Genius Group Limited reported a significant improvement in its financial performance for the fiscal year ended December 31, 2023. The company's audited revenue increased by 27% from $18.2 million in 2022 to $23.1 million in 2023. Operating expenses saw a slight decrease from $50.5 million in 2022 to $48.3 million in 2023. Notably, the net loss before tax showed a substantial improvement, shrinking from $57.1 million in 2022 to $6.8 million in 2023. The company did not provide information on diluted earnings per share. In terms of liquidity, Genius Group ended the year with cash and cash equivalents of $0.6 million. The net cash used in operating activities amounted to $12.4 million, while $2.8 million was used in investing activities. Financing activities provided $9.9 million in cash flow. The company's key business metrics also reflected growth, with...Show More

Genius Group Limited reported a significant improvement in its financial performance for the fiscal year ended December 31, 2023. The company's audited revenue increased by 27% from $18.2 million in 2022 to $23.1 million in 2023. Operating expenses saw a slight decrease from $50.5 million in 2022 to $48.3 million in 2023. Notably, the net loss before tax showed a substantial improvement, shrinking from $57.1 million in 2022 to $6.8 million in 2023. The company did not provide information on diluted earnings per share. In terms of liquidity, Genius Group ended the year with cash and cash equivalents of $0.6 million. The net cash used in operating activities amounted to $12.4 million, while $2.8 million was used in investing activities. Financing activities provided $9.9 million in cash flow. The company's key business metrics also reflected growth, with total students and users increasing by 24% to 5,540,229, and paying students growing by 16% to 199,906. Genius Group's business development included investments in advanced technologies such as AI and virtual reality on its GeniusU platform. The company competes in the Edtech space with notable competitors like BYJU's and Coursera. Looking forward, Genius Group has outlined a three-phase strategy aimed at expanding its educational offerings for entrepreneurs, schools, and colleges, leveraging AI to establish a comprehensive curriculum.