Genius Sports reported second-quarter revenue up almost 65%, to $195 million, with $117 million, or 60% of the total, coming from its betting technology segment.
That segment grew 27.5% year on year. A lawsuit alleges the company takes a commission on every microbet placed on DraftKings and FanDuel, a line that brought in $126.1 million last year. Genius gives no quarterly split for microbetting, so its share of Q2 revenue is unclear.
In February Genius closed the purchase of media network Legend for up to $1.2 billion. Investors sold the stock off, sending it down more than 35%. It has since recovered to $7.83, still short of the $8.54 it traded at before the deal. The quarterly loss widened from $53.9 million to $76.7 million, while operating losses narrowed from $80.7 million to $55.6 million — the Legend integration absorbed the difference. Wells Fargo cut the shares from overweight to equal weight, saying it wants evidence of a long-term return on the acquisition. Genius raised full-year revenue guidance to $1 billion and EBITDA to $285–295 million.
Legal defence costs jumped from $2.1 million to $28.9 million. Two gamblers filed the suit; Genius responds that it only supplies data to bookmakers and carries no responsibility for how clients behave. This week it agreed partnerships with Polymarket and Kalshi to supply live data and monitor market integrity. Whether Genius collects a commission on live bets the way it allegedly does on DraftKings and FanDuel is an open question.
