Genius Group Announces Preliminary First Half 2024 Financial Results: 130% Pro Forma Revenue Growth
Genius Group (NYSE American: GNS) released preliminary unaudited financial results for H1 2024, showing 130% pro forma revenue growth. The company reported H1 revenue of $13.2M compared to $11.8M in 2023, and pro forma revenue of $20.7M versus $9.0M in 2023. The adjusted EBITDA net loss improved to ($5.9M) from ($7.3M), while pro forma adjusted EBITDA loss decreased by 37% to ($4.6M). The results exclude FatBrain AI revenue prior to March transaction and 2023 figures include Entrepreneur Resorts , which was spun off. The company plans to provide detailed H1 results and guidance including their Bitcoin Treasury Plan after audit completion.
Genius Group (NYSE American: GNS) ha rilasciato i risultati finanziari preliminari non verificati per il primo semestre del 2024, mostrando una crescita dei ricavi pro forma del 130%. L'azienda ha riportato ricavi di 13,2 milioni di dollari rispetto agli 11,8 milioni del 2023, con ricavi pro forma di 20,7 milioni contro 9,0 milioni del 2023. La perdita netta di EBITDA rettificato è migliorata a ($5,9 milioni) rispetto a ($7,3 milioni), mentre la perdita di EBITDA rettificato pro forma è diminuita del 37% a ($4,6 milioni). I risultati escludono i ricavi di FatBrain AI prima della transazione di marzo e i dati del 2023 includono Entrepreneur Resorts, che è stata scorporata. L'azienda prevede di fornire risultati dettagliati del primo semestre e indicazioni, incluso il loro Piano Tesoreria Bitcoin, dopo il completamento dell'audit.
Genius Group (NYSE American: GNS) publicó resultados financieros preliminares no auditados para la primera mitad de 2024, mostrando un crecimiento de ingresos pro forma del 130%. La compañía reportó ingresos de $13.2 millones en comparación con $11.8 millones en 2023, y ingresos pro forma de $20.7 millones frente a $9.0 millones en 2023. La pérdida neta ajustada de EBITDA mejoró a ($5.9 millones) desde ($7.3 millones), mientras que la pérdida de EBITDA ajustada pro forma disminuyó en un 37% a ($4.6 millones). Los resultados excluyen los ingresos de FatBrain AI antes de la transacción de marzo y las cifras de 2023 incluyen a Entrepreneur Resorts, que se escindió. La compañía planea proporcionar resultados detallados de la primera mitad y proyecciones, incluido su Plan de Tesorería de Bitcoin, después de completar la auditoría.
지니어스 그룹 (NYSE American: GNS)는 2024년 상반기 비공식 재무 결과를 발표했으며, 프로 포르마 수익 성장률이 130%에 이르렀습니다. 회사는 2023년 1180만 달러에 비해 1320만 달러의 상반기 수익을 보고했으며, 프로 포르마 수익은 2023년 900만 달러와 비교해 2070만 달러였습니다. 조정된 EBITDA 순손실은 ($73백만)에서 ($59백만)으로 개선되었고, 프로 포르마 조정 EBITDA 손실은 37% 감소하여 ($46백만)이었습니다. 결과는 3월 거래 이전의 FatBrain AI 수익을 제외하며, 2023년 수치는 분할된 Entrepreneur Resorts를 포함합니다. 회사는 감사 완료 후 상반기 상세 결과 및 비트코인 재무 계획에 대한 지침을 제공할 계획입니다.
Genius Group (NYSE American: GNS) a publié des résultats financiers préliminaires non audités pour le premier semestre 2024, montrant une croissance des revenus pro forma de 130%. La société a rapporté des revenus de 13,2 millions de dollars par rapport à 11,8 millions de dollars en 2023, et des revenus pro forma de 20,7 millions de dollars contre 9,0 millions de dollars en 2023. La perte nette ajustée d'EBITDA s'est améliorée à ($5,9 millions) contre ($7,3 millions), tandis que la perte d'EBITDA ajusté pro forma a diminué de 37 % à ($4,6 millions). Les résultats excluent les revenus de FatBrain AI avant la transaction de mars et les chiffres de 2023 incluent Entrepreneur Resorts, qui a été scindée. La société prévoit de fournir des résultats détaillés pour le premier semestre et des orientations, y compris leur Plan de Trésorerie Bitcoin, après l'achèvement de l'audit.
Genius Group (NYSE American: GNS) hat vorläufige, nicht überprüfte Finanzzahlen für das erste Halbjahr 2024 veröffentlicht und ein pro forma Umsatzwachstum von 130% ausgewiesen. Das Unternehmen berichtete im ersten Halbjahr von Einnahmen in Höhe von 13,2 Millionen US-Dollar im Vergleich zu 11,8 Millionen US-Dollar im Jahr 2023 sowie von pro forma Einnahmen in Höhe von 20,7 Millionen US-Dollar gegenüber 9,0 Millionen US-Dollar im Jahr 2023. Der bereinigte EBITDA-Nettverlust verbesserte sich auf ($5,9 Millionen) von ($7,3 Millionen), während der pro forma bereinigte EBITDA-Verlust um 37 % auf ($4,6 Millionen) zurückging. Die Ergebnisse schließen die Einnahmen von FatBrain AI vor der Transaktion im März ein, und die Zahlen von 2023 beinhalten Entrepreneur Resorts, das abgespalten wurde. Das Unternehmen plant, nach Abschluss des Audits detaillierte Ergebnisse für das erste Halbjahr sowie eine Prognose, einschließlich ihres Bitcoin Schatzplan, bereitzustellen.
- 130% increase in pro forma revenue to $20.7M in H1 2024
- 37% reduction in pro forma adjusted EBITDA loss
- Revenue growth from $11.8M to $13.2M in H1 2024
- Continued adjusted EBITDA net loss of $5.9M in H1 2024
- Pro forma adjusted EBITDA remains negative at $4.6M
Insights
The preliminary financial results reveal mixed signals. While the 130% pro forma revenue growth to
The inclusion of FatBrain AI transaction impacts comparability, making the actual organic growth harder to assess. The company's pivot to a Bitcoin-first strategy and AI education model represents a significant strategic shift, though monetization and integration success remain to be proven. The upcoming Bitcoin Treasury Plan and detailed financial results will be important for evaluating the company's financial health and strategy execution.
The strategic combination of AI education and Bitcoin-first approach marks an innovative but risky direction. The development of AI avatars and the Genius Cities platform demonstrates technological advancement, but success will depend on practical implementation and market adoption. The edtech sector is highly competitive and while exceeding industry growth rates is positive, sustainable differentiation through AI capabilities will be important for long-term success.
SINGAPORE, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading AI-powered, Bitcoin-first education and acceleration group, today provided preliminary unaudited financial and operational results for the six months ended June 30, 2024.
“Whilst our auditors complete their review of our first half financial results of 2024 in the coming weeks, we are pleased to provide preliminary results on our revenue and adjusted EBITDA. We believe our
“We look forward to the coming month, in which we will be providing detailed first half financial results following the completion of our auditors’ review, together with guidance for the full year including our Bitcoin Treasury Plan. We believe our AI education and acceleration model, including our Genius Cities platform and latest AI avatars, provides a powerful value add layer to our Bitcoin-first strategy, and we believe in the coming year we will solidify our leadership position in delivering AI powered training and tools for the future of work.”
Preliminary Financial Highlights for the First Half of 2024
- First half revenue of
$13.2 million , compared to$11.8 million in 2023. First half revenue in 2024 excludes revenue from FatBrain AI prior to the asset purchase transaction that closed in March, and first half revenue in 2023 includes revenue from Entrepreneur Resorts Ltd, which was subsequently spun off from the Company in 2023. - First half adjusted EBITDA net loss of (
$5.9) million , compared to ($7.3) million first half adjusted EBITDA net loss in 2023, with adjusted EBITDA in 2024 excluding adjusted EBITDA from FatBrain prior to the transaction closed in March, and first half adjusted EBITDA in 2023 including adjusted EBITDA from Entrepreneur Resorts Ltd.
Preliminary Pro Forma Financial Highlights for the First Half of 2024
- First half pro forma revenue of
$20.7 million , compared to$9.0 million in first half of 2023, representing a130% increase. - First half 2024 pro forma adjusted EBITDA net loss of (
$4.6) million , compared to ($7.3) million first half pro forma adjusted EBITDA net loss of ($7.3) million in 2023, representing a37% reduction.
Financial results include the Fatbrain AI (LZGI) transaction following the signing of a settlement commitment where all parties have committed to reach an amicable settlement that includes proceeding with the LZGI transaction and effectively addressing and rectifying the various issues related to the transaction.
About Genius Group
Genius Group (NYSE: GNS) is a leading provider of AI powered, digital-first education and acceleration solutions for the future of work. Genius Group serves 5.4 million users in over 100 countries through its Genius City model and online digital marketplace of AI training, AI tools and AI talent. It provides personalized, entrepreneurial AI pathways combining human talent with AI skills and AI solutions at the individual, enterprise and government level.
For more information, please visit https://www.geniusgroup.net/
Pro Forma Financial Results
Genius Group pro forma financial results take into account the Group Companies including FatBrain AI – with the transaction completed in March 2024.
The Pro Forma Financial Results should be viewed as the current group’s financial performance, of which the audited financial results represent a subset of this group. The historical results do not necessarily indicate our expected results for any future periods.
Non-IFRS Financial Measure
We have included 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.
We calculate Adjusted EBITDA as net profit / loss for the period plus income taxes and social contribution plus / minus finance revenue /expense result plus depreciation and amortization plus impairments plus revaluation adjustment of contingent liabilities plus share-based compensation expenses plus bad debt provision.
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.
Contacts
MZ Group - MZ North America
(949) 259-4987
GNS@mzgroup.us
www.mzgroup.us
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