SINGAPORE--(BUSINESS WIRE)--Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, announces its financial guidance for the financial year ending December 31, 2023.
Genius Group’s 2023 financial guidance is heavily weighted towards the second half of the year as we accelerate the integration of our acquired companies and expect growing operating leverage driven by top-line synergies from our EdTech platform and the digitization of our portfolio of products. We believe this will allow Genius Group to accelerate organic growth and provides a clear path to positive EBITDA in 2023.
2023 Financial Guidance:
- Annual revenue of $48m - $52m, a 37% increase from $35m - $38m 2022 pro forma guidance
- Number of students (and users) 5.7m - 6.0m, a 30% increase from 4.4m – 4.6m 2022 guidance
- Adjusted EBITDA of $0.5m - $1.0m
Roger Hamilton, CEO of Genius Group, commented: “We are experiencing strong demand for our entrepreneur and investor-related courses, and we are attracting world-class partners, from bestselling authors to social media influencers with large followings who see the value of integrating their in-demand content into our accredited courses. We believe the courses we deliver are counter-cyclical. In challenging economic times, more people seek out education to grow their financial literacy, entrepreneurial, and investing skills.
In 2023 we are expecting Genius Group to continue our strong growth trajectory, and we are focused on managing our costs and achieving positive EBITDA. We have a strong management team in place, our integration process of our five acquisitions in 2022 is underway, and we are looking forward to a successful 2023.”
About Genius Group
Genius Group is a world-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 in today’s market. The group has a group user base of 4.3 million users in 200 countries, ranging from ages 0 to 100.
Non-IFRS Financial Measures
The Company has not provided the most directly comparable IFRS financial measure, or a quantitative reconciliation thereto, for its expected 2023 Adjusted EBITDA because at this time we have not yet finalized all the data to be able to reconcile certain forward-looking non-IFRS financial measures to the most comparable IFRS financial measures without unreasonable efforts due to uncertainty in predicting certain items.
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 November 30, 2022, which is available in the investor relations section of the Company’s website at ir.geniusgroup.net. Investors are encouraged to read these detailed financial disclosures and reconciliations.
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.