Genius Group Limited Dec. 15, 2023 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, today updated financial guidance for the financial year ending December 31, 2023.
Genius Group had provided updated financial guidance during its H1 earnings call on Sep 29, 2023, which guidance is being updated further as follows, based on information through December 14, 2023:
Annual revenue is expected to be $27 million to $29 million compared to 2022 revenue of $18.2 million, a 43% to 60% increase.
Net profit is expected to be adjusted to $3.0 million to $5.0 million from prior guidance of an expected ($15.4) million to ($17.0) million net loss due to adjustments of certain contingent liabilities.
Student and user growth is expected to be between 5.7 million and 6.0 million, a 27% to 33% increase from 4.5 million students and users in 2022.
Roger Hamilton, CEO of Genius Group, commented: “In 2022, we had our IPO and completed six acquisitions. In 2023, we have not completed any acquisitions with all of our revenue coming from organic growth. If we meet our earnings guidance, we would achieve the financial goals we began the year with. While we have had many external factors to contend with while building our business, our growth is a testament to the strength of our global community, focus of our leadership team and innovations of our product and partnership teams with the launch of our Genie AI and Genius Metaversity.”
“We are optimistic about our growth prospects, together with the anticipated growth of the AI-driven Edtech industry as a whole, in 2024.”
About Genius Group
Genius Group is a leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed. Through its learning platform, GeniusU, the Genius Group has a member base of 5.4 million users in 200 countries, ranging from early age to 100.
