Genius Sports Limited (NYSE:GENI) Q4 2023 Earnings Conference Call March 6, 2024 8:00 AM ET
Company Participants
Mark Locke - CEO
Nick Taylor - CFO
Conference Call Participants
Ryan Sigdahl - Craig-Hallum Capital Group
Bernie McTernan - Needham & Company
Jed Kelly - Oppenheimer
Jordan Bender - Citizens JMP
Chad Beynon - Macquarie
Robin Farley - UBS
Eric Martinuzzi - Lake Street Capital Markets
Mike Hickey - The Benchmark Company
Brett Knoblauch - Cantor Fitzgerald
Operator
Good morning. My name is Krista and I'll be your conference operator today. At this time, I would like to welcome everyone to the Genius Sports Fourth Quarter 2023 Earnings Results Conference Call. [Operator Instructions]
Thank you. I would now like to turn the conference over to Genius Sports. You may begin your call.
Unidentified Company Representative
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 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 as we conclude another year of consistent execution and outperformance.
Over the last few years, we have carried out many strategic and commercial objectives to position our business for structural and sustainable success. The results of these objectives are now clear in our financials, as we announce our eighth consecutive quarter ahead of expectations and present a business that is strong, well-positioned, and profitable today as it has ever been.
To recap, we reported Q4 revenue of $127 million, beating our guidance of $126 million and representing 21% growth year-on-year. This brings our full year revenue to $413 million, which is $22 million ahead of our guidance at the start of the year and represents a 21% growth compared to full year 2022. Anchored to a cost base that does not grow in line with revenue growth, we converted 52% of every incremental dollar to our adjusted EBITDA in 2023, demonstrating the clear operational leverage of our business model.