Form 6-K/A - Report of foreign issuer [Rules 13a-16 and 15d-16]: [Amend]

GENI Genius Sports Limited

GENI Genius Sports Limited

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM

6-K

(Amendment No. 1)

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE

13A-16

15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

September

2023

Commission File Number:

001-40352

Genius Sports Limited

(Translation of registrant’s name into English)

Genius Sports Group

1st Floor, 27 Soho Square,

London, W1D 3QR

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form

20-F

or Form

40-F.

Form

20-F

☒ Form

40-F

☐

Indicate by check mark if the registrant is submitting the Form

6-K

in paper as permitted by Regulation

S-T

Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form

6-K

in paper as permitted by Regulation

S-T

Rule 101(b)(7): ☐

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EXPLANATORY NOTE

This Report on Form

6-K/A

(this “Amendment”) amends the Report on Form

6-K

filed by Genius Sports Limited (the “Company”) on August 7, 2023 (the “Original

6-K”)

solely to provide the Company’s interim report for the six month period ended June 30, 2023 formatted in Inline eXtensible Business Reporting Language (“ixBRL”), attached hereto as Exhibit 99.1. The information contained in Exhibit 99.1 is incorporated by reference into the Company’s registration statements on Form

F-3

(File No:

333-265466)

and on Form

S-8

(File Nos:

333-264254,

333-266904

and

333-269093).

Such interim report was previously filed without iXBRL as Exhibit 99.1 to the Original

6-K.

Except as described above, this Amendment speaks as of the original filing date of the Original

6-K

and does not amend, update or restate any information set forth in the Original

6-K

or reflect any events that occurred subsequent to the original filing date of the Original

6-K.

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EXHIBITS


Exhibit No.		Description
99.1		Genius Sports Limited interim report for the six month period ended June 30, 2023.

101.SCH		Inline XBRL Taxonomy Extension Schema Document

101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document

101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document

104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Exhibit 99.1

PRELIMINARY NOTE

The unaudited Condensed Consolidated Financial Statements for the six month period ended June 30, 2023 included herein, have been prepared in accordance with accounting principles accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated financial statements are presented in United States Dollars (“USD”). All references in this interim report to “$,” and “U.S. dollars” mean U.S. dollars and all references to “£” and “GBP” mean British Pounds Sterling, unless otherwise noted.

This interim report, including “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” contains or may contain forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involve significant risks and uncertainties. All statements other than statements of historical facts are forward-looking statements. These forward-looking statements include information about our possible or assumed future results of operations or our performance. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “estimates,” and variations of such words and similar expressions are intended to identify the forward-looking statements. The risk factors and cautionary language referred to or incorporated by reference in this Report provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations described in our forward-looking statements, including among other things, the items identified in the section entitled “Risk Factors” of the Company’s Annual Report on Form 20-F for the year ended December 31, 2022 (“2022 20-F”), as filed with the SEC on March 30, 2023.

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Genius Sports Limited

Condensed Consolidated Balance Sheets

(Amounts in thousands, except share and per share data)


	(Unaudited)
	June 30			December 31
	2023			2022
ASSETS
Current assets:
Cash and cash equivalents	$	89,812		$	122,715
Restricted cash, current		—			12,102
Accounts receivable, net		61,839			33,378
Contract assets		37,069			38,447
Prepaid expenses		32,690			28,207
Other current assets		815			1,668

Total current assets		222,225			236,517

Property and equipment, net		11,759			12,881
Intangible assets, net		144,913			149,248
Operating lease right of use assets		5,895			6,459
Goodwill		324,549			309,894
Investments		24,045			23,682
Restricted cash, non-current		25,348			24,203
Other assets		10,065			10,453

Total assets	$	768,799		$	773,337

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	23,599		$	33,121
Accrued expenses		59,686			56,956
Deferred revenue		41,589			41,273
Current debt		7,400			7,405
Derivative warrant liabilities		—			6,922
Operating lease liabilities, current		3,083			3,462
Other current liabilities		13,443			22,001

Total current liabilities		148,800			171,140

Long-term debt – less current portion		29			7,088
Deferred tax liability		15,767			15,009
Operating lease liabilities, non-current		2,940			3,284

Total liabilities		167,536			196,521

Commitments and contingencies (Note 16)
Shareholders’ equity
Common stock, $0.01 par value, unlimited shares authorized, 212,726,102 shares issued and 208,620,154 shares outstanding at June 30, 2023; unlimited shares authorized, 201,853,695 shares issued and outstanding at December 31, 2022		2,127			2,019
B Shares, $0.0001 par value, 22,500,000 shares authorized, 18,500,000 shares issued and outstanding at June 30, 2023 and December 31, 2022		2			2
Additional paid-in capital		1,625,076			1,568,917
Treasury stock, at cost, 4,105,948 shares at June 30, 2023; nil shares at December 31, 2022		(17,653	)		—
Accumulated deficit		(974,419	)		(938,953	)
Accumulated other comprehensive loss		(33,870	)		(55,169	)

Total shareholders’ equity		601,263			576,816

Total liabilities and shareholders’ equity	$	768,799		$	773,337

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Genius Sports Limited

Condensed Consolidated Statements of Operations

(Unaudited)

(Amounts in thousands, except share and per share data)


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2023			2022			2023			2022
Revenue	$	86,847		$	71,117		$	184,076		$	157,040
Cost of revenue		62,173			61,817			149,870			163,192

Gross profit (loss)		24,674			9,300			34,206			(6,152	)

Operating expenses:
Sales and marketing		6,589			8,973			13,980			18,205
Research and development		5,812			7,734			12,081			15,125
General and administrative		19,618			32,282			37,692			65,086
Transaction expenses		496			—			1,324			128

Total operating expense		32,515			48,989			65,077			98,544

Loss from operations		(7,841	)		(39,689	)		(30,871	)		(104,696	)

Interest (expense) income, net		(202	)		(375	)		216			(766	)
Loss on disposal of assets		(11	)		(1	)		(22	)		(7	)
(Loss) gain on fair value remeasurement of contingent consideration		(376	)		—			(2,809	)		4,408
Change in fair value of derivative warrant liabilities		—			4,678			(534	)		13,420
Gain on foreign currency		1,496			30,122			2,297			42,754

Total other income (expense)		907			34,424			(852	)		59,809

Loss before income taxes		(6,934	)		(5,265	)		(31,723	)		(44,887	)

Income tax (expense) benefit		(3,952	)		61			(4,600	)		(515	)
Gain from equity method investment		588			449			857			449

Net loss	$	(10,298	)	$	(4,755	)	$	(35,466	)	$	(44,953	)

Loss per share attributable to common stockholders:
Basic and diluted	$	(0.05	)	$	(0.02	)	$	(0.17	)	$	(0.23	)
Weighted average common stock outstanding:
Basic and diluted		208,505,216			198,347,397			207,362,662			197,060,987

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Genius Sports Limited

Condensed Consolidated Statements of Comprehensive Income (Loss)

(Unaudited)

(Amounts in thousands)


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2023			2022			2023			2022
Net loss	$	(10,298	)	$	(4,755	)	$	(35,466	)	$	(44,953	)
Other comprehensive income (loss):
Foreign currency translation adjustments		12,331			(72,995	)		21,299			(102,521	)

Comprehensive income (loss)	$	2,033		$	(77,750	)	$	(14,167	)	$	(147,474	)

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Genius Sports Limited

Condensed Consolidated Statements of Changes in Shareholders’ Equity

(Unaudited)

(Amounts in thousands, except share data)


	Common Stock		Amounts		B Shares		Amounts		Additional Paid in Capital			Treasury Stock			Amounts			Accumulated Deficit			Accumulated Other Comprehensive Loss			Total Shareholders’ Equity
Balance at January 1, 2023		201,853,695	$	2,019		18,500,000	$	2	$	1,568,917			—		$	—		$	(938,953	)	$	(55,169	)	$	576,816
Net loss		—		—		—		—		—			—			—			(25,168	)		—			(25,168	)
Stock-based compensation		—		—		—		—		10,543			—			—			—			—			10,543
Vesting of shares		953,117		10		—		—		(10	)		—			—			—			—			—
Issuance of common stock in connection with business combinations		1,677,920		17		—		—		8,423			—			—			—			—			8,440
Issuance (acquisition) of common shares in connection with warrant redemptions		7,668,280		76		—		—		31,877			(4,105,948	)		(17,653	)		—			—			14,300
Foreign currency translation adjustment		—		—		—		—		—			—			—			—			8,968			8,968

Balance at March 31, 2023		212,153,012	$	2,122		18,500,000	$	2	$	1,619,750			(4,105,948	)	$	(17,653	)	$	(964,121	)	$	(46,201	)	$	593,899

Net loss		—		—		—		—		—			—			—			(10,298	)		—			(10,298	)
Stock-based compensation		—		—		—		—		3,614			—			—			—			—			3,614
Vesting of shares		187,313		1		—		—		(1	)		—			—			—			—			—
Issuance of common stock in connection with business combinations		385,777		4		—		—		1,713			—			—			—			—			1,717
Foreign currency translation adjustment		—		—		—		—		—			—			—			—			12,331			12,331

Balance at June 30, 2023		212,726,102	$	2,127		18,500,000	$	2	$	1,625,076			(4,105,948	)	$	(17,653	)	$	(974,419	)	$	(33,870	)	$	601,263


	Common Stock		Amounts		B Shares		Amounts		Additional Paid in Capital			Treasury Stock			Amounts			Accumulated Deficit			Accumulated Other Comprehensive Loss			Total Shareholders’ Equity
Balance at January 1, 2022		193,585,625	$	1,936		18,500,000	$	2	$	1,461,730			—		$	—		$	(757,317	)	$	(173	)	$	706,178
Net loss		—		—		—		—		—			—			—			(40,198	)		—			(40,198	)
Stock-based compensation		—		—		—		—		37,180			—			—			—			—			37,180
Vesting of restricted shares		1,622,776		16		—		—		(16	)		—			—			—			—			—
Issuance of common stock in connection with business combinations		2,701,576		27		—		—		17,425			—			—			—			—			17,452
Foreign currency translation adjustment		—		—		—		—		—			—			—			—			(29,526	)		(29,526	)

Balance at March 31, 2022		197,909,977	$	1,979		18,500,000	$	2	$	1,516,319			—		$	—		$	(797,515	)	$	(29,699	)	$	691,086

Net loss		—		—		—		—		—			—			—			(4,755	)		—			(4,755	)
Stock-based compensation		—		—		—		—		23,492			—			—			—			—			23,492
Vesting of restricted shares		1,664,568		17		—		—		(17	)		—			—			—			—			—
Foreign currency translation adjustment		—		—		—		—		—			—			—			—			(72,995	)		(72,995	)

Balance at June 30, 2022		199,574,545	$	1,996		18,500,000	$	2	$	1,539,794			—		$	—		$	(802,270	)	$	(102,694	)	$	636,828

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Genius Sports Limited

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(Amounts in thousands)


	Six Months Ended
	June 30			June 30
	2023			2022
Cash Flows from operating activities:
Net loss	$	(35,466	)	$	(44,953	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		35,032			34,752
Loss on disposal of assets		22			7
Loss (gain) on fair value remeasurement of contingent consideration		2,809			(4,408	)
Stock-based compensation		14,185			60,677
Change in fair value of derivative warrant liabilities		534			(13,420	)
Non-cash interest expense, net		170			350
Non-cash lease expense		1,955			3,426
Amortization of contract cost		473			445
Deferred income taxes		47			8
Provision for doubtful accounts		250			362
Gain from equity method investment		(857	)		(449	)
Gain on foreign currency remeasurement		(2,228	)		(33,816	)
Changes in operating assets and liabilities
Accounts receivable		(24,746	)		16,276
Contract asset		3,125			(7,213	)
Prepaid expenses		(3,070	)		(3,975	)
Other current assets		911			2,546
Other assets		488			(3,664	)
Accounts payable		(10,843	)		(5,929	)
Accrued expenses		35			(9,657	)
Deferred revenue		(1,600	)		7,377
Other current liabilities		(1,887	)		12,306
Operating lease liabilities		(2,049	)		(3,421	)
Other liabilities		—			(9,813	)

Net cash used in operating activities		(22,710	)		(2,186	)
Cash flows from investing activities:
Purchases of property and equipment		(1,002	)		(2,232	)
Capitalization of internally developed software costs		(21,232	)		(21,741	)
Distributions from (contribution to) equity method investments		1,555			(7,871	)
Equity investments without readily determinable fair values		—			(150	)
Purchases of intangible assets		(238	)		—
Acquisition of business, net of cash acquired		—			(20	)
Proceeds from disposal of assets		30			121

Net cash used in investing activities		(20,887	)		(31,893	)
Cash flows from financing activities:
Repayment of loans and mortgage		(10	)		—
Proceeds from exercise of Public Warrants		6,812			—
Repayment of promissory notes		(7,387	)		—

Net cash used in financing activities		(585	)		—
Effect of exchange rate changes on cash, cash equivalents and restricted cash		322			(13,318	)
Net decrease in cash, cash equivalents and restricted cash		(43,860	)		(47,397	)
Cash, cash equivalents and restricted cash at beginning of period		159,020			222,378

Cash, cash equivalents and restricted cash at end of period	$	115,160		$	174,981

Supplemental disclosure of cash activities:
Cash paid during the period for interest	$	(329)		$	(416	)
Cash paid during the period for income taxes	$	(2,781	)	$	(1,204	)
Supplemental disclosure of noncash investing and financing activities:
Shares acquired by subsidiary from cashless Public Warrant exercise	$	17,653		$	—
Promissory notes arising from equity method investments	$	—		$	14,688
Issuance of common stock in connection with business combinations	$	10,157		$	17,452

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Note 1. Description of Business and Summary of Significant Accounting Policies

Description of Business

Genius Sports Limited (the “Company” or “Genius”) is a

non-cellular

company limited by shares incorporated on October 21, 2020 under the laws of Guernsey. The Company was formed for the purpose of effectuating a merger pursuant to a definitive business combination agreement (“Business Combination Agreement”), dated October 27, 2020, by and among dMY Technology Group, Inc. II (“dMY”), Maven Topco Limited (“Maven Topco”), Maven Midco Limited, Galileo NewCo Limited, Genius Merger Sub, Inc., and dMY Sponsor II, LLC (the “Merger”). Upon the closing of the Merger on April 20, 2021 (the “Closing”), the Company changed its name from Galileo NewCo Limited to Genius Sports Limited. The Company’s ordinary shares are currently listed on the New York Stock Exchange (“NYSE”) under the symbol “GENI”.

The Company is a provider of scalable,

technology-led

products and services to the sports, sports betting, and sports media industries. The Company is a data and technology company that enables consumer-facing businesses such as sports leagues, sportsbook operators and media companies to engage with their customers. The scope of the Company’s software bridges the entire sports data journey, from intuitive applications that enable accurate real-time data capture, to the creation and provision of

in-game

betting odds and digital content that helps the Company’s customers create engaging experiences for the ultimate

end-users,

who are primarily sports fans.

Basis of Presentation and Principles of Consolidation

The Merger was accounted for as a reverse capitalization in accordance with accounting principles accepted in the United States of America (“US GAAP”). The Merger was first accounted for as a capital reorganization whereby the Company was the successor to its predecessor Maven Topco. As a result of the first step described above, the existing shareholders of Maven Topco continued to retain control through ownership of the Company. The capital reorganization was immediately followed by the acquisition of dMY, which was accounted for within the scope of Accounting Standards Codification (“ASC”) 805, Business Combinations (“ASC 805”). Under this method of accounting, dMY was treated as the “acquired” company for financial reporting purposes. This determination was primarily based on post-combination relative voting rights, composition of the governing board, relative size of the

pre-combination

entities, and intent of the Merger. Accordingly, for accounting purposes, the Merger was treated as the equivalent of the Company issuing stock for the net assets of dMY, accompanied by a recapitalization. The net assets of dMY were stated at historical cost, which approximated fair value, with no goodwill or other intangible assets recorded. Operations prior to the Merger are those of legacy Maven Topco. Upon Closing, outstanding capital stock of legacy shareholders of Maven Topco was converted to the Company’s common stock, in an amount determined by application of the exchange ratio of 37.38624 (“Exchange Ratio”), which was based on Maven Topco’s implied price per share prior to the Merger. For periods prior to the Merger, the reported share and per share amounts have been retroactively converted by applying the Exchange Ratio.

The accompanying unaudited condensed consolidated financial statements are presented in conformity with US GAAP and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes thereto included in our 2022

20-F.

The condensed consolidated balance sheet as of December 31, 2022, included herein, was derived from the audited financial statements of the Company as of that date.

The unaudited condensed consolidated interim financial statements, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Company’s financial position as of June 30, 2023, its results of operations, comprehensive income (loss) and shareholders’ equity for the three and six months ended June 30, 2023 and 2022, and its cash flows for the six months ended June 30, 2023 and 2022. The results of the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the year ended December 31, 2023 or for any interim period or for any other future year.

The condensed consolidated financial statements include the accounts and operations of the Company, inclusive of its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Certain prior period amounts reported in our condensed consolidated financial statements and notes thereto have been reclassified to conform to current period presentation.

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Treasury Stock

Treasury stock represents the shares of the Company that are held in treasury. Treasury stock is recorded at cost and deducted from shareholders’ equity.

Recent Accounting Pronouncements

In October 2021, the FASB issued ASU

2021-08,

Business Combinations

(Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which is intended to improve the accounting for acquired revenue contracts with customers in a business combination. ASU

2021-08

is effective for the Company beginning January 1, 2024, with early adoption permitted. The Company is currently in the process of evaluating the effects of this pronouncement on the Company’s condensed consolidated financial statements and does not expect it to have a material impact on the condensed consolidated financial statements.

There are no other accounting pronouncements that are not yet effective and that are expected to have a material impact to the condensed consolidated financial statements.

Recently Adopted Accounting Guidance

In February 2016, the FASB issued ASU

2016-02,

Leases

. The guidance in ASU

2016-02

and subsequently issued amendments requires lessees to capitalize virtually all leases with terms of more than twelve months on the balance sheet as a

right-of-use

asset and recognize an associated lease liability. The

right-of-use

asset represents the lessee’s right to use, or control the use of, a specified asset for the specified lease term. The lease liability represents the lessee’s obligation to make lease payments arising from the lease, measured on a discounted basis. Based on certain characteristics, leases are classified as financing or operating leases and their classification affects the recognition of expense in the income statement. Lessor accounting remains largely unchanged, other than certain targeted improvements intended to align lessor accounting with the lessee accounting model and with the updated revenue recognition guidance.

The Company adopted the new standard on January 1, 2022 using the modified retrospective approach by recognizing and measuring leases without revising comparative period information or disclosures. The Company elected the transition package of practical expedients permitted within the standard, which allowed the Company to carry forward assessments on whether a contract was or contains a lease, historical lease classification and initial direct costs for any leases that existed prior to adoption date.

On the adoption date, the Company recorded operating

right-of-use

assets of $18.4 million, including an offsetting lease incentive of $1.1 million, along with associated operating lease liabilities of $19.5 million.

In June 2016, the FASB issued ASU

2016-13,

Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments, which, together with subsequent amendments, amends the requirement on the measurement and recognition of expected credit losses for financial assets held. ASU

2016-13

was effective for the Company beginning January 1, 2023, with early adoption permitted. The Company adopted ASU

2016-13

on January 1, 2023. The adoption of the standard did not have a material impact on the condensed consolidated financial statements.

Note 2. Revenue

Disaggregation of Revenues

Revenue by Major Product Line

The Company’s product offerings primarily deliver a service to a customer satisfied over time, and not at a point in time. Point in time revenues were immaterial for all periods presented in the condensed consolidated statements of operations. Revenue for the Company’s major product lines consists of the following (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenue by Product Line
Betting Technology, Content and Services	$	56,862	$	44,831	$	121,602	$	94,552
Media Technology, Content and Services		18,357		14,999		40,121		39,128
Sports Technology and Services		11,628		11,287		22,353		23,360

Total	$	86,847	$	71,117	$	184,076	$	157,040

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Revenue by Geographic Market

Geographical regions are determined based on the region in which the customer is headquartered or domiciled. Revenues by geographical market consists of the following (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenue by geographical market:
Europe	$	52,742	$	43,901	$	107,762	$	88,141
Americas		29,396		21,422		66,640		57,450
Rest of the world		4,709		5,794		9,674		11,449

Total	$	86,847	$	71,117	$	184,076	$	157,040

In the three months ended June 30, 2023, the United States, Gibraltar and Malta represented 25%, 16% and 13% of total revenue, respectively. In the three months ended June 30, 2022, the United States, Gibraltar and Malta represented 23%, 17% and 12% of total revenue, respectively. In the six months ended June 30, 2023, the United States, Gibraltar and Malta represented 28%, 14% and 11% of total revenue, respectively. In the six months ended June 30, 2022, the United States, Gibraltar and Malta represented 30%, 14% and 11% of total revenue, respectively.

Revenues by Major Customers

No customers accounted for 10% or more of revenue in the three and six months ended June 30, 2023 and 2022.

Revenue from Other Sources

For the three and six months ended June 30, 2023 and 2022, revenue for the Sports Technology and Services product line includes an immaterial amount of revenue from other sources in relation to equipment rental income.

Remaining Performance Obligations

Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes unearned revenue and unbilled amounts that will be recognized as revenue in future periods and excludes constrained variable consideration. The Company has excluded contracts with an original expected term of one year or less and variable consideration allocated entirely to wholly unsatisfied promises that form part of a single performance obligation from the disclosure of remaining performance obligations.

Revenue allocated to remaining performance obligations was $437.6 million as of June 30, 2023. The Company expects to recognize approximately 63% in revenue within one year, and the remainder within the next 13 – 114 months.

During the three and six months ended June 30, 2023, the Company recognized revenue of $14.2 million and $32.2 million, respectively, for variable consideration related to revenue share contracts for Betting Technology, Content and Services.

Contract Balances

The timing of revenue recognition may differ from the timing of invoicing to customers, and these timing differences result in receivables (see Note 4 –

Accounts Receivable, Net

), contract assets, or contract liabilities (deferred revenue) on the Company’s condensed consolidated balance sheets. The Company records a contract asset when revenue is recognized prior to the right to invoice or deferred revenue when revenue is recognized subsequent to invoicing. Contract assets are transferred to receivables when the rights to invoice and receive payment become unconditional.

As of June 30, 2023, the Company had $37.1 million contract assets and $41.6 million of contract liabilities, recognized as deferred revenue. As of December 31, 2022, the Company had $38.4 million of contract assets and $41.3 million of contract liabilities, recognized as deferred revenue.

The Company expects to recognize substantially all of the deferred revenue as of June 30, 2023 within the next 12 months.

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Note 3. Cash, Cash Equivalents and Restricted Cash

Cash, cash equivalents and restricted cash as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


	June 30,		December 31,
	2023		2022
Cash and cash equivalents	$	89,812	$	122,715
Restricted cash, current and non-current		25,348		36,305

Cash, cash equivalents and restricted cash	$	115,160	$	159,020

Restricted cash relates to a guarantee issued by the Company to Barclays Bank PLC in connection with a letter of credit that Barclays provided to Football DataCo Limited for and on behalf of the Company for an aggregate amount of £20.0 million ($25.3 million as of June 30, 2023). See Note 16 –

Commitments and Contingencies

Note 4. Accounts Receivable, Net

As of June 30, 2023, accounts receivable, net consisted of accounts receivable of $64.6 million less allowance for doubtful accounts of $2.8 million. As of December 31, 2022, accounts receivable, net consisted of accounts receivable of $35.9 million less allowance for doubtful accounts of $2.5 million.

Note 5. Intangible Assets, Net

Intangible assets subject to amortization as of June 30, 2023 consist of the following (in thousands, except years):


	Weighted Average Remaining Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(years)
Data rights	5	$	66,763	$	32,147	$	34,616
Marketing products	7		58,834		30,993		27,841
Technology	1		106,019		84,525		21,494
Capitalized software	2		130,277		69,315		60,962

Total intangible assets		$	361,893	$	216,980	$	144,913

Intangible assets subject to amortization as of December 31, 2022 consist of the following (in thousands, except years):


	Weighted Average Remaining Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(years)
Data rights	6	$	63,748	$	27,508	$	36,240
Marketing products	7		56,178		23,570		32,608
Technology	1		100,999		70,312		30,687
Capitalized software	2		103,568		53,855		49,713

Total intangible assets		$	324,493	$	175,245	$	149,248

Amortization expense was $16.4 million and $16.0 million for the three months ended June 30, 2023 and 2022, respectively. Amortization expense was $32.5 million and $32.4 million for the six months ended June 30, 2023 and 2022, respectively.

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Note 6. Goodwill

Changes in the carrying amount of goodwill for the six months ended June 30, 2023 is summarized as follows (in thousands):


Balance as of December 31, 2022	$	309,894
Effect of currency translation remeasurement		14,655

Balance as of June 30, 2023	$	324,549

No impairment of goodwill was recognized for the three and six months ended June 30, 2023 and 2022.

Note 7. Other Assets

Other assets (current and long-term) as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


	June 30, 2023		December 31, 2022
Other current assets:
Non-trade receivables	$	386	$	1,385
Inventory		429		283

Total other current assets	$	815	$	1,668

Other assets:
Security deposit	$	1,697	$	1,364
Corporate tax receivable		3,581		5,472
Sales tax receivable		2,850		1,779
Contract costs		1,937		1,838

Total other assets	$	10,065	$	10,453

Note 8. Debt

The following table summarizes outstanding debt balances as of June 30, 2023 and December 31, 2022 (in thousands):


Instrument	Date of Issuance		Maturity Date		Effective interest rate			June 30, 2023			December 31, 2022
Genius Sports Italy Srl Mortgage		December 2010		December 2025		5.0	%	$	52		$	62
Promissory Note		January 2022		January 2024		4.7	%		7,377			14,431

								$	7,429		$	14,493
Less current portion of debt									(7,400	)		(7,405	)

Non-current portion of debt								$	29		$	7,088

Genius Sports Italy Srl Mortgage

On December 1, 2010, Genius Sports entered into a loan agreement in Euros for €0.3 million, equivalent to $0.1 million as of June 30, 2023, to be paid in accordance with the quarterly floating rate amortization schedule over the course of the loan.

Promissory Notes

As part of the equity investment in the Canadian Football League (“CFL”), the Company issued two promissory notes, denominated in Canadian Dollars, with an aggregate face value of $20.0 million Canadian Dollars. The promissory notes incur no cash interest. The Company has determined an effective interest rate of 4.7%. The first promissory note matured and was repaid on January 1, 2023, and the second promissory note matures on January 1, 2024. As of June 30, 2023, the face value of the outstanding promissory note was $10.0 million Canadian Dollars, equivalent to $7.4 million. The estimated fair value of the promissory note approximates the carrying value.

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Secured Overdraft Facility

The Company has access to short-term borrowings and lines of credit. The Company’s main facility is a £0.2 million secured overdraft facility with Barclays Bank PLC, which incurs a variable interest rate of 4.0% over the Bank of England rate. As of June 30, 2023 and December 31, 2022, the Company had no outstanding borrowings under its lines of credit.

Interest Expense

Interest expense was $0.2 million and $0.4 million for the three months ended June 30, 2023 and 2022, respectively. Interest expense was $0.5 million and $0.8 million for the six months ended June 30, 2023 and 2022 respectively.

Debt Maturities

Expected future payments for all borrowings as of June 30, 2023 are as follows:


Fiscal Period:	(in thousands)
2023 (Remaining)	$	12
2024		7,400
2025		17
2026		—
2027		—
Thereafter		—

Total payment outstanding	$	7,429

Note 9. Derivative Warrant Liabilities

As part of dMY’s initial public offering (“IPO”) in 2020, dMY issued 9,200,000 warrants to third party investors, and each whole warrant entitled the holder to purchase one share of the Company’s Class A common stock at an exercise price of $11.50 per share (the “Public Warrants”). Simultaneously with the closing of the IPO, dMY completed the private sale of 5,013,333 warrants to dMY’s sponsor (“Private Placement Warrants”) and each Private Placement Warrant allowed the sponsor to purchase one share of the Company’s Class A common stock at $11.50 per share. During fiscal year 2021 the Private Placement Warrants were exercised in full.

Public Warrants may only be exercised for a whole number of shares. No fractional Public Warrants will be issued upon separation of the units and only whole Public Warrants will trade. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination or (b) 12 months from the closing of the IPO. The Public Warrants had an exercise price of $11.50 per share, subject to adjustments and will expire

five years

after the completion of the Business Combination as of April 20, 2021 or earlier upon redemption or liquidation and are exercisable on demand.

On January 20, 2023, the Company announced the successful offer to exercise and consent solicitation (the “Exercise and Consent Solicitation”) of the Company’s outstanding public warrants. Holders of 2,149,000 warrants elected to exercise their public warrants prior to the expiration date of the Exercise and Consent Solicitation on a cash basis at a reduced exercise price of $3.1816 per share, resulting in cash proceeds of $6.8 million and the issuance of 2,149,000 shares of Common Stock. Holders of 4,685,987 warrants elected to exercise their public warrants prior to the expiration date of the Exercise and Consent Solicitation on a cashless basis at a reduced exercise price of $3.1816 per share, and the remaining 833,293 public warrants were exercised automatically on a cashless basis at a reduced exercise price of $3.2933 per share. The Company issued 5,519,280 shares of Common Stock for warrants that were exercised on a cashless basis, of which 4,105,948 shares were retained as Treasury Stock.

ne of the Company’s public warrants remained outstanding as of March 31, 2023 and the warrants ceased trading on the New York Stock Exchange (“NYSE”).

The Company accounts for Public Warrants as liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480, Distinguishing Liabilities from Equity (ASC 480) and ASC 815, Derivatives and Hedging (ASC 815). Specifically, the Public Warrants meet the definition of a derivative but do not qualify for an exception from derivative accounting since the warrants are not indexed to the Company’s stock and therefore, are precluded from equity classification. Since the Public Warrants meet the definition of a derivative under ASC 815, the Company recorded these warrants as liabilities on the balance sheet at fair value upon the closing of the Merger, with subsequent changes in their respective fair values recognized in the condensed consolidated statement of operations.

For the three months ended June 30, 2023 and 2022, zero and a gain of $4.7 million was recognized from the change in fair value of the Public Warrants in the Company’s condensed consolidated statements of operations, respectively. For the six months ended June 30, 2023 and 2022, a loss of $0.5 million and gain of $13.4 million was recognized from the change in fair value of the Public Warrants in the Company’s condensed consolidated statements of operations, respectively.

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Note 10. Other Liabilities

Other current liabilities as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


	June 30,		December 31,
	2023		2022
Other current liabilities:
Other payables	$	3,212	$	3,667
Deferred consideration		5,091		7,605
Contingent consideration		5,140		10,729

Total other current liabilities	$	13,443	$	22,001

Note 11. Loss Per Share

The Company’s basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted-average shares of common stock outstanding, net of weighted average treasury stock outstanding, during periods with undistributed losses. Additionally, the B Shares, issued in connection with the License Agreement (defined below), are not included in the loss per share calculations below as they are

non-participating

securities with no rights to dividends or distributions. Diluted net loss per share attributable to common stockholders is computed by giving effect to all potentially dilutive securities. Basic and diluted net loss per share attributable to common stockholders was the same for all periods presented as the inclusion of all potentially dilutive securities outstanding was anti-dilutive.

The computation of loss per share and weighted average shares of the Company’s common stock outstanding for the three and six months ended June 30, 2023 and 2022 is as follows (in thousands except share and per share data):


	Three Months ended June 30,
	2023			2022
Net loss attributable to common stockholders – basic and diluted	$	(10,298	)	$	(4,755	)
Basic and diluted weighted average common stock outstanding		208,505,216			198,347,397

Loss per share attributable to common stockholders – basic and diluted	$	(0.05	)	$	(0.02	)


	Six Months ended June 30,
	2023			2022
Net loss attributable to common stockholders – basic and diluted	$	(35,466	)	$	(44,953	)
Basic and diluted weighted average common stock outstanding		207,362,662			197,060,987

Loss per share attributable to common stockholders – basic and diluted	$	(0.17	)	$	(0.23	)

The following table presents the potentially dilutive securities that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive:


	Three and Six Months ended June 30,
	2023		2022
Stock options to purchase common stock		331,852		387,879
Unvested restricted shares		1,960,421		5,523,725
Public and private placement warrants to purchase common stock		—		7,668,381
Unvested equity-settled restricted share units		2,382,738		2,766,364
Unvested equity-settled performance-based restricted share units		4,417,850		1,778,662
Warrants issued to NFL to purchase common stock		18,500,000		18,500,000

Total		27,592,861		36,625,011

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Note 12. Stock-based Compensation

Restricted Shares

2021 Restricted Share Plan

On October 27, 2020, in anticipation of the Merger, the Board of Directors approved a Management Equity Term Sheet (“Term Sheet”) which modified the terms of Maven Topco’s legacy Incentive Securities (defined below) and allowed for any unvested Incentive Securities at Closing to be converted to restricted shares under the 2021 Restricted Share Plan, using the Exchange Ratio established during the Merger.

Specifically, historical unvested Class B and Class C Incentive Securities were converted to restricted shares subject only to service conditions (“Time-Vesting Restricted Shares”) and subject to graded vesting over four years. Historical Class D unvested Incentive Securities were converted to restricted shares with service and market conditions (“Performance-Vesting Restricted Shares”), subject to graded vesting over three years based on a market condition related to volume weighted average trading price performance of the Company’s common stock.

The Company determined that a modification to the terms of Maven Topco’s legacy Incentive Securities occurred on October 27, 2020 (“October Modification”) because the Company removed the Bad Leaver provision (discussed below in “Incentive Securities” section) for vested awards, contingent upon the Closing, representing a change in vesting conditions. The Company further determined that another modification occurred on April 20, 2021 (“April Modification”) since the Incentive Securities, which are private company awards, were exchanged for restricted shares, which are public company awards, representing a change in vesting conditions.

compensation cost was recognized as a result of the October Modification because the awards were improbable of vesting both before and after the modification date as of October 27, 2020. Upon Closing, the Company recognized total compensation cost of $183.2 million to account for the vesting of the historical Incentive Securities upon removal of the Bad Leaver provision. The Company measured the awards based on their fair values as of October 27, 2020, which is considered to be the grant date fair value of the awards, adjusted for any incremental compensation cost resulting from the April Modification, which is determined to be immaterial.

Second Spectrum Restricted Shares

On June 15, 2021, as part of the Company’s acquisition of Second Spectrum, Inc (“Second Spectrum”) the Company granted 518,706 restricted shares to the founders of Second Spectrum, with 50% to be vested on December 31, 2021 and 2022 (“Second Spectrum Restricted Shares”). The grant date fair value of the Second Spectrum Restricted Shares is estimated to be equal to the closing price of the Company’s common stock of $17.74 as of the grant date on June 15, 2021.

A summary of the Company’s overall restricted shares activities for the six months ended June 30, 2023 is as follows:


	Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested restricted shares as of December 31, 2022		3,417,484		$	7.39
Vested		(281,542	)	$	8.62
Forfeited		(1,175,521	)	$	7.13

Unvested restricted shares as of June 30, 2023		1,960,421		$	7.37

The compensation cost recognized for the restricted shares during the three months ended June 30, 2023 and 2022 was $1.2 million, and $14.3 million, respectively. The compensation cost recognized for the restricted shares during the six months ended June 30, 2023 and 2022 was $3.4 million, and $28.7 million, respectively.

As of June 30, 2023, total unrecognized compensation cost related to the restricted shares was $3.1 million and is expected to be recognized over a weighted-average service period of 0.8 years.

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Stock Options

2021 Option Plan

On April 20, 2021 (“2021 Grant Date”), as part of the Merger, the Board of Directors adopted the 2021 Option Plan and granted employees options to purchase the Company’s common stock via an employee benefit trust including 1) options which shall immediately vest upon Closing (“Immediate-Vesting Options”), 2) options subject only to service conditions (“Time-Vesting Options”) and 3) options with service and market conditions (“Performance-Vesting Options”). Immediate-Vesting Options became fully vested and exercisable immediately following the Closing, which aligns with the 2021 Grant Date. Time-Vesting Options are subject to graded vesting over the four years following the 2021 Grant Date. Performance-Vesting Options are subject to graded vesting over the three years from the 2021 Grant Date, subject to a market condition related to volume weighted average trading price performance of the Company’s common stock.

A summary of the Company’s options activity for the six months ended June 30, 2023 is as follows:


	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
						(in years)		(in thousands)
Outstanding as of December 31, 2022		357,945		$	10.00		3.3	$	—
Forfeited		(26,093	)	$	10.00

Outstanding as of June 30, 2023		331,852		$	10.00		2.8	$	—
Exercisable as of June 30, 2023		187,343

Unvested as of June 30, 2023		144,509

The compensation cost recognized for options during the three months ended June 30, 2023 and 2022 was $0.2 million and $0.1 million, respectively. The compensation cost recognized for options during the six months ended June 30, 2023 and 2022 was $0.3 million and $0.5 million, respectively. The total fair value of options that vested during the three and six months ended June 30, 2023 was $0.1 million and $0.3 million, respectively.

As of June 30, 2023, the Company had $1.0 million of unrecognized stock-based compensation expense related to the stock options. This cost is expected to be recognized over a weighted-average period of 1.8 years.

2022 Employee Incentive Plan

The Company created an employee incentive plan involving share-based and cash-based incentives to support the success of the Company by further aligning the personal interests of employees, officers, and directors to those of our shareholders by providing an incentive to drive performance and sustained growth.

On April 5, 2022, (“2022 Grant Date”) the Board of Directors adopted the 2022 Employee Incentive Plan and granted employees 1) Equity-settled Restricted Share Units (“RSUs”), 2) Cash-settled Restricted Share Units (“Cash-settled RSUs”) and 3) Equity-settled Performance-Based Restricted Share Units (“PSUs”).

The RSUs and Cash-settled RSUs are subject to a service condition with graded vesting over the three years following the 2022 Grant Date. PSUs vest after three years, subject to a service condition, a market condition related to volume weighted average trading price performance of the Company’s common stock, and performance conditions related to the Company’s cumulative revenue and cumulative adjusted EBITDA.

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Equity-settled Restricted Share Units

The estimated grant date fair value of the Company’s RSUs is estimated to be equal to the closing price of the Company’s common stock on each grant date.

A summary of the Company’s Equity-settled Restricted Share Units activity for the six months ended June 30, 2023 is as follows:


	Number of RSUs			Weighted Average Grant Date Fair Value per RSU
Unvested RSUs as of December 31, 2022		2,719,136		$	4.12
Granted		601,181		$	4.02
Forfeited		(78,557	)	$	4.27
Vested		(859,022	)	$	4.22

Unvested RSUs as of June 30, 2023		2,382,738		$	4.05

The compensation cost recognized for RSUs during the three months ended June 30, 2023 and 2022 was $1.3 million and $2.2 million, respectively. The compensation cost recognized for RSUs during the six months ended June 30, 2023 and 2022 was $2.6 million and $2.2 million, respectively.

As of June 30, 2023, the Company had $6.9 million of unrecognized stock-based compensation expense related to the RSUs. This cost is expected to be recognized over a weighted-average period of 1.7 years.

Cash-settled Restricted Share Units

Our outstanding Cash-settled RSUs entitle employees to receive cash based on the fair value of the Company’s common stock on the vesting date. The Cash-settled RSUs are accounted for as liability awards and are

re-measured

at fair value each reporting period until they become vested with compensation expense being recognized over the requisite service period. The Company has a liability, which is included in “Other current liabilities” within the condensed consolidated balance sheets of less than $0.1 million as of June 30, 2023.

The estimated grant date fair value of the Company’s Cash-settled RSUs is estimated to be equal to the closing price of the Company’s common stock on each grant date.

A summary of the Company’s Cash-settled RSUs activity for the six months ended June 30, 2023 is as follows:


	Number of Cash- settled RSUs			Weighted Average Grant Date Fair Value per Cash-settled RSU
Unvested Cash-settled RSUs as of December 31, 2022		17,819		$	4.27
Vested		(5,941	)	$	4.27

Unvested Cash-settled RSUs as of June 30, 2023		11,878		$	4.27

The compensation cost recognized for Cash-settled RSUs during the three and six months ended June 30, 2023 and 2022 was less than $0.1 million.

As of June 30, 2023, the Company had $0.1 million of unrecognized stock-based compensation expense related to the Cash-settled RSUs. This cost is expected to be recognized over a weighted-average period of 1.6 years.

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Equity-settled Performance-Based Restricted Share Units

The Company’s PSUs were adopted in order to provide employees, officers and directors with stock-based compensation tied directly to the Company’s performance, further aligning their interests with those of shareholders and provides compensation only if the designated performance goals are met over the applicable performance period. The awards have the potential to be earned at 50%, 100% or 150% of the number of shares granted depending on achievement the performance goals, but remain subject to vesting for the full three-year service period.

The grant date fair values of PSUs subject to performance conditions are based on the most recent closing stock price of the Company’s shares of common stock. The stock-based compensation expense is recognized over the remaining service period at the time of grant, adjusted for the Company’s expectation of the achievement of the performance conditions.

The estimated grant date fair value of the Company’s PSUs subject to a market condition granted under the 2022 Employee Incentive Plan in the first quarter of fiscal year 2023 was calculated using Monte Carlo simulations based on the following assumptions:


Time to maturity (1)		3.0	years
Common stock price (2)	$	3.75
Volatility (3)		85.0	%
Risk-free rate (4)		3.9	%
Dividend yield (5)		0.0	%

(1)	Based on contractual terms

(2)	Represents the publicly traded common stock price as of the 2022 Grant Date

(3)	Calculated based on the Company’s historical volatility over a term of 2.3 years

(4)	Based on the U.S. Constant Maturity Treasury yield curve as of the valuation date over a matching term over 3.0 years

(5)	Assumes a dividend yield of zero as the Company has no plans to declare dividends in the foreseeable future

A summary of the Company’s PSUs activity for the three months ended June 30, 2023 is as follows:


	Number of PSUs			Weighted Average Grant Date Fair Value per PSU
Unvested PSUs as of December 31, 2022		1,849,942		$	3.53
Granted		2,572,965		$	2.12
Forfeited		(5,057	)	$	3.54

Unvested PSUs as of June 30, 2023		4,417,850		$	2.71

The compensation cost recognized for PSUs during the three months ended June 30, 2023 and 2022 was $1.0 million and $1.0 million, respectively. The compensation cost recognized for PSUs during the six months ended June 30, 2023 and 2022 was $2.0 million and $1.0 million, respectively.

As of June 30, 2023, the Company had $7.8 million of unrecognized stock-based compensation expense related to the PSUs. This cost is expected to be recognized over a weighted-average period of 2.2 years.

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Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

NFL Warrants

On April 1, 2021, the Company entered into a multi-year strategic partnership with NFL Enterprises LLC (“NFL”) (the “License Agreement”). Under the terms of the License Agreement, the Company obtains the right to serve as the worldwide exclusive distributor of NFL official data to the global regulated sports betting market, the worldwide exclusive distributor of NFL official data to the global media market, the NFL’s exclusive international distributor of live digital video to the regulated sports betting market (outside of the United States of America where permitted), and the NFL’s exclusive sports betting and

i-gaming

advertising partner. The License Agreement contemplates a four-year period commencing April 1, 2021. Pursuant to the License Agreement, the Company agreed to issue the NFL an aggregate of up to 18,500,000 warrants with each warrant entitling NFL to purchase one ordinary share of the Company for an exercise price of $0.01 per warrant share. The warrants will be subject to vesting over the four-year Term. Additionally, each warrant is issued with one share of redeemable B Share with a par value of $0.0001. The B Shares, which are not separable from the warrants, are voting only shares with no economic rights to dividends or distributions. Pursuant to the License Agreement, when the warrants are exercised, the Company shall purchase or, at its discretion, redeem at the par value an equivalent number of B Shares, and any such purchased or redeemed B Shares shall thereafter be cancelled.

The Company accounts for the License Agreement as an executory contract for the ongoing Data Feeds and the warrants will be accounted for as share-based payments to

non-employees.

The awards are measured at grant date fair value when all key terms and conditions are understood by both parties, including for unvested awards and are expensed over the term to align with the data services to be provided over the periods.

The grant date fair value of the warrants is estimated to be equal to the closing price of dMY’s common stock of $15.63, as of the grant date on April, 1, 2021. The Company used dMY’s stock price to approximate the fair value of the Company as the grant date was before the Merger was consummated.

A summary of the Company’s warrants activity for the six months ended June 30, 2023 is as follows:


	Number of Warrants
Outstanding as of December 31, 2022		18,500,000

Outstanding as of June 30, 2023		18,500,000

The cost recognized for the warrants during the three months ended June 30, 2023 and 2022 was zero and $5.9 million, respectively. The cost recognized for the warrants during the six months ended June 30, 2023 and 2022 was $5.9 million and $28.3 million, respectively. The warrants vested over a three year period, ending on April 1, 2023, and as of June 30, 2023, the Company had no unrecognized stock-based compensation expense related to the warrants. 3,000,000 warrants vested in the three and six months ended June 30, 2023.

Stock-based Compensation Summary

The Company’s total stock-based compensation expense was summarized as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Cost of revenue	$	112	$	6,123	$	6,091	$	28,607
Sales and marketing		245		1,104		813		1,697
Research and development		389		1,145		830		1,367
General and administrative		2,878		15,125		6,451		29,006

Total	$	3,624	$	23,497	$	14,185	$	60,677

Table of Contents

Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Note 13. Fair Value Measurements

The Company uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

•

Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

•

Level 2 inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

•

Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

The Public Warrants were classified as Level 1 financial instruments. The fair value of Public Warrants was measured based on the listed market price of such warrants.

The change in the fair value of the derivative warrant liabilities (Public Warrants) for the six months ended June 30, 2023 is summarized as follows (in thousands):


	Public Warrants
Derivative warrant liabilities at December 31, 2022	$	6,922
Change in fair value		534
Exercise of warrants		(7,438	)
Foreign currency translation adjustments		(18	)

Derivative warrant liabilities at June 30, 2023	$	—

Contingent consideration are classified as Level 3 financial instruments. The fair value of contingent consideration is determined based on significant unobservable inputs including discount rate, estimated revenue of the acquired business, and estimated probabilities of achieving specified technology development and operational milestones. Significant judgment is employed in determining the appropriateness of the inputs described above. Changes to the inputs could have a material impact on the company’s financial position and results of operations in any given period.

With respect to the contingent consideration obligation arising from the acquisition of Photospire Limited (“Spirable”), the Company estimates the fair value at each subsequent reporting period using a probability weighted discounted cash flow model for contingent milestone payments and Monte Carlo simulation for contingent revenue payments.

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2023 (in thousands):


Description	Level 1		Level 2		Level 3		Total
Liabilities:
Contingent Consideration	$	—	$	—	$	5,140	$	5,140

Total liabilities	$	—	$	—	$	5,140	$	5,140

Table of Contents

Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

The change in the fair value of the contingent consideration is summarized as follows (in thousands):


	2023
Beginning balance – January 1	$	10,729
Issuance of shares (1)		(8,440	)
Loss on fair value remeasurement of contingent consideration (2)		2,809
Foreign currency translation adjustments		42

Ending balance – June 30	$	5,140

(1)	On February 21, 2023, the Company issued 1,677,920 additional ordinary shares to the sellers of Second Spectrum that received equity consideration, pursuant to the terms and conditions of the business combination agreement.

(2)	Loss on fair value remeasurement of contingent consideration mainly relates to the Second Spectrum acquisition.

As of June 30, 2023, the Company had no transfers between levels of the fair value hierarchy of its assets or liabilities measured at fair value.

Note 14. Income Taxes

The Company had an income tax expense of $4.0 million and income tax benefit of $0.1 million, relative to

pre-tax

loss of $6.9 million and $5.3 million for the three months ended June 30, 2023 and 2022, respectively. The Company had an income tax expense of $4.6 million and $0.5 million, relative to

pre-tax

loss of $31.7 million and $44.9 million for the six months ended June 30, 2023 and 2022, respectively.

As of June 30, 2023 and December 31, 2022, the Company had no unrecognized tax benefits.

Note 15. Operating Leases

The Company leases office and data center facilities under operating lease agreements.

Some

of the Company’s leases include one or more options to renew. For a majority of our leases, we do not assume renewals in our determination of the lease term as the renewals are not deemed to be reasonably assured. The Company’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. As of June 30, 2023, the Company’s lease agreements typically have terms not exceeding five years.

Payments under the Company’s lease arrangements may be fixed or variable, and variable lease payments primarily represent costs related to common area maintenance and utilities. The components of lease expense are summarized as follows (in thousands):


	Three months ended June 30,						Six months ended June 30,
	2023			2022			2023			2022
Operating lease cost	$	1,073		$	1,595		$	2,089		$	3,267
Short term lease cost		155			101			443			203
Variable lease cost		118			100			186			202
Sublease income		(257	)		(302	)		(567	)		(612	)

Total lease cost	$	1,089		$	1,494		$	2,151		$	3,060

Table of Contents

Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Other information related to leases is summarized as follows (in thousands, except lease term and discount rate):


	Six months ended June 30,
	2023			2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,049		$	3,421
Right-of-use assets obtained in exchange for new operating lease liabilities		1,113			—
Weighted-average remaining lease term (in years):
Operating leases		2.1			2.7
Weighted-average discount rate:
Operating leases		2.7	%		1.6	%

During the six months ended June 30, 2023, the Company entered into a long-term lease for office space in London, United Kingdom, resulting in additional lease liabilities of $1.1 million.

The Company calculated the weighted-average discount rates using incremental borrowing rates, which equal the rates of interest that it would pay to borrow funds on a fully collateralized basis over a similar term.

As of June 30, 2023, the maturity of lease liabilities are as follows (in thousands):


	(in thousands)
2023 (Remaining)	$	1,707
2024		2,783
2025		1,441
2026		283
2027		—
Thereafter		—
Total minimum lease payments		6,214
Less: Imputed interest		(191	)

Present value of lease liabilities	$	6,023

The

right-of-use

assets and liabilities derecognized upon termination of lease contracts were as follows (in thousands):


	Six months ended June 30,
	2023		2022
Leases terminated		—		2
Right-of-use assets derecognized upon lease termination	$	—	$	177
Lease liabilities derecognized upon lease termination		—		177

Note 16. Commitments and Contingencies

Sports Data License Agreements

The Company enters into certain license agreements with sports federations and leagues primarily for the right to supply data and/or live video feeds to the betting industry. These license agreements may include rights to live and past game data, live videos and marketing rights. The license agreements entered into by the Company are complex and deviate in the specific rights granted, but are generally for a fixed period of time, with payments typically made in installments over the length of the contract. As of June 30, 2023, future minimum commitments under the Company’s data rights license agreements accounted for as executory contracts are as follows (in thousands):


	(in thousands)
2023 (Remaining)	$	75,750
2024		176,963
2025		158,512
2026		161,036
2027		175,545
Thereafter		84,686

Total	$	832,492

Table of Contents

Genius Sports Limited

Notes to Condensed Consolidated Financial Statements

(Unaudited)

Purchase Obligations

The Company purchases goods and services from vendors in the ordinary course of business. Purchase obligations are defined as agreements that are enforceable and legally binding and that specify all significant terms, including fixed or minimum quantities to be purchased, fixed, minimum, or variable price provisions, and the approximate timing of the transaction. The Company’s long-term purchase obligations primarily include service contracts related to cloud-based hosting arrangements. Total purchase obligations under these services contracts are $90.7 million as of June 30, 2023, with approximately $20.5 million due within one year and the remaining due by 2028.

General Litigation

From time to time, the Company is or may become subject to various legal proceedings arising in the ordinary course of business, including proceedings initiated by users, other entities, or regulatory bodies. Estimated liabilities are recorded when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In many instances, the Company is unable to determine whether a loss is probable or to reasonably estimate the amount of such a loss and, therefore, the potential future losses arising from a matter may differ from the amount of estimated liabilities the Company has recorded in the condensed consolidated financial statements covering these matters. The Company reviews its estimates periodically and makes adjustments to reflect negotiations, estimated settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular matter.

As of June 30, 2023, the Company is not party to active litigation.

Bank Letters of Credit and Guarantees

In the normal course of business, the Company provides standby letters of credit or other guarantee instruments to certain parties initiated by either the Company or its subsidiaries. The Company previously had bank guarantees with Barclays Bank PLC. In the second quarter of fiscal year 2022 the bank guarantee was replaced with an account charge of equal value, resulting in the Company recognizing restricted cash of £20.0 million ($25.3 million) as of June 30, 2023.

The Company recorded $0.1 million and $0.2 million in interest expense in the three months ended June 30, 2023 and 2022, respectively. The Company recorded $0.3 million and $0.4 million in interest expense in the three months ended June 30, 2023 and 2022, respectively.

Note 17. Related Party Transactions

The Company made payments of $0.1 million to Carbon Group Limited in respect to consultancy services provided by a director and shareholder of the Company for the three and six months ended June 30, 2023 and 2022, respectively.

The Company recognized revenue of $0.3 million for the three and six months ended June 30, 2023 from CFL Ventures, in which the Company has a minority interest.

In the three months ended June 30, 2023, the Company granted 67,720 RSUs to two independent members of the board of directors, vesting in April 2024. In the six months ended June 30, 2023, the Company granted 86,588 RSUs to three independent members of the board of directors, vesting between March 2024 and April 2024.

The Company recognized compensation cost of $0.1 million and less than $0.1 million during the three months ended June 30, 2023 and 2022, respectively and $0.3 million and $0.1 million during the six months ended June 30, 2023 and 2022, respectively, in general and administrative expense in the condensed consolidated statements of operations for awards granted to independent members of the board of directors.

Note 18. Subsequent Events

In preparing the condensed consolidated financial statements as of June 30, 2023, the Company has evaluated subsequent events through August 7, 2023, which is the date the condensed consolidated financial statements were issued.

Cover Page	6 Months Ended
Cover Page	Jun. 30, 2023
Document Information [Line Items]
Document Type	6-K/A
Amendment Flag	true
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Registrant Name	Genius Sports Limited
Entity Central Index Key	0001834489
Amendment Description	This Report on Form 6-K/A (this “Amendment”) amends the Report on Form 6-K filed by Genius Sports Limited (the “Company”) on August 7, 2023 (the “Original 6-K”) solely to provide the Company’s interim report for the six month period ended June 30, 2023 formatted in Inline eXtensible Business Reporting Language (“ixBRL”), attached hereto as Exhibit 99.1. The information contained in Exhibit 99.1 is incorporated by reference into the Company’s registration statements on Form F-3 (File No: 333-265466) and on Form S-8 (File Nos: 333-264254, 333-266904 and 333-269093). Such interim report was previously filed without iXBRL as Exhibit 99.1 to the Original 6-K. Except as described above, this Amendment speaks as of the original filing date of the Original 6-K and does not amend, update or restate any information set forth in the Original 6-K or reflect any events that occurred subsequent to the original filing date of the Original 6-K.

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 89,812	$ 122,715
Restricted cash, current		12,102
Accounts receivable, net	61,839	33,378
Contract assets	37,069	38,447
Prepaid expenses	32,690	28,207
Other current assets	815	1,668
Total current assets	222,225	236,517
Property and equipment, net	11,759	12,881
Intangible assets, net	144,913	149,248
Operating lease right of use assets	5,895	6,459
Goodwill	324,549	309,894
Investments	24,045	23,682
Restricted cash, non-current	25,348	24,203
Other assets	10,065	10,453
Total assets	768,799	773,337
Current liabilities:
Accounts payable	23,599	33,121
Accrued expenses	59,686	56,956
Deferred revenue	41,589	41,273
Current debt	7,400	7,405
Derivative warrant liabilities		6,922
Operating lease liabilities, current	3,083	3,462
Other current liabilities	13,443	22,001
Total current liabilities	148,800	171,140
Long-term debt – less current portion	29	7,088
Deferred tax liability	15,767	15,009
Operating lease liabilities, non-current	2,940	3,284
Total liabilities	167,536	196,521
Commitments and contingencies (Note 16)
Shareholders' deficit
Additional paid-in capital	1,625,076	1,568,917
Treasury stock, at cost, 4,105,948 shares at June 30, 2023; nil shares at December 31, 2022	(17,653)
Accumulated deficit	(974,419)	(938,953)
Accumulated other comprehensive loss	(33,870)	(55,169)
Total shareholders' equity	601,263	576,816
Total liabilities and shareholders' equity	768,799	773,337
Common Class B [Member]
Shareholders' deficit
Common shares, Value	2	2
Common Stock Other Than B Shares [Member]
Shareholders' deficit
Common shares, Value	$ 2,127	$ 2,019

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Treasury Stock, Common, Shares	4,105,948	0
Common Class B [Member]
Common stock par or stated value per share	$ 0.0001	$ 0.0001
Common stock shares authorized	22,500,000	22,500,000
Common stock shares issued	18,500,000	18,500,000
Common stock shares outstanding	18,500,000	18,500,000
Common Stock Other Than B Shares [Member]
Common stock par or stated value per share	$ 0.01	$ 0.01
Common Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited	Unlimited
Common stock shares issued	212,726,102	201,853,695
Common stock shares outstanding	208,620,154	201,853,695

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 86,847	$ 71,117	$ 184,076	$ 157,040
Cost of revenue	62,173	61,817	149,870	163,192
Gross profit (loss)	24,674	9,300	34,206	(6,152)
Operating expenses:
Sales and marketing	6,589	8,973	13,980	18,205
Research and development	5,812	7,734	12,081	15,125
General and administrative	19,618	32,282	37,692	65,086
Transaction expenses	496	0	1,324	128
Total operating expense	32,515	48,989	65,077	98,544
Loss from operations	(7,841)	(39,689)	(30,871)	(104,696)
Interest (expense) income, net	(202)	(375)	216	(766)
Loss on disposal of assets	(11)	(1)	(22)	(7)
(Loss) gain on fair value remeasurement of contingent consideration	(376)	0	(2,809)	4,408
Change in fair value of derivative warrant liabilities	0	4,678	(534)	13,420
Gain on foreign currency	1,496	30,122	2,297	42,754
Total other income (expense)	907	34,424	(852)	59,809
Loss before income taxes	(6,934)	(5,265)	(31,723)	(44,887)
Income tax (expense) benefit	(3,952)	61	(4,600)	(515)
Gain from equity method investment	588	449	857	449
Net loss	$ (10,298)	$ (4,755)	$ (35,466)	$ (44,953)
Loss per share attributable to common stockholders:
Basic	$ (0.05)	$ (0.02)	$ (0.17)	$ (0.23)
Diluted	$ (0.05)	$ (0.02)	$ (0.17)	$ (0.23)
Weighted average common stock outstanding:
Basic	208,505,216	198,347,397	207,362,662	197,060,987
Diluted	208,505,216	198,347,397	207,362,662	197,060,987

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (10,298)	$ (4,755)	$ (35,466)	$ (44,953)
Other comprehensive income (loss):
Foreign currency translation adjustments	12,331	(72,995)	21,299	(102,521)
Comprehensive income (loss)	$ 2,033	$ (77,750)	$ (14,167)	$ (147,474)

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common shares [member] Common Class B [Member]	Common shares [member] Common Stock Other Than B Shares [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [member]
Beginning Balance, Permanent Equity at Dec. 31, 2021	$ 706,178	$ 2	$ 1,936	$ 1,461,730		$ (757,317)	$ (173)
Beginning Balance, Permanent Equity (Shares) at Dec. 31, 2021		18,500,000	193,585,625
Net loss	(40,198)					(40,198)
Foreign currency translation adjustment	(29,526)						(29,526)
Issuance of common stock in connection with business combinations	17,452		$ 27	17,425
Issuance of common stock in connection with business combinations (Shares)			2,701,576
Stock-based compensation	37,180			37,180
Vesting of restricted shares			$ 16	(16)
Vesting of restricted shares (Shares)			1,622,776
Ending Balance, Permanent Equity at Mar. 31, 2022	691,086	$ 2	$ 1,979	1,516,319		(797,515)	(29,699)
Ending Balance, Permanent Equity (Shares) at Mar. 31, 2022		18,500,000	197,909,977
Beginning Balance, Permanent Equity at Dec. 31, 2021	706,178	$ 2	$ 1,936	1,461,730		(757,317)	(173)
Beginning Balance, Permanent Equity (Shares) at Dec. 31, 2021		18,500,000	193,585,625
Net loss	(44,953)
Ending Balance, Permanent Equity at Jun. 30, 2022	636,828	$ 2	$ 1,996	1,539,794		(802,270)	(102,694)
Ending Balance, Permanent Equity (Shares) at Jun. 30, 2022		18,500,000	199,574,545
Beginning Balance, Permanent Equity at Mar. 31, 2022	691,086	$ 2	$ 1,979	1,516,319		(797,515)	(29,699)
Beginning Balance, Permanent Equity (Shares) at Mar. 31, 2022		18,500,000	197,909,977
Net loss	(4,755)					(4,755)
Foreign currency translation adjustment	(72,995)						(72,995)
Stock-based compensation	23,492			23,492
Vesting of restricted shares			$ 17	(17)
Vesting of restricted shares (Shares)			1,664,568
Ending Balance, Permanent Equity at Jun. 30, 2022	636,828	$ 2	$ 1,996	1,539,794		(802,270)	(102,694)
Ending Balance, Permanent Equity (Shares) at Jun. 30, 2022		18,500,000	199,574,545
Beginning Balance, Permanent Equity at Dec. 31, 2022	576,816	$ 2	$ 2,019	1,568,917	$ 0	(938,953)	(55,169)
Beginning Balance, Permanent Equity (Shares) at Dec. 31, 2022		18,500,000	201,853,695		0
Net loss	(25,168)					(25,168)
Foreign currency translation adjustment	8,968						8,968
Issuance of common stock in connection with business combinations	8,440		$ 17	8,423
Issuance of common stock in connection with business combinations (Shares)			1,677,920
Stock-based compensation	10,543			10,543
Vesting of shares			$ 10	(10)
Vesting of shares (Shares)			953,117
Issuance (acquisition) of common shares in connection with warrant redemptions (Shares)			7,668,280		(4,105,948)
Issuance (acquisition) of common shares in connection with warrant redemptions	14,300		$ 76	31,877	$ (17,653)
Ending Balance, Permanent Equity at Mar. 31, 2023	593,899	$ 2	$ 2,122	1,619,750	$ (17,653)	(964,121)	(46,201)
Ending Balance, Permanent Equity (Shares) at Mar. 31, 2023		18,500,000	212,153,012		(4,105,948)
Beginning Balance, Permanent Equity at Dec. 31, 2022	576,816	$ 2	$ 2,019	1,568,917	$ 0	(938,953)	(55,169)
Beginning Balance, Permanent Equity (Shares) at Dec. 31, 2022		18,500,000	201,853,695		0
Net loss	(35,466)
Ending Balance, Permanent Equity at Jun. 30, 2023	601,263	$ 2	$ 2,127	1,625,076	$ (17,653)	(974,419)	(33,870)
Ending Balance, Permanent Equity (Shares) at Jun. 30, 2023		18,500,000	212,726,102		(4,105,948)
Beginning Balance, Permanent Equity at Mar. 31, 2023	593,899	$ 2	$ 2,122	1,619,750	$ (17,653)	(964,121)	(46,201)
Beginning Balance, Permanent Equity (Shares) at Mar. 31, 2023		18,500,000	212,153,012		(4,105,948)
Net loss	(10,298)					(10,298)
Foreign currency translation adjustment	12,331						12,331
Issuance of common stock in connection with business combinations	1,717		$ 4	1,713
Issuance of common stock in connection with business combinations (Shares)			385,777
Stock-based compensation	3,614			3,614
Vesting of restricted shares			$ 1	(1)
Vesting of restricted shares (Shares)			187,313
Ending Balance, Permanent Equity at Jun. 30, 2023	$ 601,263	$ 2	$ 2,127	$ 1,625,076	$ (17,653)	$ (974,419)	$ (33,870)
Ending Balance, Permanent Equity (Shares) at Jun. 30, 2023		18,500,000	212,726,102		(4,105,948)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (35,466)	$ (44,953)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	35,032	34,752
Loss on disposal of assets	22	7
Loss (gain) on fair value remeasurement of contingent consideration	2,809	(4,408)
Stock-based compensation	14,185	60,677
Change in fair value of derivative warrant liabilities	534	(13,420)
Non-cash interest expense, net	170	350
Non-cash lease expense	1,955	3,426
Amortization of contract cost	473	445
Deferred income taxes	47	8
Provision for doubtful accounts	250	362
Gain from equity method investment	(857)	(449)
Gain on foreign currency remeasurement	(2,228)	(33,816)
Changes in operating assets and liabilities
Accounts receivable	(24,746)	16,276
Contract asset	3,125	(7,213)
Prepaid expenses	(3,070)	(3,975)
Other current assets	911	2,546
Other assets	488	(3,664)
Accounts payable	(10,843)	(5,929)
Accrued expenses	35	(9,657)
Deferred revenue	(1,600)	7,377
Other current liabilities	(1,887)	12,306
Operating lease liabilities	(2,049)	(3,421)
Other liabilities	0	(9,813)
Net cash used in operating activities	(22,710)	(2,186)
Cash flows from investing activities:
Purchases of property and equipment	(1,002)	(2,232)
Capitalization of internally developed software costs	(21,232)	(21,741)
Distributions from (contribution to) equity method investments	1,555	(7,871)
Equity investments without readily determinable fair values	0	(150)
Purchases of intangible assets	(238)	0
Acquisition of business, net of cash acquired	0	(20)
Proceeds from disposal of assets	30	121
Net cash used in investing activities	(20,887)	(31,893)
Cash flows from financing activities:
Repayment of loans and mortgage	(10)	0
Proceeds from exercise of Public Warrants	6,812	0
Repayment of promissory notes	(7,387)	0
Net cash used in financing activities	(585)	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash	322	(13,318)
Net decrease in cash, cash equivalents and restricted cash	(43,860)	(47,397)
Cash, cash equivalents and restricted cash at beginning of period	159,020	222,378
Cash, cash equivalents and restricted cash at end of period	115,160	174,981
Supplemental disclosure of cash activities:
Cash paid during the period for interest	(329)	(416)
Cash paid during the period for income taxes	(2,781)	(1,204)
Supplemental disclosure of noncash investing and financing activities:
Shares acquired by subsidiary from cashless Public Warrant exercise	17,653	0
Promissory notes arising from equity method investments	0	14,688
Issuance of common stock in connection with business combinations	$ 10,157	$ 17,452

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 1. Description of Business and Summary of Significant Accounting Policies Description of Business Genius Sports Limited (the “Company” or “Genius”) is a non-cellular company limited by shares incorporated on October 21, 2020 under the laws of Guernsey. The Company was formed for the purpose of effectuating a merger pursuant to a definitive business combination agreement (“Business Combination Agreement”), dated October 27, 2020, by and among dMY Technology Group, Inc. II (“dMY”), Maven Topco Limited (“Maven Topco”), Maven Midco Limited, Galileo NewCo Limited, Genius Merger Sub, Inc., and dMY Sponsor II, LLC (the “Merger”). Upon the closing of the Merger on April 20, 2021 (the “Closing”), the Company changed its name from Galileo NewCo Limited to Genius Sports Limited. The Company’s ordinary shares are currently listed on the New York Stock Exchange (“NYSE”) under the symbol “GENI”. The Company is a provider of scalable, technology-led products and services to the sports, sports betting, and sports media industries. The Company is a data and technology company that enables consumer-facing businesses such as sports leagues, sportsbook operators and media companies to engage with their customers. The scope of the Company’s software bridges the entire sports data journey, from intuitive applications that enable accurate real-time data capture, to the creation and provision of in-game betting odds and digital content that helps the Company’s customers create engaging experiences for the ultimate end-users, who are primarily sports fans. Basis of Presentation and Principles of Consolidation The Merger was accounted for as a reverse capitalization in accordance with accounting principles accepted in the United States of America (“US GAAP”). The Merger was first accounted for as a capital reorganization whereby the Company was the successor to its predecessor Maven Topco. As a result of the first step described above, the existing shareholders of Maven Topco continued to retain control through ownership of the Company. The capital reorganization was immediately followed by the acquisition of dMY, which was accounted for within the scope of Accounting Standards Codification (“ASC”) 805, Business Combinations (“ASC 805”). Under this method of accounting, dMY was treated as the “acquired” company for financial reporting purposes. This determination was primarily based on post-combination relative voting rights, composition of the governing board, relative size of the pre-combination entities, and intent of the Merger. Accordingly, for accounting purposes, the Merger was treated as the equivalent of the Company issuing stock for the net assets of dMY, accompanied by a recapitalization. The net assets of dMY were stated at historical cost, which approximated fair value, with no goodwill or other intangible assets recorded. Operations prior to the Merger are those of legacy Maven Topco. Upon Closing, outstanding capital stock of legacy shareholders of Maven Topco was converted to the Company’s common stock, in an amount determined by application of the exchange ratio of 37.38624 (“Exchange Ratio”), which was based on Maven Topco’s implied price per share prior to the Merger. For periods prior to the Merger, the reported share and per share amounts have been retroactively converted by applying the Exchange Ratio. The accompanying unaudited condensed consolidated financial statements are presented in conformity with US GAAP and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes thereto included in our 2022 20-F. The condensed consolidated balance sheet as of December 31, 2022, included herein, was derived from the audited financial statements of the Company as of that date. The unaudited condensed consolidated interim financial statements, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Company’s financial position as of June 30, 2023, its results of operations, comprehensive income (loss) and shareholders’ equity for the three and six months ended June 30, 2023 and 2022, and its cash flows for the six months ended June 30, 2023 and 2022. The results of the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the year ended December 31, 2023 or for any interim period or for any other future year. The condensed consolidated financial statements include the accounts and operations of the Company, inclusive of its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts reported in our condensed consolidated financial statements and notes thereto have been reclassified to conform to current period presentation. Treasury Stock Treasury stock represents the shares of the Company that are held in treasury. Treasury stock is recorded at cost and deducted from shareholders’ equity. Recent Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which is intended to improve the accounting for acquired revenue contracts with customers in a business combination. ASU 2021-08 is effective for the Company beginning January 1, 2024, with early adoption permitted. The Company is currently in the process of evaluating the effects of this pronouncement on the Company’s condensed consolidated financial statements and does not expect it to have a material impact on the condensed consolidated financial statements. There are no other accounting pronouncements that are not yet effective and that are expected to have a material impact to the condensed consolidated financial statements. Recently Adopted Accounting Guidance In February 2016, the FASB issued ASU 2016-02, Leases . The guidance in ASU 2016-02 and subsequently issued amendments requires lessees to capitalize virtually all leases with terms of more than twelve months on the balance sheet as a right-of-use asset and recognize an associated lease liability. The right-of-use asset represents the lessee’s right to use, or control the use of, a specified asset for the specified lease term. The lease liability represents the lessee’s obligation to make lease payments arising from the lease, measured on a discounted basis. Based on certain characteristics, leases are classified as financing or operating leases and their classification affects the recognition of expense in the income statement. Lessor accounting remains largely unchanged, other than certain targeted improvements intended to align lessor accounting with the lessee accounting model and with the updated revenue recognition guidance. The Company adopted the new standard on January 1, 2022 using the modified retrospective approach by recognizing and measuring leases without revising comparative period information or disclosures. The Company elected the transition package of practical expedients permitted within the standard, which allowed the Company to carry forward assessments on whether a contract was or contains a lease, historical lease classification and initial direct costs for any leases that existed prior to adoption date. On the adoption date, the Company recorded operating right-of-use assets of $18.4 million, including an offsetting lease incentive of $1.1 million, along with associated operating lease liabilities of $19.5 million. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments, which, together with subsequent amendments, amends the requirement on the measurement and recognition of expected credit losses for financial assets held. ASU 2016-13 was effective for the Company beginning January 1, 2023, with early adoption permitted. The Company adopted ASU 2016-13 on January 1, 2023. The adoption of the standard did not have a material impact on the condensed consolidated financial statements.

Revenue

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Note 2. Revenue

Disaggregation of Revenues

Revenue by Major Product Line


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenue by Product Line
Betting Technology, Content and Services	$	56,862	$	44,831	$	121,602	$	94,552
Media Technology, Content and Services		18,357		14,999		40,121		39,128
Sports Technology and Services		11,628		11,287		22,353		23,360

Total	$	86,847	$	71,117	$	184,076	$	157,040

Revenue by Geographic Market

Geographical regions are determined based on the region in which the customer is headquartered or domiciled. Revenues by geographical market consists of the following (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenue by geographical market:
Europe	$	52,742	$	43,901	$	107,762	$	88,141
Americas		29,396		21,422		66,640		57,450
Rest of the world		4,709		5,794		9,674		11,449

Total	$	86,847	$	71,117	$	184,076	$	157,040

Revenues by Major Customers

No customers accounted for 10% or more of revenue in the three and six months ended June 30, 2023 and 2022.

Revenue from Other Sources

Remaining Performance Obligations

Contract Balances

The timing of revenue recognition may differ from the timing of invoicing to customers, and these timing differences result in receivables (see Note 4 –

Accounts Receivable, Net

The Company expects to recognize substantially all of the deferred revenue as of June 30, 2023 within the next 12 months.

Cash, Cash Equivalents and Restricted Cash

6 Months Ended

Jun. 30, 2023

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Restricted Cash

Note 3. Cash, Cash Equivalents and Restricted Cash

Cash, cash equivalents and restricted cash as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


	June 30,		December 31,
	2023		2022
Cash and cash equivalents	$	89,812	$	122,715
Restricted cash, current and non-current		25,348		36,305

Cash, cash equivalents and restricted cash	$	115,160	$	159,020

Commitments and Contingencies

Accounts Receivable, Net	6 Months Ended
Accounts Receivable, Net	Jun. 30, 2023
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts Receivable, Net	Note 4. Accounts Receivable, Net As of June 30, 2023, accounts receivable, net consisted of accounts receivable of $64.6 million less allowance for doubtful accounts of $2.8 million. As of December 31, 2022, accounts receivable, net consisted of accounts receivable of $35.9 million less allowance for doubtful accounts of $2.5 million.

Intangible Assets, Net

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Note 5. Intangible Assets, Net

Intangible assets subject to amortization as of June 30, 2023 consist of the following (in thousands, except years):


	Weighted Average Remaining Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(years)
Data rights	5	$	66,763	$	32,147	$	34,616
Marketing products	7		58,834		30,993		27,841
Technology	1		106,019		84,525		21,494
Capitalized software	2		130,277		69,315		60,962

Total intangible assets		$	361,893	$	216,980	$	144,913

Intangible assets subject to amortization as of December 31, 2022 consist of the following (in thousands, except years):


	Weighted Average Remaining Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(years)
Data rights	6	$	63,748	$	27,508	$	36,240
Marketing products	7		56,178		23,570		32,608
Technology	1		100,999		70,312		30,687
Capitalized software	2		103,568		53,855		49,713

Total intangible assets		$	324,493	$	175,245	$	149,248

Goodwill

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Note 6. Goodwill

Changes in the carrying amount of goodwill for the six months ended June 30, 2023 is summarized as follows (in thousands):


Balance as of December 31, 2022	$	309,894
Effect of currency translation remeasurement		14,655

Balance as of June 30, 2023	$	324,549

No impairment of goodwill was recognized for the three and six months ended June 30, 2023 and 2022.

Other Assets

6 Months Ended

Jun. 30, 2023

Other Assets [Abstract]

Other Assets

Note 7. Other Assets

Other assets (current and long-term) as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


	June 30, 2023		December 31, 2022
Other current assets:
Non-trade receivables	$	386	$	1,385
Inventory		429		283

Total other current assets	$	815	$	1,668

Other assets:
Security deposit	$	1,697	$	1,364
Corporate tax receivable		3,581		5,472
Sales tax receivable		2,850		1,779
Contract costs		1,937		1,838

Total other assets	$	10,065	$	10,453

Debt

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Debt

Note 8. Debt

The following table summarizes outstanding debt balances as of June 30, 2023 and December 31, 2022 (in thousands):


Instrument	Date of Issuance		Maturity Date		Effective interest rate			June 30, 2023			December 31, 2022
Genius Sports Italy Srl Mortgage		December 2010		December 2025		5.0	%	$	52		$	62
Promissory Note		January 2022		January 2024		4.7	%		7,377			14,431

								$	7,429		$	14,493
Less current portion of debt									(7,400	)		(7,405	)

Non-current portion of debt								$	29		$	7,088

Genius Sports Italy Srl Mortgage

Promissory Notes

Secured Overdraft Facility

Interest Expense

Debt Maturities

Expected future payments for all borrowings as of June 30, 2023 are as follows:


Fiscal Period:	(in thousands)
2023 (Remaining)	$	12
2024		7,400
2025		17
2026		—
2027		—
Thereafter		—

Total payment outstanding	$	7,429

Derivative Warrant Liabilities	6 Months Ended
Derivative Warrant Liabilities	Jun. 30, 2023
Derivative Warrant Liabilities [Abstract]
Derivative Warrant Liabilities	Note 9. Derivative Warrant Liabilities As part of dMY’s initial public offering (“IPO”) in 2020, dMY issued 9,200,000 warrants to third party investors, and each whole warrant entitled the holder to purchase one share of the Company’s Class A common stock at an exercise price of $11.50 per share (the “Public Warrants”). Simultaneously with the closing of the IPO, dMY completed the private sale of 5,013,333 warrants to dMY’s sponsor (“Private Placement Warrants”) and each Private Placement Warrant allowed the sponsor to purchase one share of the Company’s Class A common stock at $11.50 per share. During fiscal year 2021 the Private Placement Warrants were exercised in full. Public Warrants may only be exercised for a whole number of shares. No fractional Public Warrants will be issued upon separation of the units and only whole Public Warrants will trade. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination or (b) 12 months from the closing of the IPO. The Public Warrants had an exercise price of $11.50 per share, subject to adjustments and will expire five years after the completion of the Business Combination as of April 20, 2021 or earlier upon redemption or liquidation and are exercisable on demand. On January 20, 2023, the Company announced the successful offer to exercise and consent solicitation (the “Exercise and Consent Solicitation”) of the Company’s outstanding public warrants. Holders of 2,149,000 warrants elected to exercise their public warrants prior to the expiration date of the Exercise and Consent Solicitation on a cash basis at a reduced exercise price of $3.1816 per share, resulting in cash proceeds of $6.8 million and the issuance of 2,149,000 shares of Common Stock. Holders of 4,685,987 warrants elected to exercise their public warrants prior to the expiration date of the Exercise and Consent Solicitation on a cashless basis at a reduced exercise price of $3.1816 per share, and the remaining 833,293 public warrants were exercised automatically on a cashless basis at a reduced exercise price of $3.2933 per share. The Company issued 5,519,280 shares of Common Stock for warrants that were exercised on a cashless basis, of which 4,105,948 shares were retained as Treasury Stock. No ne of the Company’s public warrants remained outstanding as of March 31, 2023 and the warrants ceased trading on the New York Stock Exchange (“NYSE”). The Company accounts for Public Warrants as liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480, Distinguishing Liabilities from Equity (ASC 480) and ASC 815, Derivatives and Hedging (ASC 815). Specifically, the Public Warrants meet the definition of a derivative but do not qualify for an exception from derivative accounting since the warrants are not indexed to the Company’s stock and therefore, are precluded from equity classification. Since the Public Warrants meet the definition of a derivative under ASC 815, the Company recorded these warrants as liabilities on the balance sheet at fair value upon the closing of the Merger, with subsequent changes in their respective fair values recognized in the condensed consolidated statement of operations. For the three months ended June 30, 2023 and 2022, zero and a gain of $4.7 million was recognized from the change in fair value of the Public Warrants in the Company’s condensed consolidated statements of operations, respectively. For the six months ended June 30, 2023 and 2022, a loss of $0.5 million and gain of $13.4 million was recognized from the change in fair value of the Public Warrants in the Company’s condensed consolidated statements of operations, respectively.

Other Liabilities

6 Months Ended

Jun. 30, 2023

Other Liabilities Disclosure [Abstract]

Other Liabilities

Note 10. Other Liabilities

Other current liabilities as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


	June 30,		December 31,
	2023		2022
Other current liabilities:
Other payables	$	3,212	$	3,667
Deferred consideration		5,091		7,605
Contingent consideration		5,140		10,729

Total other current liabilities	$	13,443	$	22,001

Loss Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Loss Per Share

Note 11. Loss Per Share

non-participating


	Three Months ended June 30,
	2023			2022
Net loss attributable to common stockholders – basic and diluted	$	(10,298	)	$	(4,755	)
Basic and diluted weighted average common stock outstanding		208,505,216			198,347,397

Loss per share attributable to common stockholders – basic and diluted	$	(0.05	)	$	(0.02	)


	Six Months ended June 30,
	2023			2022
Net loss attributable to common stockholders – basic and diluted	$	(35,466	)	$	(44,953	)
Basic and diluted weighted average common stock outstanding		207,362,662			197,060,987

Loss per share attributable to common stockholders – basic and diluted	$	(0.17	)	$	(0.23	)


	Three and Six Months ended June 30,
	2023		2022
Stock options to purchase common stock		331,852		387,879
Unvested restricted shares		1,960,421		5,523,725
Public and private placement warrants to purchase common stock		—		7,668,381
Unvested equity-settled restricted share units		2,382,738		2,766,364
Unvested equity-settled performance-based restricted share units		4,417,850		1,778,662
Warrants issued to NFL to purchase common stock		18,500,000		18,500,000

Total		27,592,861		36,625,011

Stock-based Compensation

6 Months Ended

Jun. 30, 2023

Share-based Payment Arrangement [Abstract]

Stock-based Compensation

Note 12. Stock-based Compensation

Restricted Shares

2021 Restricted Share Plan

Second Spectrum Restricted Shares

A summary of the Company’s overall restricted shares activities for the six months ended June 30, 2023 is as follows:


	Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested restricted shares as of December 31, 2022		3,417,484		$	7.39
Vested		(281,542	)	$	8.62
Forfeited		(1,175,521	)	$	7.13

Unvested restricted shares as of June 30, 2023		1,960,421		$	7.37

As of June 30, 2023, total unrecognized compensation cost related to the restricted shares was $3.1 million and is expected to be recognized over a weighted-average service period of 0.8 years.

Stock Options

2021 Option Plan

A summary of the Company’s options activity for the six months ended June 30, 2023 is as follows:


	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
						(in years)		(in thousands)
Outstanding as of December 31, 2022		357,945		$	10.00		3.3	$	—
Forfeited		(26,093	)	$	10.00

Outstanding as of June 30, 2023		331,852		$	10.00		2.8	$	—
Exercisable as of June 30, 2023		187,343

Unvested as of June 30, 2023		144,509

2022 Employee Incentive Plan

Equity-settled Restricted Share Units

The estimated grant date fair value of the Company’s RSUs is estimated to be equal to the closing price of the Company’s common stock on each grant date.

A summary of the Company’s Equity-settled Restricted Share Units activity for the six months ended June 30, 2023 is as follows:


	Number of RSUs			Weighted Average Grant Date Fair Value per RSU
Unvested RSUs as of December 31, 2022		2,719,136		$	4.12
Granted		601,181		$	4.02
Forfeited		(78,557	)	$	4.27
Vested		(859,022	)	$	4.22

Unvested RSUs as of June 30, 2023		2,382,738		$	4.05

Cash-settled Restricted Share Units

re-measured

The estimated grant date fair value of the Company’s Cash-settled RSUs is estimated to be equal to the closing price of the Company’s common stock on each grant date.

A summary of the Company’s Cash-settled RSUs activity for the six months ended June 30, 2023 is as follows:


	Number of Cash- settled RSUs			Weighted Average Grant Date Fair Value per Cash-settled RSU
Unvested Cash-settled RSUs as of December 31, 2022		17,819		$	4.27
Vested		(5,941	)	$	4.27

Unvested Cash-settled RSUs as of June 30, 2023		11,878		$	4.27

The compensation cost recognized for Cash-settled RSUs during the three and six months ended June 30, 2023 and 2022 was less than $0.1 million.

Equity-settled Performance-Based Restricted Share Units


Time to maturity (1)		3.0	years
Common stock price (2)	$	3.75
Volatility (3)		85.0	%
Risk-free rate (4)		3.9	%
Dividend yield (5)		0.0	%

(1)	Based on contractual terms

(2)	Represents the publicly traded common stock price as of the 2022 Grant Date

(3)	Calculated based on the Company’s historical volatility over a term of 2.3 years

(4)	Based on the U.S. Constant Maturity Treasury yield curve as of the valuation date over a matching term over 3.0 years

(5)	Assumes a dividend yield of zero as the Company has no plans to declare dividends in the foreseeable future

A summary of the Company’s PSUs activity for the three months ended June 30, 2023 is as follows:


	Number of PSUs			Weighted Average Grant Date Fair Value per PSU
Unvested PSUs as of December 31, 2022		1,849,942		$	3.53
Granted		2,572,965		$	2.12
Forfeited		(5,057	)	$	3.54

Unvested PSUs as of June 30, 2023		4,417,850		$	2.71

NFL Warrants

i-gaming

The Company accounts for the License Agreement as an executory contract for the ongoing Data Feeds and the warrants will be accounted for as share-based payments to

non-employees.

A summary of the Company’s warrants activity for the six months ended June 30, 2023 is as follows:


	Number of Warrants
Outstanding as of December 31, 2022		18,500,000

Outstanding as of June 30, 2023		18,500,000

Stock-based Compensation Summary

The Company’s total stock-based compensation expense was summarized as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Cost of revenue	$	112	$	6,123	$	6,091	$	28,607
Sales and marketing		245		1,104		813		1,697
Research and development		389		1,145		830		1,367
General and administrative		2,878		15,125		6,451		29,006

Total	$	3,624	$	23,497	$	14,185	$	60,677

Fair Value Measurements

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 13. Fair Value Measurements

•

Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

•

The Public Warrants were classified as Level 1 financial instruments. The fair value of Public Warrants was measured based on the listed market price of such warrants.

The change in the fair value of the derivative warrant liabilities (Public Warrants) for the six months ended June 30, 2023 is summarized as follows (in thousands):


	Public Warrants
Derivative warrant liabilities at December 31, 2022	$	6,922
Change in fair value		534
Exercise of warrants		(7,438	)
Foreign currency translation adjustments		(18	)

Derivative warrant liabilities at June 30, 2023	$	—

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2023 (in thousands):


Description	Level 1		Level 2		Level 3		Total
Liabilities:
Contingent Consideration	$	—	$	—	$	5,140	$	5,140

Total liabilities	$	—	$	—	$	5,140	$	5,140

The change in the fair value of the contingent consideration is summarized as follows (in thousands):


	2023
Beginning balance – January 1	$	10,729
Issuance of shares (1)		(8,440	)
Loss on fair value remeasurement of contingent consideration (2)		2,809
Foreign currency translation adjustments		42

Ending balance – June 30	$	5,140

(1)	On February 21, 2023, the Company issued 1,677,920 additional ordinary shares to the sellers of Second Spectrum that received equity consideration, pursuant to the terms and conditions of the business combination agreement.

(2)	Loss on fair value remeasurement of contingent consideration mainly relates to the Second Spectrum acquisition.

As of June 30, 2023, the Company had no transfers between levels of the fair value hierarchy of its assets or liabilities measured at fair value.

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 14. Income Taxes The Company had an income tax expense of $4.0 million and income tax benefit of $0.1 million, relative to pre-tax loss of $6.9 million and $5.3 million for the three months ended June 30, 2023 and 2022, respectively. The Company had an income tax expense of $4.6 million and $0.5 million, relative to pre-tax loss of $31.7 million and $44.9 million for the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023 and December 31, 2022, the Company had no unrecognized tax benefits.

Operating Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Operating Leases

Note 15. Operating Leases

The Company leases office and data center facilities under operating lease agreements.

Some


	Three months ended June 30,						Six months ended June 30,
	2023			2022			2023			2022
Operating lease cost	$	1,073		$	1,595		$	2,089		$	3,267
Short term lease cost		155			101			443			203
Variable lease cost		118			100			186			202
Sublease income		(257	)		(302	)		(567	)		(612	)

Total lease cost	$	1,089		$	1,494		$	2,151		$	3,060

Other information related to leases is summarized as follows (in thousands, except lease term and discount rate):


	Six months ended June 30,
	2023			2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,049		$	3,421
Right-of-use assets obtained in exchange for new operating lease liabilities		1,113			—
Weighted-average remaining lease term (in years):
Operating leases		2.1			2.7
Weighted-average discount rate:
Operating leases		2.7	%		1.6	%

During the six months ended June 30, 2023, the Company entered into a long-term lease for office space in London, United Kingdom, resulting in additional lease liabilities of $1.1 million.

As of June 30, 2023, the maturity of lease liabilities are as follows (in thousands):


	(in thousands)
2023 (Remaining)	$	1,707
2024		2,783
2025		1,441
2026		283
2027		—
Thereafter		—
Total minimum lease payments		6,214
Less: Imputed interest		(191	)

Present value of lease liabilities	$	6,023

The

right-of-use

assets and liabilities derecognized upon termination of lease contracts were as follows (in thousands):


	Six months ended June 30,
	2023		2022
Leases terminated		—		2
Right-of-use assets derecognized upon lease termination	$	—	$	177
Lease liabilities derecognized upon lease termination		—		177

Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 16. Commitments and Contingencies

Sports Data License Agreements


	(in thousands)
2023 (Remaining)	$	75,750
2024		176,963
2025		158,512
2026		161,036
2027		175,545
Thereafter		84,686

Total	$	832,492

Purchase Obligations

General Litigation

As of June 30, 2023, the Company is not party to active litigation.

Bank Letters of Credit and Guarantees

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 17. Related Party Transactions The Company made payments of $0.1 million to Carbon Group Limited in respect to consultancy services provided by a director and shareholder of the Company for the three and six months ended June 30, 2023 and 2022, respectively. The Company recognized revenue of $0.3 million for the three and six months ended June 30, 2023 from CFL Ventures, in which the Company has a minority interest. In the three months ended June 30, 2023, the Company granted 67,720 RSUs to two independent members of the board of directors, vesting in April 2024. In the six months ended June 30, 2023, the Company granted 86,588 RSUs to three independent members of the board of directors, vesting between March 2024 and April 2024. The Company recognized compensation cost of $0.1 million and less than $0.1 million during the three months ended June 30, 2023 and 2022, respectively and $0.3 million and $0.1 million during the six months ended June 30, 2023 and 2022, respectively, in general and administrative expense in the condensed consolidated statements of operations for awards granted to independent members of the board of directors.

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 18. Subsequent Events In preparing the condensed consolidated financial statements as of June 30, 2023, the Company has evaluated subsequent events through August 7, 2023, which is the date the condensed consolidated financial statements were issued.

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The Merger was accounted for as a reverse capitalization in accordance with accounting principles accepted in the United States of America (“US GAAP”). The Merger was first accounted for as a capital reorganization whereby the Company was the successor to its predecessor Maven Topco. As a result of the first step described above, the existing shareholders of Maven Topco continued to retain control through ownership of the Company. The capital reorganization was immediately followed by the acquisition of dMY, which was accounted for within the scope of Accounting Standards Codification (“ASC”) 805, Business Combinations (“ASC 805”). Under this method of accounting, dMY was treated as the “acquired” company for financial reporting purposes. This determination was primarily based on post-combination relative voting rights, composition of the governing board, relative size of the pre-combination entities, and intent of the Merger. Accordingly, for accounting purposes, the Merger was treated as the equivalent of the Company issuing stock for the net assets of dMY, accompanied by a recapitalization. The net assets of dMY were stated at historical cost, which approximated fair value, with no goodwill or other intangible assets recorded. Operations prior to the Merger are those of legacy Maven Topco. Upon Closing, outstanding capital stock of legacy shareholders of Maven Topco was converted to the Company’s common stock, in an amount determined by application of the exchange ratio of 37.38624 (“Exchange Ratio”), which was based on Maven Topco’s implied price per share prior to the Merger. For periods prior to the Merger, the reported share and per share amounts have been retroactively converted by applying the Exchange Ratio. The accompanying unaudited condensed consolidated financial statements are presented in conformity with US GAAP and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes thereto included in our 2022 20-F. The condensed consolidated balance sheet as of December 31, 2022, included herein, was derived from the audited financial statements of the Company as of that date. The unaudited condensed consolidated interim financial statements, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Company’s financial position as of June 30, 2023, its results of operations, comprehensive income (loss) and shareholders’ equity for the three and six months ended June 30, 2023 and 2022, and its cash flows for the six months ended June 30, 2023 and 2022. The results of the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the year ended December 31, 2023 or for any interim period or for any other future year. The condensed consolidated financial statements include the accounts and operations of the Company, inclusive of its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts reported in our condensed consolidated financial statements and notes thereto have been reclassified to conform to current period presentation.
Treasury Stock	Treasury Stock Treasury stock represents the shares of the Company that are held in treasury. Treasury stock is recorded at cost and deducted from shareholders’ equity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which is intended to improve the accounting for acquired revenue contracts with customers in a business combination. ASU 2021-08 is effective for the Company beginning January 1, 2024, with early adoption permitted. The Company is currently in the process of evaluating the effects of this pronouncement on the Company’s condensed consolidated financial statements and does not expect it to have a material impact on the condensed consolidated financial statements. There are no other accounting pronouncements that are not yet effective and that are expected to have a material impact to the condensed consolidated financial statements.
Recently Adopted Accounting Guidance	Recently Adopted Accounting Guidance In February 2016, the FASB issued ASU 2016-02, Leases . The guidance in ASU 2016-02 and subsequently issued amendments requires lessees to capitalize virtually all leases with terms of more than twelve months on the balance sheet as a right-of-use asset and recognize an associated lease liability. The right-of-use asset represents the lessee’s right to use, or control the use of, a specified asset for the specified lease term. The lease liability represents the lessee’s obligation to make lease payments arising from the lease, measured on a discounted basis. Based on certain characteristics, leases are classified as financing or operating leases and their classification affects the recognition of expense in the income statement. Lessor accounting remains largely unchanged, other than certain targeted improvements intended to align lessor accounting with the lessee accounting model and with the updated revenue recognition guidance. The Company adopted the new standard on January 1, 2022 using the modified retrospective approach by recognizing and measuring leases without revising comparative period information or disclosures. The Company elected the transition package of practical expedients permitted within the standard, which allowed the Company to carry forward assessments on whether a contract was or contains a lease, historical lease classification and initial direct costs for any leases that existed prior to adoption date. On the adoption date, the Company recorded operating right-of-use assets of $18.4 million, including an offsetting lease incentive of $1.1 million, along with associated operating lease liabilities of $19.5 million. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments, which, together with subsequent amendments, amends the requirement on the measurement and recognition of expected credit losses for financial assets held. ASU 2016-13 was effective for the Company beginning January 1, 2023, with early adoption permitted. The Company adopted ASU 2016-13 on January 1, 2023. The adoption of the standard did not have a material impact on the condensed consolidated financial statements.

Revenue (Tables)

6 Months Ended

Jun. 30, 2023

Disaggregation of Revenue [Line Items]

Schedule of Disaggregation of Revenue

Revenue for the Company’s major product lines consists of the following (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenue by Product Line
Betting Technology, Content and Services	$	56,862	$	44,831	$	121,602	$	94,552
Media Technology, Content and Services		18,357		14,999		40,121		39,128
Sports Technology and Services		11,628		11,287		22,353		23,360

Total	$	86,847	$	71,117	$	184,076	$	157,040

Geographical regions are determined based on the region in which the customer is headquartered or domiciled. Revenues by geographical market consists of the following (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenue by geographical market:
Europe	$	52,742	$	43,901	$	107,762	$	88,141
Americas		29,396		21,422		66,640		57,450
Rest of the world		4,709		5,794		9,674		11,449

Total	$	86,847	$	71,117	$	184,076	$	157,040

Cash, Cash Equivalents and Restricted Cash (Tables)

6 Months Ended

Jun. 30, 2023

Cash and Cash Equivalents [Abstract]

Summary of Cash and Cash Equivalents

Cash, cash equivalents and restricted cash as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


	June 30,		December 31,
	2023		2022
Cash and cash equivalents	$	89,812	$	122,715
Restricted cash, current and non-current		25,348		36,305

Cash, cash equivalents and restricted cash	$	115,160	$	159,020

Goodwill (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Movement Of Goodwill

Changes in the carrying amount of goodwill for the six months ended June 30, 2023 is summarized as follows (in thousands):


Balance as of December 31, 2022	$	309,894
Effect of currency translation remeasurement		14,655

Balance as of June 30, 2023	$	324,549

Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets Subject To Amortization

Intangible assets subject to amortization as of June 30, 2023 consist of the following (in thousands, except years):


	Weighted Average Remaining Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(years)
Data rights	5	$	66,763	$	32,147	$	34,616
Marketing products	7		58,834		30,993		27,841
Technology	1		106,019		84,525		21,494
Capitalized software	2		130,277		69,315		60,962

Total intangible assets		$	361,893	$	216,980	$	144,913

Intangible assets subject to amortization as of December 31, 2022 consist of the following (in thousands, except years):


	Weighted Average Remaining Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(years)
Data rights	6	$	63,748	$	27,508	$	36,240
Marketing products	7		56,178		23,570		32,608
Technology	1		100,999		70,312		30,687
Capitalized software	2		103,568		53,855		49,713

Total intangible assets		$	324,493	$	175,245	$	149,248

Other Assets (Tables)

6 Months Ended

Jun. 30, 2023

Other Assets [Abstract]

Summary of Other Assets

Other assets (current and long-term) as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


	June 30, 2023		December 31, 2022
Other current assets:
Non-trade receivables	$	386	$	1,385
Inventory		429		283

Total other current assets	$	815	$	1,668

Other assets:
Security deposit	$	1,697	$	1,364
Corporate tax receivable		3,581		5,472
Sales tax receivable		2,850		1,779
Contract costs		1,937		1,838

Total other assets	$	10,065	$	10,453

Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Summary of Outstanding Debt

The following table summarizes outstanding debt balances as of June 30, 2023 and December 31, 2022 (in thousands):


Instrument	Date of Issuance		Maturity Date		Effective interest rate			June 30, 2023			December 31, 2022
Genius Sports Italy Srl Mortgage		December 2010		December 2025		5.0	%	$	52		$	62
Promissory Note		January 2022		January 2024		4.7	%		7,377			14,431

								$	7,429		$	14,493
Less current portion of debt									(7,400	)		(7,405	)

Non-current portion of debt								$	29		$	7,088

Summary of Expected Future Payments

Expected future payments for all borrowings as of June 30, 2023 are as follows:


Fiscal Period:	(in thousands)
2023 (Remaining)	$	12
2024		7,400
2025		17
2026		—
2027		—
Thereafter		—

Total payment outstanding	$	7,429

Other Liabilities (Tables)

6 Months Ended

Jun. 30, 2023

Other Liabilities Disclosure [Abstract]

Summary of Other Current Liabilities

Other current liabilities as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


	June 30,		December 31,
	2023		2022
Other current liabilities:
Other payables	$	3,212	$	3,667
Deferred consideration		5,091		7,605
Contingent consideration		5,140		10,729

Total other current liabilities	$	13,443	$	22,001

Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Summary of Loss Per Share And weighted Average Shares


	Three Months ended June 30,
	2023			2022
Net loss attributable to common stockholders – basic and diluted	$	(10,298	)	$	(4,755	)
Basic and diluted weighted average common stock outstanding		208,505,216			198,347,397

Loss per share attributable to common stockholders – basic and diluted	$	(0.05	)	$	(0.02	)


	Six Months ended June 30,
	2023			2022
Net loss attributable to common stockholders – basic and diluted	$	(35,466	)	$	(44,953	)
Basic and diluted weighted average common stock outstanding		207,362,662			197,060,987

Loss per share attributable to common stockholders – basic and diluted	$	(0.17	)	$	(0.23	)

Summary of Antidilutive Securities Excluded From Computation of Earning Per Share


	Three and Six Months ended June 30,
	2023		2022
Stock options to purchase common stock		331,852		387,879
Unvested restricted shares		1,960,421		5,523,725
Public and private placement warrants to purchase common stock		—		7,668,381
Unvested equity-settled restricted share units		2,382,738		2,766,364
Unvested equity-settled performance-based restricted share units		4,417,850		1,778,662
Warrants issued to NFL to purchase common stock		18,500,000		18,500,000

Total		27,592,861		36,625,011

Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]

Summary of Company's Overall Restricted Shares

A summary of the Company’s overall restricted shares activities for the six months ended June 30, 2023 is as follows:


	Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested restricted shares as of December 31, 2022		3,417,484		$	7.39
Vested		(281,542	)	$	8.62
Forfeited		(1,175,521	)	$	7.13

Unvested restricted shares as of June 30, 2023		1,960,421		$	7.37

Summary of the Company's Options Activity

A summary of the Company’s options activity for the six months ended June 30, 2023 is as follows:


	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
						(in years)		(in thousands)
Outstanding as of December 31, 2022		357,945		$	10.00		3.3	$	—
Forfeited		(26,093	)	$	10.00

Outstanding as of June 30, 2023		331,852		$	10.00		2.8	$	—
Exercisable as of June 30, 2023		187,343

Unvested as of June 30, 2023		144,509

Summary of the Company's Warrants Activity

A summary of the Company’s warrants activity for the six months ended June 30, 2023 is as follows:


	Number of Warrants
Outstanding as of December 31, 2022		18,500,000

Outstanding as of June 30, 2023		18,500,000

Summary of the Company's Total Stock-based Compensation Expense

The Company’s total stock-based compensation expense was summarized as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Cost of revenue	$	112	$	6,123	$	6,091	$	28,607
Sales and marketing		245		1,104		813		1,697
Research and development		389		1,145		830		1,367
General and administrative		2,878		15,125		6,451		29,006

Total	$	3,624	$	23,497	$	14,185	$	60,677

Equity Settled Restricted Share Units [Member]

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]

Summary of Company's Overall Restricted Shares

A summary of the Company’s Equity-settled Restricted Share Units activity for the six months ended June 30, 2023 is as follows:


	Number of RSUs			Weighted Average Grant Date Fair Value per RSU
Unvested RSUs as of December 31, 2022		2,719,136		$	4.12
Granted		601,181		$	4.02
Forfeited		(78,557	)	$	4.27
Vested		(859,022	)	$	4.22

Unvested RSUs as of June 30, 2023		2,382,738		$	4.05

Cash settled Restricted Share Units [Member]

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]

Summary of Company's Overall Restricted Shares

A summary of the Company’s Cash-settled RSUs activity for the six months ended June 30, 2023 is as follows:


	Number of Cash- settled RSUs			Weighted Average Grant Date Fair Value per Cash-settled RSU
Unvested Cash-settled RSUs as of December 31, 2022		17,819		$	4.27
Vested		(5,941	)	$	4.27

Unvested Cash-settled RSUs as of June 30, 2023		11,878		$	4.27

Equity-settled Performance-Based Restricted Share Units [Member]

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]

Summary of Fair Values of the Company's Restricted Shares


Time to maturity (1)		3.0	years
Common stock price (2)	$	3.75
Volatility (3)		85.0	%
Risk-free rate (4)		3.9	%
Dividend yield (5)		0.0	%

(1)	Based on contractual terms

(2)	Represents the publicly traded common stock price as of the 2022 Grant Date

(3)	Calculated based on the Company’s historical volatility over a term of 2.3 years

(4)	Based on the U.S. Constant Maturity Treasury yield curve as of the valuation date over a matching term over 3.0 years

(5)	Assumes a dividend yield of zero as the Company has no plans to declare dividends in the foreseeable future

Summary of Company's Overall Restricted Shares

A summary of the Company’s PSUs activity for the three months ended June 30, 2023 is as follows:


	Number of PSUs			Weighted Average Grant Date Fair Value per PSU
Unvested PSUs as of December 31, 2022		1,849,942		$	3.53
Granted		2,572,965		$	2.12
Forfeited		(5,057	)	$	3.54

Unvested PSUs as of June 30, 2023		4,417,850		$	2.71

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurements

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2023 (in thousands):


Description	Level 1		Level 2		Level 3		Total
Liabilities:
Contingent Consideration	$	—	$	—	$	5,140	$	5,140

Total liabilities	$	—	$	—	$	5,140	$	5,140

Summary of Changes in the Fair Value of Warrant Liabilities

The change in the fair value of the derivative warrant liabilities (Public Warrants) for the six months ended June 30, 2023 is summarized as follows (in thousands):


	Public Warrants
Derivative warrant liabilities at December 31, 2022	$	6,922
Change in fair value		534
Exercise of warrants		(7,438	)
Foreign currency translation adjustments		(18	)

Derivative warrant liabilities at June 30, 2023	$	—

Summary of Change in the Fair Value of the Contingent Consideration

The change in the fair value of the contingent consideration is summarized as follows (in thousands):


	2023
Beginning balance – January 1	$	10,729
Issuance of shares (1)		(8,440	)
Loss on fair value remeasurement of contingent consideration (2)		2,809
Foreign currency translation adjustments		42

Ending balance – June 30	$	5,140

(1)	On February 21, 2023, the Company issued 1,677,920 additional ordinary shares to the sellers of Second Spectrum that received equity consideration, pursuant to the terms and conditions of the business combination agreement.

(2)	Loss on fair value remeasurement of contingent consideration mainly relates to the Second Spectrum acquisition.

Operating Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Summary of Components of Lease Expenses

The components of lease expense are summarized as follows (in thousands):


	Three months ended June 30,						Six months ended June 30,
	2023			2022			2023			2022
Operating lease cost	$	1,073		$	1,595		$	2,089		$	3,267
Short term lease cost		155			101			443			203
Variable lease cost		118			100			186			202
Sublease income		(257	)		(302	)		(567	)		(612	)

Total lease cost	$	1,089		$	1,494		$	2,151		$	3,060

Summary of Information Related To Leases

Other information related to leases is summarized as follows (in thousands, except lease term and discount rate):


	Six months ended June 30,
	2023			2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,049		$	3,421
Right-of-use assets obtained in exchange for new operating lease liabilities		1,113			—
Weighted-average remaining lease term (in years):
Operating leases		2.1			2.7
Weighted-average discount rate:
Operating leases		2.7	%		1.6	%

Summary of Maturity of Lease Liability

As of June 30, 2023, the maturity of lease liabilities are as follows (in thousands):


	(in thousands)
2023 (Remaining)	$	1,707
2024		2,783
2025		1,441
2026		283
2027		—
Thereafter		—
Total minimum lease payments		6,214
Less: Imputed interest		(191	)

Present value of lease liabilities	$	6,023

Summary of Liabilities and Gains Recognized Upon Termination of Lease Contracts

The

right-of-use

assets and liabilities derecognized upon termination of lease contracts were as follows (in thousands):


	Six months ended June 30,
	2023		2022
Leases terminated		—		2
Right-of-use assets derecognized upon lease termination	$	—	$	177
Lease liabilities derecognized upon lease termination		—		177

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Summary Of Future Minimum Commitments

As of June 30, 2023, future minimum commitments under the Company’s data rights license agreements accounted for as executory contracts are as follows (in thousands):


	(in thousands)
2023 (Remaining)	$	75,750
2024		176,963
2025		158,512
2026		161,036
2027		175,545
Thereafter		84,686

Total	$	832,492

Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 01, 2022 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease right of use assets	$ 5,895	$ 6,459	$ 18,400
Offsetting lease incentive			1,100
Operating lease liabilities			$ 19,500
Maven Topcos [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Exchange Ratio	37.38624

Revenue - Schedule of Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 86,847	$ 71,117	$ 184,076	$ 157,040
Betting Technology, Content and Services [Member]
Disaggregation of Revenue [Line Items]
Revenue	56,862	44,831	121,602	94,552
Media Technology, Content and Services [Member]
Disaggregation of Revenue [Line Items]
Revenue	18,357	14,999	40,121	39,128
Sports Technology and Services [Member]
Disaggregation of Revenue [Line Items]
Revenue	11,628	11,287	22,353	23,360
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue	52,742	43,901	107,762	88,141
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue	29,396	21,422	66,640	57,450
Rest of the World [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 4,709	$ 5,794	$ 9,674	$ 11,449

Revenue - Schedule of Disaggregation of Revenue (Parenthetical) (Detail) - Sales Revenue Net [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
MT
Disaggregation of Revenue [Line Items]
Concentration risk percentage	13.00%	12.00%	11.00%	11.00%
GI
Disaggregation of Revenue [Line Items]
Concentration risk percentage	16.00%	17.00%	14.00%	14.00%
US
Disaggregation of Revenue [Line Items]
Concentration risk percentage	25.00%	23.00%	28.00%	30.00%

Revenue - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Remaining performance obligation amount	$ 437,600	$ 437,600
Performance obligation percentage to be recognized	63.00%	63.00%
Revenue recognized for variable consideration	$ 14,200	$ 32,200
Contract assets	37,069	37,069	$ 38,447
Contract liabilities	$ 41,589	$ 41,589	$ 41,273

Cash, Cash Equivalents and Restricted Cash - Summary of Cash and Cash Equivalents (Detail) $ in Thousands, £ in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 GBP (£)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 89,812		$ 122,715
Restricted cash, current and non-current	25,300	£ 20.0	36,305
Cash, cash equivalents and restricted cash	$ 115,160		$ 159,020	$ 174,981	$ 222,378

Cash, Cash Equivalents and Restricted Cash - Additional Information (Detail) $ in Thousands, £ in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 GBP (£)	Dec. 31, 2022 USD ($)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Restricted cash	$ 25,300	£ 20.0	$ 36,305

Accounts Receivable, Net - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts receivable, net of allowance for credit loss	$ 64.6	$ 35.9
Accounts receivable, allowance for credit loss	$ 2.8	$ 2.5

Goodwill - Summary Of Movement Of Goodwill (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 309,894
Effect of currency translation remeasurement	14,655
Ending Balance	$ 324,549

Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Goodwill impairment loss	$ 0	$ 0	$ 0	$ 0

Intangible Assets, Net - Summary Of Intangible Assets Subject To Amortization (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 361,893	$ 324,493
Accumulated Amortization	216,980	175,245
Total	$ 144,913	$ 149,248
Data rights [member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives	5 years	6 years
Gross Carrying Amount	$ 66,763	$ 63,748
Accumulated Amortization	32,147	27,508
Total	$ 34,616	$ 36,240
Marketing products [member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives	7 years	7 years
Gross Carrying Amount	$ 58,834	$ 56,178
Accumulated Amortization	30,993	23,570
Total	$ 27,841	$ 32,608
Technology [member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives	1 year	1 year
Gross Carrying Amount	$ 106,019	$ 100,999
Accumulated Amortization	84,525	70,312
Total	$ 21,494	$ 30,687
Capitalized software [member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives	2 years	2 years
Gross Carrying Amount	$ 130,277	$ 103,568
Accumulated Amortization	69,315	53,855
Total	$ 60,962	$ 49,713

Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 16.4	$ 16.0	$ 32.5	$ 32.4

Other Assets - Summary Of Other Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other current assets:
Non-trade receivables	$ 386	$ 1,385
Inventory	429	283
Total other current assets	815	1,668
Other assets:
Security deposit	1,697	1,364
Corporate tax receivable	3,581	5,472
Sales tax receivable	2,850	1,779
Contract costs	1,937	1,838
Total other assets	$ 10,065	$ 10,453

Debt - Summary of Outstanding Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Genius Sports Italy Srl Mortgage	$ 52	$ 62
Total	7,429	14,493
Less current portion of debt	(7,400)	(7,405)
Non-current portion of debt	29	7,088
Related Party [Member]
Debt Instrument [Line Items]
Promissory Note	$ 7,377	$ 14,431

Debt - Summary of Outstanding Debt (Parenthetical) (Detail)	6 Months Ended
	Jun. 30, 2023
Genius Sports Italy Srl Mortgage [Member]
Debt Instrument [Line Items]
Long term debt maturity month ending	2025-12
Long term debt effective rate of interest	5.00%
Promissory Notes [Member]
Debt Instrument [Line Items]
Long term debt maturity month ending	2024-01
Long term debt effective rate of interest	4.70%

Debt - Additional Information (Detail) € in Millions, $ in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 EUR (€)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 CAD ($)	Dec. 31, 2022 USD ($)	Dec. 01, 2010 EUR (€)
Interest expense	$ 0.2	$ 0.4	$ 0.5	$ 0.8
Promissory Notes [Member]
Debt Instrument, aggregate face value						$ 7.4	$ 10.0
CFL Ventures [Member] \| Promissory Notes [Member]
Debt Instrument, aggregate face value							$ 20.0
Effective interest rate					4.70%	4.70%	4.70%
CFL Ventures [Member] \| Promissory Notes [Member] \| Debt Instrument, Redemption, Period One [Member]
Debt instrument, maturity date			Jan. 01, 2023
CFL Ventures [Member] \| Promissory Notes [Member] \| Debt Instrument, Redemption, Period Two [Member]
Debt instrument, maturity date			Jan. 01, 2024
Barclays Bank Plc [Member]
Effective interest rate					4.00%	4.00%	4.00%
Line of credit, maximum amount						$ 0.0		$ 0.0
Line of credit facility, maximum borrowing capacity \| €					€ 0.2
Maven Top Holdings SARL [Member] \| Data Project SRL Mortgage [Member]
Long-term debt, gross						$ 0.1			€ 0.3

Debt - Summary of Expected Future Payments (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Debt Disclosure [Abstract]
2023 (Remaining)	$ 12
2024	7,400
2025	17
2026
2027
Thereafter
Total payment outstanding	$ 7,429

Derivative Warrant Liabilities - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 20, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Warrant Liabilities [Line Items]
Fair value adjustment of warrants		$ 0	$ (4,678)	$ 534	$ (13,420)
Common Stock [Member]
Derivative Warrant Liabilities [Line Items]
Number of securities issued by each warrant	5,519,280
Stock issued during period, shares, new issues	2,149,000
Warrant [Member]
Derivative Warrant Liabilities [Line Items]
Fair value adjustment of warrants				$ (500)	$ 13,400
Treasury Stock, Common [Member]
Derivative Warrant Liabilities [Line Items]
Number of securities issued by each warrant	4,105,948
IPO [Member] \| DMY [Member] \| Common Class A [Member]
Derivative Warrant Liabilities [Line Items]
Exercise price per share							$ 11.5
Private Placement [Member] \| DMY [Member] \| DMY Sponsor [Member] \| Common Stock [Member]
Derivative Warrant Liabilities [Line Items]
Number of securities issued by each warrant		1		1
Private Placement [Member] \| DMY [Member] \| Common Class A [Member] \| DMY Sponsor [Member]
Derivative Warrant Liabilities [Line Items]
Exercise price per share							$ 11.5
Public Warrants [Member]
Derivative Warrant Liabilities [Line Items]
Warrants elected To exercise				0
Exercise price per share						$ 11.5
Proceeds from warrants exercises	$ 6,800
Public Warrants [Member] \| Common Stock [Member]
Derivative Warrant Liabilities [Line Items]
Exercise price per share	$ 3.1816
Public Warrants [Member] \| Warrant [Member]
Derivative Warrant Liabilities [Line Items]
Warrants elected to exercise in cash basis	2,149,000
Public Warrants [Member] \| IPO [Member] \| DMY [Member]
Derivative Warrant Liabilities [Line Items]
Warrants elected To exercise							9,200,000
Public Warrants [Member] \| Warrant Exercise Price on cashless basis Range one [Member] \| Warrant [Member]
Derivative Warrant Liabilities [Line Items]
Warrants elected To exercise	4,685,987
Exercise price per share	$ 3.1816
Public Warrants [Member] \| Warrant Exercise Price on cashless basis Range Two [Member] \| Warrant [Member]
Derivative Warrant Liabilities [Line Items]
Exercise price per share	$ 3.2933
Warrants elected To exercise In cashless basis	833,293
Public Warrants [Member] \| From The Completion Of Business Combination [Member]
Derivative Warrant Liabilities [Line Items]
Warrants exercisable term from the date of completion of business combination						30 days
Public Warrants [Member] \| From The Closing Of Initial Public Offer [Member]
Derivative Warrant Liabilities [Line Items]
Warrants exercisable term from the closing of IPO						12 months
Private Placement Warrants [Member] \| Private Placement [Member] \| DMY [Member] \| DMY Sponsor [Member]
Derivative Warrant Liabilities [Line Items]
Warrants elected To exercise							5,013,333

Other Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other current liabilities:
Other payables	$ 3,212	$ 3,667
Deferred consideration	5,091	7,605
Contingent consideration	5,140	10,729
Total other current liabilities	$ 13,443	$ 22,001

Loss Per Share - Summary of Loss Per Share And weighted Average Shares (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net loss attributable to common stockholders – basic	$ (10,298)	$ (4,755)	$ (35,466)	$ (44,953)
Net loss attributable to common stockholders – diluted	$ (10,298)	$ (4,755)	$ (35,466)	$ (44,953)
Basic weighted average common stock outstanding	208,505,216	198,347,397	207,362,662	197,060,987
Diluted weighted average common stock outstanding	208,505,216	198,347,397	207,362,662	197,060,987
Loss per share attributable to common stockholders – Basic	$ (0.05)	$ (0.02)	$ (0.17)	$ (0.23)
Loss per share attributable to common stockholders – Diluted	$ (0.05)	$ (0.02)	$ (0.17)	$ (0.23)

Loss Per Share - Summary of Antidilutive Securities Excluded From Computation Of Earning Per Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	27,592,861	36,625,011	27,592,861	36,625,011
Stock options to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	331,852	387,879	331,852	387,879
Unvested restricted shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,960,421	5,523,725	1,960,421	5,523,725
Public and private placement warrants to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	7,668,381	0	7,668,381
Unvested equity-settled restricted share units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,382,738	2,766,364	2,382,738	2,766,364
Unvested equity-settled performance-based restricted share units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,417,850	1,778,662	4,417,850	1,778,662
Warrants issued to NFL to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	18,500,000	18,500,000	18,500,000	18,500,000

Stock-based Compensation - Summary of Company's Overall Restricted Shares (Detail) - $ / shares		6 Months Ended
	Jun. 15, 2021	Jun. 30, 2023
Restricted Shares [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Opening Balance, Number of Shares		3,417,484
Granted, Number of Shares	518,706
Forfeited, Number of Shares		(1,175,521)
Vested, Number of Shares		(281,542)
Ending Balance, Number of Shares		1,960,421
Opening Balance, Weighted Average Grant Date Fair Value per Share		$ 7.39
Forfeited, Weighted Average Grant Date Fair Value per Share		7.13
Vested, Weighted Average Grant Date Fair Value per Share		8.62
Ending Balance, Weighted Average Grant Date Fair Value per Share		$ 7.37
Equity Settled Restricted Share Units [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Opening Balance, Number of Shares		2,719,136
Granted, Number of Shares		601,181
Forfeited, Number of Shares		(78,557)
Vested, Number of Shares		(859,022)
Ending Balance, Number of Shares		2,382,738
Opening Balance, Weighted Average Grant Date Fair Value per Share		$ 4.12
Granted, Weighted Average Grant Date Fair Value per Share		4.02
Forfeited, Weighted Average Grant Date Fair Value per Share		4.27
Vested, Weighted Average Grant Date Fair Value per Share		4.22
Ending Balance, Weighted Average Grant Date Fair Value per Share		$ 4.05
Cash settled Restricted Share Units [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Opening Balance, Number of Shares		17,819
Vested, Number of Shares		(5,941)
Ending Balance, Number of Shares		11,878
Opening Balance, Weighted Average Grant Date Fair Value per Share		$ 4.27
Granted, Weighted Average Grant Date Fair Value per Share		4.27
Ending Balance, Weighted Average Grant Date Fair Value per Share		$ 4.27
Equity-settled Performance-Based Restricted Share Units [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Opening Balance, Number of Shares		1,849,942
Granted, Number of Shares		2,572,965
Forfeited, Number of Shares		(5,057)
Ending Balance, Number of Shares		4,417,850
Opening Balance, Weighted Average Grant Date Fair Value per Share		$ 3.53
Granted, Weighted Average Grant Date Fair Value per Share		2.12
Forfeited, Weighted Average Grant Date Fair Value per Share		3.54
Ending Balance, Weighted Average Grant Date Fair Value per Share		$ 2.71

Stock-based Compensation - Summary of Estimated Grant Date Fair Value of the Company's Options (Detail) - 2022 Employee Incentive Plan [Member] - Performance Shares [Member]

6 Months Ended

Jun. 30, 2023

$ / shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Time to maturity

3 years

^[1]

Common stock price

$ 3.75

^[2]

Volatility

85.00%

^[3]

Risk-free rate

3.90%

^[4]

Dividend yield (5)

0.00%

^[5]

[1]	Based on contractual terms
[2]	Represents the publicly traded common stock price as of the Grant Date
[3]	Calculated based on the Company’s historical volatility over a term of 2.3 years
[4]	Based on the U.S. Constant Maturity Treasury yield curve as of the valuation date over a matching term over 2.7 years
[5]	Assumes a dividend yield of zero as the Company has no plans to declare dividends in the foreseeable future

Stock-based Compensation - Summary of Estimated Grant Date Fair Value of the Company's Options (Parenthetical) (Detail) - Equity-settled Performance-Based Restricted Share Units [Member]

6 Months Ended

Jun. 30, 2023

2021 Option Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Time to maturity

2 years 3 months 18 days

2022 Employee Incentive Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Time to maturity

3 years

^[1]

[1]	Based on contractual terms

Stock-based Compensation - Summary of the Company's Options Activity (Detail) - Employee Stock Option [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Beginning Balance	357,945
Number of Options, Forfeited	(26,093)
Number of Options, Ending Balance	331,852	357,945
Number of Options, Exercisable	187,343
Number of Options, Unvested	144,509
Weighted Averaged Exercise Price , Beginning Balance	$ 10
Weighted Averaged Exercise Price,Forfeited	10
Weighted Averaged Exercise Price, Ending Balance	$ 10	$ 10
Weighted Average Remaining Contractual Life, Ending Balance	2 years 9 months 18 days	3 years 3 months 18 days
Aggregate Intrinsic Value

Stock-based Compensation - Summary of the Company's Warrants Activity (Detail) - NFL Warrants [Member]	Jun. 30, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants, Beginning Balance	18,500,000
Number of Warrants, Ending Balance	18,500,000

Stock-based Compensation - Summary of the Company's Total Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 3,624	$ 23,497	$ 14,185	$ 60,677
Cost of revenue [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	112	6,123	6,091	28,607
Sales and marketing [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	245	1,104	813	1,697
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	389	1,145	830	1,367
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 2,878	$ 15,125	$ 6,451	$ 29,006

Stock-based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 15, 2021	Apr. 01, 2021	Oct. 27, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Stock-based compensation expense				$ 3,624	$ 23,497	$ 14,185	$ 60,677
2021 Restricted Shares Plan [Member]
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Stock-based compensation expense			$ 0			183,200
Employee Stock Option [Member] \| 2021 Restricted Shares Plan [Member]
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Unrecognized compensation costs				1,000		1,000
Stock-based compensation expense					100	$ 300	500	$ 200
Weighted-average period						1 year 9 months 18 days
Total fair value of options that vested				100	300	$ 100	300
Restricted Stock Units (RSUs) [Member]
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Unrecognized compensation costs				3,100		3,100
Stock-based compensation expense				1,200	14,300	$ 3,400	28,700
Restricted shares to the founders of Second Spectrum	518,706
Percentage to be vested	50.00%
Share price	$ 17.74
Weighted-average period						9 months 18 days
Equity Settled Restricted Share Units [Member]
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Unrecognized compensation costs				6,900		$ 6,900
Stock-based compensation expense				1,300	2,200	$ 2,600	$ 2,200
Restricted shares to the founders of Second Spectrum						601,181
Weighted-average period							1 year 8 months 12 days
Cash-settled Restricted Share Units [Member]
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Unrecognized compensation costs				100		$ 100
Stock-based compensation expense				100		$ 100
Weighted-average period						1 year 7 months 6 days
Equity-settled Performance-Based Restricted Share Units [Member]
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Unrecognized compensation costs				7,800		$ 7,800
Stock-based compensation expense				$ 1,000	1,000	$ 2,000	$ 1,000
Restricted shares to the founders of Second Spectrum						2,572,965
Weighted-average period						2 years 2 months 12 days
Equity-settled Performance-Based Restricted Share Units [Member] \| Minimum [Member]
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Percentage of number of shares granted on achievement of performance						50.00%
Equity-settled Performance-Based Restricted Share Units [Member] \| Maximum [Member]
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Percentage of number of shares granted on achievement of performance						150.00%
Equity-settled Performance-Based Restricted Share Units [Member] \| Weighted Average [Member]
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Percentage of number of shares granted on achievement of performance						100.00%
NFL Warrants [Member]
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Closing price of dMY's common stock		$ 15.63
Issue of NFL aggregate warrants						18,500,000
Exercise price per share of warrants				$ 0.01		$ 0.01
Additional warrants issuance description						each warrant is issued with one share of redeemable B Share with a par value of $0.0001.
Cost recognized for the warrants				$ 5,900	$ 5,900	$ 5,900	$ 28,300
Number of warrants vested						3,000,000

Fair Value Measurements - Summary of Fair Value Measurements (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative warrant liabilities		$ 6,922
Fair Value, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative warrant liabilities	$ 5,140
Fair Value, Recurring [Member] \| Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative warrant liabilities	0
Fair Value, Recurring [Member] \| Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative warrant liabilities	0
Fair Value, Recurring [Member] \| Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative warrant liabilities	5,140
Fair Value, Recurring [Member] \| Private Placement Warrants [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative warrant liabilities	5,140
Fair Value, Recurring [Member] \| Private Placement Warrants [Member] \| Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative warrant liabilities	0
Fair Value, Recurring [Member] \| Private Placement Warrants [Member] \| Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative warrant liabilities	0
Fair Value, Recurring [Member] \| Private Placement Warrants [Member] \| Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative warrant liabilities	$ 5,140

Fair Value Measurements - Summary of Changes in the Fair Value of Warrant Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in fair value of derivative warrant liabilities	$ 0	$ (4,678)	$ 534	$ (13,420)
Public Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in fair value of derivative warrant liabilities			534
Exercise of warrants			(7,438)
Foreign currency translation adjustments			(18)
Derivative warrant liabilities	$ 0		$ 0		$ 6,922

Fair Value Measurements - Summary of Change in the Fair Value of the Contingent Consideration (Detail) - Fair Value, Recurring [Member]
$ in Thousands

6 Months Ended

Jun. 30, 2023

USD ($)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Beginning balance – January 1

$ 10,729

Issuance of shares

(8,440)

^[1]

(Gain) loss on fair value remeasurement of contingent consideration

2,809

^[2]

Foreign currency translation adjustments

Ending balance – December 31

$ 5,140

[1]

On February 21, 2023, the Company issued 1,677,920 additional ordinary shares to the sellers of Second Spectrum that received equity consideration, pursuant to the terms and conditions of the business combination agreement.

[2]

(Gain) loss on fair value remeasurement of contingent consideration mainly consist of an increase in the obligation to the former management shareholders of Second Spectrum as the lock-up period expired on December 31, 2021 and December 31, 2022. Pursuant to the terms and conditions of the business combination agreement with Second Spectrum, the Company issued an additional 2,701,576 shares of the Company’s common stock to the former Second Spectrum shareholders in the first quarter of fiscal year 2022 and will issue an additional 1,677,920 shares of the Company’s common stock to the former Second Spectrum shareholders in early 2023.

Fair Value Measurements - Summary of Change in the Fair Value of the Contingent Consideration (Parenthetical) (Detail)	Feb. 21, 2023 shares
Fair Value, Recurring [Member] \| Second Spectrum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common stock, shares issued	1,677,920

Fair Value Measurements - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Level 1, 2 and 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value hierarchy of its assets or liabilities measured at fair value	$ 0

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0		$ 0		$ 0
Income tax expense (benefit)	3,952	$ (61)	4,600	$ 515
Loss before income taxes	$ 6,900	$ 5,300	$ 31,700	$ 44,900

Operating Leases - Summary of Components of Lease Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease cost	$ 1,073	$ 1,595	$ 2,089	$ 3,267
Short term lease cost	155	101	443	203
Variable lease cost	118	100	186	202
Sublease income	(257)	(302)	(567)	(612)
Total lease cost	$ 1,089	$ 1,494	$ 2,151	$ 3,060

Operating Leases - Summary of Information Related To Leases (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating cash flows from operating leases	$ 2,049	$ 3,421
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 1,113	$ 0
Weighted-average remaining lease term (in years): Operating leases	2 years 1 month 6 days	2 years 8 months 12 days
Weighted-average discount rate: Operating leases	2.70%	1.60%

Operating Leases - Summary of Maturity of Lease Liability (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Leases [Abstract]
2023	$ 1,707
2024	2,783
2025	1,441
2026	283
2027	0
Thereafter	0
Total minimum lease payments	6,214
Less: Imputed interest	(191)
Present value of lease liabilities	$ 6,023

Operating Leases - Summary of Liabilities and Gains Recognized Upon Termination of Lease Contracts (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) Year	Jun. 30, 2022 USD ($) Year
Leases [Abstract]
Leases terminated \| Year	0	2
Right-of-use assets derecognized upon lease termination	$ 0	$ 177
Lease liabilities derecognized upon lease termination	$ 0	$ 177

Operating Leases - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating Leased Assets [Line Items]
Term of lease agreement	5 years
additional lease liabilities	$ (2,049)	$ (3,421)
UNITED KINGDOM
Operating Leased Assets [Line Items]
additional lease liabilities	$ 1,100

Commitments and Contingencies - Summary of Future Minimum Commitments (Detail) - Sports Data License Agreement [Member] $ in Thousands	Jun. 30, 2023 USD ($)
Other Commitments [Line Items]
2023	$ 75,750
2024	176,963
2025	158,512
2026	161,036
2027	175,545
Thereafter	84,686
Total	$ 832,492

Commitments and Contingencies - Additional Information (Detail) £ in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 GBP (£)
Loss Contingencies [Line Items]
Restricted cash	$ 25.3		$ 25.3		£ 20.0
Barclays Bank Plc [Member] \| Letter of Credit [Member]
Loss Contingencies [Line Items]
Interest expenses on bank letter of credit	$ 0.1	$ 0.2	0.3	$ 0.4
Long Term Purchase Obligation Related To Cloud Based Hosting [Member]
Loss Contingencies [Line Items]
Total purchase commitments			90.7
Long Term Purchase Obligation Related To Cloud Based Hosting [Member] \| February 2023 [Member] \| Barclays Bank Plc [Member]
Loss Contingencies [Line Items]
Total purchase commitments			$ 20.5

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Recognition of compensation cost	$ 0.1		$ 0.3	$ 0.1
General and Administrative Expense [Member] \| Minimum [Member]
Related Party Transaction [Line Items]
Recognition of compensation cost		$ 0.1
Restricted Stock [Member] \| Two Independent Directors [Member]
Related Party Transaction [Line Items]
Shares issued					67,720
Restricted Stock [Member] \| Three Independent Directors [Member]
Related Party Transaction [Line Items]
Shares issued	86,588		86,588
Carbon Group Limited [Member]
Related Party Transaction [Line Items]
Consultancy service expenses paid	$ 0.1		$ 0.1
CFL Ventures [Member]
Related Party Transaction [Line Items]
Revenues	$ 0.3		$ 0.3

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GENIUS SPORTS LIMITED

Date: September
13
, 2023

/s/ Mark Locke

Mark Locke

Chief Executive Officer