GENI - Earnings call 3 2023 | Genius Sports Limited

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Operator

Good day. My name is Rob, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Genius Sports Third Quarter 2023 Earnings Conference Call. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] I will now turn the conference over to Genius Sports.

You may now begin.

Brandon Bukstel

Thank you, and good morning, everyone.

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

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

Mark Locke

today. thank again raising Seventh of our full We're and joining year, guidance. results once are for this we Quarter. to you morning, the financial for And expectations report quarterly Good Consecutive happy the us ahead for third time year

territory of to adjusted into basis growth step year, expecting For cash with point last now start over demonstrate over to free the improvement along $XX positive we quarter. full we year, an flow margin EBITDA XXX% this million, XXX are as a

important profitability our the growth of these year achieved have most strengthen position partners. to milestones and ahead to execution throughout due continuing long-term our significant our disciplined with balancing We expectations whilst financial

financial strategic recently, near, now these us reiterate, and points. a we key cover emphasize long-term confidence, more partnerships we call, the the with renewals forward. On high-profile medium, secure today's opportunity path with new will through Our and announced few and provides to position even to topics that

discuss of lead are will stronger how technology. the growing deployment We relationships our through new

million, product unique the will detail [ completely this the our market We more including reported cash and and in exceeding is the Bet versus revenue $XX of let's nearly will million our This [ the adjusted sports of last flow we the $XXX of form guidance the revenue to million ], NFL how margin $XX XX% of guidance growth our $XXX and Vision year-on-year set, results million group betters start, expansion beating engage to recap X.Xx which translated review quarter. growth. Sportsbook EBITDA, representing revolutionizes on growth, partners. year. and launch its way and of ] financial group the EBITDA generation. To a accrues benefit our We free of from in with And steady provide innovative representing

consistently our quarter also each year. adjusted in margin EBITDA have We group expanded this

model line exactly what operating and market. grew is will to cover the performance X, XX%. operating further unique the model. Nick greater in we prior but GAAP quarterly the compared on disciplined of This by in from in improved of even our you to costs quarter this in type will as in up quarter, XXXX, expenses our we XX% section, lower reported demonstrating This again, see XX% top makes detail year, his the business leverage how Quarter remain business margins nearly

to the $XX year. the from guidance revenue XXXX XXXX of expectations raising in and Looking million ahead, of start $XX respectively, we year our EBITDA in represents and million X% full improvement $XXX margin full XXXX. EBITDA million, $XXX and meaningful initial the are well above year of This also at our million XX%

critical after free a to a positive Throughout reached cash HX. become also cash year, positive this flow And expectation have in flow point the in reiterated reporting free are Importantly, generation. we our group we inflection have we outlook. reaffirming quarter

outer ability margin ahead target remain to As confident we to long-term years, of EBITDA our the in the achieve also in XX%. we look excess

As earlier, along high and through our rights books, cost sports services and forward, is all extended a what broadcasters our customer fixed products demand just visibility with business: segments in as base of sponsors. leagues, I our mentioned confidence our going and gives NFL us particularly and have we for growing agreement brands the from renewed XXXX,

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engagement Vision streamers and total increased period. betting to XX% bets betting. we the week in vision the XX% XXX% also data Sportsbook longer-term our achieve should or seen have from to a X% expectations made to the that by partners. The handle [ handle Bet points by XX% of share since handle This is U.S. We've more volume Xx increased X% has growth ] and back bet X bets. own drives more clear This Vision higher in-play by from in-play were we is XX% streamers markets. to Bet in-play betting of XX%, volume from like streamers in historically our per was which share. of same mature highlight overall can bet seen XX% These dollar gaming is because from total we have than Of compares us vision for roughly number seen that how First, higher XX% streamer prematch our play the of that in in of in-play time revenue important to volume we revenue, demonstration

delivering hand results our Nick consistent the to at you near XXX% partners from we continue this as directly cost, better position more results these technology So a expectations. and our how now financial of drive no at higher and in to our financial have the and cover engage profitability. solidifying detail. share incremental within increase margin. To strategic in-play this of ahead is I'll close, into to benefit objectives, We're hopefully betting, of profitability therefore, revenue all translating leagues should call contributing better fans we understanding is our to our helping on

Nicholas Taylor

Thank you, Mark.

and of previous by and and period being revenue that years. of in we're the year, comparable product, heard which heard XX% pleased Mark, year-on-year last for the of them almost $X weeks. exceeded highest quarter. in operator guidance to margins the over ahead have growth our third the already $XX level lower growth, outperformance We despite in expectations This you adjusted report discuss million our the as this contributed year. Much the was annual million than You've few X numbers group win represented time EBITDA exceeded betting rate revenue the expectations our from

the across with Our driven of wins services the and industry new continued utilization global and performance growth in additional by partners betting customer content. of cross-sell through higher was multiple talents sports the our sportsbook globe,

X.Xx sports in last $XX revenue forward slightly behind of a year-on-year. On QX more beating our of only nearly million the $XX and Our QX, against we million of books, million, the said, was to quarter, XXXX. expected major we compared reported comps guidance XX% their to the type due media as with to call. of million, our guidance growth $XX adjusted EBITDA representing growth returned $XX group some That of in segment mentioned we've normalized growth strong our pulling mostly on advertising of basis,

of On of we the $XX the we in grown have the like have million to right-hand the adjusted throughout Slide consistent demonstrated to XX% I'd highlight our revenue growth $XX representing compared adjusted million. side margin last Year-to-date, year, by of incremental EBITDA XX, year. growth a EBITDA

by QX our XXX in each is margins improvement see beginning basis will points where this expanded QX margins basis each and You X,XXX driven over of said support the by that, significantly how adjusted our X,XXX well. revenues. can we points. higher as we X,XXX have EBITDA XXX In a basis and improvement before, year-on-year, improved is recently, our QX, on This have as year, cost we've nearly in of basis points. quarter, to to the by improved improved gross quarter margins a points gross margin basis true QX QX, in materially group structure This year-on-year. Most

you our down of cost on If the revenue, time at a sales X G&A you will Page look XXXX. for are R&D marketing, over XXth GAAP months see and comparable basis the from all ended frame the September, and XX,

discussed business, in proving our now this have the and are We leverage we this year-to-date of results. long operating

in guided, exchange where now $XX adjusted assumes X.XX, million to an of Looking last consistent expect ahead, deliver rate assumptions this quarter. group aim the in well And we EBITDA. we finish to our ahead year of revenue million $XXX and initially with and group

the with flow conclude to remarks positive balance sheet, balance expectation with will $XXX closing we of prepared HX. also quarter of ahead that, QX, be our Q&A. and in finished on open to million the maintained Importantly, cash the we our And and in our cash line we

Operator

Ryan first Sigdahl question Hallam. of Craig from from comes [Operator Instructions] Your the line

Ryan Sigdahl

Florida. I want to start with

customer? So you the they Are a seminal tribe do data the last week. Rock opportunity? that Genius about think Hard via app relaunched how And

Mark Locke

Mark. customers It's weekend, reported their moment. nuance They've in sort that it's And only news. obviously, some gone at to the with Yes, -- launch customer. live We downloaded are have they app. They've data a with good very their launch. of the this historically

the begin opportunity, think sort at cautious positive. So with. And moment, significant it overall, we we've viewing very, very is positively been this we're to but of very a just

just our sort underlying probably demonstrates the operational business state The mentioning leverage worth other a really model thing new and on that's is as it of comes board.

additional able XXX% drops virtually immediately cost, it are at We products to support that state at near margin us. with no through so for extra

Ryan Sigdahl

just And prepared metrics then you of on I couple those appreciate week in remarks. gave bet the first vision,

of with? guess, leverage needs big books I kind besides happen books sports the use or that, to your original it? changed that that to then And price that, get that X negotiating other what Given the asking guess, you launched has X sports second I to with to

Mark Locke

only with the our augmentation bet is at with behavior. right changing beginning, vision, said about and it's user about wide ubiquity products, not it's this I've Look, the but

those a close start wider we're I to said renewals moment next really And have coming part got any going relationships positive over through process those sports negotiations that a the up be period. is times be a we I've think number of will are books. of the we've going at and that with contract obviously, of this renewals.

second was question of The remind other your you part -- me question sorry, the had?

Ryan Sigdahl

sports you answered think. there's And mainly Yes, I you anything, the it. answered if I kind big guess, in was to of put just It X books.

Mark Locke

about positive Look, good about position. that. We're super we our Yes. feel feeling

Operator

McTernan line Company. comes from of next question Your the Needham & Bernie from

Bernard McTernan

ESP thing, impact that but thoughts for how the Maybe on Any will business just the hard bets launching. on rock question, contemplated a in XQ what's the same and and follow-up guide?

Mark Locke

bluntly Yes. got. again, thanks leverage underlying They very question for but see And opportunity same customer, are again, of mean, operational good and business. we've and sort I that, for exciting answer. we the highlighting that the a the as

Nicholas Taylor

any on positive as in season the U.S. are us. the difference revenues to or term Mark of still XX% well, X significant call, you for don't the Nick. as know weeks we're dealing these and alluded X of long-term outside very guide, being our It's it with, what, last in And the specifically trends They make short QX were the when of

Bernard McTernan

then former in product? of the And many Understood. ] that's Tintos CTO changes hire [ happening Can with the about [ Mediabas be some ]. going of of just to developments talk the advertising you or

Mark Locke

fairly very been think about mean, I I advertising growing over our obviously Look, strategy Yes. It's market in time. nicely. I've clear the

for respected I of he's in business brands, part a platform of business. the for coming focus it's is expecting of come of through big out are results. that market, the really the hire our a it. us. ad we're us, been of is, big ad development incremental platforms the again, [ is mean, Manny for and and big a There's part tech and well of growth tech development the our of pioneer from there. seeing technology platform the focusing a our tech He's You've a we're our the real seen we're ad fantastic and that on. Clearly, what And very sort the in ] number agencies of tech development bangs value And strategy. no big in

is working with ] hire, to Manny him. a we're really excited [ frankly, -- we're So great and be

Operator

the Bender line Your next Jordan from from JMP Securities. question of comes

Jordan Bender

from evidence Or people seeing kind are incremental those watching? seeing those X watching are enough you they there Are players Are the screen of you betters? coming say viewing? traditional -- to is for bet -- vision, cable

Mark Locke

data cautiously and I and small second the to specific focused screen think in on talked a of between a is any Yes. Vision historically the be product too this I is And about the very additional cautious results be incremental positive. One There's obviously cable mean, it sample want the worth sets clear, what -- we're you a play. about probably thing We've whilst rolled value want experience. vision. may Bet But incredibly sort interesting that are sizes, of of is. lot we're we we be shift a lot they out we with that are Bet about of augmentation. initial to with that just because sort not don't saying sort about have -- to crossover we of take that's treating obviously

of page. market leave point frankly, a good we're way are of taking to in something be the European that sort large in books made helping also example good a the sort in much players a -- positively. a we're more call, higher. comment of sort U.S. the in growth a focused that, made play just of better seeing time, we've bookmakers in-play My from players the at homepage results [ what that And sophisticated think, from a in their play. And sports very of market of mature The very is We I on pre-match is bookmakers, lot to home drive transition. the you is from betters months is proof NFL helping the come to didn't even sort betting are said their remind by of market that transition how products. through or who we're to were is market really all the from ] people this expect was and That's really roughly bets much consistently Angel helping XX% on to of that the in-play same And the that people that to remember, growth. -- going announced ago, a if of XX% few bets their product-led players

line, about second of the product we're incredibly spectrum. very excited we're strength product. in So It the demonstrates strength And the again, received market. it seeing this augmentation well

Jordan Bender

forward And fill company. you're talk then leave are kind to having you of seats? what the Great. just board those guys to several you looking members Can

Mark Locke

looking...? say we're Can you again, Sorry.

Jordan Bender

looking the those Yes. for, Can to looking talk you you're of that of seats? who fill guys the board people just you're kind qualities for to

Mark Locke

very good natural is This we as a end mean, job and board for very to I members company. it's of a have strong board, the the Look, done Yes. come their a transition terms.

we're of continue guess, to the company. the mature scale to to markets business forward, growth the people the support I provide ability the sort and looking as company, obvious with public all for, continued leverage a in us and Going of public

through. running, process of is we're I So now an mean, it's the quality we excited some and the coming that active of about are candidates

Operator

question comes line next of Joshua from Your the Oppenheimer. from Maran

Unknown Analyst

books there remind you have on exposure with soccer to sports Could add there? European any your color out? other called competitors and holds Is us that

Nicholas Taylor

Nick. Josh, it's

business Our massively European exposed isn't hold. to

issues sort As European our us you don't our individual of known for know, revenue on what's most have as or fee in And basis. individual fixed recognition. therefore, is any of a business results terms weekends of significant

Operator

from comes line & Hickey question next of Mike Benchmark from Your Company. the

Michael Hickey

cash great afternoon, congratulations. good see flow to quarter. Guys, free Nice that

One on questions. bet X Just vision.

is add I Just to curious over for margins as you mean, beyond about think Incremental materiality can leagues, how and/or within think other you operators time think component if you question sports more you the impactful besides double-click you scaling you clearly, could there it's what think on that. on add I you Mark, whether a how off about, obviously, that maybe have But you product scaling it's how product, asked it, operators your charts. about should get the the it's guess, we you model. here. that? Second scale working 'XX, and obviously, that

how the primary their efficiency, head count. curious about OpEx, is margins reducing look think you at growing, but So here taking obviously, are optimizing peer another your they're

Just you curious you and there's about think how overall if can thinking OpEx efficiencies you're find? your

Mark Locke

Okay.

Let's sort quite of those -- in there's take there. backwards. lot a because

about [indiscernible] mean, and I kind of really operational before, really through of as said business, the nicely. the I right. yes, It demonstrating, in look, happy of I mean is terms coming really you're they're leverage So margin, we're in incremental that. sort

the well. We've rightsized. small outlay. of the we In anything, cost feel at the in period. And I underlying moment, rightsize if terms the look of seeing and the careful may potentially we very cost scale the managed over reduction been base about capital And of and lot the what of doing of been reason there. really business future, And a a a is because in of growth business, is had do the focus that the in business we've able when business, that we're sort we we're we're business control. we a to of spectrum bought at that lot a an even think very We've awful the lot of in second the that it. some bought lot investment the

a that lot out the of to there's and learning move space. So companies vision machine there AI are into trying computer

I to certainly, money. But of think if a it's you to that, to trying you it's are very that. difficult spend lot do need the case do even

lines. we're foreseeing in those in the cost any way we'd be with spent moment, learning, at I'll view, on of invested bet from that in Now money. has AI, technology been growth, that's computer a in $XXX second we've million, some will, probably way. delivering think, of know we're think sized the feel the over to operating we We that hard be it we're potentially material second doing changes now But it's -- vision. we're already point lot come sort really which revenues if of feel augmentation, right business. We We of anything, our I machine really and operated vision, not the and way right I of spectrum the reducing major a delivering

value. the faith was in talk of think of Bet mean, sort bit correctly about frankly, there to we're way cautious in And the been about of of with product different a sure customers scaling, of is there that are many trying that that I again, today, success about to and and our are has to X metrics again, here main -- real obvious, that augmentation that, On give as it possible. we you And that me highlighted that product products question, ingrained lot although a same them, look, highlighted and in operators. the augmentation again, one it. do value And see that with areas of some the that. starting customer making lot as to and number the behavior, Vision distribute in changes having people terms results, we've a gets being model are we the Vision the shared are that Bet I is

mean, part the technology In terms our huge people. recently of because always focused the of NFL I worth the on base. obvious is not obviously, work not our also a highlighting maybe Premier done partnership is we've to only sports, that League is NFL. But clearly, productions it's the with

you'll to second they're they Peacock or to broadcast jurisdictions -- the have arm distributes augment different used soccer is soccer have which League streams on [ soccer production, a that spectrum taken states, sophisticated second sorry, they are Premier product ]. that, multiple spectrum again, see -- using We very broadcasters that selling commercial their that in, have global the they European U.K. to and in including

specifically But that we you it reason additional is, capabilities that for in to firstly, that's gives with is, good us which broadcast our the So sports. it again, second also goes the the interesting spectrum us. market -- of technology, shows it vision, have is terms

is is obviously and available done. Basketball soccer in us. that to is we're something something So we've as very well sophisticated

advertising So there. we've with got sponsorship is of and the Bet The that's the the Vision sort stuff of some obvious work. augment ability of around to probably sort area left X

we advertise but to their gives putting Now own target, to bookmakers either themselves. We customers. out to clearly, open activate ability create is there. content these potentially that us the and the content, bringing augmented partners new also for effectively new streams

sort period. answers over So that's Hopefully, another be that stream on into of of the the business that Mike. that, coming we'll question looking

Michael Hickey

was that only about maybe be how more you've impact. in was about [ -- rights we impact. more -- days but for great. term? Obviously, the medium but guess, feed here, level the or stickiness not thinking about and of driver if be you piece thinking piece thinking 'XX you Mark, should obviously only too or think other That's But we should qualitative, a can will Yes, The early if it's the math. I be same this got ] how whether you're other just

Mark Locke

Look, Yes. parts guess. of there's I X mean, I sort to that,

for of is mean, prematch shift clear first focus about sports a betting. remind The X% play of I and you, is and us between the betting X.XX% somewhere U.S. X% in-play we in just take to

handle the of But the Vision somewhat not in Xx also my in volume only do share in went we're that. through amount taking you Bet I or X, of increase remarks. through the product, an see So increase as

And a -- our growth we'll indicate compounding some there's in coming numbers of out within be some and the future, obviously that's that's what So of will contained terms effect in the the that. of that there business. material obviously the that of to business

Operator

from Your Bazinet next the Jason from question of comes line Citi.

Jason Bazinet

a X my break very work for delivering X are track good or about of guidance. consistent guidance X things your you could that curious 'XX? I'd or the X factors things XXXX. that quarter you have way or swing or we year. be what the as are against Like are of And in sort of ahead next think your think I next financials as question guess record guys You terms offering up is, we that

Mark Locke

not -- combined renegotiations with predictable. new we've that year think having of us I'm the but sort NFL number of got right over good of products the And talked also terms clients, you the coming I is U.S. us visibility that function our with books. really in And cost XXXX through Yes. sports way is cycle of with track of, right we an I a the structured sure saying the that business our that bookmaker vision, underlying such as year a over there's underlying reasonably we've for the about addition a appreciate record. I Look, you're contracts. strong base, renewals of that's important really guess,

those So got us. been of time. are very doing negotiations important contract to very very this track Again, with our good partners record long We've deals. we've a a doing

ongoing we mutually to how So on basis. beneficial understand partnerships structure an

of pricing us. is function that focus a So is a

really important things don't side, to rights I the got they into paying our got be I over of obviously, the grip cost again much our that is be got what it to management. And do the allows the comes -- times, said generating that that with One cost of think got to a and going good to that our very many or our deal know is visibility. diligent We've And the we've how good out on us we've coming think something I'll future, again. cost marries highlight that to to the is And participate in strategy be if Again, that years. if growth. deals. we're I've visibility. We got reasonably there with rights But particularly here comes we're deals many, with important, partners we'll we've going to think think go underlying of up don't straightforward. incredibly very base. everything it's need do we good that we I do a that, We've say it then other Means we frankly, combined need. it only expect we any rights fact up profitable it.

So that. good again, quite about we feel

So of It's like partnerships. of But our an strength moment, we some We predictable is XXXX in we around the for are not understand got at incredible the commercial equally, a renegotiations. us. where product. we've without some feel year risk highly

success So that have I a we -- that would will that in lot think of basis. on

Jason Bazinet

on ask known will unknown? The side, contracts give those just contract the it by knowns known 'XX guidance? Or revenue sort will timing you follow-up. those I of time renewals Can the be X be of

Mark Locke

unknowns. known are They

know. we We will don't not -- we know that

until the that frankly, the will lot into case, and -- a So year. be further

Operator

question the next BTIG. Lamb from comes Clark of Your from line

Unknown Analyst

-- I question. X got I'll guess, cash. of free you're back unknown to sort ask Nick, generating I've another,

services You just of product improve time? something renegotiation resources? guess sort to of new that future over look I of this thinking process. we're could Would sort sheet you internally curious, value of sort with about part about the of sort this partner stages might the I'm own sort as That's balance one. think and build boost question you as with to approaching exchange of more value your highlighted product and you exchange. renegotiation of of how incremental Is use

Nicholas Taylor

it's continue new balance, guess, about answer. Clark, products. Yes. absolutely probably that It's the to We will to headline Nick. I develop is

platform drive and back to a the a and enables us good Mark from making our the really looking it's revenues was vision we're products the leadership -- that more question by products. the Mark live X in the that it's business. that financially looking a touched a side. about the getting I then doing on that's recruitment answered the sure on headline as use the of then we sure earlier about about that so is But will further further books are things we're how mean making to ourselves going where really out of within earlier and Again, develop great senior sports Indeed, exactly we're Mike's there We to going disciplined as question we area. means. answer balance, that develop it of our just really my ingrain betting same to example to it. That's it side. kind all getting used And be media at technology it and in is And from

Unknown Analyst

then Third And Josh, for sounds little the ad customer front-loaded bit of Understood. on business in was more a like maybe Quarter spending. endemic it terms the

Are customer thinking sort seen a current you quarter, more we're implied supports have the or seasonal that customer cohorts. of pickup with of of about push spend seeing underpins the in for that? sort a you maybe acceleration As brand

Josh Linforth

we're the sports the big and sort area that quarter, the business a to we then to that us touched significant good QX bedding in see think well of particularly being be brand spend the a space Yes, our hiring of there I have grow brands for that's that. We're on of in as we the expect consistent I as mean business, the and because the here. it quarter -- sport. continue as -- area book question, to that with I some your in advertising. look And around QX, mean, seeing for business that of to spend focused of and so. much continue traditional QX pretty I seasonality specialism. has the people very progress continue for lot outside in sort endemic sort a always It And and Josh It's been it's will around terms of answer sports be is on seeing. to

Operator

comes from Street. from question Martinuzzi of Lake line next the Eric Your

Eric Martinuzzi

Yes.

On you've be think know but helpful. And cash was year, number X your flow what the just for historically projections, curious to $XX I those for said capitalized expectation the the million around the numbers I is year. would for CapEx software

Nicholas Taylor

development a $XX spending quarter million really, right. XX running probably to capitalized last the on level at expecting be that at been similar Yes, been you're or sort about costs, has We've that of X for around position. -- certainly of months this and

going in for nothing be relatively So is about $X but be it around the to than the to it's quarter might going that. million $X more -- CapEx be quarter, million. $XX or million

Operator

from Your Fitzgerald. next of question Brett comes the Cantor Knoblauch line from

Brett Knoblauch

guess have I I X.

performing to other maybe highlight on additional your Rugby World a was that? and GGR Technology there. more? announcements, segment, you drive then of revenue? what play? business the just for Or outperformance little at maybe drivers perspective? First, better media think long maybe Is Bedding were the maybe means base about factors kind maybe from how Ryder Or building revenue on term? more rate of medium could parse NFL we a Cup that bit a it Or win that over Was to Cup the the the that the Could should a And there you perspective? behind out it

Nicholas Taylor

and first for hand I'll the to second piece. take part, over Josh the I'll

On that talked you've really across XXXX. about the before. levers us And we've right seen multiple those particularly we've always look, in business about, talk the piece, the and of heard about growth, seeing first -- betting

the also growth So well. as it's -- and the encouraging thing world across for us is

really and customer both seeing. mix year-on-year. pricing coming utilization coming European are the XX% things also European of up from we're additional but that's a coming from wins, coming that And from it's and business think markets, from the in that's it's I new Americas services

board, I So of right happy of that benefit accounts a very exchange. a small tailwind proportion out exchange from you we're small it strip business. events. think with the I'll is underlying across foreign the up those seeing let biannular foreign growth, for once and international around growth within that Josh And growth. the around pick XX% the There's we're about the specifics

Josh Linforth

Yes. us World I having continuation those it's with and Cup for are just sports really a sticky relationships Ridout mean, partners. our relationships Rubbery of us, with

take sponsorship the able all host strategy. their our but fans NFL. that ton built people we FIFA helping a to and audience we and understand reminder, do the around a reasons back those from whole overall part It's And for the partners communicate our Cup there's World us. being As products platform, into feeding better. their a that to models of of of stuff

Operator

Farley Instructions] Your from [Operator of comes next question line from the Robin UBS.

Robin Farley

FX X it revenue One last year added guidance, full the quarter, think questions. had your outlook. is, in that you I use to your had you updated I rate and had

you didn't current update for This didn't rates. quarter, FX you change,

revenue guidance, about earlier you also just clarify I'm which so that for be comment then what QX? And you did, known to And on if the can unknown. the this would quantify the have would just I impact wondering guess point at

impact negotiated in they you know just about were know XXXX? would In those until guidance? wouldn't until are won't become not XXXX? that those be terms your XXXX, terms new effective? terms that we words, when would effective talking new in You Or later other initial do And

Nicholas Taylor

Robin, of Most contracts roll mid-summer, the new season. the around the about the the QX. Mark's of unknown part the I'll NFL other the question right, Easter, for of talking start around of out about unknowns, terms just take negotiations, I while think the really remember I of in this was question. way Jason's second around end

doing will effective about 'XX, them be than of the 'XX will at anticipate when be they full the So year 'XX last rather we but we'd it which months knowing few to guidance, results. give

so foreign was exchange below Actually, that the current to given X.XX. right XX. actually On -- we the FX X Robin, is around are now around about question about your piece, guidance to now

original think not we exchange related. I of I sort $X course XX% that year. position in $X million the called relation which the had million So at originally QX is the to of out there's those And reported, couple think, to we've which XXX, it I the just that position. When exchange, quarters, think of purely of at last to start got risk moved mainly look the a the at I with we've numbers guide foreign why was foreign on we've I over

of the to So the to outperformance as ] the [ outperformance XXX underlying XXX business.

Operator

And there conference at are time. today's further participation. call. Thank no concludes This your this for you questions

disconnect. now may You

Genius Sports Limited (GENI) 13 Nov 232023 Q3 Earnings call transcript