. Genius has historically seen strong growth in its sport events utilization as the demand for its services and its number of customers has grown. The Company expects this growth to continue, which should create stronger operating leverage through expanded distribution channels.
Strategic acquisitions and investments
•Selectively pursue strategic acquisitions and investments. Genius seeks acquisition and investment opportunities that it believes will provide long-term value to its shareholders and potentially accelerate the Company’s growth, profitability, and cash generation. While a primary area of focus is expected to be on smaller, complimentary technology companies that improve its product and technology offerings, the Company also maintains an active pipeline of larger, more transformational opportunities. For instance,
the Company recently signed a definitive agreement to acquire Legend. See “—History and Development of the Company—Recent
Developments” for more information on the Legend Acquisition.
Additionally, Genius may opportunistically seek to make minority investments in sports leagues that benefit from Genius’ full suite of services and broad distribution network.
Products and Business Model
Genius provides critical technology and services required to power the global ecosystem connecting sports, betting and media. Genius’ services are organized into three key products areas:
•Sports Technology and Services;
•Betting Technology, Content and Services; and
•Media Technology, Content and Services.
All of Genius’ products are powered by proprietary technology and robust data infrastructure.
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Sports Technology and Services
Genius builds and supplies technology and services that allow sports leagues to analyze and monetize their data and video following its collection. The Company offers a broad range of data capture technologies, ranging from applications designed for manual data input, to fully automated data collection enabled by computer vision.
For manual capture, Genius has trained statisticians globally that are highly skilled in collecting accurate, real-time data during events and matches. The data can then be repackaged and analyzed almost instantaneously and can then be used to help leagues and teams analyze real time statistics, develop coaching tools, and support broadcast partners. It is this same data that Genius also uses to power its Betting Content and Services.
Genius believes that over time, increasing numbers of sports leagues will recognize the benefits of automated data capture as a compliment or replacement for manual input. Through its data and AI platform, GeniusIQ, Genius harnesses computer vision and machine learning to simultaneously monitor and compute every play within a sports game to capture billions of high-fidelity data points in real-time. GeniusIQ also enables the creation of "mesh" tracking data. Mesh tracking data captures highly detailed data points for the entire surface areas of every player and ball. This facilitates the creation of ultra-rich 3D environments which in turn powers advanced performance analysis tools for sports teams and automated officiating technology for leagues.
Genius' suite of performance analysis tools are used by every NBA team and the majority of EPL teams. This software automatically synchronizes event data, tracking data and multi-angle video to give coaches faster, high-dimension video analysis and more efficient workflows.
In 2024, the Company's GeniusIQ-powered Semi-Automated Offside Technology ("SAOT") was selected by the EPL as its chosen technology provider for officiating offside decisions. It has since been selected by top-tier global soccer organizations including the Belgian Pro League and Confederação Brasileira de Futebol (“CBF”) for its Brasileiro Série A and Copa do Brasil competitions. The system is built on the key principles of speed and precision to minimize breaks in the game and deliver accuracy for a better fan experience.
For broadcasters, data derived from our optical tracking technology enables the real-time creation of alternative feeds, featuring statistical content and graphic overlays. This not only enables new levels of live analysis but also creates new forms of engagement for the next generation of fans, which leads to more personalized activation opportunities for sponsors and commercial partners. A recent example is the "Madden NFL Cast", a collaboration between NBC Sports, Peacock, the NFL, EA SPORTS, and Genius, to create an immersive, data-powered live football experience using Madden NFL’s unique brand elements as animated overlays.
Another recent example is a collaboration with NBA 2K and TNT Sports to create an immersive NBA 2K25 DataCast viewing experience on truTV and Max. This alternative telecast was made available during all of TNT Sports’ 2024 Emirates NBA Cup Quarterfinals and Semifinal live game coverage, blending visuals from the NBA 2K video game into the real NBA experience.
Genius also develops additional tools that help sports leagues deepen fan engagement. These include automated creation of fan-facing websites, social media content, and statistical content such as team and player standings that are updated in real time.
Genius’ streaming solution provides the technology, automatic production and distribution needed by sports to commercialize video footage of their games. This is particularly useful for non-Tier 1 sports leagues that lack the capabilities or resources to develop their own live streaming solutions.
Genius also provides end-to-end Integrity Services to sports leagues and is the trusted integrity partner for over 140 sports leagues worldwide.
Integrity Services range from full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, to a full suite of online and offline educational and consultancy services. The technology and services provided to sports leagues are typically provided on a contra basis in return for access to live sports data for commercialization in betting and media. In some cases, sports leagues also pay fees for licensing the technology.
Betting Technology, Content and Services
Genius supplies the technology, content and services that powers global sportsbooks. Sportsbooks can outsource as much or as little of these capabilities as necessary depending on their requirements. Genius’ offering includes:
•Live sports data: Fast and reliable feeds of live match data, the majority of which are delivered direct from stadiums around the world in under a second using Genius technology. These real-time data points allow sportsbooks to create odds for in-game betting markets on over 400,000 events per year.
•Pre-game and in-game odds feeds: A combination of automated oddsmaking powered by unique mathematic algorithms, a specialist trading team, and robust technology, enables Genius to manage the full sports betting lifecycle on behalf of its sportsbook customers. This includes creating events, setting odds and managing them in real-time as the game unfolds, and settling betting markets so that sportsbooks can update their users’ accounts. Configuration by the customer within Genius’ backend system enables sportsbooks to create a bespoke experience for their userbase.
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•BetVision: Genius has also launched a first-of-its-kind immersive live streaming solution in partnership with the NFL called BetVision (pictured below), an interactive single-screen live streaming product that includes an integrated bet slip, real-time team and player statistics, and personalized, augmented viewing modes.
•Risk management services: Genius offers real-time management of all sportsbook liabilities, including customer profiling, monitoring of incoming bets, automated acceptance and rejection of bets, and limit setting. Risk management is a vital part of a sportsbook’s operation because it protects its profitability.
•Live streaming: Thousands of official live streams, which are acquired via Genius’ official partnerships with Tier 2 through 4 sports leagues, many of which are captured at courtside and pitch-side around the world using Genius technology. This service is designed to boost betting appeal and drive sportsbook handle at off-peak times, in a cost-efficient manner when compared to Tier 1 streaming content.
These services are provided to sportsbooks under long-term contracts. In each of these contracts the sportsbook makes a commitment to Genius regarding what services and/or what sports events they will use Genius’ products and services for. The business model is either revenue share, where Genius receives a share of customer net gaming revenue or GGR, or a usage-based license fee model.
Media Technology, Content and Services
Genius builds and supplies technology that helps brands reach, engage and monetize sports fans in a highly cost-effective manner. These partners include sportsbooks, online and brick and mortar gaming operators, sports leagues and other non-gaming brands that target sports fans. The combination of sports audience data, and the tools for brands to grow their own database of fans, along with engaging campaign creative and content, help marketing teams effectively and efficiently target sports audiences.
Through its proprietary advertising platform, FanHub, Genius provides services such as the creation, delivery and optimization of digital marketing campaigns, including data-driven personalized ad creative and programmatic media buying. Offered as a fully-managed or self-service solution, FanHub is an advertising solution built specifically with sports audiences in mind. Through the platform, marketing teams can access exclusive audiences of sports fans and premium digital sports inventory in order to accurately and efficiently target fans. The platform's omni-channel media buying capability executes campaigns across social and programmatic channels, including Display, Video, CTV, Audio, and DOOH. FanHub also offers a full dynamic creative optimization product that integrates play-by-play data and fan preferences for real-time campaign relevance and personalization.
Genius also provides consumer insights and fan intelligence services through Sports Innovation Lab ("SIL"), acquired in 2025. SIL maintains a proprietary database and analytics platform focused on sports fan behavior, preferences, and engagement patterns. Through digital interactions, and aggregated consumer data, SIL enables sports organizations, brands, and media companies to analyze fan demographics, segment audiences, and develop targeted marketing strategies. SIL's services are provided primarily through license-based platform access and custom research engagements.
For brands and media, Genius also offers a range of digital content and gamification solutions. A range of free-to-play games, quizzes and polls help these customers engage sports fans while simultaneously capturing valuable audience data, which in turns enables more personalized marketing strategies. Genius develops fan engagement widgets for digital publishers, featuring live game statistics and betting-related content that drive traffic to sportsbooks. This helps unlock alternative revenue streams for digital content developers and sports betting affiliate programs.
Awards
Over the past decade, Genius has consistently been recognized as a leader in its field with a host of industry awards. By way of example:
In 2023, Genius won various awards for its sports betting solutions, including Sports Betting Supplier of the Year at the EGR North America Awards, Best Live Betting Product at the SBC Awards, and Acquisition & Retention Partner of the Year at the SBC Latin America Awards. Genius was also named Data Service Provider of the Year at the American Gambling Awards. In sports, Genius’ NCAA LiveStats solution was named Best Technology for College Sports at the annual Sports Technology Awards and Best Integration at the sports integrity-focused Clue Awards. Genius also won a Sports Emmy in the Interactive Experience category, alongside an NBA Award for NBA Team Innovation of the Year.
In 2024, Genius won Best Use of Technology at the Hashtag Sports Awards for its work powering data-driven broadcasts. In the sports betting sector Genius won a number of EGR Awards including Sports Data Supplier, Live Streaming Supplier, Acquisition & Retention Partner and Freeplay Gaming Supplier of the Year. It also won an SBC's Industry Innovation of the Year for BetVision.
In 2025, Genius won the Best Use of AI at the SportsPro Media Awards, Best Technology for Sports Performance at the Sports Technology Awards, and Betting Product of the Year at the American Gambling Awards.
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Representative Customers and Partnerships
Whether they are sports organizations or sportsbooks, Genius enjoys deep and long-term relationships with its customers rooted in the provision of mission critical technology, live data, or services that are fundamental to its partners’ success. The nature of these partnerships creates a deep technological connection and dependence, leading to very low customer churn rates.
Genius has over 400 sports league partners, including:
•Globally recognized leagues such as the NFL, EPL, NBA, WNBA, NCAA, FIBA, FIFA, the Professional Golfers' Association of America ("PGA") Tour and Ryder Cup; and
•Numerous other regional and lower tier league divisions across various sports such as basketball, soccer, ice hockey and volleyball.
Genius has relationships with over 550 sportsbook brand customers, including:
•Global sportsbooks such as: FanDuel, Betfair, Paddy Power, Sisal, Sportsbet, and Sky Bet (all Flutter); BetMGM, Ladbrokes, Coral, Bwin, and SuperSport (all Entain); DraftKings, Fanatics, bet365, 888/William Hill (both Evoke), Betsson, Betway; and
•Leading B2B platform providers such as OpenBet, Altenar, Pragmatic Play, and Kambi.
Genius has over 250 media and advertising customers, including:
•Recognized leading US gaming brands such as FanDuel, DraftKings, BetFanatics, BetMGM, and Caesars;
•A wide range of sports betting and iGaming brands in Europe and Africa, including Bet365, Mr Vegas and SuperBet;
•Relationships with the world's largest media agencies, including PMG, Publicis and WPP (effective February 2026);
•A wide range of brands globally including Diageo, Dr. Pepper, Pepsi, Heineken, Bayer, Stellantis (Jeep/Dodge), LVMH, and Buffalo Wild Wings;
•Major global media organizations and broadcasters, such as ESPN, CBS, FanDuel Sports Network, Premier League Productions, TNT Sports, NBA League Pass, NFL+ and TSN, to which Genius helps drive fan engagement through AI-powered video augmentation; and
•Sports properties including the NFL and NFL Teams including the LA Rams, and Major League Baseball teams including the LA Dodgers, the Houston Astros and the San Diego Padres, that Genius helps target fans through its fan engagement and digital advertising solutions.
Genius Technology
Innovation is fundamental to the culture at Genius. The Company’s technical teams have a deep understanding of sports, how they interact with fans online, and the data that is critical to driving value through the ecosystem. Sports are fast-paced and dynamic, and technology must keep up. Our teams develop products with the speed, accuracy, scalability, reliability, and flexibility to meet the expectations of passionate and demanding fans.
Teams are allocated responsibility for specific systems and use Agile development methodologies to deliver through an iterative, continuous software delivery life cycle. Teams are also responsible for technically operating the systems that they develop, which involves monitoring and supporting production systems, on-boarding new customers, and scaling systems to meet commercial demand.
Fail-safe data and video capture
Genius’ in-venue data collection systems are designed to continue to function when disconnected from supporting systems, ensuring statisticians can continue to collect undisrupted, rich sports data. When disconnected from the internet, these systems will continue to support officials, teams, scoreboards, and broadcasters in the venue. While connected, data is synchronized with Genius’ data distribution network, ensuring low latency, accurate, reliable delivery of play-by-play data. The unique sport-specific user interface workflows ensure the most time-critical data is delivered at the earliest opportunity while still allowing the collection of a rich dataset.
Supplementing the data solutions, automated cameras allow sports leagues to produce live streaming content for delivery through the distribution network. Automated monitoring, remote management, and AI-driven production mean minimal interaction is required from sports leagues once the solution has been installed which, alongside Genius’ innovative hardware solutions, reduces production costs. Genius captures live video for broadcast and high fidelity tracking data, suitable for building a semantic understanding of the game. This capability extends to automated officiating use-cases.
Our in-venue data collection and live stream production capabilities are further complemented by Scorebots that physically integrate with scoreboards in thousands of venues worldwide. This integrates core data directly from the officials and delivers it to in-venue consumers and the Genius data distribution network, in real-time.
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Video capture capabilities are powered by GeniusIQ, which utilizes a single, connected network of iPhones installed in venues globally. Genius utilizes iPhones because they enable camera and compute on a single device, are scalable, affordable, and easily upgradable, can be connected and synchronized to power a single intelligent system, and enable nearly limitless angles for maximum accuracy and robust data.
Highly scalable real-time sportsbook content
To support the vast volume of sports events and live data provided to sportsbooks, Genius hosts in-memory controllers that allow independent management of every in-game fixture for each customer. This architecture provides a very low latency service, is horizontally scalable, and implements a failover software design over redundant hardware to ensure uninterrupted service.
Proprietary high-speed algorithmic models driven by live sports data calculate the probability of key actions (i.e., a turnover, foul, or player substitution) within each event. These probabilities are used to generate and continuously update betting markets, lines, margins, and odds that are specific to each event and customer. Sportsbook customers can take control of their own event at any time and adjust their margins, offering, or position within the market through the online portal; however, Genius’ proprietary back-office trading systems ensure that skilled operators can cost-effectively manage all fixtures for Genius’ customers with significant economies of scale.
Our proprietary risk and liability management services leverage our sophisticated algorithmic models to improve the margins of our sportsbook customers, providing personalized, responsive pricing, bet acceptance and minimal bet delays.
Robust and reliable distribution
Genius’ data distribution platforms are integrated directly into B2B customers’ servers through both standard application programming interfaces and services that can be easily customized to integrate with the back-office systems commonly used by sportsbooks. These integration pathways ensure reliable, low latency delivery of data that customers are licensed to access with additional features including heart-beats, receipt confirmation, and conflation, ensuring customers are protected from any network disruption or slow consumption under load. The design of the data integrations ensures seamless delivery of additional fixtures to the network with minimal customization required by customers as they on-board new sports.
The streaming network supports B2B and B2C delivery of both in-play and on-demand streams at scale. The Genius Drop and Play media player enables rapid B2C integration allowing customers to deliver Genius Live content alongside other content for a fixture by simply inserting an HTML tag in their websites. Streaming integrations are not sport specific, meaning that all new streaming content can be immediately delivered to all integrated partners in the network.
Targeted fan engagement
With visual components that are embedded directly in league, sportsbook, and media websites and mobile applications, Genius is able to uniquely understand the interests of sports fans and deliver relevant, engaging content. This content is served from the Company’s B2C data and visualization systems achieving high availability and low latency at significant scale.
The components offer fans visualizations of real-time sports and betting data, analysis, and streaming, which offer significant value in their own right and are critical to driving engagement in complementary products. Components are modular and can be styled and composed to support the branding and requirements of each partner allowing investment in new functionality to be leveraged across the ecosystem.
Genius’ suite of free-to-play games include fantasy sports, trivia, bracket challenges, pick ‘em, and polling games. These games further enhance the ability to significantly increase fan engagement, customer retention, and social activation for the sports leagues and federations, sportsbooks, media companies and broadcasters that we work with worldwide.
Genius’ next generation augmented streams, powered by machine learning, provide fans with new ways to consume streaming content. This capability can be entirely customized for different audiences, brands and use-cases and can be delivered at low-latencies suitable for sports betting audiences.
Programmatic advertising
Genius operates sophisticated in-house advertising technology, including a large-scale data warehouse, proprietary audience tracking software and a self-service programmatic technology platform. This allows us to efficiently direct advertising budgets to sports facing inventory and audiences, maximizing the ROI for advertising dollars spent.
Through big data analytics of data generated from this unique understanding of fans, live sports events, and the sportsbook market Genius is able to offer large scale targeted advertising campaigns which are delivered through cost effective, data driven, real-time bidding for publishing space. The advertising content selected for each fan by the Genius proprietary advertising technology further leverages the Company’s data and visualization capabilities to effectively deliver targeted dynamic content driven by data, video, and AI across all media channels.
Advanced capabilities
Genius’ Second Spectrum division has built world leading AI and Computer Vision technology that can track, understand, and analyze detailed game play in real time. GeniusIQ's in-venue capture system combines multiple, low cost, in venue cameras with proprietary computer
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vision technology to generate highly accurate 3D player pose data which is analyzed by AI systems that have been developed with a deep understanding of sports to provide coaching insights, support for complex officiating decisions, and rich data sets, all in real-time.
Our award-winning capabilities are driving a revolution in sports data and analytics, coaching, officiating, and visual augmentation of live streams and broadcasts. The augmentation capabilities have been showcased for the EPL, NBA, and NFL with broadcast partners including BT Sport, Amazon Prime, and CBS. RomoVision, developed for CBS coverage of NFL, won a Sports Emmy at the 43rd annual Sports Emmy awards.
Research and Development
Genius invests substantial resources in research and development to enhance its technology, content and services. The Company believes that timely development of new, and enhancement of existing, technology, content and services is essential to maintaining its competitive position. Genius’ research and development expenses were $31.1 million, $24.6 million and $26.1 million for the years ended December 31, 2025, 2024 and 2023, respectively. The research and development organization consists of teams specializing in specific domains and technologies to provide a capability that aligns with commercial opportunities, as well as the need to support existing customers. Employees in Genius’ research and development organization are located primarily in the U.K, the U.S and Colombia. As of December 31, 2025, there were over 500 staff members in Genius’ research and development organization. Genius intends to continue to invest resources in its research and development capabilities to effectively incorporate new technology and expand its offering.
Sales and Marketing
The Genius marketing approach is driven by the strength and innovation of our product offerings. The Company employs a land-and-expand strategy that is centered around the superior and high-reliability of its products coupled with an intense focus on delivering and addressing customers’ existing needs, as well as anticipating potential future opportunities for additional services. Once Genius’ technology is integrated into the customers’ information technology infrastructure it becomes a critical part of their operations and is difficult to replace without risk of disruption.
Genius also has exclusive agreements with several of its league partners, which means sportsbooks that want to offer these events will need to source the data from Genius.
The majority of new business in the sports and betting industries is acquired through direct sales efforts and referrals.
Genius has robust global sales and account management teams with more than 200 commercial professionals, who are organized by region and industry. This team is responsible for new business development and promoting value-add services to grow existing partnership value.
In addition, Genius also has a marketing team of approximately 20 people that promotes its services and drives inbound leads through a combination of attending, exhibiting and sponsoring conferences and trade shows (which has historically been the main focus of marketing resources), editorial content, direct email marketing, social media and paid media partnerships.
Competition
A number of businesses exist in the markets that Genius operates in – namely the B2B provision of sports data-driven technology and related services to sports and betting companies. These businesses sit within three categories: small companies with some similar products but with minimal distribution, companies that acknowledge official rights but lack meaningful scale, and genuine competitors that offer similar products and services to the same target customers.
The Company considers its most direct and relevant competitors to be Sportradar and Stats Perform.
In most instances, Genius serves its customers alongside at least one of its competitors. Its competitors have their own portfolio of exclusive and non-exclusive data rights, and sportsbooks rarely agree to have exclusive agreements with just one provider as this prevents them from offering to a broad range of betting markets, placing them at a competitive disadvantage.
The principal differentiating factors in the sports data industry include the breadth and depth of sports data rights, reliability of key services, relationships with sportsbooks and leagues, and ease of integration and scalability. Genius’ products, services, experience and corporate culture allow it to compete effectively across all these factors.
Outside of the content, data and betting space, Genius has a very wide and diverse product offering, which is supplied to sports organisations, media companies, consumer brands and advertising agencies. Across this wide addressable market, there are many other companies Genius competes with. For example, this includes Hawkeye, which supplies optical tracking systems to create performance analysis and officiating tools for sports leagues.
Genius’ Media business competes with a broad spectrum of businesses who offer various fan engagement and advertising services. These businesses range from suppliers of gamification tools and digital sports content to generalist media buying agencies such as The Trade Desk.
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Seasonality
The global sporting calendar is year-round, and our products cover the entire sporting calendar. In addition, the relative importance of different sporting events varies in the broad range of territories where our customers operate (e.g., European sportsbooks will place more importance on European sports events and US sportsbooks will place more importance on the US sports events). Given these factors, we are not reliant on specific sporting competitions.
Notwithstanding, our operations are subject to seasonal fluctuations that may impact our revenues and cash flows. Seasonality in sporting events may impact our operations and the operations of our customers and sports organizations. Sports organizations have their own significant sporting events such as playoff and championship games, which may cause peaks in our revenues and revenues of our customers and such sports organizations. On the other hand, sports off-seasons may cause troughs in our revenues and revenues of our customers and such sports organizations. Certain sports hold events only during certain times in a calendar year. For example, our revenues are typically impacted by the NFL and European football season calendars. Our revenues and revenues of our customers and sports organizations may also be affected by the scheduling of major sporting events that do not occur annually, such as the FIFA World Cup, or the cancellation or postponement of sporting events and races. In addition, a general economic downturn, lower consumer discretionary income for use on sports-related activities and betting, and the general health of the sports, entertainment, digital media, and sports betting industries can impact our cash flows. See Item 3.D “Risk Factors—Our operations are subject to seasonal fluctuations that may impact our cash flows.''
Intellectual Property
Intellectual property rights are important to the success of our business. We rely on a combination of database, trademark, trade secret, confidentiality and other intellectual property protection laws in the UK, the EU, the US and other jurisdictions, as well as license agreements, confidentiality procedures, non-disclosure agreements with third parties and other contractual protections, to protect our intellectual property rights, including our database, proprietary technology, software, know-how and brand. In certain foreign jurisdictions and in the US, we have filed trademark and patent applications, currently hold several registered trademarks, patents and domain names and in the future, we may protect additional patents, trademarks and domain names. We have also entered into license agreements, data rights agreements and other arrangements with sports organizations for rights to collect and supply their sports data, including, in certain cases, exclusive rights for such data, of which durations are typically several years and are subject to renewal or extension.
As of March 17, 2026, we owned eight registered trademarks and 37 granted patents in the US, and 80 registered trademarks and seven granted patents in various non-US jurisdictions, along with a further 24 pending trademark applications outside the US and five pending trademark applications within the US. There are currently six patent applications pending in the US and 22 outside the US.
We use Open Source Software in our services and periodically review our use of Open Source Software to attempt to avoid subjecting our services and product offerings to conditions we do not intend.
We control access to and use of our data, databases, proprietary technology and other confidential information through the use of internal and external controls, including contractual protections with employees, contractors, customers and partners. We require our employees, consultants and other third parties to enter into confidentiality and proprietary rights agreements and we control and monitor access to our data, database, software, documentation, proprietary technology and other confidential information. Our policy is to require all employees and independent contractors to sign agreements assigning to us any inventions, trade secrets, works of authorship, developments, processes and other intellectual property generated by them on our behalf and under which they agree to protect our confidential information. In addition, we generally enter into confidentiality agreements with our customers and partners. Despite these measures, there is no assurance that these
measures will prevent the infringement of our intellectual property rights or that we won’t face claims for intellectual property infringement.
See Item 3.D “Risk Factors—Risks Related to Genius Sports Group’s Technology, Intellectual Property and Infrastructure— Failure or inability to obtain, maintain, protect, or enforce our proprietary, contractual and/or intellectual property rights, including our unregistered intellectual property, and the costs involved in such action could harm our business, financial condition, results of operations and prospects, and could lead to reputational loss with our rightsholder partners and potential legal implications if we are unable to protect and monetize their intellectual property. Failure to obtain intellectual property protection that is sufficiently broad may diminish our competitive advantages or interfere with our ability to develop and market our products and service,” “Risk Factors—Risks Related to Genius Sports Group’s Technology, Intellectual Property and Infrastructure—We may face claims for intellectual property infringement, which could subject us to monetary damages or limit us in using some of our technologies or providing certain solutions” and other risk factors for a more comprehensive description of risks related to our intellectual property.
Government Regulations
Our operations and the operations of our customers and suppliers are subject to various US and foreign laws and regulations that affect our and their ability to operate in the sports, technology, sports betting and gaming, and marketing and advertising industries. These industries and our business are not fully mature and are generally subject to extensive and evolving laws and regulations that could change, including from political and societal pressures and that could be interpreted in ways that makes it difficult to evaluate our future prospects and could negatively impact our business.
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We operate in various jurisdictions and our business is subject to extensive regulation under the laws, rules and regulations of the jurisdictions in which we operate. Violations of laws or regulations in one jurisdiction could result in disciplinary action in that and other jurisdictions.
Among others, applicable laws include those regulating privacy, data/cybersecurity, data collection and use, cross-border data transfers, advertising regulations and/or sports betting and online gaming laws and regulations. These laws impact, among other things, data collection, usage, storage, security and breach, dissemination (including transfer to third parties and cross-border), retention and destruction. Certain of these laws provide for civil and criminal penalties for violations.
The data privacy and collection laws and regulations that affect our business include, but are not limited to:
•the General Data Protection Regulation, the EU AI Act and implementing national legislation and any data laws and regulations enacted in the UK, including the UK GDPR;
•US federal, state and local data protections laws such as the Federal Trade Commission Act of 1914 (the "FTCA") and Children's Online Privacy Protection Act and similar state laws, state data breach laws and state privacy laws, such as the CCPA, the California Consumer Privacy Rights Act, and the Stop Hacks and Improve Electronic Data Security Act of New York;
•Swiss data protection laws, such as the Swiss Ordinance to the Federal Act on Data Protection and the guidance of the Swiss Federal Data Protection and Information Commissioner;
•the Data Protection Law of Colombia and the directives of the Superintendence of Industry and Commerce of Colombia; and
•other international data protection, data localization, and state laws impacting data privacy and collection.
Other regulations that affect our business include:
•US state laws and certain European jurisdictions regulating sports betting and online gaming and related licensing requirements;
•laws regulating the advertising and marketing of sports betting, including but not limited to the UK Code of Non-Broadcast Advertising, Direct Marketing, and Sales Promotion administered by the Committee of Advertising Practice and the FTCA;
•anti-bribery and anti-corruption regulations, and corporate regulations including the FCPA and the UK Bribery Act;
•laws and regulations relating to insider trading, antitrust, competition, anti-money laundering, OFAC, intellectual property, consumer protection, accessibility claims, securities, tax, labor and employment, commercial disputes, health and safety, services and other matters;
•other international, domestic federal and state laws impacting marketing and advertising, including but not limited to laws such as the Americans with Disabilities Act of 1990, the Telephone Consumer Protection Act of 1991, state telemarketing laws and regulations, and state unfair or deceptive practices acts; and
•laws related to corporate sustainability, climate disclosures, and social responsibility.
These laws and regulations are complex, change frequently and have tended to become more stringent over time. The laws and regulations applicable to some parts of our business are still developing in certain jurisdictions, and we cannot assure that our activities will not become the subject of any regulatory or law enforcement, investigation, proceeding or other governmental action or that any such proceeding or action, as the case may be, would not have a material adverse impact on us or our business, financial condition or results of operations. We incur significant expenses in our attempt to ensure compliance with these laws. Currently, public concern is high with regard to the operation of companies in the data collection industry, as well as the collection, use, accuracy, correction and sharing of personal information. In particular, some consumer advocates, privacy advocates, legislatures and government regulators believe that existing laws and regulations do not adequately protect privacy and have become increasingly concerned with the use of these types of personal information. In the US, Congress and state legislatures may propose and enact additional data privacy requirements. Additional laws could result in significant limitations on or changes to the ways in which we can collect, use, host, store or transmit the personal information and data of our customers or employees, and deliver products and services, or may significantly increase our compliance costs. As our business expands to include new uses or collection of data that is subject to privacy or security regulations, our compliance requirements and costs will increase, and we may be subject to increased regulatory scrutiny. Currently, there is also a trend towards more stringent gambling advertising regulations across Europe. Additional legislative or regulatory efforts in the US and internationally could further regulate our businesses. See Item 3.D “Risk
Factors—Privacy, data protection, and data usage regulations are complex and rapidly evolving areas. Any failure or alleged failure to
comply with these laws could harm our business, reputation, financial condition, and operating results.”
C.Organizational Structure
Genius Sports Limited was incorporated as a holding company in connection with its business combination with dMY Technology Group, Inc. II on October 21, 2020 under The Companies (Guernsey) Law, 2008 and registered in the Guernsey Registry.
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We have 48 wholly owned subsidiaries that are listed in Exhibit 8.1, Subsidiaries of the Registrant to this Report. The significant subsidiaries of the Company are listed below.
Name Country of Incorporate and Place of Business Nature of Business Proportion of Ordinary Shares Held by Genius
Maven Topco Limited Guernsey Holding company 100%
Genius Sports Group Limited United Kingdom Holding company 100%
Genius Sports UK Limited United Kingdom Data services and technology 100%
Genius Sports Media, Inc. United States Data services and technology 100%
D.Property, Plants and Equipment
Our corporate headquarters are located in London, UK, where we occupy a leased premise totaling approximately 4,907 square feet. We use these headquarter facilities primarily for our management, technology, commercial/sales and marketing, finance, legal, and human resources, and other corporate teams. Our US headquarters are in New York, where we occupy a newly leased premise totaling 35,442 square feet. We have vendor agreements for one enterprise (third-party hosted) colocation facility.
We also lease office space in 14 other cities throughout the world, the largest of which includes a 22,636 square foot space in Sofia, Bulgaria, a 23,465 square foot space in Medellín, Colombia, a 17,528 square foot space in Tallinn, Estonia and a newly leased 23,469 square foot space in Los Angeles, in the US. Our major sites in Medellín, Sofia and Tallinn are primarily occupied by operational teams (trading, data services and customer support). All of the above leases expire or are up for renewal in 2026-2032.
We also have a 3,229 square foot freehold, mixed-use warehouse and office space in Bologna, Italy.
We believe that our facilities are adequate to meet our needs for the immediate future and that suitable additional space will be procured to accommodate any expansion of our operations as needed.