Genius Sports revenue jumps 65% to $195.5M as Legend deal widens loss

Genius Sports (NYSE: GENI) reported second-quarter revenue up nearly 65% to $195.5 million, beating guidance and prompting a raised full-year outlook. The results reflect its first full quarter with Legend, a digital sports media network it acquired on May 1, 2026. The company also posted a wider net loss of $76.7 million, up from $53.9 million a year earlier.

Genius supplies official data, integrity services, and technology to sports leagues and sportsbooks. The Legend deal aims to pair that data with a high-intent media audience, creating a closed loop to win customer acquisition for betting operators — a costly part of their business.

The impact landed fast. Revenue in the Media Technology, Content & Services segment rose 193% year-over-year to $78.2 million.

The deal drove most of the loss. Costs included $28.9 million in non-recurring transaction expenses, $13.8 million in interest on the term loan used to fund the purchase, and an $8.0 million loss on contingent consideration. Stripping those out, loss from operations improved by $25.1 million year-over-year, pointing to a more efficient core business.

"In our first quarter as a combined business, we exceeded our guidance on Revenue, Adjusted EBITDA and cash, raised our full-year outlook, and are already seeing the benefits of the Legend integration," chief executive officer Mark Locke said.

Genius also announced partnerships with Polymarket and Kalshi, two leading US prediction market platforms. By supplying official data, integrity services, and exclusive streaming content, it is positioning itself as core infrastructure for the adjacent market — what Locke calls an "entirely new avenue for growth."

The prediction markets remain contested territory. State regulators and the federal Commodity Futures Trading Commission are still weighing whether these platforms count as gaming or financial instruments, leaving the expansion exposed to legal uncertainty.

Genius is betting that expensive, debt-funded acquisitions and moves into prediction markets will cement its role as the essential plumbing of sports data. The top line proves the growth engine works; the widening loss shows the price of the gamble.