Summary by Moomoo AI
Genius Group Limited reported a significant improvement in its financial performance for the fiscal year ended December 31, 2023. The company's audited revenue increased by 27% from $18.2 million in 2022 to $23.1 million in 2023. Operating expenses saw a slight decrease from $50.5 million in 2022 to $48.3 million in 2023. Notably, the net loss before tax showed a substantial improvement, shrinking from $57.1 million in 2022 to $6.8 million in 2023. The company did not provide information on diluted earnings per share. In terms of liquidity, Genius Group ended the year with cash and cash equivalents of $0.6 million. The net cash used in operating activities amounted to $12.4 million, while $2.8 million was used in investing activities. Financing activities provided $9.9 million in cash flow. The company's key business metrics also reflected growth, with...Show More