SINGAPORE - Genius Group Limited (NYSE American: GNS), an education technology company specializing in AI-powered learning solutions, has announced an approval from its board for the purchase of up to 10 million ordinary shares by its Founder and CEO, Roger James Hamilton. The shares will be acquired at a rate of 105% of the closing price on the prior trading day, with payment to be made through both cash and debt conversion.
Hamilton expressed his commitment to the company's future, stating his belief in Genius Group's potential to lead in its sector amid the AI Revolution. The approved share purchase is seen as a reinforcement of his confidence in the company's trajectory.
The company, serving 5.4 million users across more than 100 countries, provides a range of AI-driven educational services, including training, tools, and talent development, through its Genius City model and online marketplace.
In a separate statement, Genius Group clarified that previous comments made by Hamilton on the X platform on August 7, 2024, regarding potential student numbers and revenue goals, should not be interpreted as official financial projections. The company emphasized that these statements were not meant as forecasts for the company's growth.
In other recent news, Genius Group Limited has reported significant developments in its operations and financial strategy. The AI-focused education and acceleration group announced a 27% increase in revenue to $23.1 million in 2023 and aims to achieve $105 million in revenue by 2024. The company has set an ambitious target to generate $1 billion in annual revenue by 2030.
The company also successfully completed Phase 1 of a $22 million contract with the government of Kazakhstan to develop a Sovereign AI. This move is part of Genius Group's broader strategy to advance technological development through partnerships between governance and the private sector.
In addition, Genius Group has secured approximately $3.8 million from the exercise of Series 2024-C warrants, managed by H.C. Wainwright & Co. This financial strategy aims to bolster the company's financial position, with the proceeds set aside for general corporate purposes.
In other developments, Genius Group has added Mr. Riaz Shah, OBE, a respected figure in the education sector, to its Board of Directors. Mr. Shah brings over two decades of experience, having served in various leadership positions at Ernst & Young (EY).
Lastly, Genius Group has announced the implementation of its AI technology system by the Asset Recovery Committee of the Prosecutor General’s Office of the Republic of Kazakhstan. The system aims to aid in the identification and recovery of illegally obtained assets within the country. These developments highlight Genius Group's recent advancements and strategic moves.
InvestingPro Insights
As Genius Group Limited (NYSE American: GNS) embarks on a strategic share purchase plan, investors are closely monitoring the company’s financial health and market performance. According to InvestingPro data, Genius Group currently has a market capitalization of $24.73 million and has experienced significant revenue growth of 26.76% over the last twelve months as of Q4 2023. This growth is reflected in the quarterly figures, with a notable 49.12% increase in revenue in Q4 2023. Despite these positive signs, the company's operating income margin remains deeply negative at -89.45%, indicating substantial operating losses.
InvestingPro Tips suggest a mixed picture for Genius Group. Analysts anticipate sales growth in the current year, which aligns with the revenue trends observed. However, the stock's recent performance has been challenging, with the price total return over the last week, month, three months, and six months showing steep declines of -27.87%, -48.14%, -66.91%, and -66.25%, respectively. These figures underscore the stock's high price volatility, a characteristic that investors should consider when evaluating the company's shares.
For those seeking a deeper analysis, InvestingPro offers additional insights, including 17 more InvestingPro Tips for Genius Group Limited, which can be found at https://www.investing.com/pro/GNS. These tips provide a comprehensive view of the company's financial health and market position, helping investors make more informed decisions.
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