Genius Sports Limited (NYSE:GENI) Q1 2023 Earnings Conference Call May 9, 2023 8:00 AM ET
Company Participants
Brandon Bukstel - Investor Relations
Mark Locke - Chief Executive Officer
Nick Taylor - Chief Financial Officer
Josh Linforth - MD, Media & Engagement
Conference Call Participants
Jordan Bender - JMP Securities
Jed Kelly - Oppenheimer
Bernie McTernan - Needham & Company
Clark Lempen - BTIG
Ryan Sigdahl - Craig-Hallum Capital Group
Michael Hickey - Benchmark
Operator
Hello. My name is Jean-Louis. Welcome to the Genius Sports First Quarter Earnings Results 2023. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]
I will now turn the conference over to Brandon Bukstel, Investor Relations.
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 risks 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 discussions in our filings with the SEC. Including our annual report on Form 20-F filed with the SEC on March 30 of this year.
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 U.S. GAAP. A reconciliation of these non-GAAP measures to the most directly comparable U.S. GAAP meters 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 the call over to our CEO, Mark Locke.
Mark Locke
Good morning. And thank you for joining us today. We're happy to begin 2023 on a positive note, continuing our momentum from the past year. We noted last quarter how 2023 will mark a key turning point for the business, as we triple our EBITDA profitability and generate positive free cash flow in H2. Our first quarter results prove that we are already well ahead of our expectations giving me even greater confidence in the year ahead.
We hold ourselves to a high standard of accountability to our shareholders and in once again delivering results ahead of expectations for Q1 2023. We feel confident enough to increase our full year guidance to $400 million of revenue, and $49 million of adjusted EBITDA, significantly ahead of where we guided at the start of the year. We will come back to the multiple ways Genius wins, but for now the operating leverage of our business model is now demonstrably coming through and the strategic position we find ourselves in remains as strong as ever.