Genius Group Limited Q2 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Genius Group First Half 2023 Earnings Summary

  • Revenue: $11.8 million in H1 2023, up 120.7% from $5.3 million in H1 2022.
  • Education Revenue: $8.96 million, an increase of 159.5% YoY.
  • Campus Revenue: $2.83 million, up 50% YoY.
  • Gross Margin: Improved to 52.6% in H1 2023 from 42% in H1 2022.
  • Adjusted EBITDA: -$7.32 million compared to -$1.96 million in H1 2022.
  • Total Users: 5.4 million as of June 2023, up 41% annualized from December 2022.
  • Paying Students: 179,149, representing an 8% annualized growth.
  • Partners: 14,942, up 2% annualized since December 2022.
  • Spin-off: Entrepreneur Resorts to be spun off by October 2, 2023 to streamline focus on EdTech.
  • AI Initiatives:
    • Genie AI: Personalized educational AI launched in April 2023; serves as a recommendation engine and mentor.
    • Groove AI JV: 50-50 joint venture with Groove Digital to provide AI-powered SaaS tools to educators. Launch expected Q1 2024.

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Operator: Greetings, welcome to the Genius Group First Half 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the prepared presentation. [Operator Instructions]. As a reminder this conference is being recorded. At this time, I would like to hand the call over to Flora Hewitt, Vice President of Investor Relations, Mergers and Acquisitions. Thank you. You may begin. Flora Hewitt: Hi, everyone, and thank you for joining our first half 2023 earnings conference call. With me today is Roger Hamilton, Genius Group’s Chief Executive Officer; and Erez Simha, our Chief Financial Officer. Following their prepared remarks, we will open the call for questions. Our press release, including financial tables, was issued pre-market opening and is posted on our investor relations website, located at ir.geniusgroup.net, where this call is being simultaneously webcast, and where versions of our prepared remarks and supplemental slides are available. During this call, we will present both IFRS and non-IFRS financial measures. Please note that all gross percentages refer to year-over-year change, unless otherwise specified. Additionally, all statements made during this call relating to future results and events are forward-looking statements, based on current expectations. These forward-looking statements include, but are not limited to, statements regarding trends and their potential impact on our industry a

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