Genius Group Updated 2024 Financial Guidance: $105 million to $110 million revenue with $6.0 million to $7.0 million positive EBITDA
21 Marzo 2024 - 10:00PM
Genius Group Limited (NYSE American: GNS) (“Genius Group” or
the “Company”), a leading AI-powered education group, announces
updated financial guidance for the financial year ending December
31, 2024.
The updated guidance is over 100% higher than
previously issued guidance as a result of the Company’s expansion
in operations following a series of recent transactions. The
Company also has an accelerated go-to-market strategy based on its
Genius City Model, which enables the Company to grow its AI
education courses and acceleration offerings city-by-city, via four
revenue streams: students, entrepreneurs, enterprises and
government.
2024 Updated Financial
Guidance:
- Annual pro forma 2024 revenue of
$105 million - $110 million, an 83% increase from the previous 2024
revenue guidance of $58 million - $60 million guidance.
- Pro forma 2024 Adjusted EBITDA of
$6.0 million - $7.0 million, a 133% increase from the previous 2024
Adjusted EBITDA guidance of $2.5 million - $3.0 million.
- Number of students (and users) of
11.5 million to 12 million.
Roger Hamilton, CEO of Genius Group, commented:
“Our updated guidance for 2024 represents a significant increase
compared to the guidance we released in January 2024.”
The Company believes this is a strong indicator
of the demand for AI-powered education and enablement that prepares
students and users for the future world of work and
entrepreneurship in the Age of AI. We are looking forward to an
exciting year ahead and we believe that in addition to focusing on
our annual performance goals, we will continue to lay the
foundation for the decade ahead and the economy of tomorrow.”
About Genius Group
Genius Group is a world leading AI Education
Marketplace, with a mission to disrupt the current education model
with a student-centered, life-long learning ecosystem that prepares
governments, businesses, entrepreneurs and students with the
leadership, entrepreneurial and life skills to build the
exponential economies of the future. The group has a group user
base of 5.4 million users in 200 countries, ranging from early age
to 100.
Non-IFRS Financial Measures
The Company has included certain non-IFRS
financial measures in this news release including Adjusted EBITDA
because it is a key measure used by our management and board of
directors to understand and evaluate our core operating performance
and trends, to prepare and approve our annual budget and to develop
short- and long-term operational plans. In particular, the
exclusion of certain expenses in calculating Adjusted EBITDA can
provide a useful measure for period-to-period comparisons of our
core business. Non-IFRS financial measures are not a substitute for
IFRS financial measures.
We calculate Adjusted EBITDA as Net lprofit for
the period plus income taxes plus/ minus net finance result plus
depreciation and amortization plus/minus share-based compensation
expenses plus bad debt provision. Share-based compensation expenses
and bad debt provision are included in General and administrative
expenses in the Consolidated Statements of Operations. Measuring
adjusted EBITDA is intended to provide additional information to
investors and should not be considered in isolation or as a
substitute for measures of performance prepared in accordance with
IFRS.
Reconciliations of non-IFRS measures, such as
Adjusted EBITDA, to the most comparable IFRS measures and
management’s reasoning for using them are included in the Company’s
earnings press release dated September 29, 2023, which is available
on the investor relations section of the Company’s website at
ir.geniusgroup.net. Investors are encouraged to read these detailed
financial disclosures and reconciliations.
Forward-Looking
Statements
This press release contains certain
forward-looking statements within the meaning of the U.S. federal
securities laws, including (without limitation) statements
regarding our or our management’s expectations, hopes, beliefs,
intentions or strategies regarding the future and other statements
that are other than statements of historical fact. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements.
Forward-looking statements are generally identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result”
and similar expressions, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements are predictions, projections and other statements about
future events that are based on current expectations and
assumptions and, as a result, are subject to risks and
uncertainties.
Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: the Company’s goals and
strategies; the Company’s future business development; changes in
demand for online learning; changes in technology; fluctuations in
economic conditions; the growth of the online learning industry the
United States and the other markets the Company serves or plans to
serve; reputation and brand; the impact of competition and pricing;
government regulations; and assumptions underlying or related to
any of the foregoing and other risks contained in reports filed by
the Company with the Securities and Exchange Commission (the
“SEC”). For these reasons, among others, investors are cautioned
not to place undue reliance upon any forward-looking statements in
this press release. Additional factors are discussed in the
Company’s filings with the SEC, which are available for review at
www.sec.gov. The Company undertakes no obligation to publicly
update these forward-looking statements to reflect events or
circumstances that arise after the date hereof.
ContactsDave GentryRedChip Companies
Inc1-800-RED-CHIPGNS@redchip.com
Grafico Azioni Genius (AMEX:GNS)
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Grafico Azioni Genius (AMEX:GNS)
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