Genius Group Limited Q1 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

  • Company Overview: Genius Group is a Singapore-based global AI-EdTech company listed on the NYSE American since 2022. It focuses on lifelong AI-powered learning, with a personalized education experience through its GeniusU platform.
  • Vision: Become the industry leader in AI-based education, aiming to impact 100 million students and generate $1 billion in revenue by 2030 through a dual strategy of growing its freemium user base and expanding its Genius City ecosystem worldwide.

Financial Performance Highlights

  • Pro Forma Revenue (2023): $70.4 million — a 150% YoY increase compared to 2022.
  • Targeted Revenue (2024): $105 million — a projected 50% increase from 2023 pro forma revenue.
  • Audited Revenue (2023): $23.1 million — a 27% increase compared to $18.2 million in 2022, excluding the FatBrain AI acquisition.
  • Gross Profit: $11.9 million — a 38% increase from $8.6 million in 2022.
  • Gross Margin: Improved to 51.7% in 2023, up from 47.5% in 2022.
  • Net Loss (2023): Reduced dramatically to $5.7 million from $58 million in 2022 (90% reduction).
  • Pro Forma Net Loss (2023): $0.8 million.

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Operator: Ladies and gentlemen, good morning. And welcome to the Genius Group Full Year 2023 Earnings Webcast and Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Quinn Callanan from MZ Group. Please go ahead. Quinn Callanan: Thanks, operator. And good morning, everyone. Welcome to the Genius Group full year 2023, earnings webcast and conference call. On the call today from Genius Group is Roger Hamilton, Founder and Chief Executive Officer; Adrian Reese, Chief Financial Officer, Michael Moe, Board Chairman, and Peter Ritz, Director and Former CEO of FatBrain. I'd like to remind everyone that this call may contain forward-looking statements as they are defined under the Private Securities Litigation Reform Act of 1995. These statements are subject to certain risks and uncertainties that could arise - that could cause actual results to differ materially from those expressed in the forward-looking statements. For discussion of such risks and uncertainties, please see Genius Group's most recent filings with the SEC. All forward-looking statements made today reflect our current expectations only, and we undertake no obligation to update any statement to reflect the events that occur after this call. Also, during the course of today's call, the company may be discus

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