Genius Group Announces 83% Edtech Revenue Growth in 2021, $28.6 Million Pro Forma Group Revenue
SINGAPORE, May 16, 2022 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (the “Company” or “Genius Group”), a world-leading Edtech and entrepreneur education group that completed its IPO on NYSE American on April 12, 2022, today announced financial results for the fiscal year ended December 31, 2021.
Results for the Pre-IPO Group include the four Pre-IPO companies: the holding company Genius Group, GeniusU, Entrepreneurs Institute, and Entrepreneur Resorts. Pro forma results for the Post-IPO Group take into account the four IPO Acquisitions: Education Angels; E-Square Education; University of Antelope Valley; and Property Investors Network. The acquisitions of Education Angels and Property Investors Network have been consummated, while the acquisitions of E-Square Education and University of Antelope Valley are in the process of closing.
Financial results should be read in conjunction with the Company’s audited consolidated financial statements and related notes in the Company’s Annual Report on Form 20-F (“Annual Report on Form 20-F”), as filed with the U.S. Securities and Exchange Commission (“SEC”). Financial results are prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the International Accounting Standards Board. Reconciliation of adjusted EBITDA to net income, the most comparable financial measure based upon IFRS, is included in the financial tables of this press release.
“Our growth strategy for Genius Group is a combination of organic growth and growth from acquisitions. In 2021, we achieved a strong growth rate from organic growth alone, as preparation for our IPO excluded any new acquisition activity,” commented Roger James Hamilton, Chairman and CEO of Genius Group. “Now, with our NYSE American IPO completed and the integration of all eight companies underway, Genius Group is operating from a position of strength as we move forward with our mission – To disrupt the current education model with a student-centered, lifelong learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today’s market.”
“The IPO acquisitions have accelerated the expansion of our education system to age groups beyond our adult audience, to children and young adults,” continued Hamilton. “By continuing to apply the capabilities of our AI, digital marketing, and customer intelligence strategies across our combined group of companies and students of all ages, we see the momentum we experienced in 2021 continuing through 2022 and beyond.”
Fiscal Year 2021 Financial Results:
The Company will host an Earnings and Investor Update call on Thursday, May 26 at 16:30 Eastern Time. The details to join:
When: May 26, 2022 16:30 Eastern Time (US and Canada)
Please click the link below to join the webinar:
About Genius Group
The entrepreneur education system of our Pre-IPO Group has been delivered virtually and in-person, in multiple languages, locally and globally, mainly via the Pre-IPO Group’s artificial intelligence (AI)-powered, personalized GeniusU Edtech platform to adults seeking to grow their entrepreneur and leadership skills.
The Pre-IPO Group includes Genius Group, GeniusU, Entrepreneurs Institute and Entrepreneur Resorts. This group of entrepreneur education companies has grown both organically and through acquisitions, with a focus on adding value to each company through GeniusU, which is being developed to provide AI-driven personal recommendations and guidance for each student. The Pre-IPO Group is now expanding its education system to age groups beyond its current adult audience, to children and young adults. The four IPO Acquisitions will be the first steps towards this expansion. They include: Education Angels, which provides early learning in New Zealand for children from 0-5 years old; E-Square, which provides primary and secondary school education in South Africa; University of Antelope Valley, which provides vocational certifications and university degrees in California, USA; and Property Investors Network, which provides property investment courses and events in England.
Genius Group’s current plan is to combine the education programs of the IPO Acquisitions with its current education programs and Edtech platform as part of one lifelong learning system, and it has selected these acquisitions because they already share aspects of the Genius curriculum and its focus on entrepreneur education.
This press release contains statements that constitute “forward-looking statements,” including with respect to the closing of the remaining two IPO Acquisitions. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.