Genius Group Updated 2024 Financial Guidance: $105 million to $110 million revenue with $6.0 million to $7.0 million positive EBITDA
- Genius Group's 2024 revenue guidance is now $105 million - $110 million, an 83% increase from the previous guidance.
- Adjusted EBITDA for 2024 is projected to be $6.0 million - $7.0 million, a 133% increase from earlier estimates.
- The number of students and users is expected to reach 11.5 million to 12 million.
- CEO Roger Hamilton highlights the strong demand for AI-powered education and the Company's focus on preparing students for the future workforce and entrepreneurship in the Age of AI.
- None.
Insights
The substantial upward revision in financial guidance by Genius Group Limited is a notable development that merits a closer examination of the underlying factors contributing to this optimistic outlook. A projected annual revenue increase of 83% and an Adjusted EBITDA increase of 133% suggest that the company's recent transactions and expansion strategy are yielding significant results. The Genius City Model, which focuses on scaling AI education offerings to various stakeholders, appears to be a key driver in this growth trajectory.
From a financial perspective, the surge in guidance figures may lead to a positive reevaluation of the company's stock by the market. Investors typically respond favorably to upward revisions in guidance, which can serve as a catalyst for stock price appreciation. However, it is essential to scrutinize the sustainability of this growth, particularly in the context of the education sector's competitive landscape and potential market saturation. Additionally, the actual conversion of increased guidance into realized revenue and EBITDA will be critical to watch in the upcoming fiscal reports.
The emphasis on AI-powered education and the Genius City Model underscores a strategic pivot towards personalized and scalable learning solutions. The reported increase in student and user numbers to between 11.5 and 12 million is indicative of a strong market demand for such educational technology services. It is essential to analyze the broader market trends driving this demand, including the growing necessity for AI literacy and the integration of technology in educational curricula.
When assessing the potential long-term viability of Genius Group's strategy, one must consider the evolving nature of the global education market. Factors such as technological advancements, regulatory changes and competitive dynamics play a important role in shaping the industry. The company's focus on not just students but also entrepreneurs, enterprises and government indicates a diversified approach that could mitigate risks associated with reliance on a single customer segment.
The AI education sector's growth is closely tied to broader economic trends, particularly those related to the workforce's future needs. The CEO's statement about preparing for the 'economy of tomorrow' highlights the importance of aligning educational services with anticipated shifts in labor market demands. The Genius Group's strategy to expand city-by-city aligns with economic principles of market penetration and localized growth, which can be more sustainable than broad, unfocused expansion.
Furthermore, the company's performance and its projections should be contextualized within the macroeconomic environment. Factors such as economic cycles, employment rates and public and private investment in education technology will all influence the company's ability to meet its ambitious targets. While the guidance suggests confidence, it is also necessary for investors to consider external economic risks that could affect the company's growth, such as economic downturns or shifts in educational funding.
SINGAPORE, March 21, 2024 (GLOBE NEWSWIRE) -- 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
2024 Updated Financial Guidance:
- Annual pro forma 2024 revenue of
$105 million -$110 million , an83% 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 , a133% 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.
Contacts
Dave Gentry
RedChip Companies Inc
1-800-RED-CHIP
GNS@redchip.com
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