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Genius Group | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Nov 20 08:04

Summary by Moomoo AI

Genius Group Limited, an AI-powered, Bitcoin-first education and acceleration group, announced preliminary financial results for the first half of 2024 on November 20, 2024. The company reported a significant 130% increase in pro forma revenue growth compared to the first half of 2023, with revenue rising from $9.0 million to $20.7 million. The adjusted EBITDA net loss saw a 37% reduction, decreasing from a loss of $7.3 million in the first half of 2023 to a loss of $4.6 million in the same period of 2024. These preliminary results exclude revenue and adjusted EBITDA from FatBrain AI prior to its acquisition in March 2024 and include the spun-off Entrepreneur Resorts Ltd's figures from 2023. CEO Roger Hamilton expressed optimism about the company's trajectory and upcoming detailed financial results, as...Show More
Genius Group Limited, an AI-powered, Bitcoin-first education and acceleration group, announced preliminary financial results for the first half of 2024 on November 20, 2024. The company reported a significant 130% increase in pro forma revenue growth compared to the first half of 2023, with revenue rising from $9.0 million to $20.7 million. The adjusted EBITDA net loss saw a 37% reduction, decreasing from a loss of $7.3 million in the first half of 2023 to a loss of $4.6 million in the same period of 2024. These preliminary results exclude revenue and adjusted EBITDA from FatBrain AI prior to its acquisition in March 2024 and include the spun-off Entrepreneur Resorts Ltd's figures from 2023. CEO Roger Hamilton expressed optimism about the company's trajectory and upcoming detailed financial results, as well as guidance for the full year, which will include their Bitcoin Treasury Plan. The company believes its AI education and acceleration model, including the Genius Cities platform and AI avatars, will strengthen its leadership in AI-powered training for the future of work. The financial results reflect the inclusion of the FatBrain AI transaction, which is expected to be settled amicably. Genius Group serves 5.4 million users across over 100 countries and aims to combine human talent with AI skills and solutions.

This announcement is a separate document:

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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