SINGAPORE - Genius Group Limited (NYSE American: GNS), an AI-focused educational and acceleration organization, announced the introduction of its new platform, GeniusGroup.AI, aimed at expanding its Genius Cities Network and AI Education model globally. The platform is designed to provide AI training, tools, and talent to connect its network of Genius Cities, which are intended to be collaborative learning ecosystems incorporating educators, entrepreneurs, businesses, and government agencies.
GeniusGroup.AI features a suite of AI Avatars, including 'Student AI' for university students and 'Genius Team' for entrepreneurs, as well as a global marketplace for AI avatars and agents. It also offers direct access to Alan Turing AI, the company's Chief AI Officer, who assists users with the '100x Quiz' to identify paths to significant growth using AI. The platform will provide daily AI news updates from across the world and a calendar of AI events and milestones within the Genius Cities.
The company's CEO, Roger James Hamilton, highlighted the challenges of keeping pace with AI advancements and stated that GeniusGroup.AI is a starting point for the global community to access AI resources and share success stories. Genius Group has recently expanded its model to cities including Melbourne, London, Frankfurt, Stockholm, Santiago, Toronto, and Vancouver, joining existing locations such as Dubai, Abu Dhabi, Singapore, and Miami. The company aims to launch 100 Genius Cities worldwide and is reportedly ahead of schedule in this initiative.
Genius Group caters to 5.4 million users in over 100 countries, offering a digital marketplace of AI training and tools. The company emphasizes personalized, entrepreneurial AI pathways that integrate human talent with AI skills and solutions for individuals, enterprises, and governments.
This announcement contains forward-looking statements, and readers are cautioned that such statements are subject to risks and uncertainties that may cause actual results to differ materially. The company has not provided any guidance on future revenues, results of operations, or stock price projections in this press release statement.
In other recent news, Genius Group Limited has made significant progress in its operations and financial strategy. The company reported a 27% increase in revenue to $23.1 million in 2023, with a target of $105 million for 2024. The company's CEO, Roger Hamilton, acquired 500,000 ordinary shares and received approval for the purchase of up to 10 million shares, reflecting confidence in the company's trajectory.
In addition, Genius Group successfully completed Phase 1 of a $22 million contract with the government of Kazakhstan to develop a Sovereign AI. The company also secured approximately $3.8 million from the exercise of Series 2024-C warrants, managed by H.C. Wainwright & Co., to strengthen its financial position.
In a strategic move to comply with NYSE American's minimum price standards, the company announced a reverse stock split at a 1-for-10 ratio. The company also canceled its Extraordinary General Meeting after reevaluating the Proposed Share Consolidation plan.
Genius Group reshuffled its Board and Management team, appointing four new directors and an Interim CFO, and saw four directors resign due to conflicts of interest and breaches of fiduciary and statutory duties. These recent developments are part of Genius Group's strategy for international growth and expansion of its AI-powered education platform and Genius Cities model.
InvestingPro Insights
As Genius Group Limited (NYSE American: GNS) embarks on its ambitious expansion of the Genius Cities Network and AI Education model, investors should consider some key financial metrics and insights from InvestingPro.
Despite the company's innovative approach to AI education and global expansion plans, InvestingPro data reveals that Genius Group's market capitalization stands at a modest $13.4 million USD. This relatively small market cap suggests that the company is still in its growth phase, which aligns with its aggressive expansion strategy.
InvestingPro Tips highlight that analysts anticipate sales growth in the current year, which could be attributed to the launch of GeniusGroup.AI and the expansion of Genius Cities. This positive outlook is supported by the company's impressive revenue growth of 26.76% over the last twelve months as of Q4 2023, and an even more substantial quarterly revenue growth of 49.12% in Q4 2023.
However, investors should be aware that Genius Group is currently not profitable over the last twelve months, with an operating income margin of -89.45%. This aligns with another InvestingPro Tip indicating that the company is quickly burning through cash, which is not uncommon for rapidly expanding tech-focused educational companies.
The stock's performance has been challenging, with InvestingPro data showing a one-year price total return of -91.72% as of the most recent data. This significant decline is reflected in the InvestingPro Tip noting that the stock is trading near its 52-week low.
For investors considering Genius Group, it's worth noting that InvestingPro offers 16 additional tips for GNS, providing a more comprehensive analysis of the company's financial health and market position. These insights could be particularly valuable given the company's ambitious plans and the rapidly evolving AI education landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.