Full Year 2023 Genius Group Ltd Earnings Call

May 16, 2024

Operator 2: Ladies and gentlemen, good morning, and welcome to the Genius Group Full Year 2023 Earnings Webcast and Conference Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star and zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Quinn Callanan from MZ Group. Please go ahead.

Operator: Ladies and gentlemen, good morning, and welcome to the Genius Group Full Year 2023 Earnings Webcast and Conference Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star and zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Quinn Callanan from MZ Group. Please go ahead.

Ladies and gentlemen, good morning, and welcome to the Genius group full year 2023 earnings webcast and conference call.

Operator: Ladies and Gentlemen, Good morning and welcome to the Genius Group Full Year 2023 Earnings Webcast and Conference Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star and zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Quinn Kelenan, from MC Group.

Speaker Change: At this time all participants are in a listen only mode.

Speaker Change: A brief question and answer session will follow the formal presentation.

Speaker Change: If anyone should require operator assistance during the conference. Please press star zero on your telephone keypad.

Speaker Change: As a reminder, this conference is being recorded.

Speaker Change: It is now my pleasure to introduce your host when gallon then.

Speaker Change: So M seek group. Please go ahead.

Quinn Callanan: Thanks, operator, and good morning, everyone. Welcome to the Genius Group Full Year 2023 Earnings Webcast and Conference Call. On the call today from Genius Group is Roger Hamilton, Founder and Chief Executive Officer, Adrian Reese, Chief Financial Officer, Michael Moe, Board Chairman, and Peter Ritz, Director and former CEO of FatBrain AI.

Speaker Change: Thanks, operator, and good morning, everyone and welcome to the Genius group full year 2023 earnings webcast and conference call on the call today from Genius group as Roger Hamilton, founder and Chief Executive Officer, Adrian <unk>, Chief Financial Officer, Michael Moe Board, Chairman, and Peter Rich director and former CEO.

Quinn Kelenan: Thanks, operator. And good morning, everyone.

Quinn Kelenan: Welcome to the Genius Group full year 2023 earnings webcast and conference call. On the call today from Genius Group is Roger Hamilton, founder and chief executive officer, Adrian Reese, chief financial officer, Michael Mo, board chairman, and Peter Ritz, director and former CEO of Fat Brain AI. I would like to remind everyone that this call may contain forward-looking statements as they are defined under the Private Securities Litigation Reform Act of 1995. These statements are subject to certain risks and uncertainties that could arise.

Quinn Kelenan: The Key to Todd's Actual Results to Differ Materially from Those Expressed in the Forward-Looking Statements. For a discussion of such risks and uncertainties, please see Genius Group's most recent filings with the SEC. All forward-looking statements made today reflect our current expectations only, and we undertake no obligation to update any statement to reflect the events that occur after this call. Also, during the course of today's call, the company may be discussing one or more non-IFRS financial measures, including but not limited to EBITDA, adjusted EBITDA, and adjusted EBITDA margin.

Speaker Change: Fat brain AI.

Speaker Change: Yeah.

Michael Moe: Hi, everybody. This is Michael.

Michael Moe: Hi, everybody. This is Michael I would like to remind everyone that this call may contain forward looking statements as they are defined under the private Securities Litigation Reform Act of 1995.

Quinn Callanan: I'd like to remind everyone that this call may contain forward-looking statements as they are defined under the Private Securities Litigation Reform Act of 1995. These statements are subject to certain risks and uncertainties that could arise that could cause actual results to differ materially from those expressed in the forward-looking statements. For a discussion of such risks and uncertainties, please see Genius Group's most recent filings with the SEC. All forward-looking statements made today reflect our current expectations only, and we undertake no obligation to update any statement to reflect the events that occur after this call. Also, during the course of today's call, the company may be discussing one or more non-IFRS financial measures, including but not limited to EBITDA, adjusted EBITDA, adjusted EBITDA margin.

Michael Moe: These statements are subject to certain risks and uncertainties that could arise.

Speaker Change: It could cause actual results to differ materially from those expressed in forward looking statements for a discussion of such risks and uncertainties. Please see jeans group's most recent filings with the SEC.

Speaker Change: All forward looking statements made today reflect our current expectations only and we undertake no obligation to update any statement to reflect events that occur after this call.

Speaker Change: Also during the course of today's call the company may be discussing one or more non I R. I.

Speaker Change: As far as.

Speaker Change: Financial measures, including but not limited to EBITDA adjusted EBITDA adjusted EBITDA margin reconciliations of these non <unk> financial measures to the most directly comparable Ifr S. Measures are included in the press release and slide presentation, we issued this.

Quinn Callanan: Reconciliations of these non-IFRS financial measures to the most directly comparable IFRS measures are included in the press release and slide presentation we issued this morning. Copies of today's press release, as well as the presentation that accompanies this conference call, are accessible on Genius Group's investor relations website. In addition, our Form 20-F for the full year ended December 31, 2023, was filed with the SEC this week and is also available on Genius Group's investor relations website. Now I'd like to turn the call over to Michael Moe, Board Chairman, for some opening remarks.

Speaker Change: Morning.

Speaker Change: Copies of today's press release as well as the presentation that accompanies this conference call are accessible on genius group's Investor Relations website.

Speaker Change: In addition, our form 20-F.

Speaker Change: For the full year ended December 31, 2023 was filed with the SEC. This week and is also available on genius group's Investor Relations website, and now I'd like to turn the call over to Michael Moe or chairman for some opening remarks.

Quinn Kelenan: Reconciliations of these non-IFRS financial measures to the most directly comparable IFRS measures are included in the press release and slide presentation we issued this morning. Copies of today's press release, as well as the presentation that accompanies this conference call, are accessible on Genius Group's Investor Relations website. In addition, our Form 20-S for the full year ended December 31, 2023, was filed with the SEC this week and is also available on Genius Group's Investor Relations website. And now I'd like to turn the call over to Michael Moe, Board Chairman, for some opening remarks.

Michael Moe: Hey, everybody. I'm very excited to join you. Very excited to join Genius Group as its chairman. What is exciting for me and why I've chosen to be involved here is I believe Genius Group is positioned to really be on the forefront of this AI revolution, which is the biggest development, the biggest disruption we've seen in the marketplace since the commercialization of the Internet 30 years ago. When you look at this AI revolution and why I think we're so positioned in such a compelling way is we really bring three key elements to the AI revolution. We are creating the battle plan. That's through OpenExO. We are training the soldiers. That's through Genius Group. We are providing the ammunition. That is through FatBrain.

Hey, everybody I'm very excited to join you and very excited to have joined genius group as its chairman.

Michael Mo: Hey everybody, I'm very excited to join you and very excited to join Genius Group as its chairman. What is exciting for me and why I've chosen to be involved here is I believe Genius Group is positioned to really be on the forefront of this AI revolution, which is the biggest development and the biggest disruption we've seen in the marketplace since the commercialization of the internet 30 years ago. When you look at this AI revolution, and why I think we're so positioned in such a compelling way is that we really bring three key elements to the AI revolution. We are creating the battle plan. That's through OpenXO.

Speaker Change: Is exciting for me and why I've chosen to be involved here is I believe genius group is positioned to really be on the forefront of this AI Revolution, which is the biggest development the biggest disruption we've seen in the marketplace.

Speaker Change: Since the commercialization of the Internet 30 years ago. When you look at this AI Revolution of why I think we're so so positions.

Speaker Change: Physicians are such a compelling way is we really bring three key elements to the AI Revolution, we are creating a battle plan. That's true open XO. We are training the soldiers that through genius group and we are providing the ammunition that is too fat brain. If you look at this market there's.

Michael Mo: We are training the soldiers. That's through Genius Group. And we are providing the ammunition. That's through Fat Brain.

Michael Moe: If you look at this market, there's $2 trillion of opportunity that's gonna be created in the next 5 years, and we believe we're really gonna be at the center of it. Mark Cuban in March said, "There's only 2 types of companies in the world, those who are great at AI and everybody else. If you don't know AI, you're going to fail." We think that we are gonna be a key player to make this all happen. With that, I'm gonna turn it over to the CEO, Roger Hamilton, to talk about our results, where we're at, and where we're going in the future. Roger.

Michael Mo: If you look at this market, there's $2 trillion of opportunity that's going to be created in the next five years, and we believe we're really going to be at the center of it. Mark Cuban and Mark Zuckerberg said there are only two types of companies in the world, those who are great at AI and everybody else. If you don't know AI, you're going to fail.

Speaker Change: Two trillion dollars of opportunity that could be created the next five years and we believe we're really going to be at the center of it Mark Cuban in March that there's only two types of companies in the world those who are great at AI and everybody else. If you don't know AI, you're going to fail. We think that we are going to be keep player to make this all happen.

Michael Mo: We think that we are going to be a key player to make this all happen. And so with that, I'm going to turn it over to the CEO, Roger Hamilton, to talk about our results, where we are, and where we're going in the future. Roger.

Speaker Change: And so with that I'm going to turn it over to the CEO Roger Hamilton to talk about our results, where we're at and where we're going in the future Roger.

Roger James Hamilton: Thank you very much, Michael, and good morning, everyone. Thank you for joining us today for our financial year 2023 financial conference call. Stephen Hawking famously said the rise of powerful AI will be either the best or the worst thing ever to happen to humanity. We are currently living through this rapid rise of powerful AI, and Genius Group's mission is to make this the best thing to happen to us. As a world leader in AI education and acceleration, we're providing the AI training and AI tools that students, companies, governments, and society are demanding. On this call, we will share with you how our premium AI education model and acquisition strategy has led to historic pro forma revenue growth of over 100% year over year.

Roger Hamilton: Thank you very much, Michael, and good morning, everyone. Thank you for joining us today for our financial year 2023 financial conference call. Stephen Hawking famously said the rise of powerful AI will be either the best or the worst thing ever to happen to humanity. We are currently living through this rapid rise of powerful AI, and Genius Group's mission is to make this the best thing to happen to us. As a world leader in AI education and acceleration, we're providing the AI training and AI tools that students, companies, governments, and society are demanding. On this call, we will share with you how our premium AI education model and acquisition strategy has led to historic pro forma revenue growth of over 100% year over year.

Roger Hamilton: Thank you very much Michael and good morning, everyone. Thank you for joining us today for our financial year 2023 financial conference call.

Roger Hamilton: Thank you very much, Michael. And good morning, everyone.

Roger Hamilton: Thank you for joining us today for our Financial Year 2023 Financial Conference Call. Stephen Hawking famously said the rise of powerful AI will be either the best or the worst thing ever to happen to humanity. So, we are currently living through this rapid rise of powerful AI, and Genius Group's mission is to make this the best thing to happen to us. So, as a world leader in AI education and acceleration, we're providing the AI training and AI tools that students, companies, governments, and society are demanding.

Speaker Change: Stephen Hawking famously said the rise of powerful AI will be either the best.

Speaker Change: The worst thing to happen to humanity.

Speaker Change: So we are currently living through this rapid rise of powerful AI and genius, whose mission is to make this the best thing to happen to us So as a world leader in AI education and acceleration, we are providing the AI training and AI tools that students companies governments and society are demanding and on.

Roger Hamilton: And on this call, we will share with you how our premium AI education model and acquisition strategy have led to historic pro forma revenue growth of over 100% year over year. And we'll also share how our AI-powered genius city education ecosystem for students, entrepreneurs, businesses, and governments, combined with our GeniusU Global EdTech Marketplace, can achieve our five-year goal of impacting 100 million students and generating over a billion dollars of annual revenue while preparing us for the exponential economies of tomorrow.

Speaker Change: This call we will share with you how our premium AI education model and acquisition strategy has led to historic pro forma revenue growth of over 100% year over year.

Roger James Hamilton: We'll also share how our local AI-powered Genius City education ecosystem for students, entrepreneurs, businesses, and governments, combining with our GeniusU global edtech marketplace, can achieve our five-year goal of impacting 100 million students and generating over $1 billion of annual revenue while preparing us for the exponential economies of tomorrow. In the last three years, we have achieved over 10 times revenue growth, and we're gonna be sharing with you how we now plan to 10 times again. Here is a snapshot of our company today. We're a Singapore-based group of companies with a global presence and have been publicly listed on NYSE American since 2022. By the numbers, our pro forma revenue grew 150% in 2023 to $70.2 million, and we're targeting a further 50% growth to $105 million of revenue in 2024.

Roger Hamilton: We'll also share how our local AI-powered Genius City education ecosystem for students, entrepreneurs, businesses, and governments, combining with our GeniusU global edtech marketplace, can achieve our five-year goal of impacting 100 million students and generating over $1 billion of annual revenue while preparing us for the exponential economies of tomorrow. In the last three years, we have achieved over 10 times revenue growth, and we're gonna be sharing with you how we now plan to 10 times again. Here is a snapshot of our company today. We're a Singapore-based group of companies with a global presence and have been publicly listed on NYSE American since 2022. By the numbers, our pro forma revenue grew 150% in 2023 to $70.2 million, and we're targeting a further 50% growth to $105 million of revenue in 2024.

Speaker Change: And we'll also share how our local AI powered genius city education ecosystem with students entrepreneurs businesses and governments.

Speaker Change: Combining without genius to global Ed Tech marketplace can achieve our five year goal of impacting 100 million students and general raising over $1 billion of annual revenue, while preparing us for the exponential economies of tomorrow.

Roger Hamilton: In the last three years, we have achieved over 10 times revenue growth, and we're going to be sharing with you how we now plan to grow by 10 times again. Here is a snapshot of our company today. We're a Singapore-based group of companies with a global presence and have been publicly listed on NYC American since 2022.

Speaker Change: In the last three years as we have achieved over 10 times revenue growth and we're going to be sharing with you. How we now plan to 10 times again.

Speaker Change: Here is a snapshot of our company today, we're simple based group of companies with a global presence and had been publicly listed on NYSE American since 2022.

Roger Hamilton: By the numbers, our pro forma revenue grew 150% in 2023 to $70.2 million, and we're targeting a further 50% growth to $105 million in revenue in 2024. Our gross margin grew from 47% to 52% as we doubled down on our AI and digital delivery of our courses, and we grew our student base 24% from 4.5 million to 5.5 million students in over 100 countries. We have assembled a world-class team to deliver a solid, dependable path to a market-leading business with strong investor returns.

Speaker Change: By the numbers are pro forma revenue grew 150% in 2023, the $72 million and we're targeting a further 50% growth to $105 million of revenue in 2024.

Roger James Hamilton: Our gross margin grew from 47% to 52% as we doubled down on our AI and digital delivery of our courses, and we grew our student base 24% from 4.5 million to 5.5 million students in over 100 countries. We have assembled a world-class team to deliver a solid, dependable path to a market-leading business with strong investor returns. As founder and CEO, I'm a lifetime education entrepreneur, launching my first startup while getting an architecture degree from University of Cambridge and then becoming the founding chairman of Green School Bali, recognized by the World Economic Forum as the Model School of the Future. For the last 20 years, I've educated entrepreneurs with a unique Entrepreneur Dynamics education model as a The New York Times best-selling author with over 1 million followers on social media.

Roger Hamilton: Our gross margin grew from 47% to 52% as we doubled down on our AI and digital delivery of our courses, and we grew our student base 24% from 4.5 million to 5.5 million students in over 100 countries. We have assembled a world-class team to deliver a solid, dependable path to a market-leading business with strong investor returns. As founder and CEO, I'm a lifetime education entrepreneur, launching my first startup while getting an architecture degree from University of Cambridge and then becoming the founding chairman of Green School Bali, recognized by the World Economic Forum as the Model School of the Future. For the last 20 years, I've educated entrepreneurs with a unique Entrepreneur Dynamics education model as a The New York Times best-selling author with over 1 million followers on social media.

Speaker Change: Our gross margin grew from 47%, 52% as we double down on our AI and digital delivery about courses and we grew our student base, 24% from four and a half million to five and a half million students and over 100 countries.

Speaker Change: We have assembled a world class team to deliver a solid dependable path to a market leading business with strong investment returns and as founder and CEO I'm a lifetime education entrepreneur launching my first thought up while getting an architecture degree from Cambridge University, and then becoming the founding chairman of the Green School in Bali recognized by the World.

Roger Hamilton: And as founder and CEO, I'm a lifetime education entrepreneur, launching my first startup while getting an architecture degree from Cambridge University and then becoming the founding chairman of the Green School in Bali, recognized by the World Economic Forum as the model school of the future. And for the last 20 years, I've educated entrepreneurs with a unique entrepreneur dynamics education model as a New York Times bestselling author with over a million followers on social media. And it's this model that now forms the basis of our genius curriculum.

Can we form as the model school of the future.

Speaker Change: And for the last 20 years I've educated entrepreneurs with a unique entrepreneurs dynamics education model as a New York times best selling author with over a million followers on social media and as this muddled and now forms the basis of our genius curriculum.

Roger James Hamilton: It's this model that now forms the basis of our Genius curriculum. Our board director, Salim Ismail, is an equally prominent thought leader whose predictions on AI have attracted millions of views and recent retweets from the likes of Elon Musk on social media. He's the founding executive director of Singularity University, co-founded by Peter Diamandis and Ray Kurzweil, on the board of the XPRIZE, and his exponential organizations model is being used by Fortune 500 companies and governments to deliver exponential growth in the age of AI. Salim's EXO model and global community of certified trainers is now being integrated into the Genius Group and gives us a world leadership position in AI education. Leading EdTech investor Michael Moe, who you have just heard from, has also joined our board recently as chairman.

Roger Hamilton: It's this model that now forms the basis of our Genius curriculum. Our board director, Salim Ismail, is an equally prominent thought leader whose predictions on AI have attracted millions of views and recent retweets from the likes of Elon Musk on social media. He's the founding executive director of Singularity University, co-founded by Peter Diamandis and Ray Kurzweil, on the board of the XPRIZE, and his exponential organizations model is being used by Fortune 500 companies and governments to deliver exponential growth in the age of AI. Salim's EXO model and global community of certified trainers is now being integrated into the Genius Group and gives us a world leadership position in AI education. Leading EdTech investor Michael Moe, who you have just heard from, has also joined our board recently as chairman.

Roger Hamilton: Our board director, Salim Ismail, is an equally prominent thought leader whose predictions on AI have attracted millions of views and recent retweets from the likes of Elon Musk on social media. He's the founding executive director of Singularity University, co-founded by Peter DeMandis and Ray Kurzweil on the board of the XPRIZE, and its exponential organizations model is being used by Fortune 500 companies and governments to deliver exponential growth in the age of AI.

Speaker Change: Our board director selling is now isn't equally prominent thought leader, whose predictions on AI have attracted millions of views and recent re tweets from the like of Elon Musk on social media.

Speaker Change: He was a founding executive director of Singularity University.

Speaker Change: Fan out by Peter demanded and very Kurzweil on the board of the X price and its exponential organizations model is being used by fortune 500 companies and governments.

Speaker Change: To deliver exponential growth in the age of AI.

Roger Hamilton: Salim's EXO model and global community of certified trainers is now being integrated into the Genius Group and gives us a world leadership position in AI education. Leading EdTech investor, Michael Mo, who you have just heard from, has also joined our board recently as chairman. He's the founder and CEO of GSB Holdings, investing in game-changing AI businesses such as X, Meta, and Palantir.

Speaker Change: <unk> EXL model and global community of certified train is now being integrated into the genius group and gives US a world leadership position in AI education.

Roger Hamilton: And GSB has several funds focused on the digital learning sector and has invested in Coursera, Chegg, Course Hero, Masterclass, and Guild Education. This makes Michael arguably America's leading early investor in EdTech companies that have gone on to reach billions of dollars or more in value. And our CFO, Adrian Rees, who you'll be hearing from shortly, also joined us on this call today and is equally familiar with billion-dollar ventures. And Morgan Stanley, for 16 years, he held senior roles, including CFO of APAC Investment Banking and International Wealth Management, and Head of Corporate FP&A, Management Reporting, Governance, and Control, and together with the rest of our board, leadership, and global team, together with our So how big is this opportunity?

Speaker Change: Leading Ed Tech Investor, Michael Moe, who you have just heard from has also joined our board recently as chairman He's a founder and CEO of GST holdings investing in game changing AI businesses, such as ex meta and planting and GSV has several funds focused on the digital learning sector and has invested in Coursera Chegg course hero.

Roger James Hamilton: He's the founder and CEO of GSV Holdings, investing in game-changing AI businesses such as X, Meta, and Palantir. GSV has several funds focused on the digital learning sector and has invested in Coursera, Chegg, Course Hero, MasterClass, and Guild Education. This makes Michael arguably America's leading early investor in EdTech companies that have gone on to reach billion dollars or more in value. Our CFO, Adrian Reese, who you'll be hearing from shortly, also joined us on this call today and is equally familiar with billion-dollar ventures. At Morgan Stanley for 16 years, he held senior roles, including CFO of APAC Investment Banking and International Wealth Management, and Head of Corporate FP&A, Management Reporting, Governance, and Control.

Roger Hamilton: He's the founder and CEO of GSV Holdings, investing in game-changing AI businesses such as X, Meta, and Palantir. GSV has several funds focused on the digital learning sector and has invested in Coursera, Chegg, Course Hero, MasterClass, and Guild Education. This makes Michael arguably America's leading early investor in EdTech companies that have gone on to reach billion dollars or more in value. Our CFO, Adrian Reese, who you'll be hearing from shortly, also joined us on this call today and is equally familiar with billion-dollar ventures. At Morgan Stanley for 16 years, he held senior roles, including CFO of APAC Investment Banking and International Wealth Management, and Head of Corporate FP&A, Management Reporting, Governance, and Control.

Speaker Change: Martha cloth and Guild education, and this makes Michael arguably America's leading early investor in Ed Tech companies that have gone on to reach $1 billion or more in balance.

Speaker Change: And our CFO Adrian <unk> will you be hearing from shortly also joined US on this call today and as equally familiar with billion dollar benches and Morgan Stanley for 16 years, he held senior roles, including CFO of APAC investment banking and international wealth management and head of corporate F. P N a management porting.

Speaker Change: <unk> governance and control.

Roger James Hamilton: All of us share the same passion for education and together with the rest of our board, leadership, and global team, together with our 15,000 partners, we share the belief that the AI education revolution represents one of the greatest opportunities for both income and impact in the world today. How big is this opportunity? The global lifelong learning market is forecast to grow to $10 trillion in size by 2030. As for AI, according to PwC, AI technology could generate $15.7 trillion in global revenue by 2030 and boost the GDP of local economies by an additional 26%. AI is already growing exponentially, and Omdia predicts that by next year, AI service revenue will increase by 600% higher than it was in 2020. As an early mover in this market, however, we have remained a newcomer to investors.

Roger Hamilton: All of us share the same passion for education and together with the rest of our board, leadership, and global team, together with our 15,000 partners, we share the belief that the AI education revolution represents one of the greatest opportunities for both income and impact in the world today. How big is this opportunity? The global lifelong learning market is forecast to grow to $10 trillion in size by 2030. As for AI, according to PwC, AI technology could generate $15.7 trillion in global revenue by 2030 and boost the GDP of local economies by an additional 26%. AI is already growing exponentially, and Omdia predicts that by next year, AI service revenue will increase by 600% higher than it was in 2020. As an early mover in this market, however, we have remained a newcomer to investors.

Speaker Change: And all of US share the same passion for education and.

Speaker Change: And together with the rest of our board leadership and global team together without 15000 partners, we share the belief that the AI education Revolution represents one of the grant I just opportunities for both income.

Speaker Change: In the world today.

Speaker Change: So how big is this opportunity the global lifelong learning market is forecast to grow to 10 trillion dollars in size by 2030, that's where AI. According to Pwc AI technology could generate 15.7 trillion dollars and global revenue by 2030 and boost the GDP of local economies by an additional <unk>.

Roger Hamilton: The global lifelong learning market is forecast to grow to $10 trillion in size by 2030. As for AI, according to PWC, AI technology could generate $15.7 trillion in global revenue by 2030 and boost the GDP of local economies by an additional 26%. AI is already growing exponentially, and Omni predicts that by next year, AI service revenue will increase by 600% higher than it was in 2020. So, as an early mover in this market, we have remained a newcomer to investors.

6%.

Speaker Change: Yeah, it's already growing exponentially and only predicts that by next year AI service revenue will increase by 600% higher than it was in 2020.

Speaker Change: So as an early mover in this market. However, we have remained a newcomer to investors as of today with 186 million and issued shares of DNS our share price reflect the price to 2020 full revenue ratio of 0.8 times, which is one eighth of the industry average of four seven times.

Roger James Hamilton: As of today, with 186 million in issued shares of GNS, our share price reflects a price to 2024 revenue ratio of 0.8 times, which is 1/8 of the industry average of 4.7 times for EdTech companies, despite a growth rate far in excess of our peers. Let's dive deeper into, first of all, the market opportunity. The future of education is lifelong learning. According to HolonIQ, today's global lifelong learning market is over $7 trillion and is forecast to grow to $10 trillion by 2030. This is our market opportunity. We believe we are one of the few EdTech companies that currently offers a curriculum that covers the full lifelong learning market from pre-K to primary, secondary, university, and adult learning.

Roger Hamilton: As of today, with 186 million in issued shares of GNS, our share price reflects a price to 2024 revenue ratio of 0.8 times, which is 1/8 of the industry average of 4.7 times for EdTech companies, despite a growth rate far in excess of our peers. Let's dive deeper into, first of all, the market opportunity. The future of education is lifelong learning. According to HolonIQ, today's global lifelong learning market is over $7 trillion and is forecast to grow to $10 trillion by 2030. This is our market opportunity. We believe we are one of the few EdTech companies that currently offers a curriculum that covers the full lifelong learning market from pre-K to primary, secondary, university, and adult learning.

Roger Hamilton: As of today, with 186 million issued shares of GNS, our share price reflects a price to 2024 revenue ratio of 0.8 times, which is $1.8 trillion, compared to the industry average of 4.7 times for edtech companies, despite a growth rate far in excess of our peers. Let's dive deeper into, first of all, the market opportunity. The future of education is lifelong learning. According to Holland IQ, today's global lifelong learning market is over $7 trillion and is forecast to grow to $10 trillion by 2030. This is our market opportunity.

Speaker Change: For Ed Tech companies, despite a growth rate far in excess of our peers.

Speaker Change: So let's dive deeper into first of all the market opportunity the future of education is lifelong learning. According to Holland IQ today's global lifelong learning market is over seven trillion dollars and is forecast to grow to 10 trillion dollars by 2030. This is a market opportunity.

Roger Hamilton: We believe we are one of the few edtech companies that currently offers a curriculum that covers the full lifelong learning market from pre-k to primary, secondary, university, and adult learning. We believe we are also the only publicly listed company that provides all learners with AI avatars to personalize pathways, preparing them for the future of work based on their passions, purpose, and talents. It's not a secret that the current education system is broken, and this belief is shared by parents, students, teachers, and companies seeking skilled talent in the age of AI. As with other sectors that have been largely centralized and government-controlled and are now being disrupted by technology and market demands, we are currently seeing an AI revolution in education.

Speaker Change: We believe we are one of the few Ed Tech companies that currently offers a curriculum that cover the full lifelong learning market from pre K to primary second injury University and I don't learning. We believe we are also the only publicly list. The company that provides all learners with AI avatars.

Roger James Hamilton: We believe we are also the only publicly listed company that provides all learners with AI avatars to personalize pathways preparing them for the future of work based on their passions, purpose, and talents. It's not a secret that the current education system is broken, and this belief is shared by parents, students, teachers, and companies seeking skilled talent in the age of AI. As with other sectors that have been largely centralized and government-controlled and are now being disrupted by technology and market demands, we are currently seeing an AI revolution in education. I don't think it's unreasonable to expect that the market leaders in this global change could capture a 10% share of this $10 trillion market. As a result, we may be seeing one or more trillion-dollar education companies emerge in the coming years.

Roger Hamilton: We believe we are also the only publicly listed company that provides all learners with AI avatars to personalize pathways preparing them for the future of work based on their passions, purpose, and talents. It's not a secret that the current education system is broken, and this belief is shared by parents, students, teachers, and companies seeking skilled talent in the age of AI. As with other sectors that have been largely centralized and government-controlled and are now being disrupted by technology and market demands, we are currently seeing an AI revolution in education. I don't think it's unreasonable to expect that the market leaders in this global change could capture a 10% share of this $10 trillion market. As a result, we may be seeing one or more trillion-dollar education companies emerge in the coming years.

Speaker Change: Personally my Parkways preparing them for the future of work based on their passion purpose and talents.

Speaker Change: And it's not a secret that the current education system is broken and this belief is shared by parents students teachers and companies seeking skilled talent in the age of AI as.

Speaker Change: As with the sectors that had been largely centralized and government control and are now being disrupted by technology and market demands.

Speaker Change: We are currently seeing in AI Revolution in education.

Roger Hamilton: I don't think it's unreasonable to expect that the market leaders in this global change could capture a 10% share of this $10 trillion market, and as a result, we may be seeing one or more trillion-dollar education companies emerge in the coming years. Such a market leader, I believe, will be AI-powered, connecting local markets with a global marketplace of AI training and AI tools, with the very best courses, teachers, and tools rising to the top through user ratings, a decentralized, personalized learning network.

Speaker Change: I don't think it's unreasonable to expect that the market leaders in this global change could capture a 10% share of the 10 trillion dollar market and as a result, we may be seeing one or more trillion dollar education companies emerge in the coming years.

Roger James Hamilton: Such a market leader, I believe, will be AI-powered, connecting local markets with a global marketplace of AI training and AI tools with the very best courses, teachers, and tools rising to the top through user ratings. A decentralized, personalized learning network. Well, this is Genius Group's model, and our ambition is to be the market leader. AI-powered education is the future of learning, and we deliver an AI-powered freemium model, giving each student a personalized, relevant, and up-to-date path via our GeniusU edtech platform. A recent Deloitte study estimated that business skills have a half-life of five years, and that technology skills have a half-life of two and a half years. With the adoption of AI increasing lifelong learning and constant upskilling, making it essential, and it is our solution that basically solves this problem.

Roger Hamilton: Such a market leader, I believe, will be AI-powered, connecting local markets with a global marketplace of AI training and AI tools with the very best courses, teachers, and tools rising to the top through user ratings. A decentralized, personalized learning network. Well, this is Genius Group's model, and our ambition is to be the market leader. AI-powered education is the future of learning, and we deliver an AI-powered freemium model, giving each student a personalized, relevant, and up-to-date path via our GeniusU edtech platform. A recent Deloitte study estimated that business skills have a half-life of five years, and that technology skills have a half-life of two and a half years. With the adoption of AI increasing lifelong learning and constant upskilling, making it essential, and it is our solution that basically solves this problem.

Speaker Change: Two market leader I believe will be AI powered connecting local markets with a global marketplace of AI training and AI tools with the very best courses features and tools writing to the top through user ratings.

Speaker Change: A decentralized personalized learning network.

Roger Hamilton: Well, this is Genius Group's model, and our ambition is to be the market leader. AI-powered education is the future of learning, and we deliver an AI-powered freemium model, giving each student a personalized, relevant, and up-to-date path via our GeniusU edtech platform. A recent Deloitte study estimated that business skills have a half-life of five years and that technology skills have a half-life of two and a half years. The adoption of AI is increasing lifelong learning and constant upskilling, making it essential.

Speaker Change: This is a genius group's model and our ambition is to be the market leader.

Speaker Change: AI powered education is the future of learning and we deliver an AI powered freemium model, giving each student at personalized relevant and up to date path via our genius you Ed Tech platform.

Speaker Change: A recent Deloitte study estimated that business skills have a half life of five years and that technology skills have a half life of two and a half years.

Speaker Change: But with the adoption of AI, increasing lifelong learning and constant upskilling, making it essential and it is our solution that basically solves this problem as we grow from a 6 million through I talked about 10 million student number this year each student follows their own Personalised PA.

Roger Hamilton: And it is our solution that basically solves this problem. As we grow from 6 million to our target of 10 million student numbers this year, each student follows their own personalized path, beginning with a free event or course registered on GeniusU, and then meeting their AI guide and avatar to personalize this journey, with a percent upgrading to paid AI courses, certifications, mentoring, and tools. Our platform then operates as an Amazon for education, connecting training and tools from 15,000 educators and product partners from around the world within our global community of lifelong learners. This freemium-to-premium model that we employ delivers the first of two multipliers that drive our growth. We call this multiplier our Genius Formula.

Roger James Hamilton: As we grow from 6 million to our target of 10 million students this year, each student follows their own personalized path, beginning with a free event or course registered on GeniusU, and then meeting their AI guide and avatar to personalize each journey, with a percent upgrading to paid AI courses, certifications, mentoring and tools. Our platform then operates as an Amazon for education, connecting training and tools from 15,000 educators and product partners from around the world within our global community of lifelong learners. This freemium to premium model that we employ delivers the first of two multipliers that drive our growth. We call this multiplier our Genius Formula.

Roger Hamilton: As we grow from 6 million to our target of 10 million students this year, each student follows their own personalized path, beginning with a free event or course registered on GeniusU, and then meeting their AI guide and avatar to personalize each journey, with a percent upgrading to paid AI courses, certifications, mentoring and tools. Our platform then operates as an Amazon for education, connecting training and tools from 15,000 educators and product partners from around the world within our global community of lifelong learners. This freemium to premium model that we employ delivers the first of two multipliers that drive our growth. We call this multiplier our Genius Formula.

Speaker Change: Beginning with a free event of course registered on genius U and then meeting their AI guide an avatar to personalize. These journey with a percent upgrading to pay today I courses certifications mentoring of tools.

Speaker Change: Our platform then appraised as an Amazon for education, connecting training and tools from 15000 educators and product partners from around the world within our global community of lifelong learners.

This freemium to premium model that we employ delivered the first of two multipliers that drive outgrowth, we called this multiply out our genius formula.

Roger James Hamilton: If we can achieve a cost of acquisition of less than $1 per student and achieve an average revenue per student of $10 per year, we will have an industry-beating 10x ROAS, or return on acquisition spend, and a profitable, sustainable engine to 100 million students and $1 billion in annual revenue. As you can see from our current metrics, we are currently achieving this formula as we grow with an average of 20.5x ROAS in the first 24 months of each student's journey with us. We believe we'll see our Genius Formula continue to improve with the use of AI to optimize our platform as we attract and engage new students.

Roger Hamilton: If we can achieve a cost of acquisition of less than $1 per student and achieve an average revenue per student of $10 per year, we will have an industry-beating 10x ROAS, or return on acquisition spend, and a profitable, sustainable engine to 100 million students and $1 billion in annual revenue. As you can see from our current metrics, we are currently achieving this formula as we grow with an average of 20.5x ROAS in the first 24 months of each student's journey with us. We believe we'll see our Genius Formula continue to improve with the use of AI to optimize our platform as we attract and engage new students.

Roger Hamilton: If we can achieve a cost of acquisition of less than a dollar per student and achieve an average revenue per student of $10 per year, we will have an industry-beating 10 times Rouse or return on acquisition spend and a profitable sustainable engine for 100 million students and a billion dollars in annual revenue. As you can see from our current metrics, we are currently achieving this formula as we grow, with an average of 20.5 times Rouse in the first 24 months of each student's journey with us.

Speaker Change: If we can achieve our cost of acquisition of less than a dollar per student and achieve an average revenue per student of $10 per year.

Speaker Change: We will have an industry, beating 10 times rouse or return on acquisition spend and a profitable sustainable engine to 100 million students and $1 billion in annual revenue as.

Speaker Change: As you can see from our current metrics. We are currently achieving this formula as we grow with an average.

Speaker Change: Of 25 times routes in the first 24 months of East chewed his journey with us.

Roger Hamilton: And we believe we'll see our genius formula continue to improve with the use of AI to optimize our platform as we attract and engage new students. Our second growth multiplier is our Genius City model, with local teams delivering a full learning ecosystem, linking schools, startups, businesses, and government to build an AI-powered exponential economy for the future of work. Smart cities are built on smart technology.

Speaker Change: And we believe we will see a genius formula continues to improve with the use of AI to optimize our platform as we attract and engage new students.

Roger James Hamilton: Our second growth multiplier is our Genius City model, with local teams delivering a full learning ecosystem linking schools, startups, businesses, and government to build an AI-powered exponential economy for the future of work. Smart cities are built on smart technology. Genius Cities are built on smart people with smart technology, with lifelong learning as their central driver. Just as the Industrial Revolution was led by cities that first wired to electricity, the AI revolution is being led by the cities first wired to intelligence. Genius Group is the first education company to be actively laying this groundwork with Singapore, Dubai, and Abu Dhabi Genius Cities now launched, and another nine cities launching in 2024.

Roger Hamilton: Our second growth multiplier is our Genius City model, with local teams delivering a full learning ecosystem linking schools, startups, businesses, and government to build an AI-powered exponential economy for the future of work. Smart cities are built on smart technology. Genius Cities are built on smart people with smart technology, with lifelong learning as their central driver. Just as the Industrial Revolution was led by cities that first wired to electricity, the AI revolution is being led by the cities first wired to intelligence. Genius Group is the first education company to be actively laying this groundwork with Singapore, Dubai, and Abu Dhabi Genius Cities now launched, and another nine cities launching in 2024.

Speaker Change: Our second growth multiplier is our genius <unk> model with local teams delivering a full learning ecosystem Lincoln schools startups businesses and government to.

Speaker Change: To build an AI powered exponential economy for the future of work.

Speaker Change: Smart cities are built on smart technology.

Roger Hamilton: Genius cities are built on smart people with smart technology, with lifelong learning as their central driver. Just as the industrial revolution was led by cities that first wired for electricity, the AI revolution is being led by the cities first wired for intelligence. i2 is the first education company to be actively laying this groundwork, with Singapore, Dubai, and Abu Dhabi Genius Cities now launched, and another nine cities launching in 2024. Each city has a target of $10 million revenue in three years, and we see our billion-dollar revenue target being achieved in two ways: 100 million students at $10 revenue per student and 100 cities at $10 million revenue per city.

Speaker Change: Genius is a built on smart people with smart technology with lifelong learning as the central driver.

Speaker Change: Just as the industrial Revolution was led by three D is that first why to electricity. The AI Revolution is being led by the city's first why two intelligence.

Speaker Change: Genius group is the first education company to be actively laying this groundwork with Singapore, Dubai and Abu Dhabi Genius cities now launched and another 19 cities launching in 2024.

Roger James Hamilton: Each city has a target of $10 million revenue in 3 years, and we see our billion-dollar revenue target being achieved in two ways: 100 million students at $10 revenue per student, and 100 cities at $10 million revenue per city. With our recent combination of Genius Group, OpenExO, led by Salim Ismail, and FatBrain AI, led by Peter Ritz, we have the full product suite to deliver on this AI revolution. Genius Group delivers this army, OpenExO the battle plan, and FatBrain AI, the ammunition. As a result, our product range covers all four segments in a Genius cycle. This is a virtuous cycle that, through AI, exponentially accelerates growth and adoption. Take Abu Dhabi and Dubai, where I'm speaking from right now, as an example.

Roger Hamilton: Each city has a target of $10 million revenue in 3 years, and we see our billion-dollar revenue target being achieved in two ways: 100 million students at $10 revenue per student, and 100 cities at $10 million revenue per city. With our recent combination of Genius Group, OpenExO, led by Salim Ismail, and FatBrain AI, led by Peter Ritz, we have the full product suite to deliver on this AI revolution. Genius Group delivers this army, OpenExO the battle plan, and FatBrain AI, the ammunition. As a result, our product range covers all four segments in a Genius cycle. This is a virtuous cycle that, through AI, exponentially accelerates growth and adoption. Take Abu Dhabi and Dubai, where I'm speaking from right now, as an example.

Speaker Change: Each city has a target of $10 million revenue in three years, and we see our billion dollar target being achieved in two ways 100, many students at $10 revenue per student.

Speaker Change: Hunter cities at $10 million revenue per city.

Roger Hamilton: With our recent combination of Genius Group, OpenEXO, led by Salim Ismail, and FatBrain AI, led by Peter Ritz, we have the full product suite to deliver on this AI revolution. Genius Group, Deliver This Army; OpenEXO, The Battle Plan; and FatBrain AI, The Ammunition.

Speaker Change: With our recent combination of genius group opening weeks old led by Slim is Mel and Pat brain AI led by Peter Rich, we had the full product suite to deliver on this AI Revolution genus group delivers asami opening XO, the battle plan and Fabry and AI.

Speaker Change: Munition.

Roger Hamilton: And as a result, our product range covers all four segments in a genius cycle. This is a virtuous cycle that, through AI, exponentially accelerates growth and adoption. So take Abu Dhabi and Dubai, where I'm speaking from right now, as an example.

Speaker Change: And as a result, our product range covers all four segments and a genius cycle. This is a virtuous cycle that through AI X.

Speaker Change: Exponentially accelerates growth and adoption.

So take Abu Dhabi, and Dubai, where I'm speaking from right now as an example, we're launching our genius city model here with AI ready workshops attended by government officials Ceos start ups and students.

Roger James Hamilton: We're launching our Genius City model here with AI-ready workshops attended by government officials, CEOs, startups, and students. All are linked to a sovereign AI city portal on GeniusU, where their data, AI avatars, AI training, and AI tools are localized to the local culture and economy. Entrepreneur accelerators and company sprints generate new use cases, and AI tutors and courses for students lead to an ongoing growth in the talent pool. The shared intelligence of what is working best, [which] aims to 10 times performance, productivity, income, and impact, is shared between sectors and the local government, as well as globally between cities. This gives Genius Cities a competitive advantage with ongoing access to the latest AI training, AI tools, and AI talent to build an exponential economy in the age of AI.

Roger Hamilton: We're launching our Genius City model here with AI-ready workshops attended by government officials, CEOs, startups, and students. All are linked to a sovereign AI city portal on GeniusU, where their data, AI avatars, AI training, and AI tools are localized to the local culture and economy. Entrepreneur accelerators and company sprints generate new use cases, and AI tutors and courses for students lead to an ongoing growth in the talent pool. The shared intelligence of what is working best, [which] aims to 10 times performance, productivity, income, and impact, is shared between sectors and the local government, as well as globally between cities. This gives Genius Cities a competitive advantage with ongoing access to the latest AI training, AI tools, and AI talent to build an exponential economy in the age of AI.

Roger Hamilton: We're launching our Genius City model here with AI-ready workshops attended by government officials, CEOs, startups, and students; all are linked to a sovereign AI city portal on GeniusU where their data, AI avatars, AI training, and AI tools are localized to the local culture and economy. Entrepreneur accelerators and company sprints generate new use cases, and AI tutors and courses for students lead to an ongoing growth in the talent pool. The shared intelligence of what is working best aims to ten times performance, productivity, income, and impact is shared between sectors and the local government, as well as globally between cities.

Speaker Change: All are linked to a software and AI city portal on genius, you with a data AI avatars AI training and AI tools are localized to the local culture and economy.

Speaker Change: Entrepreneur accelerators and company Sprint's generate new use cases, and AI tutors and courses for students lead to an ongoing growth in the talent pool. The shed intelligence of what is working best aims to 10 times performance productivity income and impact is shared between sectors and the local government as well as globally.

Speaker Change: Twin cities.

Roger Hamilton: This gives genius cities a competitive advantage with ongoing access to the latest AI training, AI tools, and AI talent to build an exponential economy in the age of AI. And so, based on our plan, 50% year-on-year growth of our two simple predictable multipliers will lead us to reach 100 million students and a billion dollars in revenue by 2030. We believe this 50% growth is achievable through a combination of organic growth and creative acquisition, as our 150% pro forma revenue growth last year demonstrates, which obviously is triple our 50% target.

Speaker Change: This gives genius cities the competitive advantage with ongoing access to the latest AI training AI tools and AI talent to build an exponential economy in the age of AI.

Roger James Hamilton: Based on our plan, 50% year-on-year growth of our two simple, predictable multipliers will lead us to reach 100 million students and $1 billion revenue by 2030. We believe this 50% growth is achievable through a combination of organic growth, and accretive acquisitions. As our 150% pro forma revenue growth last year demonstrates, which obviously is triple our 50% target, if we see faster ways to reach our goal, we will not be shy to take them. However, the key factors in our growth are ensuring that we can balance growth with sustainability, with solid controls on our financials to attract the right quality of investors as we grow. With that, I'll hand it over to our Chief Financial Officer, Adrian Reese.

Roger Hamilton: Based on our plan, 50% year-on-year growth of our two simple, predictable multipliers will lead us to reach 100 million students and $1 billion revenue by 2030. We believe this 50% growth is achievable through a combination of organic growth, and accretive acquisitions. As our 150% pro forma revenue growth last year demonstrates, which obviously is triple our 50% target, if we see faster ways to reach our goal, we will not be shy to take them. However, the key factors in our growth are ensuring that we can balance growth with sustainability, with solid controls on our financials to attract the right quality of investors as we grow. With that, I'll hand it over to our Chief Financial Officer, Adrian Reese.

And so based on our plan, 50% year on year growth about two simple predictable multipliers will lead us to reach 100 million students.

Speaker Change: And $1 billion revenue by 2030.

Speaker Change: We believe this 50% growth is achievable through a combination of organic growth and accretive acquisitions as 150% pro forma revenue growth last year demonstrates which obviously is triple our 50% target if we see foster ways to reach our goal, we will not be shy to take them.

Roger Hamilton: If we see faster ways to reach our goal, we will not be shy to take them. However, the key factors in our growth are ensuring that we can balance growth with sustainability, with solid controls on our finances, to attract the right quality of investors as we grow. And with that, I'll hand it over to our Chief Financial Officer, Adrian Rees.

Speaker Change: How were the key factors in our growth machine that we can balance growth with sustainability with solid controls on our finance chose to attract the right quality of investors as we grow and with that I'll hand, it over to our Chief Financial Officer Adrian <unk>.

Adrian Reese: Thank you, Roger, and good morning, everyone. I can reiterate Roger's comments about the company's positive results for 2023 and the exciting outlook for the group in 2024. On slide 11, we present our audited financial statements for 2023, as shown in our 20-F filing completed yesterday. This is for the group prior to the combination with FatBrain AI, which is now complete, and OpenExO, which is expected to complete later this quarter. Revenue increased 27% year over year to $23.1 million in 2023, compared to $18.2 million in 2022. This growth was driven by increasing education revenues by 37% to $18.6 million from $13.6 million in 2022. The audited results include 9 months of revenues from Entrepreneur Resorts, which was spun off at the beginning of October 2023, as previously announced.

Adrian: Thank you Roger and good morning, everyone I can radio iterate Rogers comments about the company's positive results for 2023.

Speaker Change: <unk> outlook for the group in 2020 call on.

Speaker Change: On slide 11, we present, our audited financial statements for 2023.

Speaker Change: And in all 20-F filing completed yesterday.

Speaker Change: For the group prior to the combination with that Brian.

Speaker Change: Which is now complete and connect so which is expected to complete later this quarter.

Adrian Reese: Revenue increased 27% year-over-year to $23.1 million in 2023, compared to $18.2 million in 2022. This growth was driven by increasing education revenues by 37% to $18.6 million from $13.6 million in 2022. The audited results include nine months of revenues from entrepreneurial results, which was spun off at the beginning of October 2023, as previously announced. The Genius Group revenue growth in 2023 reflects the robust and growing number of students on our platform. The overall number of students increased 24% in 2023 to 5.5 million students. Additionally, the number of paying students increased 15% in 2023.

Speaker Change: Revenue increased 27% year over year to $23 1 billion in 2023 compared to $18 2 million in 2022.

Speaker Change: This growth was driven by increasing education revenues by 37% to $18 6 million from $13 6 million in 2022.

Speaker Change: The audited results include nine months of revenues from entrepreneurial results, which was spun off at the beginning of October 2023, as previously announced the.

Adrian Reese: The Genius Group revenue growth in 2023 reflects the robust and growing number of students on our platform. The overall number of students increased 24% in 2023 to 5.5 million students. Additionally, the number of paying students increased 15% in 2023. Gross profit increased 38% to $11.9 million from $8.6 million in 2022. I would also like to highlight that gross margin expanded 420 basis points to 51.7% compared to 2022. As previously discussed, Genius Group owns most of the curriculum across the individual operating companies. Hence, we are focused on maintaining a low cost of content and delivering a high gross margin. The group's net loss reduced 90% to $5.7 million, compared to $58 million in 2022.

Speaker Change: The genius group revenue growth in 2023 reflects the robust and growing number of students on our platform. The overall number of students increased 24% in 2023 to $5 5 million students. Additionally, the number of paying students increased 15% in <unk>.

Speaker Change: 1023.

Speaker Change: Gross profit increased 38% to $11 9 million from $8 six and 2022.

Adrian Reese: Gross profit increased 38% to $11.9 million from $8.6 million in 2022, and I would also like to highlight that gross margin expanded 420 basis points to 51.7% compared to 2022. As previously discussed, Genius Group owns most of the curriculum across the individual operating customers. Hence, we are focused on maintaining a low cost of content and delivering a high growth margin. The group's net loss reduced 90% to $5.7 million compared to $58 million in 2022.

Speaker Change: And I would also like to highlight but gross margin expanded 420 basis points to 51, 7% compared to 2022.

Speaker Change: As previously discussed genius group owns most of the curriculum across the individual operating companies.

Speaker Change: We are focused on maintaining a low cost of content and delivering a high gross margin.

Speaker Change: The group's net loss reduced 19% to $5 7 million compared to 50 658 million in 2022.

Speaker Change: Yes.

Adrian Reese: On slide 12, we show our pro forma numbers, adjusting for the acquisition of FatBrain AI and for the spin-off of Entrepreneur Resorts. Genius Group achieved pro forma revenues of $70.4 million in 2023, made up of $18.6 million from our core education business and $51.8 million in revenue from FatBrain AI acquisition. Pro forma gross profit in 2023 was $17 million or 24% of total revenue, and pro forma net loss was $0.8 million. Due to the acquisition of FatBrain AI and the pending OpenExO acquisition, the company has significantly enhanced business model in 2024, leveraging the existing platform, which has serviced the business to consumer and entrepreneur with a model to support business to business and government.

Adrian Reese: On slide 12, we show our pro forma numbers, adjusting for the acquisition of Fat Brain AI and for the spin-off of entrepreneurial resorts. Genius Group achieved pro forma revenues of $70.4 million in 2023, made up of $18.6 million from our core education business and $51.8 million in revenue from Fat Brain AI acquisitions. Pro forma gross profit in 2023 was $17 million, or 24% of total revenue, and pro forma net loss was $0.8 million.

Speaker Change: On slide 12, we show our pro forma numbers adjusting for the acquisition of Clat Brian.

Speaker Change: For the spin off of the entrepreneurial results genius group achieved pro forma revenues of $70 4 million in 2023 made up of $18 6 million from our core education business I'm $51 8 million in revenue from the acquisition.

Speaker Change: Pro forma gross profit in 2023 was $17 million or 24% of total revenue and pro forma net loss was <unk> 8 million.

Speaker Change: Due to the acquisition of <unk> right.

Adrian Reese: Due to the acquisition of Fat Brain AI and the pending OpenXO acquisition, the company has significantly enhanced its business model in 2024, leveraging the existing platform which has serviced the business-to-consumer and entrepreneur with a model to support business-to-business and government. Based on the combined businesses and opportunities we see ahead, we believe 2024 pro forma revenue will be above $105 million, with revenue divided into these four customer segments. We believe much of this growth will be driven by a significant increase in students on our platform, which we anticipate will be over 10 million by the year end 2024. In 2024, we've already announced Genius City launches in three cities, Singapore, Dubai, and Abu Dhabi, and anticipate an additional seven cities to be launched in the remainder of 2024.

Speaker Change: On the Penguin connect so acquisition the company is significantly enhanced business model in 2020 full leveraging the existing platform, which is service the business to consumer and entrepreneur with a module to support business to business and government.

Adrian Reese: Based on the combined businesses and opportunities we see ahead, we believe 2024 pro forma revenue will be above $105 million, with revenue divided into these four customer segments. We believe much of this growth will be driven by significant increase in students on our platform, which we anticipate will be over 10 million by the year-end 2024. In 2024, we've already announced Genius City launches in 3 cities, Singapore, Dubai, and Abu Dhabi, and anticipate an additional 7 cities to be launched in the remainder of 2024. Additionally, we anticipate being profitable on an adjusted EBITDA basis with positive EBITDA of over +$6 million in 2024. Given the overall market opportunity and the transformation Genius Group has been undergoing in the past year, we think it's worth looking at the value and the opportunity for investors.

Based on the combined business needs and opportunities we see ahead.

Speaker Change: We believe 2020 full pro forma revenue will be above $105 million with revenue divided into these four customer segments.

Speaker Change: We believe much of this growth will be driven by significant increase in students on our platform, which we anticipate will be over 10 million by the year 2024.

Speaker Change: In 2024, we've already announced genius city launches in three cities, Singapore, Dubai, and Abu Dhabi and anticipate an additional seven cities to be launched in the remainder of 2020 full. Additionally, we anticipate being profitable on an adjusted EBITDA basis with positive EBIT Dol, although he was.

Adrian Reese: Additionally, we anticipate being profitable on an adjusted EBITDA basis, with positive EBITDA of over $6 million in 2024. Given the overall market opportunity and the transformation Genius Group has been undergoing in the past year, we think it's worth looking at the value and the opportunity for investors. This table shows publicly-listed edtech and AI service companies with their market cap as of yesterday's open price to revenue multiples and revenue growth rates.

Speaker Change: $6 million in 2024.

Speaker Change: Given the overall market opportunity and the transformation genius group has been undergoing in the past year, we think it's worth looking at the value and the opportunity for investors.

Adrian Reese: Revenue growth rates for 2024 range from negative to 49%, with an average of approximately 10%. In this respect, Genius Group exceeds all of its peers with a 50% forecast revenue growth. The price-to-revenue ratio for this group ranges from 2x for companies like Udemy and Coursera, which are growing at approximately 10%, up to 12.6x for Duolingo at a 37% growth rate. Genius Group is an outlier with a 0.8x multiple, which is a fraction of both the leading 12.6x multiple and the average 4.7x multiple our peers are achieving.

Adrian Reese: This table shows publicly listed tech and AI service companies with their market cap as of yesterday's open, price to revenue multiples, and revenue growth rates. Revenue growth rates for 2024 range from negative to 49%, with an average of approximately 10%. In this respect, Genius Group exceeds all of its peers with a 50% forecast revenue growth. The price to revenue ratio for this group ranges from 2x for companies like Udemy and Coursera, which are growing at approximately 10% up to 12.6x for Duolingo at 37% growth rate. Genius Group is an outlier with a 0.8x multiple, which is a fraction of both the leading 12.6x multiple and the average 4.7x multiple our peers are achieving.

Speaker Change: This table shows publicly listed at check in AI service companies with a market cap as of yesterday.

Speaker Change: <unk>, two <unk> revenue multiples and revenue growth rates.

Speaker Change: Revenue growth rates for 2024 range from negative to 49% with an average of approximately 10% in this respect genius group exceeds all of its peers with a 50% forecast revenue clubs.

Speaker Change: The cost to revenue ratio in this group ranges from two works for companies like <unk>, and Coursera, which are growing at approximately 10% up to 12 six X, but you didn't go at 37% close rate.

Speaker Change: Genius group as an outlier with a zero point E X multiple which is a fraction of both the lead and 12 six X multiple and the average four seven X multiple plays.

Speaker Change: Pacer, which either.

Adrian Reese: In summary, looking at our overall comparables in the industry, we believe we are a pioneer in bringing AI technologies to edtech platforms. Our revenue growth expectations are best in class. We believe that our multiple based on price to revenue has significant upside if we deliver on the expectations we have set ourselves. We believe this disconnect between our business growth and market price is both an opportunity for our long-term investors and an area of focus for our investor relations efforts going forward. With ongoing execution and communication, we are confident we will close this gap over time and earn the valuation improvement. I will hand it back to Roger for the final slide. Thank you.

Adrian Reese: In summary, looking at our overall comparables in the industry, we believe we are a pioneer in bringing AI technologies to edtech platforms. Our revenue growth expectations are best in class. We believe that our multiple, base to price to revenue, has significant upside if we deliver on the expectations we have set ourselves. We believe this disconnect between our business growth and market price is both an opportunity for our long-term investors and an area of focus for our investor-related efforts going forward. With ongoing execution and communication, we are confident we will close this gap over time and earn the valuation in print. I will hand it back to Roger for the final slide. Thank you.

Speaker Change: In summary, looking at our overall comparable in the industry. We believe we are a pioneer in bringing AI.

Speaker Change: Oh, let's use type platforms, our revenue growth expectations are expectations of best in class, We believe that all multiple face to price to revenue has significant upside if we deliver on the expect quite steep stations, we have set ourselves.

Speaker Change: We believe this disconnect between our business growth and market price is both an opportunity for our long term investors in an area of focus for all the Investor relations efforts going forward with ongoing execution and communication. We are confident we will close this gap over time and on the valuation important.

Speaker Change: I will hand, it back to Roger for the final slide Thank you.

Roger James Hamilton: Thank you, Adrian. Here is a summary slide of what we've discussed today. We believe we are in the midst of an AI revolution, and we are building the most powerful AI education and acceleration platform in the world. We have the battle plan, the army, and the ammunition, and we're deploying them now at scale. Billions of dollars are being spent globally to help educate populations on how to best utilize AI for their cities, countries, businesses, and students. AI technology is moving faster than the current educational infrastructure is able to adapt to. Our platform is online, efficient, personalized, and tailored to individual business or government needs. AI education is a multi-trillion market opportunity, and we are committed to being a leader.

Roger Hamilton: Thank you, Adrian. Here is a summary slide of what we've discussed today. We believe we are in the midst of an AI revolution, and we are building the most powerful AI education and acceleration platform in the world. We have the battle plan, the army, and the ammunition, and we're deploying them now at scale. Billions of dollars are being spent globally to help educate populations on how to best utilize AI for their cities, countries, businesses, and students. AI technology is moving faster than the current educational infrastructure is able to adapt to. Our platform is online, efficient, personalized, and tailored to individual business or government needs. AI education is a multi-trillion market opportunity, and we are committed to being a leader.

Roger Hamilton: Thank you Adrian and here is a summary slide of what we've discussed today. We believe we are in the midst of an AI Revolution and we are building the most powerful AI education and acceleration platform in the world. We have a battle plan the army and the ammunition and we're deploying them now at.

Roger Hamilton: Thank you, Adrian. And here is a summary slide of what we discussed today. We believe we are in the midst of an AI revolution, and we are building the most powerful AI education and acceleration platform in the world. We have the battle plan, the army, and the ammunition, and we're deploying them now at scale. Billions of dollars are being spent globally to help educate populations on how to best utilize AI for their cities, countries, businesses, and students.

Roger Hamilton: Scale billions.

Roger Hamilton: Billions of dollars are being spent globally to help educate populations on how to best utilize AI for their cities countries.

Roger Hamilton: AI technology is moving faster than the current educational infrastructure is able to adapt. Our platform is online, efficient, personalized, and tailored to individual, business, or government needs. AI education is a multi-trillion market opportunity, and we are committed to being a leader. We anticipate the number of students on our platform increasing approximately 100% in 2024 to over 10 million students, and we plan to 10x to 100 million by 2030. Our pro forma revenue target is currently over $105 million in 2024, which is a 50% increase from 2023 pro forma revenue of $70 million, and we plan to 10x to a billion by 2030.

Businesses and students AI technology is moving faster than the current educational infrastructure is able to adapt to.

Roger Hamilton: Our platform is online efficient personalized and tailored to individual business or government needs.

Roger Hamilton: Education is the multi trillion market opportunity and we are committed to being a leader.

Roger James Hamilton: We anticipate the number of students on our platform increasing approximately 100% in 2024 to over 10 million students, and we plan to 10x to 100 million by 2030. Our pro forma revenue target is currently for over $105 million in 2024, which is a 50% increase from 2023 pro forma revenue of $70 million. We plan to 10x to $1 billion by 2030. We want to thank you for joining our call today, and we expect to hold calls on a quarterly basis going forward. We thank you for your continued interest and support. We'll now open the line for questions.

Roger Hamilton: We anticipate the number of students on our platform increasing approximately 100% in 2024 to over 10 million students, and we plan to 10x to 100 million by 2030. Our pro forma revenue target is currently for over $105 million in 2024, which is a 50% increase from 2023 pro forma revenue of $70 million. We plan to 10x to $1 billion by 2030. We want to thank you for joining our call today, and we expect to hold calls on a quarterly basis going forward. We thank you for your continued interest and support. We'll now open the line for questions.

Roger Hamilton: We anticipate the number of students on our platform increasing approximately 110 in 2024 to over 10 million students and we plan to <unk> to 100 million by 2030, our pro forma revenue target is for is carmany for over $105 million in 2024, which is a 50% increase from 2023.

Roger Hamilton: Pro forma revenue of $70 million and we plan to <unk> 2 billion by 2030.

Roger Hamilton: We want to thank you for joining our call today, and we expect to hold calls on a quarterly basis going forward.

Roger Hamilton: We want to thank you for joining our call today, and we expect to hold calls on a quarterly basis going forward. And we thank you for your continued interest and support, and we'll now open the line for questions.

Roger Hamilton: And we thank you for your continued interest and support and we'll now open the line for questions.

Roger Hamilton: Yeah.

Operator 2: Thank you. Ladies and gentlemen, we will now be conducting a question and answer session. If you would like to ask a question, please press star and one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star and two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. Ladies and gentlemen, we will wait for a moment while we poll for questions. Our first question is from the line of Jeremy Pedrotti, an investor. Please go ahead.

Operator: Thank you. Ladies and gentlemen, we will now be conducting a question and answer session. If you would like to ask a question, please press star and one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star and two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. Ladies and gentlemen, we will wait for a moment while we poll for questions. Our first question is from the line of Jeremy Pedrotti, an investor. Please go ahead.

Speaker Change: Thank you.

Operator: Ladies and gentlemen, we will now be conducting a question and answer session. If you would like to ask a question, please press star and 1 on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star and 2 if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. Ladies and gentlemen, we will wait for a moment while we poll you for questions. Our first question is from the line of Jeremy Pedrotti, an investor. Please go ahead.

Speaker Change: Ladies and gentlemen, we will now be conducting a question and answer session.

If you would like to ask a question. Please press star and one on your telephone keypad.

Speaker Change: Information tone will indicate your line is in the question queue.

Speaker Change: You May press Star and two if you would like to remove your question from the Q.

Speaker Change: All participants using speaker equipment, it may be necessary to pick up your handset before pressing the star Keith.

Speaker Change: Ladies and gentlemen, we will wait for a moment, while we poll for questions.

Speaker Change: Okay.

Speaker Change: Our first question is from the line of Jeremy Pedrotti, and then West though please go ahead.

Jeremy Pedrotti: Good morning, gentlemen. I appreciate the information. As a stockholder at GNS, I was just wondering, with all the recent positive news that's been coming out about the Hobby Dobby and such and new things, how is that going to correlate as far as the stock price is concerned?

Speaker Change: Yeah.

Jeremy Pedrotti: Yeah, good morning, gentlemen. I appreciate the information. As a stockholder of GNS, I was just wondering, with all the recent positive news that's been coming out with Abu Dhabi and such and new things, how is that gonna correlate as far as the stock price? Appreciate the time. Thanks. Have a great day.

Jeremy Pedrotti: I appreciate your time. Thanks. Have a great day. Thanks very much, Jeremy. I'll answer that one later.

Jeremy Pedrotti: Yeah. Good morning, gentlemen, I appreciate the information as the stockholder VNS I was just wondering.

Jeremy Pedrotti: With all the recent positive news, that's been coming out with the Abu Dhabi and set some new things how is that going to correlate as far as the stock price.

Speaker Change: At the time, thanks have a great day.

Roger James Hamilton: Thanks very much, Jeremy. I'll answer that one. As we all know, the one thing that we as the executive team and the board can do is influence and control the growth of our company and do everything on our side to ensure that we're delivering value. We cannot control the stock price. Obviously, over time, it's all investors who are interested to see that stock price go up. As you heard from Adrian, we are gonna ensure that we keep getting the message out there, and we keep on attracting the right investors that are more interested in buying rather than selling our stock. At least from the point of view of us being closer to the market average of where we are as well. We are gonna continue on that pathway going forward.

Roger Hamilton: Thanks very much, Jeremy. I'll answer that one. As we all know, the one thing that we as the executive team and the board can do is influence and control the growth of our company and do everything on our side to ensure that we're delivering value. We cannot control the stock price. Obviously, over time, it's all investors who are interested to see that stock price go up. As you heard from Adrian, we are gonna ensure that we keep getting the message out there, and we keep on attracting the right investors that are more interested in buying rather than selling our stock. At least from the point of view of us being closer to the market average of where we are as well. We are gonna continue on that pathway going forward.

Speaker Change: Thanks, very much Jeremy I'll answer that one.

Roger Hamilton: Thanks very much, Jeremy. I'll answer that one later. As we all know, the one thing that we as the executive team and the board can do is influence and control the growth of our company and do everything on our side to ensure that we're delivering value. However, we cannot control the stock price. And so, obviously, over time, all investors are interested in seeing that stock price go up. As you heard from Adrian, we are going to ensure that we keep getting the message out there, and we keep on attracting the right investors that are more interested in buying rather than selling our stock, at least from the point of view of us being closer to the market average of where we are as well.

Speaker Change: As we all know the one thing that we as the executive team and the board can do it.

Speaker Change: His influence and control the breath of our company and do everything on outside to ensure that we're delivering value.

Speaker Change: We cannot control the stock price and so obviously over time is all investors who are interested to see that stock price go up.

Speaker Change: As you heard from Adrian we are going to ensure that we keep getting the message out there and we keep on attracting the right investors that are more interested in buying rather than selling our stock at least from the point of view of us being closer to the market average of where we are as well and we are going to continue on that pathway going forward.

Roger Hamilton: And we are going to continue on that pathway going forward. But that would be the answer. We're going to be 100 percent focused on the ongoing long-term growth of the business and keep proving to the market that we are continuing on this growth trajectory and making the most of this leadership position we have.

Roger James Hamilton: That would be the answer. We're gonna be 100% focused at the ongoing long-term growth of the business and keep proving to the market that we are continuing on this growth trajectory and making the most of this leadership position we have.

Roger Hamilton: That would be the answer. We're gonna be 100% focused at the ongoing long-term growth of the business and keep proving to the market that we are continuing on this growth trajectory and making the most of this leadership position we have.

Speaker Change: But that would be the answer we're going to be 100% focused at the ongoing long term growth of the business and keep proving to the market that we are.

Speaker Change: <unk> on this growth trajectory and making the most of this leadership position we have.

Operator 2: Thank you. Ladies and gentlemen, a reminder, if you wish to ask a question, please press star and one. As there are no further questions, I now hand the conference over to Roger Hamilton for his closing comments. Roger.

Operator: Thank you. Ladies and gentlemen, a reminder, if you wish to ask a question, please press star and one. As there are no further questions, I now hand the conference over to Roger Hamilton for his closing comments. Roger.

Speaker Change: Thank you.

Speaker Change: [noise].

Operator: Ladies and gentlemen, a reminder, if you wish to ask a question, please press star and 1. As there are no further questions, I now hand the conference over to Roger Hamilton for his closing comments.

Speaker Change: Ladies and gentlemen, a reminder, if you wish to ask a question. Please press star and one.

Speaker Change: As there are no further questions I now hand, the conference silver two larger Hamilton for his closing comments Roger.

Roger Hamilton: Thank you very much. In my closing comments, I would like to share that I am extremely happy with the way that the team is now executing on multiple fronts in our strategy. I'm extremely happy that we have attracted such an incredible leadership team as well, with Adrian now on board and also having both Peter and Michael who are on this call and on our board as well. I'm looking forward to the news that we're going to be able to share once we have closed the OpenEXO deal, as none of their financials currently are showing up in any of these numbers.

Roger James Hamilton: Thank you very much. On closing comments, I would like to share that I am extremely happy with the way that the team now is executing on multiple fronts on our strategy. Extremely happy that we have attracted such an incredible leadership team as well with Adrian now on board, and also having both Peter and Michael who are on this call and on our board as well. Looking forward to the news that we're gonna be able to share once we have closed the OpenExO deal, as none of their financials currently are showing up in any of these numbers. There is a lot of exciting news coming up in the future that we will be sharing in due course as we go as well.

Roger Hamilton: Thank you very much. On closing comments, I would like to share that I am extremely happy with the way that the team now is executing on multiple fronts on our strategy. Extremely happy that we have attracted such an incredible leadership team as well with Adrian now on board, and also having both Peter and Michael who are on this call and on our board as well. Looking forward to the news that we're gonna be able to share once we have closed the OpenExO deal, as none of their financials currently are showing up in any of these numbers. There is a lot of exciting news coming up in the future that we will be sharing in due course as we go as well.

Roger Hamilton: Thank you very much so on closing comments I would like to share that I am extremely happy with the way that the team now is executing on multiple fronts on our strategy I'm extremely happy that we have attracted such an incredible leadership team as well with Adrian now on board and <unk>.

Roger Hamilton: So having both Peter and Michael who are on this call and on our board as well and looking forward to.

Roger Hamilton: The news that we're going to be able to share once we have closed the open Nick so deal as their financials currently are showing up in any of these numbers.

Roger Hamilton: And there is a lot of exciting news coming up in the future that we will be sharing in due course as we go. And, as always, a big thank you to all of our investors that have stuck with us. And we look forward to the coming years as we move toward 2030 and what we believe is a continued acceleration of demand for AI education, which we are delivering now at scale. Thanks very much, everyone.

Roger Hamilton: And there is a lot of exciting news coming up in the future that we will be sharing in due course, as we go as well and as always a big Thank you to all of our investors that have stuck with us.

Roger James Hamilton: As always, a big thank you to all of our investors that have stuck with us, and we look forward to the coming years as we move toward 2030 and what we believe is a continued, accelerated demand for AI education, which we are delivering now at scale. Thanks very much, everyone.

Roger Hamilton: As always, a big thank you to all of our investors that have stuck with us, and we look forward to the coming years as we move toward 2030 and what we believe is a continued, accelerated demand for AI education, which we are delivering now at scale. Thanks very much, everyone.

Roger Hamilton: And we look forward to the coming years as we move towards 2030, and what we believe is and continued accelerated demand for AI education, which we are delivering now at scale. Thanks very much everyone.

Operator 2: Ladies and gentlemen, that concludes the conference of Genius Group. Thank you for your participation. You may now disconnect your lines.

Operator: Ladies and gentlemen, that concludes the conference of Genius Group. Thank you for your participation. You may now disconnect your lines.

Speaker Change: Ladies and gentlemen that concludes the conference of Genius group. Thank you for your participation you may now disconnect your lines.

Operator: Ladies and gentlemen, that concludes the Genius Group conference. Thank you for your participation. You may now disconnect your line.

Roger Hamilton: Okay.

Roger Hamilton: [music].

Roger Hamilton: Okay.

Roger Hamilton: Yeah.

Roger Hamilton: Okay.

Full Year 2023 Genius Group Ltd Earnings Call

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