# Genius Sports (GENI.US)

Canonical: https://gigainvestors.com/s/GENI

Analysis as of: 2026-10-16T07:28:44.172Z. Financial observations: FY2018–FY2025.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $6.58 per share; close as of 2026-10-15.

## Checklist

### understandable: fail

- 0 revenue declines in the last 10 years (informational)

- more than 2 net loss years

- negative average operating margin

- operating margin variation exceeds 0.35

- Financial history: 8 years

- Years with declining revenue: 0

- Years with a net loss: 8

- Operating margin variation: 1.35×

Chart: Operating margin; fiscal year observations.

- FY2018: -0.20×

- FY2019: -0.32×

- FY2020: -0.14×

- FY2021: -2.18×

- FY2022: -0.53×

- FY2023: -0.18×

- FY2024: -0.11×

- FY2025: -0.21×

### moat: fail

- Years with nonpositive invested capital use equity plus debt and leases; positive earnings with no positive capital are shown above 100%.

- ROIC median below threshold

- ROIC worst years below threshold (more than 1 bad year allowed)

- ROIC, median of available years: -34.2%

- ROIC, second-lowest year: -86.5%

- Typical minus recent gross margin: -0.4 pp

- Typical gross margin (annual median): 22.5%

- Recent gross margin (lower of latest and 3-year median): 23.0%

- Years with nonpositive capital: 1

- Capital spending / revenue: 12.6%

- ROIC including acquisitions, ten-year median: -11.6%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2018: -11.6%

- FY2019: 0.0%

- FY2020: -18.1%

- FY2021: -329.5%

- FY2022: -86.5%

- FY2023: -36.3%

- FY2024: -32.2%

- FY2025: -81.9%

### economics: fail

- owner earnings cash conversion below threshold

- incremental invested capital return below threshold

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: -$906M

- Net income, five-year total: -$1.0B

- Return on incremental invested capital: 0.0%

- Working capital / revenue, annual change: 0.2 pp

Chart: Owner earnings · five years; fiscal year observations.

- FY2021: -$567M

- FY2022: -$164M

- FY2023: -$57M

- FY2024: -$55M

- FY2025: -$63M

### management: fail

- buybacks unrelated to price (informational)

- ROIC first 3 years vs last 3 years: -11.6% vs -36.3%

- Per-share earnings: -0.17 to -0.38 (three-year endpoint medians)

- per-share value declined or ends nonpositive

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 5-year annual growth: 7.4%

- Diluted shares, 5-year annual growth: 7.4%

- Per-share value change: -$0.21

- Per-share value, starting three-year median: -$0.17

- Per-share value, ending three-year median: -$0.38

- Buyback history: 0 years

- Debt-funded buybacks: No

- ROIC, first three-year median: -11.6%

- ROIC, last three-year median: -36.3%

Chart: Earnings per share; fiscal year observations.

- FY2018: -$0.14

- FY2019: -$0.23

- FY2020: -$0.17

- FY2021: -$3.93

- FY2022: -$0.93

- FY2023: -$0.38

- FY2024: -$0.27

- FY2025: -$0.44

### accounting: pass

- stock compensation exceeds 15% of operating cash flow

- Sloan accruals: -17.5%

- Receivables to sales index (DSRI): 1.15×

- Restructuring years, last five: 0

- Stock compensation / operating cash flow: 171.9%

- Earnings backed by cash: Yes

- Accounting red flags: 1

- Goodwill and intangibles / equity: 0.67×

Chart: Sloan accruals; fiscal year observations.

- FY2018: -9.4%

- FY2019: -11.4%

- FY2020: -12.1%

- FY2021: -59.7%

- FY2022: -23.5%

- FY2023: -12.9%

- FY2024: -18.3%

- FY2025: -17.5%

## Holders

- [Samantha McLemore](https://gigainvestors.com/PTNT): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 65% since Oct 2021 · "Genius Sports (GENI): Reassessing Valuation After Lowered Cash Flow Outlook and Auditor Switch Plans" (finance.yahoo.com, Dec 2025) · sales +31%

Story as of 2026-10-16T09:58:48.664Z; price observation 2026-10-15.

- 2025-12-04: Genius Sports (GENI) Soars 12% as Firm Bares 2028 Growth Targets ([finance.yahoo.com](https://finance.yahoo.com/news/genius-sports-geni-soars-12-175515074.html))

- 2026-05-04: Genius Sports Expands Media Reach With Legend Deal But Takes On Debt ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/genius-sports-expands-media-reach-201344605.html))

- 2026-08-06: Genius Sports Beats Second Quarter Guidance and Raises Full-Year Outlook ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/genius-sports-beats-second-quarter-110000410.html))

### Sales · FY2024–2025

sales +31%; source https://www.sec.gov/Archives/edgar/data/1834489/000119312526110749/geni-20251231.htm; observed 2026-03-17.

- FY2018: $88M 

- FY2019: $115M 

- FY2020: $150M 

- FY2021: $263M 

- FY2022: $341M 

- FY2023: $413M 

- FY2024: $511M 

- FY2025: $669M 

### Gross margin · FY2025

gross margin 23%; source https://www.sec.gov/Archives/edgar/data/1834489/000119312526110749/geni-20251231.htm; observed 2026-03-17.

- FY2018: 40.9% 

- FY2019: 22.1% 

- FY2020: 23.8% 

- FY2022: 0.8% 

- FY2023: 16.7% 

- FY2024: 25.2% 

- FY2025: 23.0% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in internet content & information; annual sales are USD 669.5 million.

- Source: https://www.sec.gov/Archives/edgar/data/1834489/000119312526110749/geni-20251231.htm (filed 2026-03-17); FY2025: revenue 669489000; grossProfit 153842000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); GENI.US: Genius Sports Limited provides technology-led products and services to the sports, sports betting, and sports media industries in the Americas, Europe, and internationally. It offers technology infrastructure for the collection, integration, and distribution of live optical tracking, event data, and video for league's operations; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services. The company also develops additional tools that help sports leagues deepen fan engagement; and digital content and gamification solutions, as well as provides consumer insights and fan intelligence services. In addition, it provides live sports data collection; pre-game and in-game odds feeds; risk management services, including customer profiling, monitoring of incoming bets, automated acceptance and rejection of bets, and limit setting; and live streaming services. Further, the company offers BetVision, an interactive single-screen live streaming solution that provides integrated bet slip, real-time team and player statistics, personalized, and augmented viewing modes; and FanHub, an advertising solution that helps in creation, delivery, and optimization of digital marketing campaigns, including data-driven personalized ad creative and programmatic media buying. The company was formerly known as Genius Sports Group Limited and changed its name to Genius Sports Limited in April 2021. Genius Sports Limited was founded in 2001 and is headquartered in London, the United Kingdom.

### Why customers stay

Margins ranged from 16.7% to 25.2% during 2023–25; it lost 34.2% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); FY2023: grossProfit / revenue = 16.7%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); FY2024: grossProfit / revenue = 25.2%.

- Source: https://www.sec.gov/Archives/edgar/data/1834489/000119312526110749/geni-20251231.htm (filed 2026-03-17); FY2025: grossProfit / revenue = 23%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); 8-year return on capital observations [[2018,-0.11631599627576428],[2019,0],[2020,-0.18097105773209346],[2021,-3.294541936422492],[2022,-0.8652440071080594],[2023,-0.36302404263229643],[2024,-0.32182884224591485],[2025,-0.8190655021193588]]; median -0.34242644243910564. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 1 of 8 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); Dividend observations: [[2018,0],[2019,0],[2020,0],[2021,313162000],[2022,0],[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 9.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); GENI.US SharesStats.PercentInsiders = 9.093 percentage points; cache date 2026-10-15.

### What the price says

The price is 2.5 times annual sales; cash earnings are negative.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-17); Closing price 6.58 USD; reporting-to-trading FX 1; FY2025 annual sales per share 2.627943068844659; price multiple 2.50385941689856. FY2025 cash earnings/share -0.24695220129116988. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2020-10: $10.05 per share

- 2020-11: $11.05 per share

- 2020-12: $17.59 per share

- 2021-01: $20.75 per share

- 2021-02: $19.04 per share

- 2021-03: $14.71 per share

- 2021-04: $21.10 per share

- 2021-05: $24.10 per share

- 2021-06: $18.77 per share

- 2021-07: $17.12 per share

- 2021-08: $20.51 per share

- 2021-09: $18.66 per share

- 2021-10: $18.54 per share

- 2021-11: $9.51 per share

- 2021-12: $7.60 per share

- 2022-01: $6.48 per share

- 2022-02: $5.65 per share

- 2022-03: $4.60 per share

- 2022-04: $3.82 per share

- 2022-05: $3.06 per share

- 2022-06: $2.25 per share

- 2022-07: $2.59 per share

- 2022-08: $4.10 per share

- 2022-09: $3.67 per share

- 2022-10: $5.14 per share

- 2022-11: $5.12 per share

- 2022-12: $3.57 per share

- 2023-01: $5.49 per share

- 2023-02: $4.84 per share

- 2023-03: $4.98 per share

- 2023-04: $3.71 per share

- 2023-05: $5.72 per share

- 2023-06: $6.19 per share

- 2023-07: $7.84 per share

- 2023-08: $6.64 per share

- 2023-09: $5.33 per share

- 2023-10: $4.88 per share

- 2023-11: $5.55 per share

- 2023-12: $6.18 per share

- 2024-01: $6.71 per share

- 2024-02: $7.11 per share

- 2024-03: $5.71 per share

- 2024-04: $5.04 per share

- 2024-05: $5.24 per share

- 2024-06: $5.45 per share

- 2024-07: $6.83 per share

- 2024-08: $7.62 per share

- 2024-09: $7.84 per share

- 2024-10: $6.85 per share

- 2024-11: $10.04 per share

- 2024-12: $8.65 per share

- 2025-01: $8.83 per share

- 2025-02: $8.68 per share

- 2025-03: $10.01 per share

- 2025-04: $10.79 per share

- 2025-05: $9.59 per share

- 2025-06: $10.40 per share

- 2025-07: $11.25 per share

- 2025-08: $12.79 per share

- 2025-09: $12.38 per share

- 2025-10: $11.26 per share

- 2025-11: $10.07 per share

- 2025-12: $11.02 per share

- 2026-01: $8.70 per share

- 2026-02: $6.21 per share

- 2026-03: $4.43 per share

- 2026-04: $4.36 per share

- 2026-05: $5.86 per share

- 2026-06: $6.06 per share

- 2026-07: $6.93 per share

- 2026-08: $7.42 per share

- 2026-09: $5.73 per share

- 2026-10: $6.58 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/1834489/000119312526110749/geni-20251231.htm); period 2025-12-31, filed 2026-03-17.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [Samantha McLemore](https://gigainvestors.com/PTNT): 812,819 GENI shares; USD 4,926,000 reported position value; 0.16% of portfolio; new; quarter 2026 Q2.

# GENI — Genius Sports Ltd

Held by 1 investor · USD 4,926,000 total · 2026 Q2 · reported price USD 6.06 (split-adjusted).
Page: https://gigainvestors.com/s/GENI

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Samantha McLemore (https://gigainvestors.com/PTNT) | USD 4,926,000 | 0.2% | new |

## Total held by quarter

- 2026 Q2: USD 4,926,000 · 1 holder · USD 6.06