Genius Sports Limited (NYSE:GENI) Q2 2023 Earnings Call Transcript August 7, 2023 8:00 AM ET
Company Participants
Brandon Bukstel - IR Manager
Mark Locke - Co-Founder and CEO
Nick Taylor - CFO
Josh Linforth - MD, Media & Engagement
Conference Call Participants
Jason Bazinet - Citi
Bernie McTernan - Needham & Company
Ryan Sigdahl - Craig-Hallum Capital Group
Jed Kelly - Oppenheimer
Clark Lampen - BTIG
Jordan Bender - JMP Securities
Mike Hickey - Benchmark Company
Eric Martinuzzi - Lake Street Capital Markets
Operator
Hello, and welcome to the Genius Sports Second Quarter Earnings Results 2023 Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] I'll now turn the conference over to the Genius Sports. Please go ahead.
Brandon Bukstel
Thank you, and good morning. Before we begin, we'd like to remind you that certain statements made during this call may constitute forward-looking statements that are subject to risk that could cause our actual results to differ materially from our historical results or from our forecast. We assume no responsibility for updating forward-looking statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and risk factor discussion in our filings with the SEC, including our annual report on Form 20-F, filed with the SEC on March 30th, 2023.
During the call, management will also discuss certain non-GAAP measures that we believe may be useful in evaluating Genius’ operating performance. These measures should not be considered in isolation or as a substitute for Genius’ financial results prepared in accordance with US GAAP. A reconciliation of these non-GAAP measures to the most directly comparable US GAAP measures is available in our earnings press release and earnings presentation, which can be found on our website at investors.geniussports.com.
With that, I'll now turn over the call to our CEO, Mark Locke.
Mark Locke
Good morning, and thank you for joining us today. We're pleased to continue our strong momentum through the first half of the year as we successfully executed on our strategic and financial plan. We began 2023 by telling you that this will be a key inflection year for our business as we expect to triple our adjusted EBITDA profitability. With the first half of the year now behind us, the $24 million of adjusted EBITDA we delivered year to date is more than four times what we reported in the first half of 2022 and our latest full year guide, which we are again raising today to $52 million is now 27% higher than the $41 million guide to the start of the year.