SINGAPORE - Genius Group Limited (NYSE American: GNS), a $16 million market cap education company with a focus on artificial intelligence and Bitcoin, has announced the acquisition of XD Academy, a learning platform specializing in Bitcoin and Blockchain education. According to InvestingPro data, the company has shown strong momentum with a 9.7% return over the past week, despite facing significant volatility in recent months. XD Academy was originally created as a learning initiative by the cryptocurrency exchange BitMEX and later became an independent entity under the leadership of Lawrence Linker.
The deal, which is not considered material in economic terms, will see XD Academy's courses, including those by prominent figures such as Saifedean Ammous and Arthur Hayes, integrated into Genius Group's educational offerings. Ammous, the author of "The Bitcoin Standard," and Hayes, co-founder and former CEO of BitMEX, contribute courses titled "The Economics of Bitcoin" and "Building your Investment Thesis," respectively.
Lawrence Linker, CEO of XD Academy, will join Genius Group to expand the Bitcoin Academy's faculty and course selection on the company's Edtech platform. Genius Group aims to develop the Bitcoin Academy as part of its "Built on Bitcoin" decentralized education network, which includes on-chain merits, AI tutors, and AI certifications leveraging the Lightning Network.
Roger Hamilton, CEO of Genius Group, highlighted the acquisition's timing, coinciding with Bitcoin surpassing the $100,000 mark, and the growing demand for Bitcoin education among diverse groups, from students to CEOs. According to Hamilton, this move positions Genius Group to benefit from the surge in interest by offering educational growth alongside asset growth. While InvestingPro analysis indicates the company is currently undervalued, it faces financial challenges with a current ratio of 0.56, suggesting careful management of resources will be crucial for future growth.
Genius Group was a Moon Sponsor at the recent Bitcoin MENA 2024 event in Abu Dhabi, where Saifedean Ammous was a keynote speaker. The company also plans to host an Investor Meeting on Tuesday to discuss further developments related to its Bitcoin strategies and educational platform.
The acquisition of XD Academy by Genius Group is part of the company's strategy to enhance its AI-powered educational services and capitalize on the increasing interest in Bitcoin and decentralized finance. This information is based on a press release statement. With revenue growth of 26.8% in the last twelve months and analysts forecasting profitability this year, investors seeking deeper insights can access comprehensive analysis and 14 additional ProTips through InvestingPro's detailed research reports.
In other recent news, Genius Group Limited has been active in expanding its Bitcoin holdings and launching a global AI education platform. The education company recently invested an additional $1.8 million in Bitcoin, bringing its total investment to $15.8 million. This move aligns with the firm's "Bitcoin-first" strategy, aiming for an initial target of $120 million in the digital currency. Genius Group also announced the introduction of its new platform, GeniusGroup.AI, aimed at providing AI training, tools, and talent.
In terms of financial performance, Genius Group reported a substantial 130% increase in revenue for the first half of 2024, reaching $20.7 million. The company also saw a reduction in its adjusted EBITDA loss by 37%. Despite current challenges, analysts tracked by InvestingPro forecast the company to become profitable this year, with revenue growth of 3.47% expected.
Furthermore, Genius Group has reshuffled its Board and Management team, appointing four new directors and an Interim CFO. This move followed the resignation of four directors due to conflicts of interest and breaches of fiduciary and statutory duties. CEO Roger Hamilton acquired 500,000 ordinary shares and received approval for the purchase of up to 10 million shares, reflecting confidence in the company's future. These are some of the recent developments for Genius Group.
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