GENI Slides Lower on Big Q4 Miss
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GENI Slides Lower on Big Q4 Miss

Shares of sporting-related technology solutions provider Genius Sports (NYSE:GENI) are tanking today after the company’s fourth-quarter bottom line missed expectations and outlook failed to cheer investors.

Revenue rose 25.4% year-over-year to $105.3 million managing to surpass expectations by $1 million. Net loss per share at $0.63, on the other hand, missed the cut by a wide margin of $0.52. The company saw double-digit growth across betting and media verticals. Nonetheless, adverse foreign currency movement impacted its bottom line.

Looking ahead, for fiscal 2023, GENI expects revenue at the group level at $391 million. Adjusted EBITDA is seen landing at $41 million.

Shares of the company have already surged 53% so far this year. While GENI’s price-to-sales multiple currently hovers at 4.89, a beta of 2.13 means the stock can be prone o gyrations.

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