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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
