What's Going On With Edtech Company Genius Shares Today?

Genius Group Limited GNS shares are trading lower after the company updated its FY24 guidance.

The company raised the outlook for revenue to $105 million – $110 million, from $58 million – $60 million earlier.

Genius also boosts adjusted EBITDA outlook to $6.0 million – $7.0 million from $2.5 million – $3.0 million earlier.

The company expects the number of students (and users) of 11.5 million to 12 million.

The raised guidance reflects the company’s expansion in operations following a series of recent transactions. 

The company also has an accelerated go-to-market strategy based on its Genius City Model, which will enable it to boost its AI education courses and acceleration offerings via four revenue streams, students, entrepreneurs, enterprises, and government.

Roger Hamilton, CEO of Genius Group, commented: “The Company believes this is a strong indicator of the demand for AI-powered education and enablement that prepares students and users for the future world of work and entrepreneurship in the Age of AI.”

Price Action: GNS shares are down 10.9% at $0.4648 premarket on the last check Friday.

Image: Gerd Altmann from Pixabay