Genius Sports acquires Legend

Genius Sports has lifted its 2026 guidance after closing the Legend acquisition, projecting group revenue of $990 million to $1.01 billion and adjusted EBITDA of $270 million to $280 million. The company reported first-quarter revenue of $188 million, up 31% year on year, and said its adjusted EBITDA margin target for the full year had increased to 28% from a previous 23%. It also guided for about $185 million in second-quarter revenue and $45 million in adjusted EBITDA, reflecting the first full period with Legend inside the business. The numbers give the market an immediate view of how management expects the combined platform to scale after one of the year’s more important transactions in sports data, media and betting infrastructure.

Genius is trying to show that consolidation in sport can translate into higher-margin growth rather than simply more revenue. The raised guidance suggests management believes Legend can strengthen the economics of the wider platform quickly, while the business continues to lean on core demand across official data, sportsbook infrastructure, media products and advertising. There is also a wider signal here for the market. Sport’s infrastructure layer is becoming more valuable when it can connect rights, data, distribution and monetisation in one system. Genius has spent the past few years assembling that type of position, and the early post-Legend outlook suggests it sees this as the point where scale starts to convert more visibly into profitability.