GENI - Earnings call transcript Q1 2022

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Operator

Ladies and gentlemen, thank you for holding. Welcome to the Genius Sports First Quarter Earnings Results 2022 call. Throughout the call, all participants will be in a listen only mode, and afterwards, there will be a question-and-answer session. [Operational Instructions]. Today, I am pleased to present Genius Sports. meeting. your with ahead Go

Unidentified Analyst

Good morning, us for thank you joining today. and

are remind begin, in may cautionary certain and such XX-F that for should materially that from of we'd from be to we results Report forecasts. actual discussions you with statements. risk cause constitute conjunction release earnings to Any our Annual statements year. could like filings this statements our call Before SEC, differ statements this We to forward-looking filed that assume results responsibility risks during statements forward-looking the or our historical subject updating in in last XXth with including our our factor made considered on our March Form no on

geniussports.com. also as non-GAAP believe certain turn non-GAAP the to found available Genius and call, substitute that, During measures CEO, measures Genius operating most will or the is useful ' maybe results U.S not in U.S performance. management isolation a measures reconciliation press GAAP we earnings should at our now in ' over accordance A Mark in presentation, to these website investors. our which I'll can earnings measures on These the evaluating with directly in be prepared GAAP. for call comparable financial of considered Locke. With that our release be discuss

Mark Locke

us today. and joining morning, again for Good thank you

and outlined where plan us on provided Genius, a dive over our reference you who follow few and Day XXXX, outlook you for supporting business have For past we model strategic our XXXX profitable frequently those beyond. months, may our Investor the heard deep

demonstrate included of segmental levels outlook near-term strategic detailed the plan. on quarterly guidance also progress XXXX our Our to

expectations to are the our and pleased results year have begin plan executing we that ahead to delivered of the successfully in first financial We we are on quarter. that share

negative adjusted Group our of million revenues also million. of million in the $X $X.X year-on-year quarter, guidance to $XX EBITDA increased XX% expectations was $XX million. group ahead of exceeding negative Our our

let start, we becoming we the than near-term confidence a commercial profitable our our partnerships of To are brands. deep we of value, against have technology. the In portfolio more our other value rights view rights the to tech and Colombian Argentinean rights obtain the offsets. us core UK, world. new us the the While gives continued increasingly us or a see more CFL with other streaming of a Latin in deploying we in along Premier quarter rights words, gives football competitive This, allows name assets that clear, coverage, content, execute and a America, technology, Genius. events media to in ability and and from manage vision, sportsbooks, our strength. or success betting. long value position aim to came where components particularly to is of our just from see flagship importance only of cool Leagues regions our in acquire business We official Much just few. of our sophisticated and year. under portfolio U.S., schools This this new strategic and deals approach to with because Canada, departments, this full in long-term in But various NFL of forecast across expanding of League including actively execution with me continue in carry the maintain English the in data be quarter. advantage overall to strategy much about of leagues, the for we a we our regions for our tail official the milestone The our are

platform scale helps enables engage full additional understand better solutions audience, their monetization and leagues opportunities. which Our

leagues really sports through ways me from to quarter the with we work illustrate the Let samples betting. a just beyond walk few

of a The and Icelandic First, media, announcing tournament the basketball Mid-American are NBA March. live within and also inventories, our signage, advanced optical system collection broadcast Second and we forecasters. conference in players, solutions of tracking data partnership We're fan in tracking fans, detail and our with digital cover We'll there G expanded to and will League football, the capabilities in where leverage this partnership accelerate Also, platforms. leveraged and more growth and Iceland suite with a with Second integrations, men's coaches, Collectively, engaging in and sport of will of customer analytics for we fans. services, by new shortly. powering experiences will NCAA women's full stadia acquisition sponsor Spectrum marketing digital those and marks, college also Spectrum's support the internationally. provide the deliver including augmented help the to suite sports engagement logos, Genius free-to-play the to guidance expect

we tracking franchise conversion augmentation video partnership speeds, MX transformative Second technology, expected velocity, shot rates, will Latin and Necaxa. our America we Liga Lastly, with new first announced in Spectrum capture points data go our more. Through place and Club like

All for insights and of which coaches. players immersive experience fans and for powers

range tech sticky secure us unique So, integrates us our Genius in when on a enable so They is on rights table. leagues not data partner. why more gives ways from generated solutions revenue are monetize partnerships They than approach our long-term just data important? sports clubs and us streams the capabilities betting. how to of diversifies differentiated deals. rights making technology, even And Our our a

financial quarter our partnerships, acquired as with XX to customers strengthen well. success our this continuing we alone, sportsbook are While new contributed results. that we to In partners Genius sportsbook seeing similar league our are

successfully incremental and revenue we've Importantly, our also relationships existing provides services [Indiscernible] customers by expanded with content which uplift. cross-selling various

share from of benefits important is incremental means other in things Unlike win driver model It BXC, [Indiscernible] sports margins. new operating profitability ecosystem. immediate neutralization, as what We benefited North our New unique quarter. heavily economies particularly at online any New have market utilization for which those states, allowing or market Genius betting to so or customers makes meaningfully little is model in business ' scale. the York, saw in revenue which partners launches What Genius. in people province of to in Ontario, many an enjoys this sportsbook's also York that our the America, state in to start of after successful Ontario, soon Brazil, acquire costs Genius continued who from wagering. betting revenues invest contribute is sports and opened The to and and business

results segment. growth organic engaging higher driven spend Bowl This was programmatic in around advertising Madness. We Super than also March media and delivered primarily on by strong expected our the

audience drive data in through Our quarter. data results unique We'll helps helped increased our again in odds the touch combined and to which shortly. deliver partnerships access performance-based advertising our on spend customers obtained this strong to with league campaigns real-time for

of gives Spectrum Our our for already outlook in and our is pillar execution our of quarter importance and an will XXXX XXXX. partnerships in our at offering. guidance the momentum cover detailed Nick this us the about through and tech-driven Second I've shortly. league confidence length of important and remainder spoken reaffirming year the results

examples and our and in by media being differentiated of advantages. get this leagues betting Our ecosystem and Each helps used competitive is further technology sports, how increases embed real broadcasters. we to quarter, Genius technology life show

the is women's and notable tournaments Our application most Division recent March during and during Madness. basketball men's X

powered in You Second and real-time cost Spectrum. visualizations at may four, championship NCAA data presentation gate, by mega have featured a augmentations video seen ESPN the women's national final which

other For example, [Indiscernible] ultimate real-time tournaments live graphical augmentation distances, and in This tool of the This the personalized broadcast broadcast bringing and will was the and the could which track the to tracking contribute action closer to your data-driven play probability, leagues also on brings and video tournament, used increased Madness overlays. floor. engaging more to March even alike. Men's broadcasters value experience, to fan a shot

fact, the in Emmy Second support NBA ESPN In and with for the of awards on Spectrum. reached NFL Genius CBS, Sports the nominated on

true, [Indiscernible]. we're proud and federations the pre We've as Through -played our New to league tool nominations sports NFL, any part to but also such engage a connect others. seeking our progress Wings strengthened key federations, have games customers. FanHub, IFC, leagues NOB, free-to-play success acquisition Wild for and of of are this another games, I This discuss to for leasing audience the driven just and to to of reach. our or have improving brands Buffalo of the Genius We suite to for it. as our solutions offerings being not best-in-class, fans Jersey is like and delivered with digitally total delighted Mike's, for its

with partnerships for has streams. our in to success This space, We leagues, we helped our deliver a us indepth diversified to to in also how you about. continue of long-term to I'd quarter. this close secure drove technology this we as results not only - but like give customers revenue others talk

partnership launched begin includes excitement was in to season. fans designed data. MLB, to the with beats engage season, of holistic well First, free-to-play views of fans, capture the which games This generate the was series the strict a first-party the help the start games. and to we known that MLB There

FanHub, position of wider partner growing in multiple Genius in areas has as relationship ecosystem its itself trusted addition the of and a its MLB's With further strengthening MLB expanded by the tech across with expertise.

betting, is an on of a just was wider is audience NFL This we every attained we can This across which NFL the the you Genius betting countries. and is the depositer our is minutes In are to the contributed the be understanding international audience section, for helped has as XX the meaningfully data, right to time the in in as XXXX activate convert revenue broader betting, of quarter cost-efficient with Super leading performance are in and images sportsbook customers. some up base, league well see the our NFL all will markets. brand NFL how the a at nine seconds. live which as goal partnership campaigns. but March data, season, objectives. content to during from engagement spend work sportsbook on own sports an This executed events. the organic right our and to the valuable that especially important programmatic utilize Super acquire acquire are brands them Free-to-play around of tool odds Like customers. sourcebook us set uniquely of role NFL with an and leveraged Challenge, and advertising our client our To live to We achieve audience games for behalf The realtime international based acquired like Again, in that customers to every and leagues. unique family potential exactly play context example. engagement new is context, Genius digital Free-to-play and continue this we and just partnership free-to-play to relevant BetVictor to more the enables also the data hours results the acquired to Bowl, and launched this. results efficiently. is slide. us give their XXXX with a important the sporting Bowl data, on the of games MLB, in this highly new access our which they differentiates the of highly help fan to our one customers personalized Super the to first space, what brands excellent have events our out on platform advertising. international And better Madness. Bowl to This of new use in sponsors positioned can time fans free-to-play NFL the expands engage the games reach audience what the fan and This you is media to deliver can XX with better a driver effective is then five pool for leagues, beyond key example biggest

industry promotional from the and solution with customer on this Importantly, ' as $XXX at below performing cost-effective it and performance up television spend, for where technology national Genius is to of its advertising we've world acquire average retention long-term CPA on In as promotional It bonuses acquisition. a which brands a solutions customer average. for present rationalizing high is distinct flat value. is separate these is are [Indiscernible] done an XX% sign based

So will in more With we're to opportunities I'll financial turn the call ahead that, about the now cover Nick detail. optimistic segment. this results our who in

Nicholas Taylor

Thank you, Mark.

for group revenue a on guidance on our we are set with the first XXXX we our year group position. adjusted the mentioned, Remember, Investor to exceeding and full-year begin Mark expectations. positive As delighted quarter profitable note Day our EBITDA

the transparency quarterly aim tracking basis provide is near outlook, view annual a along term plan to on more we give profitability. the towards to Within business how on a our

step year. a of review provided a also segment the contributions we've each to As throughout seasonal trends show quarter further, reporting and

segment each met quarter, or This our exceeded expectations.

XX% renewals new services revenues price growth with and and Firstly, grew primarily portfolio our expanded our U.S. contracts driven This year-on-year including million. data, to app content. betting by content, existing value streaming increases and in along was premium renegotiations $XX of

in We the cross-selling course, lift quarter, our new acquire revenues in revenues expectations. helping we've also ahead continued with successfully to to of on also And quarter. the customers, the to contributed executed several customers opportunities of which

quarter $XX business increased above represents consecutive quarter. the to Our the year-on-year performance-based a major our to advertising, XXX% effective million, driven by times an segment proven over multiple be and with programmatic in X.X third in customers outperformer clients. our year-on-year by of to which new the growth. to and The method significant most Revenues this has continues be acquire success for

existing $XX higher This the revenue million. and group our in with as million was customers. line last services for Second $XX to all Lastly, same successful roll double out ongoing to primarily federation integration year-on-year and provided and aggregate of This Which of our XX% by to expectations. technology, expanded driven above moving quarter. guidance period XX% revenue, Spectrum as well sports than is league our year, the sport

group quarterly revenue to our of performance adjusted group contributed XX% which roughly negative better guidance. is million EBITDA than $X.X Our

remain first relative our year. we execution guidance, demonstrates in on The progress confident our the as the quarter our results the of we our we ahead look Day. plan to outlined along And Investor remainder

for the of group results QX in war revenue. our no Ukraine, and our to / fluctuating This approximately currency guidance in million conversion poses in sterling revenues currency reaffirm us enables despite adjusted in the full-year presentational rate a itself. U.S. rather in to dollars. strong GBP But business reported impact EBITDA. to currency fluctuations, $XX both XXXX, dollar is escalating revenue risk standpoint, From Our $XXX our exchange an the U.S. million and just which of operational

presentational the i.e. strong our Given believe enable the X.XX to $XXX revised we our revenue on our risk currency predominantly ratio dollar group if we see revenue adjusted our time is used a focused. the Day, in of therefore raise our fixed betting business like U.S. us on exchange million is you Most million U.S. which basis, and a in of approximately Investor of EBITDA. and guide media in provide currency We results would can as constant we QX to presented at in the the January page. $XX guidance segmental

So to volatile, long this remain business continue presentational will provide currency as exchange volatility. our rates in to currency a we -- to the view new constant

based the headwinds, confidently to-date, revenue full-year we're on guidance. currency maintaining our So adjusted other strong on and to recap, EBITDA presentational performance this despite operating

I'd our in position put on liquidity to conclude, as well. like we touch Before

we see $XX spend with a You in statements quarter in related various balance nonrecurring events. million finished $XXX the sheet. will our million to of the cash financial timing the on one-off or differences Approximately dollars quarter the

compared with U.S. revenues For the period the in profit which higher fee we the at contracts, $XX betting end at This million proportion largely capital contracts of quarter. the fixed paid larger was had direct media is due to outflow on and instance, to typically beginning. costs the a share of working approximately paid of variable revenues

our quarter this two. of to work much in expect in favor timing We

relating presentational by out past to also investments CFL. due U.S. to the worth as our the pound. it's rates exchange of approximately is British million calling position cash $X the continues outlay $X our impacted in further And a against strengthen million one-off Additionally, to dollar reduction

the And favor continue as technology capitalized quarter. notice in by end the our this primarily capital which it's to we consistent address in you'll timings, flow of We to to networking million as expected. invest we our Lastly, through platform. swing quarter, to costs driven remain $XX of expect next wanted in development back cash anticipate quarter's because the we year

even flow and cash the a two EBITDA net to million to flow increase. quarter as $XXX balance break projected expect and in expected of closing We roughly by be year-end cash broadly cash

to comfortable conclude adjusted through closer are to EBITDA remarks We cash and year, Q&A. for the ample the and position half to expect fairly with our we be open XXXX. and flows that, of by capital have business Particularly, remainder plans liquidity prepared with continue of on we the the funding And our the generate the to line second today. as positive exists

Operator

[Operator will be There are pause our a for questions Instructions] brief being registered.

Bernie from with line the Needham. is question First Please ahead. McTernan of go

Bernie McTernan

the spending if that Thanks CPAs. details in as questions. part which then operators [Indiscernible] on customer focus business results XX% business terms keep taking can substantially of it grow out pulling know better-than-expected they're is you called [Indiscernible] [Indiscernible] to able in back Thank I of customers you of CPA additions the you how the new appear as to more. that about XXX, much industry terms to also you. want with I Great. the about discount continue for quarter consider but spending, to you deliver existing being especially view in that below that how that or long media XX% the was think be average below that averages.

Josh Linforth

Business Director Linforth, Josh this here Bernie, Media Hi for the Managing is at Genius.

the U.S. with growth the existing terms both spend quarter, us. increasing us new as the driven customers, really winning our One, factors. well two in as and your question of to in answer growth by was Just customers, Europe in

new our down partly customers is spend. them diversify strategies introducing partly the with but to increase to down to seasonality, spend help Our us also in

spend expect very for ultimately, customers additional in. further markets us is have And that well, So with so success helping to to out. us a [Indiscernible] player acquisition. that been [Indiscernible] the States terms continue to And rolling market we with target. customers U.S. particularly these And those State mature CPA and as need many spend market them each new more our are new in in that drive years for their [Indiscernible] of around

a and with continues time considerable this comes at that terms topic and and TV Operators of back growth sportsbook us the discussing said will were we promotional as well there. of line And actually when first and So and it sort the very they like in the spend, the the discussing top that, of be pulling that. marketing largest spending amount looking week cut of spent for to I promotional marketing thing in things offers things like they'll spend as one

So because that. customers is value player and Genius marketing them attributable performance-driven, it's so that to something offers on see it's cutting you'll our things sign-ups the and very customers new their to really back directly that ever not like

Bernie McTernan

Makes appreciate sense. Josh. a lot the I insight,

Mark Locke

Thanks -- that our our the betting come online, states new highlighting worth but Bernie, to times a this to different also When as sports today. it's probably spend probably joining our also to hi, more today Mark. but applies where I'm It's also through obviously us to very opportunity going gives for say few a lot media a model huge get side of it's well. is business business operators. that

but sometimes a need to that service by net know of things them. in place of from is fundamentally online I don't we that I the money lot new more we to technology missed, the market guys, coming have don't because the we but is are and spend One you think benefiting already states -- for

flows to operator online, very through. got to new new if money come put that's marketing Whereas states margin to high an and got spend more you're you've you've that dollars, work. So business

flowing grow through help we're very I as be us see think as to and of our line. footprint in the So and our as to regulated through the dropping states well-positioned increases, -- business states to those going

Bernie McTernan

generate follow uncertainty guys one both on and Did mind, a if getting just revenue there's in Mark, in for market. the questions some in this quarter up positive you We've the of just media you lot betting? on that. don't York and New been

Mark Locke

Genius we're New the no, There's to through Look, in us no incremental beneficial Yes. ways, York date service setting incremental the obviously that through online costs put spend coming but Genius two to there's that the and Media Business, costs to tiny that. sportsbook. we to it's the hugely to

few give marketing Florida, we to from. that we If to it or will what with going new to bag will beneficial. bits which all. not another but any enormously because California acquired Minnesota. happens see the spend understand benefit come key see this data selling more the betting -- fundamentally through to we do have handle, customers, without to If comes we major they're pieces new help a next So new in is And also, any state is back through on, guard comes which period, on effect point that only that will already Massachusetts, opportunities and that there's be great will costs we we states, additional real on

point of Did from enormously answer as other all the coming New I question? through. York will states view, So these beneficial, are that was

Bernie McTernan

was were revenue aspects. because Yes. either It's from of to of question that to the lot them York or net BSC the operators and -- -- New neutral was a saying negative operator just stemming promotional the

to make difference between was if sure wanted as Just beneficial the wanted it cap, to -- that there's NGR is see that GGR you impacting. so just and still to was know that I

Jack Davison

Yeah, sure. Jack it's Bernie, Yeah, Davison.

I spoken before. think we've

on are focus down You to exactly the cap.

protection there. our that's So

good of do our marketing caps have handles scale business. But immune But -- drives in protected the that to customers are we totally we to spends? sort as because from the are marketing by and spend before turnover our things. of we want So other we've that discussed we No.

operators. to us are mean and clearly from where me get point market make was us of and a and be the in wrong. we challenging that all, for challeging tax we beneficial that But that the it tax upright money are. unable doesn't for view that's don't it's So better If and an you would high

Bernie McTernan

Understood. Thanks all for questions? taking the

Operator

of question Next Allen. Ryan from with the Please Craig Sigdahl is line go ahead.

Ryan Sigdahl

abundantly [Indiscernible] revenue just clear, the a Maybe be New just to was positive bottom-line? incremental then quarter York positive and in to

Mark Locke

hey, Brian, Yes, it's was. Yes, Mark. it

Ryan Sigdahl

I that Thank clarification. appreciate you,

on. Moving

So, you guidance. months negative ago down mean, looking that when to I FX, gave at about of XX% material pretty couple relative a

a things lot we of we're the things good as of at back a happening So, business lot expecting then. [Indiscernible] good

So incrementally to is FX that offset that relative what better going plan to help translation? unfavorable

Jack Davison

Ryan, Hi again. it's Yeah. Jack

touched by in I some performance Media of really of fundamentally, help Business, some the on the fan performance-based from it. we fan But delivering some think a the out distributed where of of with like relationships. of should it's media things of and our part business of lot we marketing. the a revenue the thought performance sport marketing ahead and engagement We point-of-view, we're the be would be we

So we results do more, we them. our continue customers to if to job, deliver for [Indiscernible] continue continue our to spend

combination all has driver big Businesses it. the as key also business well, we in levers of really a have So a to our execute again. But outperformed been the that's that's Banking of that

services new is that main Betting are customers existing expected levers of those of And the that the is we some Some we wins, in than the Business. two have quarter. that utilizing in customer more our

outperform Russia. and battle us in provide, despite maximum results a receive always allows good the stuff. good and that currency our do we with New we that's to the use to customer the that job the expectations on headwinds regular and the customers ensuring a on services basis us the wins But situation competitors in that happened really our from customers if

Nicholas Taylor

Ron, Nick Hi here. it's

it underlying guidance presentational issue again. and GBP [Indiscernible] actually but in impacting dollars just right I You're down underlying the that currency, up just on that it for is the to the -- XX, earlier our which our And This but to to position currency brings about call, to is have functional not street reiterating. some that's constant a as the change. really business. and actually in only numbers our the it currency, is to opposed is we the called then think call three Sterling, XX we're present that underlying because XX talked I on doesn't This issue, three currency presentational business it's obviously to and out us why

Ryan Sigdahl

Curious strong helpful. absolutely. growth understood. of Yeah, media No, bit more, versus you a marketing quarter. a of just kind the that's media versus drill organic was ad very performance-based acquisitions, business contribute? smaller How tech in on to much I I those how couple much down side the made guess, that of

Josh Linforth

Hi, Ryan. This is Josh.

all through that for of the the core new us more brings business of to for organic really, The was through customers really growth So well majority through continues business. core our customers. programmatic That existing majority upper sector the ending was and us. winning grow

Nicholas Taylor

XX% [Indiscernible] Yeah, of It's a in Ryan. hi, over is XXX% that the [Indiscernible]

Ryan Sigdahl

NFL you with you're [Indiscernible]. margin gross and comment accounting timing keeping On structural GAAP equity are But some willing when the there's to the nuance [Indiscernible]. recognition of versus granted items there. And some I realize to

Nicholas Taylor

Ryan. Hi,

[Indiscernible] So on cash position?

Ryan Sigdahl

reported talking gross the financials, I'm margin. about

Nicholas Taylor

[Indiscernible] nuances mean, I there's right, around actually on Yeah. first accounting. some you're the thing,

[Indiscernible] to They're QX and you'll margin next around The NFL [Indiscernible] QX see the currently our the next million will first thing back $X and expecting in quarter that about basis. [Indiscernible] million. to say position in it on quarter I'm $XX achieve to backup, running that as the reduce gross is the

non-cash million simply the to going we're position. because have improvement of basis So on a quarter NFL a $XX

obviously next made, and back. to acquisitions digital will So that but the over you quarters expect we make of that come we when the depreciation amortization And short time. a armotized as to the reduce significantly period will therefore those [Indiscernible] significant a a we would couple that difference time of

Ryan Sigdahl

Good Thanks, guys. luck.

Operator

ahead. Oppenheimer. question go with Jed the is Next Please from line Kelly of

Jed Kelly

for Thanks Great. Hey. taking question. my

Business in million looks a you business in You apply then you and look $XXX it could this well revenue as do year. and over like normal at Strong advertising the that seasonality Media see B,

what's talk really that is political your terms around are leaning might And be CPM. up implied Thank you you're that inflation, there betting can related you're about With being is media, your in talk about to tied conservative can your back then of into guide. just boost half could in you with betting? not So sports other anything there entities but solutions, anything potential -- I advertising like, the operators, success talking you. appreciate

Nicholas Taylor

two Hi Jed, guess. specifics operators. Josh and to take take those [Indiscernible] it's or and [Indiscernible] non-sportsbook the on Jack I'll Nick. seasonality to it the that, Yeah, around play I the leave I'll [Indiscernible], for [Indiscernible] there's you're up right, that parts

First of of QX, the all strength is Sports Calendar. natural

you that Madness see all and we've [Indiscernible] that think, last fitting I on in playoffs well. [Indiscernible] March and into our as Media quarter. can year already last And Business called the

can QX, full with QX, then again [Indiscernible]. that and that's and You rises see QX, and in

I think we I -- to constant pulled it in and currency was was major that we about on our XX talked down we segmented this and and X.XX previously XX out basis is think see think then about position -- a I XX/XX.

part absolutely performance. although strong, a right, obviously, the very with will that play very you're QX happy and So

expecting We it seasonality. to drop naturally because are in QX, of the

annualization little sportsbook. of just The actual second is which our for U.S. unknown around contract positions bit the with more of an us. It's part, a the

we've the minimum over million up along like in committed do summer that that full what As quoted lot through spend, year. only mid period. contracts. to for with late almost way we those year had the still X/XX understand last estimated but of media, we've media a spends $XXX reality. we need looks That Obviously, to to around a They of exactly those and the timing we in signed I three-year you think know, the sportsbooks a

we to on Thanks. QX earning you've Now, second I'll be assured of rationale Josh thought. a already, there's heard as obviously that to Josh place. still about performance. the over how with were basis, very the lot that hand happy we successful a but for in continue And some that when rest Josh.

Josh Linforth

Hi, Jed. I on lot we had I mean, also extra some probably casino. is realize advertising a just that people context don't of that. do a one lot for thing, of

the And for the XD the Seltzer, had [Indiscernible], names. give events number great of us things, customers few We advertising a in success on Rocket customers drop, through continue had course you new Hennessy, number So quarter. well. over to we've of we Canada, do to going Mortgages, the a side of customer our other can sports wins. of that of casino lot also then quarter. a came Destination non-betting as I

side non-betting grow continues to us. of the for So thing

Jed Kelly

like paid. conferences? Got it. seems going Power some see Five about to the with conferences their away are the college you of football conference, And use data to talk get it college contract football Mac negotiations those larger Mark, mentioned clearly how then you the Can

Mark Locke

with say conferences is positive Spectrum the three ago. very that their those already partner to And technology on a period technology position the absolute Hi, got, did years our is deal Obviously, very I reinterpreting a collection Mac ' the of their be think for that was utilization providers. a real with incredible big commercial in offering schools natural about us technology very very, can't obviously conferences a nice Yes, all very that good will we that the of with off there, surprise NCAA that's for that's was Genius our work. got unrivaled. we that what's be a be that -- comment we that To for have lot over moment it be and signed we've that are. obviously heavy about stats, a very into going we years recap, look which ago will project good that. say very are on we're suffice stack been would It's key done to three an XX-year absolutely where will in unbelievable and colleges. confidence Jed. We've profitable where involves Spectrum, pulling not NCAA, which an result and awful only and and deal, we're bylaw also execution a be a Second an it's technology have is tools, Second data consider but into I essence, we're Genius really thing. leveraging the positive with I that means to one And us distribution full completely Clearly, it to part. deal of that of in X,XXX now. And deals on will estate. position. I that a feeling think stack. I to deal it as We've deals. seems 's for deal live And the is deals. and deal NCAA and the entire the across what the I'd we've can on or that will That happy solutions are very we because predominantly they got doing putting And with right we And of thing it mainly live the the doing deals we look pulling schools their we strength digitizing big what say, which other technology

Jed Kelly

Thank you.

Operator

UBS. of question with Please is ahead. Robin Farley go Next the line from

Robin Farley

Great. I similar Business, that piece organic revenues wanted the percent on you know the if ask a what I you other Media some question addressed was verses from for Thanks. of to color acquisitions. about too. Thanks. but the with could growth give segments --

Nicholas Taylor

It's Yeah. straightforward to Nick. Hi, quite that's Robin. give. Yes,

betting the growth no that all So so it's there there is and sportsbook is -- all business, inorganic organic. in

I think Second we gave you than the Media and know entirely inorganic [Indiscernible] Business, revenues Ryan that our earlier business report an and Jed more I in and the almost that. Spectrum is much sports

Spectrum. the So year-on-year Second is growth almost entirely

think the just basis. it's growth I on total that growth up, took the XX% against in you think XX% I shy organic quarter year-on-year if a

Robin Farley

in rough point. at the than very FX at a to just also million full-year Great. and back-of-the-envelope, And little this like sort guidance FX a clarify, you. at That's mentioned difference looks helpful. wanted that you Thank maybe will looking less issue, Okay. your be of

that out of you Russia think called Would about what out Thanks. I Russia. how think two another be your exiting You the guidance also business the release for and keeps mentioned impact? or that in million -- full-year that should we sort that's comes Is in unchanged? the

Nicholas Taylor

hi, Yeah. Robin.

the to this impact think I Russia I $X gave that but call to called would indication think million, -- I last I of I coherence [Indiscernible], post out a time.

us just I which guidance success impact basis, But any around that Clearly, of the in also the last some content drop couple sort today. on to from that the think doing. substitutional we're these out that Russia getting being was included midpoint impact had the sit we've of folks. to of we look over within included to cut in months

Robin Farley

a a like amount a - - that Russia? in that right? guidance that more ago been ago, quarter Would on million hair of slight from maybe impact quarter the would've your So in it's sort of

Nicholas Taylor

haven't our made if Russia the we've that I was in remember decisions back Russia pull made to I here said that out March, Day, decision my I time, the announced I we in we the where mean, that [Indiscernible]. guidance March. time, given so on in I think believe January, we I at remember Investor the think we I and said in in

relatively of the Russia actually officially. So to impact And the as for QX minimum XXC for quarter we're reaffirming is today. the

Robin Farley

Okay. Great. very Thank much, you Nick.

Operator

from with Next line Benchmark. ahead. question go the of Mike is Hickey Please

Mike Hickey

Brandon, Mark, good Nick, questions. Hey, taking my for quarter. morning, afternoon, Josh, Jack. Nice Good guys. Thanks

just one, first quarter Nick, on versus guidance. your First B

such are the guided is media at fully to spot of side of middle most at your quarter looking your segments, the variance that with the a just in a other selling XX, your I'm actually of like of of sort just spend, given guided then quarter, you media you're March that the was there pretty March, you when sort of baked why and remainder a follow and when ad I'm some here on this the source hearing it just provide your being feels of the two of reason. curious morning curious quarter year. longevity end the there's or variance in you to sort think in you just conservative I terms buy line. much there guidance. upside up business of you And for some

right that follow of sort up. to that's will I want of the recrew. Just clarify sort

Mark Locke

Hi, Mike. QX We for reaffirm a March you're significant QX the -- today. doing segment. we're right a I guidances, guess Media gamble from month one which results. first on on it's is obviously

and guidance will the guidance as things, in month -- that given the we the at we Madness, Josh about was impact a but was Jack as to performed particularly time, for send thought March and heard of that us Russia time good right was the NCAA, our very also pleased You've talk given today. on that and

of guess terms of what rest goes we're to think the year, saying. -- I back it In I the

because opposed prepared X.XX, be rate I to as concurrency on sticking think upgrading at X.XX. we're at in we remarks presentational would on But our the basis, at sticking of currency predominantly full guidance opposition. a the X.XX freefall field to

quarter. etting upside a timings specifics, Media g that position any the and a the I good Business, terms mid had a around spoke for suppose on I annual full little earlier we've and that Jack summer. of Josh very about for competitive but to mentioned In position bit

very So change delighted the currency. happy given Media way guidance given But we're is watching And the basis to we the that carefully. very in a underlying we're the presentational reaffirming feel on exchanges, the with foreign performing. Business be

Mike Hickey

reiterate guide did XQ Nick, your XX/X? you

Nicholas Taylor

bit even probably honestly by than now in of more QX a intra a impacted currency anticipate is at the the nuanced a or less in position. Not You'll closely backlog revenues quarter on haven't we proportion -quarter little impacted are exchange nuance we given just in that that be presentation the most threatening X.XX expect U.S. It's that, currency U.S. is have Obviously, and least this ones least foreign right split. to see the we with and mix around that revenue most QX given to the the revenue, position. presentational clearly, high which to because non-U.S. where that got quarter QX. actually it's non-geared the which we've are the

a currency million $X on presentational QX basis. position $XXX to million on the constant anticipate $XXX impacted currency, on million be most from So that to I'd a the

Mike Hickey

on how in what view are restrictions market at feed Last transitioning impacting to some of that restrictions market that line would to for marketing initial impacting market market me Okay. partners like, that initial Thanks, question it may for that moving from from The some hearing ability take How I'm out Thank on inside your and regulated guys. is had and market. is on least seeing operators there's here a starting from regulated you're now been shape get now restriction substantial your be Canada. you. just there. gray It to feels back obviously, the Canada? Ontario market? the a running curious we've

Jack Davison

additional Yes, us new we little new about calls. we adding it's costs. How earlier, for opportunities bit revenues we Mike, States this think on a as new Ontario That in Hi business on how Jack Yeah. open just previous of about ton gives another touched Ontario Davison. a state earlier up. touched as Mark on think without

across on sometimes a opportunities the point size what like from view the Betting Business, amount not app across of that's the [Indiscernible] will So impact huge the State of it's plays and [Indiscernible] do macro that acquire to [Indiscernible] do [Indiscernible] can they're able we them do but different an also revenues of them and level. tools lots that different opportunities a sorts about about of marketing ensure the in [Indiscernible] What can we for and to we is acquire give ways.

it the that Marketing through. get benefit the pushes the and more Business obviously, we deals up that core we right, as lot So Business, our immediate benefit they in set then gets long turnover get are, as which a are Betting of commercial as

enough rights for operators streaming NFL. for Ontario, interesting the AV in in So Canada

going a [Indiscernible] think to play [Indiscernible] it's it's that's to help Canadian quite interesting acquisitions. them is drive Ontario. big in [Indiscernible] going part handle. sports in handing think of going We We we think NFL that's drive So to drive handle,

have plenty for us with. So and work you to do [Indiscernible]

Mike Hickey

good luck. [Indiscernible]

Operator

and Ladies concludes session. today's gentlemen,

disconnect. now may You

Genius Sports Limited (GENI) 12 May 222022 Q1 Earnings call transcript