SINGAPORE, June 06, 2023 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) ("Genius Group" or the "Company"), a leading entrepreneur edtech and education group, today announced its financial results for the full year 2022.
Full Year 2022 Financial Highlights
- Revenue growth of 119% to $18.2 million in 2022 from 2021 revenues of $ 8.3 million
- Revenues on pro-forma basis of $28.1 million in 2022
- Gross margin of 47% in 2022, compared to a gross margin of 33% in 2021
- Pro forma gross margin of 53% in 2022
- Net loss of ($55.3 million) in 2022 compared to net loss of ($4.5 million) in 2021 and pro forma net loss of ($54.9 million) in 2022, partially due to the Company's annual valuation testing of its goodwill and intangible asset fair market values,
- Adjusted EBITDA net loss of ($7.8 million) in 2022 compared to an adjusted EBITDA net loss of ($2.3 million) in 2021 and pro forma adjusted EBITDA net loss of ($7.3 million) in 2022
- Cash and equivalent as of December 31, 2022, of $5.7 million compared to $1.8 million as of December 31, 2021
- Total assets of $91.3 million as of December 31, 2022 compared to $17.6 million as of December 31, 2021
- Intangible assets of $16.1 million as of December 31, 2022 compared to $1.4 million as of December 31, 2021 as a result of the acquisitions completed this year
- Goodwill of $31.7 million as of December 31, 2022 compared to $1.3 million as of December 31, 2021 as a result of the acquisitions completed this year
- $36.5 million in derivative liabilities as of December 31, 2022 due to $12.5 million in contingent consideration and $24.0 million in options
2022 Student and Partner Growth Highlights
The Company exceeded its growth targets for students and partners:
- Students and users growth of 58%, from 2.8 million students at the end of 2021 to 4.5 million students and users at the end of 2022, representing an average daily growth of 4,452 new students and users per day
- Paying students and users growth of 137%, from 72,422 students and users at the end of 2021 to 171,919 paying students and users at the end of 2022, representing an average daily growth of 272 new paying students and users per day
- Partner growth of 29% from 11,414 at the end of 2021 to 14,760 at the end of 2022
Roger Hamilton, CEO of Genius Group, commented: "Genius Group has had a transformative year since its IPO in April 2022. We completed the acquisitions of 5 companies, grew at a significantly faster rate than the Edtech industry1, signed strategic partnerships and established an experienced leadership team to drive the growth of Genius Group and its subsidiaries. We plan to continue on this growth trajectory in 2023 as we attract new free and paying students, sign new partnerships, further integrate our past acquisitions and pursue our acquisition strategy."
2022 Strategic and Operational Highlights
- IPO of Genius Group on the NYSE American in April 2022
- Appointment of experienced leadership team and Board members including Erez Simha, Rav Karwal, Tim Murphy and Richard Berman
- Entered into a Securities Purchase Agreement for the sale of $18.1 million principal amount of Senior Secured Convertible Notes in a private placement with an institutional investor for a purchase price of $17 million
- Completed the acquisitions of Education Angels, Property Investors Network Ltd, E-Square Education Enterprises (Pty) Ltd, the University of Antelope Valley Inc and Revealed Films Inc
- Continued growth of GeniusU edtech platform with students in 200 countries
- Expanded entrepreneur education offering from entrepreneurs and investors to a lifelong learning pathway from early age to 100 years old
- Launched Entrepreneur Campus and Investor Campus, with Global Summits featuring New York Times Bestselling Authors and Social Media Thought Leaders.
Recent Strategic and Operational Highlights
- Share repurchase and share consolidation resolutions approved during the Extraordinary General Meeting held in February 2023
- Issued a $10 per share digital discount coupon to Genius Group shareholders in partnership with Upstream Exchange
- Genius Group dual listing on Upstream in April 2023
- Board and shareholder approval, pending NYSE approval for a $37 million spin-off of Entrepreneur Resorts Ltd (based on its current share price), scheduled for Q3 2023
- Launch of 2023 Prospectus featuring personalized, lifelong learning pathway in entrepreneur education
- Launch of California Business School at UAV and partnership with Swiss School of Business and Management, delivering MBA and DBA courses with access to Genius Group's Global Entrepreneur Program, featuring New York Times Bestselling Authors in leadership, marketing, technology and entrepreneurship
- Continued student and partner growth on GeniusU platform, with launch of AI-based Partner Portal and Genie AI, powered by GPT4
- Increased management focus on larger strategic acquisitions as a key growth strategy
Financial Guidance
Genius Group maintains its 2023 financial guidance as we will accelerate the integration of our acquired companies and expect growing operating leverage driven by top line synergies from our EdTech platform and the digitization of our portfolio of products. We believe this will allow Genius Group to accelerate organic growth and provide a clear path to positive EBITDA in 2023.
Webcast and Conference Call
Genius Group will host a live webcast to discuss the results Tuesday June 6 at 5:00 p.m. ET / 5:00 a.m. SGT. The webcast and supplemental information can be accessed on the investor relations section of the Genius Group website. An archive will be available after the conclusion of the live event and will remain available via the same link for 6 months.
Time: Tuesday, June 6, 2023, at 5:00 p.m. ET / 5:00 a.m. SGT
Webcast: Click on this link or go to the Investor Relations section of the Genius Group website to listen and view the slides.
Dial-in: 877-407-0712 / +1 201-493-6716
About Genius Group
Genius Group is a leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today's market. The group has a group user base of 4.5 million students and users in 200 countries, ranging from early age to 100.
For more information, please visit https://www.geniusgroup.net/.
Investor Notice
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described in our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2022, filed with the SEC on June 6, 2023. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Forward-Looking Statements" below.
Forward-Looking Statements
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "should," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Risk Factors" in the Company's Annual Reports on Form 20-F, as may be supplemented or amended by the Company's Reports of a Foreign Private Issuer on Form 6-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
GENIUS GROUP LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Expressed in US Dollars)
| For the year ended December 31, | ||||||||||
| Note | 2022 | 2021 | ||||||||
| ASSETS | ||||||||||
| Current Assets | ||||||||||
| Cash and cash equivalents | $ | 5,720,569 | $ | 1,784,938 | ||||||
| Restricted cash | 2 | 11,108,816 | - | |||||||
| Accounts receivable, net | 2 | 4,856,637 | 1,018,003 | |||||||
| Other Receivables | 5 | 120,304 | 66,000 | |||||||
| Due from related parties | 6 | 351,357 | 44,245 | |||||||
| Inventories | 7 | 1,001,977 | 92,530 | |||||||
| Prepaid expenses and other current assets | 8 | 1,090,787 | 3,490,446 | |||||||
| Total Current Assets | 24,250,447 | 6,496,162 | ||||||||
| Property and equipment, net | 9 | 563,131 | 6,776,116 | |||||||
| Operating lease right-of-use asset | 10 | 12,573,710 | 1,077,241 | |||||||
| Investments at fair value | 11 | 29,071 | 29,069 | |||||||
| Goodwill | 12 | 31,688,887 | 1,320,100 | |||||||
| Intangible assets, net | 13 | 16,107,293 | 1,394,969 | |||||||
| Other receivables | 5 | 732,716 | - | |||||||
| Due from related parties | 6 | 5,288,264 | - | |||||||
| Other non-current assets | 15 | 26,108 | 501,750 | |||||||
| Total Assets | $ | 91,259,627 | $ | 17,595,407 | ||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||
| Current Liabilities | ||||||||||
| Accounts payable | $ | 1,672,306 | $ | 1,078,381 | ||||||
| Accrued expenses and other current liabilities | 16 | 3,809,540 | 2,064,302 | |||||||
| Deferred revenue | 17 | 6,391,993 | 2,561,912 | |||||||
| Income tax payable | 2 | 355,023 | - | |||||||
| Due to related parties | 19 | 2,932,090 | 425,551 | |||||||
| Operating lease liabilities - current portion | 10 | 1,590,538 | 436,271 | |||||||
| Loans payable - current portion | 18 | 334,391 | 65,415 | |||||||
| Convertible debt obligations - current portion | 20 | 5,752,328 | 507,765 | |||||||
| Short term debt | 20 | 539,245 | - | |||||||
| Total Current Liabilities | 23,377,454 | 7,139,597 | ||||||||
| Due to related parties | 19 | 1,729 | - | |||||||
| Operating lease liabilities - non-current portion | 10 | 11,394,337 | 894,589 | |||||||
| Loans payable - non-current portion | 18 | 428,025 | 85,858 | |||||||
| Convertible debt obligations - non-current portion | 20 | 2,223,523 | 766,245 | |||||||
| Deferred tax liability | 14 | 3,391,129 | 723,122 | |||||||
| Derivative liabilities | 21 | 36,488,594 | - | |||||||
| Total Liabilities | 77,304,791 | $ | 9,609,411 | |||||||
| Stockholders' Equity | ||||||||||
| Contributed capital | 22 | 110,534,000 | 50,924,276 | |||||||
| Subscriptions receivable | 22 | (1,900,857 | ) | (1,900,857 | ) | |||||
| Reserves | (32,933,714 | ) | (31,888,638 | ) | ||||||
| Accumulated deficit | (68,539,210 | ) | (13,493,684 | ) | ||||||
| Capital and reserves attributable to owners of Genius Group Ltd | 7,160,219 | 3,641,097 | ||||||||
| Non-controlling interest | 6,794,617 | 4,344,899 | ||||||||
| Total Stockholders' Equity | 13,954,836 | 7,985,996 | ||||||||
| Total Liabilities and Stockholders' Equity | $ | 91,259,627 | $ | 17,595,407 | ||||||
The accompanying notes are an integral part of these consolidated financial statements and are disclosed in the 20F filing.
GENIUS GROUP LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Expressed in US Dollars)
| For the year ended December 31, | ||||||||||
| Note | 2022 | 2021 As restated (1) | ||||||||
| Revenue | 23 | $ | 18,193,616 | $ | 8,294,804 | |||||
| Cost of revenue | 2 | (9,554,327 | ) | (5,537,346 | ) | |||||
| Gross profit | 8,639,289 | 2,757,458 | ||||||||
| Operating (Expenses) Income | ||||||||||
| General and administrative | 25 | (21,073,794 | ) | (7,211,204 | ) | |||||
| Depreciation and amortization | 9 | (1,182,413 | ) | (38,864 | ) | |||||
| Other operating income | 24 | 144,396 | 490,300 | |||||||
| Impairment loss | 9,12,13 | (28,246,010 | ) | - | ||||||
| (Loss) gains from foreign currency transactions | 2 | 135,625 | (166,174 | ) | ||||||
| Total operating expenses | (50,222,196 | ) | (6,925,942 | ) | ||||||
| Loss from Operations | (41,582,907 | ) | (4,168,484 | ) | ||||||
| Other Expense | ||||||||||
| Other Income | 24 | 418,437 | - | |||||||
| Revaluation adjustment of contingent liabilities | 21 | (13,838,197 | ) | - | ||||||
| Interest expense, net | 26 | (1,312,476 | ) | (449,566 | ) | |||||
| Total Other Expense | (14,732,236 | ) | (449,566 | ) | ||||||
| Loss Before Income Tax | (56,315,143 | ) | (4,618,050 | ) | ||||||
| Income Tax Benefit | 27 | 1,063,596 | 128,852 | |||||||
| Net Loss | (55,251,547 | ) | (4,489,198 | ) | ||||||
| Other comprehensive income: | ||||||||||
| Foreign currency translation | 2 | (1,045,076 | ) | 230,081 | ||||||
| Total Comprehensive Loss | $ | (56,296,623 | ) | $ | (4,259,117 | ) | ||||
| Net Loss is attributed to: | 28 | |||||||||
| Owners of Genius Group Ltd | (55,045,526 | ) | (4,315,239 | ) | ||||||
| Non-controlling interest | (206,021 | ) | (173,959 | ) | ||||||
| Net Loss | (55,251,547 | ) | (4,489,198 | ) | ||||||
| Total Comprehensive Loss is attributable to: | ||||||||||
| Owners of Genius Group Ltd | (56,090,602 | ) | (4,085,158 | ) | ||||||
| Non-controlling interest | (206,021 | ) | (173,959 | ) | ||||||
| Total Comprehensive Loss | $ | (56,296,623 | ) | $ | (4,259,117 | ) | ||||
| Net loss per share attributed to common stockholders, basic and diluted | $ | (2.44 | ) | $ | (0.28 | ) | ||||
| Weighted-average number of shares outstanding, basic, and diluted | 22,634,366 | 16,155,812 | ||||||||
| Number of shares outstanding, basic, and diluted | 27,705,227 | 16,155,812 | ||||||||
1) Restatement details in 20F filing.
The accompanying notes are an integral part of these consolidated financial statements and are disclosed in the 20F filing.
GENIUS GROUP LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in US Dollars)
| For the year Ended December 31, | ||||||||
| 2022 | 2021 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net Loss | $ | (55,251,547 | ) | $ | (4,489,198 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Stock-based compensation | 1,308,784 | 293,837 | ||||||
| Depreciation and amortization | 2,350,640 | 1,574,913 | ||||||
| Amortization of tax liability | (1,284,166 | ) | 105,650 | |||||
| (Gain) loss on foreign exchange transactions | (135,625 | ) | 166,174 | |||||
| Provision for doubtful accounts | (1,509,486 | ) | (39,108 | ) | ||||
| Impairment loss | 28,246,010 | - | ||||||
| Revaluation adjustment on contingent liabilities | 13,838,197 | - | ||||||
| Amortization of debt discount | - | 140,837 | ||||||
| Interest expense on lease liabilities | 491,336 | 131,291 | ||||||
| Changes in operating assets and liabilities | ||||||||
| Accounts receivable | 1,161,349 | (30,554 | ) | |||||
| Other receivable | (19,138 | ) | (66,000 | ) | ||||
| Prepaid expenses and other current assets | 1,489,459 | (1,927,176 | ) | |||||
| Inventory | (545,449 | ) | 20,013 | |||||
| Accounts payable | (107,372 | ) | 256,562 | |||||
| Accrued expenses and other current liabilities | 751,442 | 254,080 | ||||||
| Deferred revenue | 996,324 | 1,015,200 | ||||||
| Deferred tax liability | 220,570 | (257,953 | ) | |||||
| Income tax payable | (237,759 | ) | - | |||||
| Other non-current liabilities | - | (217,291 | ) | |||||
| Total Adjustments | 47,015,116 | 1,420,475 | ||||||
| Net cash used in operations | (8,236,431 | ) | (3,068,723 | ) | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Internally developed software | (743,995 | ) | (804,314 | ) | ||||
| Acquisitions | (8,843,458 | ) | - | |||||
| Purchase of equipment | (222,680 | ) | (77,797 | ) | ||||
| Acquisition of intangible | (279,356 | ) | - | |||||
| Net cash used in investing activities: | (10,089,489 | ) | (882,111 | ) | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Amount due to/from related party, net | (221,842 | ) | (154,345 | ) | ||||
| Proceeds from derivative liability, net | (250,000 | ) | - | |||||
| Advance received for share issuances | 953,087 | |||||||
| Proceeds from IPO, net | 17,308,453 | - | ||||||
| Proceeds from convertible debt, net of issuance costs | 4,184,964 | - | ||||||
| Proceeds from equity issuances | 2,701,215 | 3,127,442 | ||||||
| Issuance from convertible debt | (509,311 | ) | - | |||||
| Lease liabilities | (957,430 | ) | (758,522 | ) | ||||
| Proceeds from Loan | 972,593 | - | ||||||
| Repayment of Loan | (1,285,181 | ) | (71,967 | ) | ||||
| Net cash provided by financing activities | 21,943,461 | 3,095,695 | ||||||
| Increase (decrease) in cash and cash equivalents during the year | 3,617,541 | (855,139 | ) | |||||
| Foreign exchange impact on cash | 318,090 | 366,926 | ||||||
| Cash and cash equivalents, beginning of year | 1,784,938 | 2,273,151 | ||||||
| CASH AND CASH EQUIVALENTS, END OF THE YEAR | $ | 5,720,569 | $ | 1,784,938 | ||||
| Supplemental Disclosures of Cash Flow Information: | ||||||||
| Cash paid during the period for interest | $ | 847,520 | $ | 202,176 | ||||
| Non-Cash Investing and Financing Activities | ||||||||
| Fair value of shares issued in satisfaction of a liability | $ | 350,000 | $ | - | ||||
| Fair value of shares issued for the acquisition of entities | $ | 35,098,001 | $ | - | ||||
| Fair value of shares issued for conversion of convertible notes | $ | 7,829,607 | $ | 293,837 | ||||
The accompanying notes are an integral part of these consolidated financial statements and are disclosed in the 20F filing.
Pro Forma Financials
The following tables set forth summary combined pro forma financial data and audited summary consolidated financial data for the periods and as of the dates indicated. The summary combined unaudited pro forma financial data below includes the consolidated financials of all companies in the Genius Group, including the Pre-IPO Group and the Acquisitions as if they were operating as one group in the periods indicated. The pro forma financials for 2022 include the audited financial data of the Pre-IPO Group and Acquisitions from the audited financials and the unaudited financial data of the Acquisitions.
The summary income data for the years ended December 31, 2022 and 2021 and the summary balance sheet data as of December 31, 2022 and 2021 for the Group are derived from the audited consolidated financial statements included in this Annual Report. Our audited consolidated financial statements have been prepared in U.S. dollars and in accordance with IFRS, as issued by the IASB.
Genius Group is made up of nine companies (taking into account the Acquisitions) that have varying financial performance. For this reason, you should read the summary combined pro forma financial data in conjunction with our audited consolidated financial statements and related notes beginning on page F-1 of this Annual Report, and "Management's Discussion and Analysis of Financial Condition and Results of Operations" included elsewhere in this Annual Report. Our historical results do not necessarily indicate our expected results for any future periods.
| Genius Group | Group | |||||||||||
| Pro forma | Audited Financials | |||||||||||
| Year Ended | Year Ended | |||||||||||
| December 31, | December 31, | |||||||||||
| 2022 | 2022 | 2021 | ||||||||||
| (USD 000's) | (USD 000's) | (USD 000's) | ||||||||||
| Sales | 28,129 | 18,194 | 8,295 | |||||||||
| Cost of goods sold | (13,328 | ) | (9,555 | ) | (5,537 | ) | ||||||
| Gross profit | 14,801 | 8,639 | 2,757 | |||||||||
| Other Operating Income | 280 | 280 | 324 | |||||||||
| Operating Expenses | (57,013 | ) | (50,502 | ) | (7,250 | ) | ||||||
| Operating Loss | (41,932 | ) | (41,583 | ) | (4,168 | ) | ||||||
| Other income | 1,172 | 419 | 0 | |||||||||
| Other Expense | (15,207 | ) | (15,151 | ) | (450 | ) | ||||||
| Net Loss Before Tax | (55,967 | ) | (56,315 | ) | (4,618 | ) | ||||||
| Tax Benefits | 1,064 | 1,064 | 129 | |||||||||
| Net Loss After Tax | (54,903 | ) | (55,252 | ) | (4,489 | ) | ||||||
| Other Comprehensive Loss | (1,045 | ) | (1,045 | ) | 230 | |||||||
| Total Loss | (55,948 | ) | (56,297 | ) | (4,259 | ) | ||||||
| Net income per share, basic and diluted | (2.43 | ) | (2.44 | ) | (0.28 | ) | ||||||
| Weighted-average number of shares outstanding, basic and diluted | 22,634,366 | 22,634,366 | 16,155,812 | |||||||||
| Genius Group | Group | |||||||||||
| Pro forma | Audited Financials | |||||||||||
| Year Ended | Year Ended | |||||||||||
| December 31, | December 31, | |||||||||||
| 2022 | 2022 | 2021 | ||||||||||
| (USD 000's) | (USD 000's) | (USD 000's) | ||||||||||
| Summary Balance Sheet Data: | ||||||||||||
| Total current assets | 24,251 | 24,251 | 6,496 | |||||||||
| Total non-current assets | 67,009 | 67,009 | 11,099 | |||||||||
| Total Assets | 91,260 | 91,260 | 17,595 | |||||||||
| Total current liabilities | 23,378 | 23,378 | 7,140 | |||||||||
| Total non-current liabilities | 53,927 | 53,927 | 2,469 | |||||||||
| Total Liabilities | 77,305 | 77,305 | 9,609 | |||||||||
| Total Stockholders' Equity | 13,955 | 13,955 | 7,986 | |||||||||
| Total Liabilities and Shareholders' Equity | 91,260 | 91,260 | 17,595 | |||||||||
Non-IFRS Financial Measure
We have included Adjusted EBITDA in this Annual Report because it is a key measure used by our management and board of directors to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operational plans. In particular, the exclusion of certain expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core business. Non-IFRS financial measures are not a substitute for IFRS financial measures.
We calculate Adjusted EBITDA as Net loss for the period plus income taxes plus/ minus net finance result plus depreciation and amortization plus/minus share-based compensation expenses plus bad debt provision. Share-based compensation expenses and bad debt provision are included in General and administrative expenses in the Consolidated Statements of Operations.
| Genius Group | Group | |||||||||||
| Pro forma | Audited Financials | |||||||||||
| Year Ended | Year Ended | |||||||||||
| December 31, | December 31, | |||||||||||
| 2022 | 2022 | 2021 | ||||||||||
| (USD 000's) | (USD 000's) | (USD 000's) | ||||||||||
| Net Loss | (54,903 | ) | (55,252 | ) | (4,489 | ) | ||||||
| Tax Benefits | (1,064 | ) | (1,064 | ) | (129 | ) | ||||||
| Interest Expense, net | 1,325 | 1,312 | 450 | |||||||||
| Depreciation and Amortization | 2,453 | 2,351 | 1,575 | |||||||||
| Impairment | 28,246 | 28,246 | - | |||||||||
| Revaluation Adjustment of Contingent Liabilities | 13,838 | 13,838 | - | |||||||||
| Stock Based Compensation | 1,309 | 1,309 | 294 | |||||||||
| Bad Debt Provision | 1,529 | 1,509 | (39 | ) | ||||||||
| Adjusted EBITDA | (7,267 | ) | (7,750 | ) | (2,338 | ) | ||||||
Key Business Metrics
We monitor the key business metrics and Non-IFRS financial measures to help us evaluate our business and growth trends, set growth targets and budgets, and measure the effectiveness of our sales and marketing efforts. These key business metrics and Non-IFRS financial measures are presented for supplemental informational purposes only, are not a substitute for IFRS financial measures, and may differ from similarly titled metrics or measures presented by other companies. See "Management's Discussion and Analysis of Financial Condition and Results of Operations - Key Business Metrics and Non-IFRS Financial Measures" for detailed descriptions of the measures and metrics.
Education segment - Genius Group (including Acquisitions)
| Key Business Metrics - Education Segment Pro Forma Year Ended December 31, | ||||||||
| 2022 | 2021 | |||||||
| Number of students and users | 4,450,852 | 2,825,628 | ||||||
| Number of Free Students and users | 4,278,933 | 2,768,530 | ||||||
| Number of Paying Students and users | 171,919 | 72,422 | ||||||
| Number of Partners | 14,760 | 11,414 | ||||||
| Number of countries of operation | 191 | 191 | ||||||
| Marketing Spend | 1,994,331 | 1,139,928 | ||||||
| Education Revenue | 23,469,609 | 25,468,253 | ||||||
| Revenue from New Paying Students | 10,164,848 | 7,377,236 | ||||||
| New Students | 1,640,698 | 890,328 | ||||||
| New Paying Students | 19,681 | 10,425 | ||||||
| Conversion rate | 1.20 | % | 1.17 | % | ||||
| Average Acquisition Cost per New Paying Student | 101 | 109 | ||||||
| Average Annual Revenue per New Paying Student | 516 | 707 | ||||||
| Net Income (Loss) margin | (172.07 | )% | (4.56 | )% | ||||
| Adjusted EBITDA margin | (11.76 | )% | 4.10 | % | ||||
Campus segment - Entrepreneur Resorts
| Key Business Metrics - Campus Segment Pro Forma Year Ended December 31, | ||||||||
| 2022 | 2021 | |||||||
| Revenue | 4,638,122 | 3,100,750 | ||||||
| No of Locations | 6 | 6 | ||||||
| No of Seats/Rooms | 367 | 367 | ||||||
| Utilization | 33 | % | 28 | % | ||||
| Total Orders | 136,204 | 96,390 | ||||||
| Revenue Per Order | 34 | 32 | ||||||
Contacts
Investors:
Flora Hewitt, Vice President of Investor Relations and Mergers and Acquisitions
Email: investor@geniusgroup.net
Media Contacts: Adia PR
Email: gns@adiapr.co.uk
US Investors:
Dave Gentry
RedChip Companies Inc
1-800-RED-CHIP
GNS@redchip.com
1 Holon IQ Edtech growth estimated of 16.3% CAGR from 2019 to 2025
