Exhibit 99.2




Genius Group Ltd. Announces 17.18% Revenue Growth in First Half of 2022 and Expansion of Gross Margin on a Pro Forma Basis to 48.49%


SINGAPORE OCTOBER 19, 2022 (BUSINESSWIRE): Genius Group Limited (“Genius Group” or the “Company”) (NYSE American: GNS), a leading entrepreneur Edtech and education group, today announced its financial results for the first half of 2022.


Financial Highlights From the First Half of 2022


H1 2022 revenue growth to $7.44 million, 17.18% growth over H1 2021 and revenue of $16.57 million on a pro forma basis in H1 2022
H1 2022 gross margin of 29.97%, compared to 25.85% in H1 2021 and gross margin of 48.49% on a pro forma basis in H1 2022
H1 2022 net loss of ($3.50) million and net loss on a pro forma basis of ($2.61) million in H1 2022
H1 2022 EBITDA net loss of ($1.96) million compared to EBITDA net loss of ($0.62) million in H1 2021 and EBITDA net loss on a pro forma basis of ($0.95) million in H1 2022
Cash and equivalent as of June 30, 2022 of $7.58 million compared to $1.78 million as of December 31, 2021


Roger Hamilton, CEO of Genius Group, commented: “Through the first half of the year, Genius Group has continued to see strong demand, resulting in pro forma margin expansion and significant growth in the number of students visiting our platform. Individuals are increasingly turning to online learning to complement their education and acquire the digital skills required in today’s economy, and this is reflected in our results.”


Operational Highlights


The number of students grew to 2.8 million, which represents a 13% growth on an annualized basis. On a pro forma basis, Genius Group had a group user base of 4.2 million (students and users) at the end of H1 2022.
The number of paying students grew to 39,124 since December 2021, a 9.44% annualized growth rate. On a pro forma basis, the company had 164,673 paying students and users.
The number of partners grew to 10,622 since December 2021, a 7.9% annualized growth rate. On a pro forma basis, partners grew to 12,391 since December 2021.





Other Recent Highlights


Appointment of Richard Berman as Audit Committee Chair after he joined the Company’s Board of Directors in January 2022
Appointment of Tim Murphy as Director and Head of Compliance Committee on the Board in September 2022
Appointment of Erez Simha as Chief Financial Officer to scale the company through both organic and inorganic growth
Appointment of Rav Karwal as Chief Revenue Officer to lead revenue, sales, and other go-to-market strategies and ensure exceptional client experiences
Acquisition of New Zealand-based Education Angels, a provider of in-home child care services, for US$1.9m
Acquisition of South African-based E-Squared Education Enterprises, a full campus with primary, secondary and college education for students in entrepreneurship, for $2.6m
Acquisition of U.S.-based University of Antelope Valley, accredited university in California, for $13m
Acquisition of U.K.-based Property Investors Network, a provider of property investment education, for $19.1m
Acquisition of U.S.-based Revealed Films Inc., media production company that specializes in multi-part documentaries, for US$10m
Sold a senior secured convertible note with a principal amount of $18.1m for a purchase price of $17 million


Financial Guidance


We are maintaining our 2022 pro forma adjusted EBITDA guidance at a lower pro forma revenue range.


Pro forma annual revenue of $35.0m-$38.0m
Pro forma adjusted EBITDA of $0.5m - $1.5m
Weighted average share count of 22,458,386
Number of students (and users) 4.2m-4.4m


Webcast and Conference Call


Genis Group will host a live webcast to discuss the results today at 8:00 a.m. ET / 8:00 p.m. SGT. The webcast and supplemental information can be accessed on the investor relations section of the Genius Group website at ir.geniusgroup.net. An archive will be available after the conclusion of the live event and will remain available via the same link for 6 months.


Time: Wednesday, October 19, 2022, at 8:00 a.m. ET / 8:00 p.m. SGT


Webcast:Go to the Investor Relations section of the Genius Group website to listen and view the slides.


Dial-in: 877-407-0712 (U.S. Toll Free); +1 201-493-6716 (International)





About Genius Group


Genius Group is a world leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today’s market. The group has a group user base of 4.2 million in 200 countries, ranging from ages 0 to 100.


Forward-Looking Statements


This press release contains certain forward-looking statements within the meaning of the U.S. federal securities laws, including (without limitation) statements regarding our or our management’s expectations, hopes, beliefs, intentions or strategies regarding the future and other statements that are other than statements of historical fact. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are generally identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.


Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: the Company’s goals and strategies; the Company’s future business development; changes in demand for online learning; changes in technology; fluctuations in economic conditions; the growth of the online learning industry the United States and the other markets the Company serves or plans to serve; reputation and brand; the impact of competition and pricing; government regulations; and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the “SEC”). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that arise after the date hereof.


Key Business Metrics


We monitor the key business metrics and Non-IFRS financial measures to help us evaluate our business and growth trends, set growth targets and budgets, and measure the effectiveness of our sales and marketing efforts. These key business metrics and Non-IFRS financial measures are presented for supplemental informational purposes only, are not a substitute for IFRS financial measures, and may differ from similarly titled metrics or measures presented by other companies. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Key Business Metrics and Non-IFRS Financial Measures” for detailed descriptions of the measures and metrics.





Non-IFRS Financial Measure


We have included Adjusted EBITDA because it is a key measure used by our management and board of directors to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operational plans. In particular, the exclusion of certain expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core business.


We calculate Adjusted EBITDA as net profit / loss for the period plus income taxes and social contribution plus / minus finance revenue /expense result plus depreciation and amortization plus share-based compensation expenses plus bad debt provision.




(In US Dollars)


   As of June 30,   As of December 31, 
   2022   2021 
   (Unaudited)   (Audited) 
Current Assets          
Cash and cash equivalents  $7,576,587   $1,784,938 
Accounts receivable, net   2,137,771    1,018,003 
Other receivables   4,226,476    66,000 
Due from related parties   2,025,440    44,245 
Inventories   96,181    92,530 
Prepaid expenses and other current assets   2,866,462    3,490,446 
Total Current Assets   18,928,917    6,496,162 
Property and equipment, net   6,753,497    6,776,116 
Operating lease right-of-use asset   808,376    1,077,241 
Investments at fair value   109,583    29,069 
Goodwill   17,156,708    1,320,100 
Intangible assets, net   3,509,138    1,394,969 
Other non-current assets   13,296,318    501,750 
Total Assets   60,562,537    17,595,407 
Liabilities and Stockholders’ Equity          
Current Liabilities          
Accounts payable   1,608,171    1,078,381 
Accrued expenses and other current liabilities   3,620,576    2,064,302 
Deferred revenue   2,494,753    2,561,912 
Operating lease liabilities – current portion   210,809    436,271 
Income tax payable   377,190    - 
Loans payable – current portion   28,923    65,415 
Loans payable – related parties – current portion   532,265    425,551 
Convertible debt obligations, current portion   900,974    507,765 
Total Current Liabilities   9,773,661    7,139,597 
Due to related parties   -    - 
Operating lease liabilities – non-current portion   842,056    894,589 
Loans payable – non-current portion   1,281,786    85,858 
Convertible debt obligations, non-current portion   -    766,245 
Deferred tax liability   1,070,157    723,122 
Total Liabilities   12,967,660    9,609,411 
Commitments and Contingencies Stockholders’ Equity:          
Contributed capital   94,026,740    50,924,276 
Subscriptions receivable   (1,954,415)   (1,900,857)
Reserves   (34,809,105)   (31,888,638)
Accumulated deficit   (16,523,809)   (13,493,684)
Capital and reserves attributable to owners of Genius Group Ltd   40,739,411    3,641,097 
Non controlling interest   6,855,466    4,344,899 
Total Stockholders’ Equity   47,594,877    7,985,996 
Total Liabilities and Stockholders’ Equity   60,562,537    17,595,407 







(In US Dollars)


   June 30,   June 30, 
   2022   2021 
   (Unaudited)   (Unaudited) 
Revenue  $7,443,230   $6,351,751 
Cost of revenue   (5,212,637)   (4,708,872)
Gross profit   2,230,593    1,642,859 
Operating (Expenses) Income          
General and administrative   (5,249,054)   (3,055,332)
Depreciation and amortization   (178,807)   (81,993)
Other operating income   166,001    67,230 
Loss from foreign currency transactions   58,759    (66,187)
Total operating expenses   (5,203,101)   (3,136,282)
Loss from Operations   (2,972,508)   (1,493,423)
(Expense) Income          
Interest expense, net   (99,298)   (182,783)
Impairment loss   (480,372)    
Other income   30,713     
Total Other Expense   (548,957)   (182,783)
Loss Before Income Tax   (3,521,465)   (1,676,206)
Income Tax Benefit (Expense)   24,238    47,039 
Net Loss   (3,497,227)   (1,629,167)
Other comprehensive income:          
Foreign currency translation   (69,375)   70,711 
Total Comprehensive Loss   (3,566,602)   (1,558,456)
Total Comprehensive Loss is attributable to:          
Owners of Genius Group Ltd   (3,420,929)   (1,530,682)
Non controlling interest   (145,673)   (27,774)
Total Comprehensive Loss   (3,566,602)   (1,558,456)
Weighted-average number of shares outstanding, basic and diluted   17,794,634    16,155,812 
Basic and diluted earnings (loss) per share from continuing operations   (0.20)   (0.10)







(In US Dollars)


   For the Period Ended 
   June 30,
   December 31,
   (Unaudited)   (Audited) 
Cash Flows From Operating Activities          
Net loss  $(3,497,227)  $(4,489,198)
Adjustments to reconcile net loss to net cash used in operating activities:          
Stock-based compensation   150,317    293,837 
Depreciation and amortization   835,757    1,574,913 
Deferred tax liability       105,650 
Amortization of debt discount       140,837 
Provision for doubtful debts       (39,108)
Amortization of tax liability   (29,679)    
Impairment loss   480,372     
Loss on foreign exchange transactions   (58,759)   153,692 
Interest expense on lease liabilities   58,026    131,291 
Changes in operating assets and liabilities:          
Accounts receivable   (480,438)   (30,554)
Other receivable       (66,000)
Prepaid expenses and other current assets   (1,840,348)   (1,927,176)
Inventory   (3,651)   20,013 
Accounts payable   430,633    256,562 
Accrued expenses and other current liabilities   (609,406)   254,080 
Deferred revenue   82,841    1,015,200 
Deferred tax liability       (257,953)
Other non-current liabilities       (217,291)
Total adjustments   (984,335)   1,407,993 
Net Cash Used In Operating Activities   (4,481,562)   (3,081,205)
Cash Flows From Investing Activities          
Purchase of intangible assets   (313,876)   (804,314)
Purchase of equipment   (79,455)   (77,797)
Acquisition of PIN, EA and ESQ   (2,116,456)    
Deposit on investment in UAV   (6,604,194)    
Investment at fair value   (80,514)     
Net Cash Used In Investing Activities   (9,194,496)   (882,111)
Cash Flows From Financing Activities          
Amount due to/from related party   (338,280)   (154,345)
Proceeds from sale of future shares       953,087 
Proceeds from equity issuances, net of issuance costs   2,605,215    3,127,442 
Proceeds from IPO, net   18,060,447     
Issuance from convertible debt   (147,582)    
Operating lease liability payments   (306,811)   (758,522)
Proceeds/ (Repayments) of loans payable   (192,465)   (71,967)
Net Cash Provided By Financing Activities   19,680,524    3,095,695 
Effect of Exchange Rate Changes on Cash   (212,817)   379,408 
Net Increase (Decrease) In Cash   5,791,649    (488,213)
Cash – Beginning of year   1,784,938    2,273,151 
Cash – End of period   7,576,587    1,784,938 


Pro Forma Financials


Pro forma financials for Genius Group (The full Group including the Group and the all Acquisitions YTD): Unaudited pro forma financials provided for the period ended June 30, 2022, for the full Group, including all acquired companies YTD as if they were operating as one during these periods. The acquisitions included in the table below are Property Investors Network (acquired April 30, 2020), Education Angels (acquired April 30, 2022), E-Square (acquired May 31, 2022), University of Antelope Valley (acquired July 07, 2022) and Revealed Films (acquired October 04, 2022).





   Genius Group
Pro forma
Six Months
(USD 000’s)
Summary Income Statement  June 30, 2022 
Sales   16,573 
Cost of goods sold   (8,536)
Gross profit (Loss)   8,037 
Other Operating Income   225 
Operating Expenses   (11,086)
Operating profit (Loss)   (2,824)
Other income   783 
Other Expense   (588)
Net Income (Loss) Before Tax   (2,630)
Tax Expense   24 
Net Income (Loss) After Tax   (2,605)
Other Comprehensive Income   (70)
Total Income (Loss)   (2,675)
Net income per share, basic and diluted   (0.15)
Weighted-average number of shares outstanding, basic and diluted   17,794,634 


   Genius Group
Pro forma
Six Months
(USD 000’s)
Adjusted EBITDA  June 30, 2022 
Net Income (Loss)   (2,605)
Tax Expense   (24)
Interest Expense, net   108 
Depreciation and Amortization   938 
Goodwill Impairments   480 
Stock Based Compensation   150 
Adjusted EBITDA   (953)


   Genius Group
Pro forma
Six Months
(USD 000’s)
   June 30, 2022 
Summary Balance Sheet Data:    
Total current assets   21,751 
Total non-current assets   56,781 
Total Assets   78,532 
Total current liabilities   12,033 
Total non-current liabilities   11,904 
Total Liabilities   23,937 
Total Shareholders’ Equity   54,595 
Total Liabilities and Shareholders’ Equity   78,532 








Flora Hewitt, Vice President of Investor Relations and Mergers and Acquisitions

Email: investor@geniusgroup.net


Media Contacts:

Ruth Shearman, Senior Account Manager, Adia PR

Email: gns@adiapr.co.uk