Genius Group Provides Updated Guidance, with Profitable 2023 on 43% to 60% Revenue Growth.
15 December 2023 - 11:00PM
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.
For more information, please visit
https://www.geniusgroup.net/
Notes to Guidance
All guidance set forth in this press release is
guidance as to our anticipated results. Our results may differ from
this guidance and will depend upon factors affecting performance
for the balance of fiscal 2023. These numbers should not be relied
upon, and our final numbers will be announced subsequent to our
2023 audit and will be reported in our Form 20-F for the fiscal
year ending December 31, 2023, which will be filed with the SEC on
or before April 30, 2024.
Investor Notice
Investing in our securities involves a high
degree of risk. Before making an investment decision, you should
carefully consider the risks, uncertainties and forward-looking
statements described in our most recent Annual Report on Form 20-F,
as amended for the fiscal year ended December 31, 2022, filed with
the SEC on June 6, 2023 and August 3, 2023. If any of these risks
were to occur, our business, financial condition or results of
operations would likely suffer. In that event, the value of our
securities could decline, and you could lose part or all of
your investment. The risks and uncertainties we describe are not
the only ones facing us. Additional risks not presently known to us
or that we currently deem immaterial may also impair our business
operations. In addition, our past financial performance may not be
a reliable indicator of future performance, and historical trends
should not be used to anticipate results in the future. See
"Forward-Looking Statements" below.
Forward-Looking Statements
Statements made in this press release include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements can be
identified by the use of words such as “may,” “will,” “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue,” or
comparable terminology. Such forward-looking statements are
inherently subject to certain risks, trends and uncertainties, many
of which the Company cannot predict with accuracy and some of which
the Company might not even anticipate and involve factors that may
cause actual results to differ materially from those projected or
suggested. Readers are cautioned not to place undue reliance on
these forward-looking statements and are advised to consider the
factors listed above together with the additional factors under the
heading “Risk Factors” in the Company's Annual Reports on Form
20-F, as may be supplemented or amended by the Company's Reports of
a Foreign Private Issuer on Form 6-K. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events, new information or
otherwise.
ContactsInvestors: Dave GentryRedChip
Companies Inc1-800-RED-CHIPGNS@redchip.com
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