Data and analytics specialist Genius Sports reported first quarter revenue that beat expectations, as its Second Spectrum subsidiary and sports betting powered the business. Results for the quarter also had management striking an optimistic outlook for the rest of the year, crediting the company’s unique business model that sees only minor increases in operating expenses as more U.S. states open up to gambling on sports.

“Our business model is obviously very different to a lot of the operators. When new states come online, that gives us a huge opportunity to get more spend through our media business but that also applies to our sports betting side as well,” Genius co-founder and CEO Mark Locke said on a conference call with analysts this morning.