Shares of Genius Sports Ltd (NYSE: GENI) surged over 5% in pre-market trading on Monday after the sports data and technology company reported better-than-expected third-quarter results and raised its full-year guidance.
For the quarter ended September 30, Genius Sports posted adjusted earnings per share of $0.05, beating analysts' estimates by $0.06. Revenue climbed 18.2% year-over-year to $120.2 million, surpassing expectations by $1.28 million.
The company also reported group adjusted EBITDA of $26 million, exceeding its guidance of $25 million and representing a 45% increase from the prior-year period. Bolstered by the strong performance, Genius Sports raised its 2024 group revenue and adjusted EBITDA outlook.
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