Genius Sports reaffirmed its 2026 financial guidance after Brazil banned fixed-odds betting. The company expects group revenue of $1.005–1.025 billion and adjusted EBITDA of $285–295 million.
Genius Sports generates minimal revenue from betting in Brazil due to the structure of its commercial agreements. Mark Locke, co-founder and CEO, said the company had been sceptical about the timeline for material betting revenue in Brazil and built conservative assumptions into its forecasts. Current-year financial targets remain unchanged.
Genius Sports' partnerships with Brazilian sports organisations are unaffected by the ban. Its work with the Brazilian Football Confederation centres on the GeniusIQ platform, which powers semi-automated offside technology and other products delivered directly to teams, leagues and federations independent of betting.
The statement followed a provisional measure by President Luiz Inácio Lula da Silva on 25 September banning the operation and advertising of fixed-odds betting in Brazil. The Health Ministry said the measure covers sports betting and online gaming, including activity authorised at state and federal-district level. Lottery categories already permitted by law are excluded. The government cited health harm and social consequences of gambling.
