Genius Group Updated 2024 Financial Guidance

$105 million to $110 million revenue with $6.0 million to $7.0 million positive EBITDA

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 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.