Genius Group Limited, an education technology company listed on the NYSE American under the ticker GNS, has reported significant growth and strategic developments in its latest earnings call held on May 16, 2024. The company, which specializes in AI-powered education and acceleration, announced a pro forma revenue increase of 150% year-over-year to $70.2 million for the full year 2023. The growth is attributed to the expansion of their student base to 5.5 million across over 100 countries and the doubling down on AI and digital delivery of courses, resulting in a gross margin increase from 47% to 52%. Genius Group's CEO, Roger Hamilton, outlined the company's mission to leverage AI in education to prepare students, companies, and governments for the future of work. The...Show More

Genius Group Limited, an education technology company listed on the NYSE American under the ticker GNS, has reported significant growth and strategic developments in its latest earnings call held on May 16, 2024. The company, which specializes in AI-powered education and acceleration, announced a pro forma revenue increase of 150% year-over-year to $70.2 million for the full year 2023. The growth is attributed to the expansion of their student base to 5.5 million across over 100 countries and the doubling down on AI and digital delivery of courses, resulting in a gross margin increase from 47% to 52%. Genius Group's CEO, Roger Hamilton, outlined the company's mission to leverage AI in education to prepare students, companies, and governments for the future of work. The company's strategy includes a freemium to premium model on their GeniusU Edtech platform and the development of 'Genius Cities' - local ecosystems integrating education with AI tools and training. The company anticipates further growth with a target of $105 million in revenue for 2024 and plans to launch additional Genius Cities. CFO Adrian Reese highlighted the company's improved financials, with a net loss reduction of 90% to $5.7 million in 2023 compared to the previous year. The earnings call also included discussions on the company's market positioning, the potential of AI in the education sector, and the future outlook, with plans to reach 100 million students and generate $1 billion in annual revenue by 2030.