Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| This growth to digital schooling is taking place alongside a surge in homeschooling, as parents discover the benefits and ease of educating their children from home and this can be seen from the high penetration rate of online learning platforms in the next five years as it will reach 11.4% by 2027 |
| As the future of AI looks very promising, Genius Group will continue to embrace the technology integrating the latest developments to provide our users and partners the best possible customer experience on our platform |
| We are very excited about what the next five years will bring us, as we are already on the core technologies required for our growth strategies, and we will also continue to build upon them to improve our customer and partner experience |
| We believe that by maintaining a first mover advantage within these emerging technologies gives Genius Group our partners and our students an opportunity to be at the forefront of what we see as a coming education revolution |
| Combined with their own Genie AI, which itself will continue to advance with AI technology, we'll be able to deliver on the promise of a truly [technical difficulty] for each student, one that is globally accessible, reduces barriers to education, provides dynamic and relevant learning and nurtures gamified and engaging connections between students, entrepreneurs, investors, and the companies seeking the talent they need to grow |
| We have grown our revenue by 121% year-on-year and increased our gross margins to 52.6% |
| All these factors combined reinforce our confidence and second half waiting for 2023 earnings in our strategic direction |
| Our strong growth is underpinned by favorable industry dynamics and trends |
| As we accelerate the integration of our acquired company, we have a growing operating leverage driven by top line synergy from our asset platform and the digitization of our portfolio product |
| That's super exciting, because it means that we can continue on this growth path, and just continue to find the right partnerships that we can get attracted as we go forward, where a lot of right now is about positioning |
| The release of the three tech projects that I just discussed as strategic moves aimed at solidifying Genius Group's position in the industry, and ensuring long-term growth and sustainability |
| So the continued increase in the number of students and partners in our platform is also a testament to the quality of our platform of courses across our subsidiaries |
| And I think the data and the joint venture position us really, really well in going much faster to the market than doing it ourselves |
| And also as we are integrating them into the same freemium model, and student and partner pathways on GeniusU, we are expecting them to improve on their operational metrics, such as the cost per student or partner, revenue per student, or partner and our RAS which is our return on acquisition spend, which in turn will improve Genius Group’s operational metrics |
| Since the launch of our first version of the Genie AI, we’ve witnessed an overwhelmingly positive response, the daily user count has scored a sword testament for the tools efficacy and appeal |
| In the future, we will continue to focus on further improving our overall gross margin through synergies and higher efficiencies |
| But we're very lucky because while most technology companies in the same field, our early revenue, we have positioning while at the same time generating revenue, and building our student and partner base as well |
| The strong increase in two segments was due to the revenue from our acquisition and an increasing demand leads to capacity expansion and operations coming back to normal after COVID |
| This has enabled us to grow globally to over 1.4 million members and now as you've just heard over 5 million students and to self-assess our growth with the same entrepreneurs that we have been educating |
| The strong growth was driven by an increase of 159.5% in education revenue to $8.96 million and the 50% increase in campus revenue to $2.83 million |
| We expect to continuously increase the number of students and partners as we step up our organic growth efforts by mainly increasing marketing spend, and improving our customer experience and continue our inorganic growth by making further acquisitions |
| We have been listed on the New York Stock Exchange, American for 18 months, and the company has had great results to-date |
| We believe this will increase the lifetime value of our students and reduce the student and partner acquisition costs for each level of our curriculum |
| We are innovating in launching new technologies to continue to be the technology leader in the education space, and we believe that the fruit of those investments will be reflected in our operational financial metrics all the time |
| And if we're in the process of recovering share prices that made more sense to have a joint venture at this point, and still get all the benefits for our students, by us actually working together that the best in the industry |
| Our cost of revenue declined in percentage terms in 2023 as a result of improved results from our campus business and the acquisitions, we had higher gross margin, the marketing spend and investment in development assets in the first half of 2023 is consistent in the comparison to the first half of 2022 |
| AI has revolutionized the way we do business and for the company to maintain a competitive edge in the dynamic edtech landscape and to stay ahead of the competition in the edtech industry |
| As we believe that it's far more effective to attract 100 influencers and thought leaders who believe in our mission, and we have a million students to join our platform, but to get to 100 million students student by student our top priority was to strengthen our partner portal to give educators the tools they need |
| The integration of acquired company to GeniusU, will help accelerate the speed, size and scale, increasing their involvement and capacity to deliver courses and increase their student retention through personalized education pathways |
| This growth is driven by population growth in developing markets, which fuels expansion and technology which underpins unprecedented rescaling and upskilling in developed economies |
| Statement |
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| Also, as Roger explained earlier, the release of 3D tech product this year, which was the result of recent realization of some of our projects, which resulted in delays in certain product launches and the establishment of partnership and acquisition |
| The negative adjusted EBITDA was $7.32 million in the first half of 2023, is partially due to further group investment in development marketing spend [indiscernible] and professional services |
| The group had negative adjusted EBITDA of $7.32 million in the first half of 2023 compared to a negative adjusted EBITDA of $1.96 million in H1 2022 |
| The education industry today faces challenges at all levels |
| With inflation still driving the economy, high interest rates and salaries showing little to no growth |
| Genius Group is an EdTech company that is disrupting the education industry by delivering a global AI-driven personalized entrepreneur education system that prepares students for the 21st Century |
| Genius Group listed as shares on the Blockchain exchange upstream in March 2023, as a way for shareholders to hold their shares on the Blockchain, we’ve delisted from it in September due to complex securities regulations arising from dual listing on Upstream and NYSE |
| Lastly, Roger enumerated a series of cooperation activities undertaken by Genius Groups to defend the shareholders, which resulted in an increase of professional costs which impact our bottom line 2023 financial needs |
| And in addition to a strong growth in edtech spending, and the growing number of students globally, we believe that the entire schooling system is also being disrupted by the shift to more online learning |
| And that's because we believe that education has got three big bottlenecks that each gets solved with partnerships |
| Colleges and universities are unaffordable, teachers are underpaid, and underappreciated |
| The group shareholder decreased from $13.95 million in December 2022 to $6.3 million in June 2023 |
| The primary reasons for decline is usage of restricted cash for the repayment of convertible notes, acquisition use and operational losses in the first half of 2023 |
| This inclination to diversity income sources -- to diversify income sources is a direct response to the economic challenges many face today |
| The group's non-current assets decreased from $67.01 million in December 2022 to $66.05 million in June 2023 |
| The reduction in equity due to the loss of $10.7million in the first half of 2023 |
| In summary, the current education system today is standardized, expensive and out of date, and it is need of a drastic change |
| The confidence stems from a persistently high demand, with the business with our range of services and courses offering |
| Actual results and events could differ materially from projections, due to a number of risks and uncertainties discussed in our press release, SEC filings and supplemental materials |
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