Genius Group Completes FatBrain AI Merger; 150% Increase in 2023 Combined Proforma Revenue Guidance
Portfolio Pulse from Benzinga Newsdesk
Genius Group has completed its merger with FatBrain AI, following NYSE approval. The all-stock transaction includes AI software assets, customer relationships, and specific operations of FatBrain AI. This merger is expected to increase Genius Group's 2023 pro forma revenue guidance by approximately 150% to an estimated $76 million to $80 million, and its pro forma net profit guidance by $4 million to $7 million to $9 million.
March 14, 2024 | 6:12 pm
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Genius Group's merger with FatBrain AI is expected to significantly boost its 2023 revenue and net profit guidance, with a 150% increase in revenue to $76M-$80M and a $4M increase in net profit to $7M-$9M.
The merger with FatBrain AI significantly enhances Genius Group's financial outlook for 2023, indicating a substantial increase in both revenue and net profit. This positive financial projection is likely to be viewed favorably by investors, potentially leading to an increase in the stock price in the short term.
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