Genius Sports Limited · NYSE:GENI
Genius Sports — SPAC Merger (January 2021)
52 slides from Genius Sports's SPAC merger presentation, January 2021
Slide 1: Genius Sports Group Analyst Day Presentation
Genius Sports Group Analyst Day Presentation January 2021
Slide 2: Disclaimer
Disclaimer This investor presentation (this “Presentation”) is for informational purposes only to assist interested parties in making their own evaluation with respect to the proposed business combination (the “Business Combination”) between dMY Technology Group, Inc. II (“dMY”) and Maven Topco Limi
Slide 3: Disclaimer (cont'd)
Disclaimer (cont’d) This Presentation includes certain financial measures not presented in accordance with U.S. or UK GAAP including, but not limited to, Adjusted EBITDA and certain ratios and other metrics derived therefrom. These non-GAAP financial measures are not measures of financial performanc
Slide 4: Today's Agenda
Today’s Agenda 1 Transaction Summary & Timeline Niccolo de Masi, dMYII CEO 2 Overview of Genius Sports Group Mark Locke, CEO 3 Technology Overview Campbell Stephenson, CTO 4 Business Model & Creating Customer Jack Davison, CCO Value 5 Financial Overview Nick Taylor, CFO 4
Slide 5: Transaction Overview
Transaction Overview
Slide 6: Proposed transaction summary
Proposed transaction summary Illustrative sources and uses ($m)4 Sources Uses 5 Cash in trust $ 276 Cash to balance sheet $ 152 Sellers' rollover equity 1,002 Sellers' rollover equity 1,002 dMY Technology Group, Inc. II (“dMY II”), led by Niccolo de Masi and PIPE 330 Existing debt paydown6 398 Har
Slide 7: Summary Pro Forma Shares Outstanding
Summary Pro Forma Shares Outstanding Shares and $ in millions Existing DMYD common shares 27.6 Shares issued to GSG shareholders 100.2 Shares issued to PIPE investors 33.0 Upfront DMYD founder shares 6.9 Total common shares at closing 167.7 Market Capitalization at $10.00 / share $ 1,677 Balance she
Slide 8: Identifying the Right Peer Set for Genius
Identifying the Right Peer Set for Genius Info and Data Online B2B3 Online Gaming3 Analytics3 EV / 2021 Revenue 8.0 x 22.7 x 11.4 x 16.9 x 2020-2022 Revenue Growth CAGR 28 % 25 % 7% 45 % EV / 2021 Revenue – Growth Adj.1 0.29 x 0.91 x 1.80 x 0.37 x EV / 2021 EBITDA 20.1 x2 36.3 x 27.7 x NA (Based on
Slide 9: Overview of Genius Sports
Overview of Genius Sports
Slide 10: Today's Speakers
Today’s Speakers • Pioneer in the sports data industry • Joined Genius in 2019 • Launched Betgenius in 2000 and in 2015 • Previously CFO at Wagamama Group; led created Genius Sports Group (“Genius”) public bond refinancing and company sale • Has held senior finance roles in PE-backed businesses and
Slide 11: Genius – Powering the sports data ecosystem
Genius – Powering the sports data ecosystem Our Mission To be the official data, technology and commercial partner that powers the global ecosystem connecting sports, betting and media Our Business We collect official live sports data, and we provide that data and mission critical technology to spor
Slide 12: The leading exclusive content and data provider…
The leading exclusive content and data provider… Data Acquisition Data Monetization • Partner to sports leagues globally • Mission critical supplier to sportsbetting operators • Acquires exclusive, official rights to sports data from • Provides exclusive, official data to sportsbetting major leagues
Slide 13: …that sits at the heart of the sports ecosystem
…that sits at the heart of the sports ecosystem Sports – 11% of Revenue1 Data & Streaming – 74% of Revenue1 Player Live stats engagement In-play data / lines Integrity services Automated trading Competition management Player props Technology Fan engagement Streaming Media – 15% of Revenue1 Coaching
Slide 14: One of two players of scale providing full service provision
One of two players of scale providing full service provision Sportradar Stats Perform IMG ARENA # of events covered Genius’ official rights and # of sports covered technology strategy differentiate it from competitors Sport league services Only 2 companies One stop shop betting possess the scale
Slide 15: Technology and scale provide high barriers to entry and low churn
Technology and scale provide high barriers to entry and low churn Scaled and technologically focused organization ~1,500 ~450 ~7,000 650+ $110m+ Employees across Employees in technology Statisticians Long term partnerships with Invested in 6 continents and trading and agents sports and sportsbooks p
Slide 16: What is official data and why does it matter?
What is official data and why does it matter? What is official data? Official data is the feed of live sports statistics that is sanctioned by the sports for collection and distribution Why official data matters It matters to sports – it goes to the very heart of their funding It matters to spor
Slide 17: Unique rights strategy with worldwide breadth and depth of coverage
Unique rights strategy with worldwide breadth and depth of coverage Leagues / sports % of events Rights cost Genius strategy Competitive market Tier 1 6% High Selective rights acquisitions Football Tier 2 25% Long term rights Low / agreements in Tier 3 38% contra exchange for software deals and de m
Slide 18: Successful execution of official data strategy proves concept
Successful execution of official data strategy proves concept Events covered 240k 1 Acquisition of official rights 154k 142k 2 Monetization of official rights 106k 70k 38k 45k 1k 2014 2015 2016 2017 2018 2019 3Q20 18
Slide 19: Technology Overview
Technology Overview
Slide 20: Leading Proprietary Technology with Proven Excellence
Leading Proprietary Technology with Proven Excellence Genius Sports has been at the forefront of the sports betting and digital sports media technology industries for the past 20 years Genius has deep technical integrations and commercial relationships with the world’s largest sportsbook operato
Slide 21: Unique Product Ecosystem
Unique Product Ecosystem a genius sports (ESE) (em) (Gann) Player Engagement ro | t t i ij Live Stream Production Sports ‘Sporting Schedule Live Sports Data Reporters Ge )> & Results Automated Trading Risk Management Player Bets oi Scoreboard Integrations Genius Sports Live Stats Data Network Compet
Slide 22: Sector Synergies
Sector Synergies ae MEDIA Coaching Tools Be) (estan Paver & Insights Engagement Engagement t t f f Lve Stream Sporting Production Schedule Sports Live Sports Data y Reporters & Results Statistics & l ‘Automated Analysi j Trading Genius Sports Risk Live Stats Data Management Network ‘Scoreboard " Int
Slide 23: Network Effect
Network Effect Coaching Tools Fan it Player Tims) (eames) lve sveamine) (atten) (Asser R Ly fe Genius Sports Data Network Live Sports Data} & Results @ genius sports 23
Slide 24: Proven Scale: Automated Trading
Proven Scale: Automated Trading Sportsbook Integrations 10M 300K 300 In-Play Fixtures Offered Managed In-Play Games 5M 150K 150 - 00 2013 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2017 2018 2018 2018 2019 2019 2019 2020 2020 2020 24
Slide 25: Proven Scale: Ad-tech
Proven Scale: Ad-tech Monthly Impressions Monthly Impressions - Trend 2017 2018 2019 2020 25
Slide 26: Looking Forward
Looking Forward Genius Sports Publisher Network - Al Assisted Personalization = t ES) -—) GG) Ge) f ‘Sporting ‘Schedule Live Sports Data Live Stream Production Sports Reporters Computer Vision Assisted Automation & Resulis ‘Automated Genius Sports Data Trading Network Live Stats ‘Scoreboard Integrat
Slide 27: Business Models & Creating Customer Value
Business Models & Creating Customer Value
Slide 28: Sports Technology & Services – Business Model
Sports Technology & Services – Business Model Genius supplies technology and services that enable sports leagues to collect, analyze and monetize their data Genius “contra model” used in most tier 2 to 4 relationships Long term data / streaming rights deals (typically 3-5 years) secured in excha
Slide 29: Betting Technology, Content & Services – Business Model
Betting Technology, Content & Services – Business Model Genius supplies the technology, content and services Guaranteed revenues that powers global sportsbooks under long-term contracts Fixed minimum guaranteed payments, which may include escalators over the contract term Typically 3-5 year comm
Slide 30: Media Technology, Content & Services
Media Technology, Content & Services Genius provides services that enable its partners to acquire, retain and engage with their customers in a cost-effective manner Partners spend their marketing dollar with us as we outperform what they can achieve themselves Historically short-term campaign-ba
Slide 31: Deep Relationships with a Broad Spectrum of Partners
Deep Relationships with a Broad Spectrum of Partners More than 400 sports league partners, More than 100 media and advertizing customers Relationships with the majority of sportsbook including global and regional leagues worldwide, including gaming operators, operators globally, comprising 300 custo
Slide 32: Case Study: Sky Betting & Gaming (Flutter)
Case Study: Sky Betting & Gaming (Flutter) Product Area: Betting Technology, Content and Services Proven track record: Sky Betting & Gaming (Flutter) The Challenge Number of Events Sky Bet is one of the U.K.’s largest online sportsbooks. In order to grow market share Sky Bet needed to be able to dif
Slide 33: Case Study: SBTech (DraftKings B2B)
Case Study: SBTech (DraftKings B2B) Product Area: Betting Technology, Content and Services Proven track record: SBTech (DraftKings B2B) The Challenge Prior to its merger into the DraftKings business, SBTech was a standalone supplier of turnkey sports betting and iGaming platform services. In order t
Slide 34: Case Study: Football DataCo
Case Study: Football DataCo Product Area: Sports Technology and Services Proven track record: English Premier League The Challenge Football DataCo is responsible for maximizing the value of live data from UK football including the English Premier League (EPL), English Football Championship and Scott
Slide 35: Case Study: NCAA
Case Study: NCAA Product Area: Sports Technology and Services Proven track record: NCAA The Challenge The NCAA wanted to centralize how its 1,100 member Schools and Conferences captured, managed and distributed live data and statistics. Other solutions in use across collegiate sport had grown dated
Slide 36: Case Study: Vancouver Canucks
Case Study: Vancouver Canucks Product Area: Media Technology, Content and Services Proven track record: Vancouver Canucks The Challenge The Vancouver Canucks are an NHL team that plays their home games at Rogers Arena, which has an official capacity of 18,910. Wanting to boost 875% revenue from tick
Slide 37: Financial Overview
Financial Overview
Slide 38: Uniquely positioned in a fast-growing market
Uniquely positioned in a fast-growing market Global sportsbetting market, 2020F – 2025F (GGR in $bn) $2 $ 59 The sportsbetting $5 market is 12% $ 12 experiencing fast CAGR worldwide growth $8 13% $ 26 $ 31 CAGR Genius’ unique $6 11% $3 CAGR positioning means 31% that it is not reliant $ 14 CAGR
Slide 39: Well positioned to capture the US market
Well positioned to capture the US market Out of a possible 20 states, Genius is live in 11, has submitted applications for 2, and has begun the pre-application process for the remaining 7 1 2 3 4 Strong partnerships with Business model perfect for Revenue share model and B2B Proactive US state high
Slide 40: Multiple levers for growth
Multiple levers for growth Increase number of Increase Increase number Increase share official rights liberalization of partners of wallet 2020F rev. Opportunity Potential • Newly regulated sportsbetting markets • US, LATAM and Asia • Data and odds market under-monetized • Online casino providers @
Slide 41: Significant progress made on key drivers of growth since Oct '20
Significant progress made on key drivers of growth since Oct ‘20 Expanding data and technology services to customers Media and adtech contract wins Streaming integrations Accelerating official rights strategy Executing tuck-in Provides highest quality sports data available, enabling Genius to M&A en
Slide 42: Business model set up for growth
Business model set up for growth Genius provides a broad portfolio of events to sportsbooks under a mix of contractually guaranteed revenue and growth upside Guaranteed revenues from sportsbooks • Fixed minimum guaranteed payments, which may include escalators over the contract term • Typically 3-5
Slide 43: Strong, consistent growth in the past 5 years…
Strong, consistent growth in the past 5 years… Group Revenue +~250% Revenue Breakdown2 Note: Reflects performance despite sporting events cancelled $ 145 due to COVID-19 $ 115 ~40% Recurring 3 Other ~60% $ 88 $ 68 $ 42 Top 10 ~30% customers Other ~70% 2016 2017 2018 1 2019 2020F Note: The following
Slide 44: … with a clear path to forward growth and profitability
… with a clear path to forward growth and profitability Group Revenue $238m CAGR +28% $190m $145m ~60% of revenue $115m from contractual $88m minimum guarantees 2018 1 2019 2020F 2021F 2022F Group Adjusted EBITDA2,3 29% $ 68m 18% Path to n.m. n.m. 10% $ 35m 40% Adj. EBITDA margin at scale $ 14m $ 0m
Slide 45: Good visibility into future revenue growth
Good visibility into future revenue growth 2020F – 2022F Revenue Bridge ($m) A Genius’ participation in the growth of new and $238m existing customers driven by further liberalization of sportsbetting markets globally E B • Increased customer utilization of events under D official rights C • Contr
Slide 46: Business model leads to high operating leverage
Business model leads to high operating leverage Operating Long Term % of Revenues1 Cost description leverage Commentary Target • Data production and trading costs • Range of variable and fixed costs • Media direct costs • Expected data production, trading 28% • Hosting costs and hosting costs growth
Slide 47: Additional growth opportunities outside the plan
Additional growth opportunities outside the plan Accelerated rights • Target multiple sports that need financing or revenues via innovative investment models strategy Tech & • Acquire emerging tech companies to deepen reach into key sports content M&A • Acquire large scale, highly synergistic busine
Slide 48: Genius' long-term opportunity
Genius’ long-term opportunity $60bn GGR Revenue Adjusted EBITDA² global sports $ 1.5bn betting market Virtually all $ 1.2bn sportsbooks powered by Genius $ 0.9bn 40% market share of events powered by Genius $ 0.6bn 5% $ 0.5bn share of sportsbooks’ GGR $ 0.4bn (from Genius events) 40% long-term Adj.
Slide 49: Questions?
Questions?
Slide 50: Appendix
Appendix
Slide 51: Reconciliation to US GAAP
Reconciliation to US GAAP USD 000s (Predecessor) (Successor) 2018 2019 Jan 1 – Sep 7, 2018 Sep 8 – Dec 31, 2018 Operating profit / (15,527) (9,761) (25,288) (40,207) (loss) Plus / (less): Net, interest expense 2,363 1,744 4,107 6,840 Income tax benefit 104 (1,258) (1,154) (5,366) D&A 10,600 7,271 17
Slide 52: Investor Relations Contacts
Investor Relations Contacts Brandon Bukstel, Investor Relations Manager +1-954-554-7932 [email protected] Tristan Peniston-Bird, The One Nine Three Group for Genius Sports Group +44-7772-031-886 [email protected] Jacques Cornet, ICR, Inc. for dMY Technology Group, Inc.