Genius Group sees 2023 revenue of $48 million to $52 million, up 27% from 2022; stock jumps 15% premarket

Genius Group Ltd.
GNS,
+8.95%,
a Singapore-based education company, set guidance for 2023 on Monday, saying it expects revenue of $48 million to $52 million, up 37% from its 2022 proforma guidance. The company, which captured headlines last week when it said it had appointed a former F.B.I. director to lead a task force investigating alleged illegal trading in its stock that it first disclosed in early January, said it expects the number of students attending its entrepreneur-training courses to climb to 5.7 million to 6.0 million, up 30% from 2022. The company expects to achieve adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization, of $500,000 to $1.0 million. “In 2023 we are expecting Genius Group to continue our strong growth trajectory, and we are focused on managing our costs and achieving positive EBITDA,” Chief Executive Roger Hamilton said in a statement. The stock jumped 15% premarket. On Thursday, the stock soared a record 290% in heavy volume. Hamilton told MarketWatch on Friday about the company’s plan to go after people or groups that have been engaging in naked short selling of its stock.