Genius Sports Limited (NYSE:GENI) Q3 2023 Earnings Conference Call November 13, 2023 8:00 AM ET

Company Participants

Mark Locke - Chief Executive Officer

Nick Taylor - Chief Financial Officer

Josh Linforth - Chief Revenue Officer

Conference Call Participants

Ryan Sigdahl - Craig-Hallum

Bernie McTernan - Needham & Company

Jordan Bender - JMP Securities

Joshua Marin - Oppenheimer

Jason Bazinet - Citi

Clark Lampen - BTIG

Eric Martinuzzi - Lake Street

Brett Knoblauch - Cantor Fitzgerald

Robin Farley - UBS

Operator

Good day. My name is Rob, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Genius Sports Third Quarter 2023 Earnings Conference Call. 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] Thank you.

I will now turn the conference over to Genius Sports. You may now begin.

Unidentified Company Representative

Thank you, and good morning, everyone.

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 can 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 statement 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, 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 U.S. GAAP. A reconciliation of these non-GAAP measures to the most directly comparable U.S. 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 the call over to our CEO, Mark Locke.

Mark Locke

Good morning, and thank you for joining us today.

We're happy to report quarterly financial results ahead of expectations for the seventh consecutive quarter. And for the third time this year, we are once again raising our full-year guidance. For the full year, we are now expecting adjusted EBITDA growth of over 230% to $53 million, an 830 basis point margin improvement over last year, along with a step into positive free cash flow territory, as we start to demonstrate this quarter.