Genius Group Ltd GNS shares are trading higher after it provided strong guidance for FY24.
The company expects annual revenue of $58 million-$60 million (vs. consensus of $33.47 million), up 110% Y/Y on continued strong growth in its AI-driven EdTech platform and portfolio of entrepreneurial education courses.
Also, the company projects an adjusted EBITDA of $2.5 million-$3.0 million and sees growth in the number of students (and users) of 9.5 million-10 million (+67%).
This follows the recently revised FY23 guidance for revenue growth of 43% to 60%.
Roger Hamilton, CEO said, “We believe 2024 is going to be an extremely important year for both technology and education, with a continued trend towards future-focused courses to prepare students, entrepreneurs and employees for a world in which AI and exponential technologies will play an increasingly important part.”
In September 2023, the company reported first-half revenue of $11.8 million, a 120.76% growth over the first half of 2022.
This month, Genius Group disclosed the closing of a $8.25 million public offering.
Price Action: GNS shares are up 7.02% at $0.3125 on the last check Monday.
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