Genius Group reports significant net asset growth and reduction in operating expenses

From GlobeNewswire: 2024-12-27 17:15:00

Genius Group Limited reported an increase in Net Asset Value to $54.6 million and a 74% reduction in net loss per share in the first half of 2024. The company provided guidance of $75 million net asset value for the full year, with growth in Bitcoin Treasury. Financial highlights for the first half of 2024 include a reduction in operating expenses, total loss, and loss per share compared to the same period in 2023. The company aims to achieve a sustainable cash positive operating model in 2025. Strategic and operational highlights for the first half of 2023 and recent highlights were also outlined.

The company withdrew guidance for the year 2024 due to issues related to the LZGI transaction but now anticipates its Net Asset Value to grow to $75 million for the full year. The company is committed to achieving profitable, cash positive operations and aims to build its Bitcoin Treasury to over $20 million. The financial statements for the fiscal year ended December 31, 2023, were prepared on a going concern basis. Adjusted EBITDA is used as a key measure by the management and board of directors to evaluate the company’s core operating performance and trends.



Read more at GlobeNewswire: Genius Group Announces 177% Net Asset Growth in First Half