The Glimpse Group

The Glimpse Group, Inc. is a technology development company which provides virtual reality and augmented reality services. The company was founded by Lyron L. Bentovim, Maydan Rothblum and David J. Smith on June 15, 2016 and is headquartered in New York, NY.

Earnings data Q1 2022

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Glimpse Group reports strong Q1 revenue growth and strategic repositioning

VRAR (VRAR) Q1 2023 showcased robust revenue growth and strategic initiatives aimed at repositioning the company for long-term success. While the company faces challenges in achieving cash flow neutrality, its strong partnerships and focus on immersive enterprise software present opportunities for future growth and market leadership.

The Glimpse Group reports strong revenue growth and operational improvements

The Glimpse Group's Q2 2023 performance reflects robust revenue growth and successful integration of acquisitions, despite an EBITDA loss.
Operational efficiency improvements and innovative initiatives position the company well for future growth and market expansion.
Challenges in achieving cash flow neutrality and balancing profitability with investments in technology highlight areas for strategic focus.
With a strong cash position and a focus on long-term value creation, the company is poised to capitalize on opportunities in the VR/AR market.

Glimpse Group reports strong revenue growth and strategic initiatives

The Glimpse Group demonstrated robust revenue growth in Q3 2023, driven by new contracts and a strategic focus on immersive technology software platforms. While facing an EBITDA loss, the company's strong cash position of $8.3 million provides stability. Glimpse Group's emphasis on cloud-based solutions and cost management will be crucial for future success.

Glimpse Group reports robust revenue growth and strategic operational shifts

The Glimpse Group's fiscal year 2023 showcased strong revenue growth and strategic shifts towards immersive enterprise software.
While facing an EBITDA loss, the company's focus on operational efficiency and future profitability bodes well for long-term success.
With a solid cash position, Glimpse is poised to capitalize on industry developments and growth opportunities in the immersive technology sector.

The Glimpse Group reports mixed Q1 results, eyes rebound in Q3

The Glimpse Group's Q1 FY '24 performance showed revenue growth sequentially but a decline year-over-year, with a focus on cost optimization and balance sheet strength.
Despite near-term revenue challenges, the company's strategic focus on spatial computing and immersive software solutions presents growth opportunities.
Maintaining a strong cash position, reducing costs, and exploring strategic realignment indicate a proactive approach to navigating market dynamics.

The Glimpse Group focuses on immersive enterprise growth amid revenue decline

The Glimpse Group's Q2 FY24 performance reflects strategic realignment towards immersive enterprise solutions, with revenue decline offset by cost reduction efforts. Strong progress on Spatial Core initiative and emphasis on cloud computing highlight growth potential. Challenges include revenue decline and the need to achieve operational cash breakeven, while opportunities lie in expanding contracts and industry scalability.

The Glimpse Group shifts focus to enterprise solutions, eyes growth

The Glimpse Group is strategically transitioning to enterprise-scale spatial computing solutions, with a focus on securing significant government and enterprise contracts.
While facing short-term revenue decline and operational challenges, the company's strong gross margins and cost reduction efforts position it for future profitability.
Anticipated growth in annual recurring software revenue and the potential to achieve cash flow positivity by September 2024 signal a positive outlook for The Glimpse Group.

The Glimpse Group transitions to Spatial Core, eyes revenue growth

The Glimpse Group's shift to Spatial Core solutions and lucrative contracts signal growth potential despite revenue decline.
Financial challenges include NASDAQ non-compliance and revenue decrease, offset by positive cash flow projections and strong contract pipeline.
Strategic exploration, operational efficiency, and market positioning are key focus areas for future growth and shareholder value maximization.

The Glimpse Group sees revenue growth amidst profitability challenges

The Glimpse Group's Q1 FY '25 performance reflects revenue growth and operational improvements, albeit with profitability challenges.
Strengths lie in securing high-value contracts, progress in emerging tech sectors, and strategic divestment for operational efficiency.
Challenges include market perception issues, revenue decline, and ongoing profitability concerns, while opportunities exist in strategic alignment and revenue growth.

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The Glimpse Group, Inc. is a technology development company, which engages in the provision of virtual and augmented reality, and spatial computing software and services. The company was founded by Lyron L. Bentovim, Maydan Rothblum, and David J. Smith on June 15, 2016 and is headquartered in New York, NY.

NEW YORK, NY / ACCESSWIRE / November 14, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Immersive Technology platform company providing enterprise-focused Virtual Reality ("VR"), Augmented Reality ("AR") and Spatial Computing software and services, provided financial results for its first quarter fiscal year 2024 ("Q1 FY'24"). Business Summary by President & CEO Lyron Bentovim Q1 FY '24 (July 1, 2023 - September 30, 2023) was highlighted by: Q1 FY '24 quarterly revenue of approximately $3.1 million, a 7% Q-Q increase compared to Q4 FY '23 revenue of approximately $2.9 million and a 22% decrease compared to the record revenue of approximately $3.95 million in Q1 FY '23.

The Glimpse Group Reports Q1 Fiscal Year 2024 Financial Results

NEW YORK, NY / ACCESSWIRE / November 7, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Immersive technology platform company providing enterprise-focused Virtual Reality ("VR"), Augmented Reality ("AR") and Spatial Computing software and services, will release financial results for its First Quarter Fiscal Year 2024 (ended September 30, 2023) after the market close on Tuesday, November 14, 2023. Management will host a conference call to discuss financial results, provide a corporate update, and conclude with a Q&A session.

The Glimpse Group to Announce Q1 Fiscal Year 2024 Financial Results On Tuesday, November 14, 2023 at 4:30 p.m. Eastern Time

NEW YORK, NY / ACCESSWIRE / October 19, 2023 / Sector 5 Digital ("S5D"), a wholly-owned subsidiary of The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR),(FSE:9DR), and a leader in immersive content development, entered into a 6-figure engagement with one of the world's largest architecture firms to visualize in Augmented Reality ("AR") the new business campus of a multinational retail company. The offering includes various "lenses" in which visitors can view the campus in WebAR (which does not require the user to download an app, and can be accessed via a browser), and learn about the environmental and cultural impact of the campus on the surrounding neighborhoods.

Sector 5 Digital Partners With A Tier-1 Global Architecture Firm To Create An Immersive Experience For The Business Campus Of One Of The World's Largest Big Box Retailers

NEW YORK, NY / ACCESSWIRE / October 5, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Immersive Technology platform company providing enterprise-focused Virtual Reality ("VR"), Augmented Reality ("AR") and Spatial Computing software and services, today announced it was selected for the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. For the review period of Fiscal Year 2019-2022, Glimpse's revenues grew by approximately 640%.

The Glimpse Group Named to the Deloitte Technology Fast 500 Fastest-Growing Companies in North America List

Glimpse (NASDAQ: VRAR ) stock is falling hard on Friday following the release of the virtual reality ( VR ) and augmented reality ( AR ) company's earnings report. The bad news for Glimpse stock comes from its revenue of $2.9 million for the current quarter.

Why Is Glimpse (VRAR) Stock Down 43% Today?

Start Time: 16:30 January 1, 0000 4:54 PM ET The Glimpse Group, Inc. (NASDAQ:VRAR ) Q4 2023 Earnings Conference Call September 28, 2023, 16:30 PM ET Company Participants Lyron Bentovim - President and CEO Maydan Rothblum - CFO and COO Conference Call Participants Casey Ryan - WestPark Capital Jordan Satary - Beeline Advisory Operator Welcome to The Glimpse Group Fiscal Year 2023 Financial Results Webinar. At this time, all participants are in a listen-only mode.

The Glimpse Group, Inc. (VRAR) Q4 2023 Earnings Call Transcript

Fiscal Year 2023 Revenues Grew by 85% Year-over-Year to Approximately $13.5 Million, a 4X Increase Over Two Fiscal Years Realigning Company To Focus on Immersive Software Driven by Spatial Computing, Cloud and AI Significantly Reduced Cash Operating Expense Base; Fortified Balance Sheet NEW YORK, NY / ACCESSWIRE / September 28, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Immersive Technology platform company providing enterprise-focused Virtual Reality ("VR"), Augmented Reality ("AR") and Spatial Computing software and services, provided financial results for its fiscal year ended Jume 30, 2023 ("FY'23"). Business Commentary by President & CEO Lyron Bentovim FY '23 (July 1, 2022 - June 30, 2023) was highlighted by: FY '23 revenue of approximately $13.5 million, a 85% increase compared to FY '22 revenue of approximately $7.3 million, primarily driven by the acquisitions of Brightline Interactive ("BLI") and Sector 5 Digital ("S5D").

The Glimpse Group Reports Fiscal Year 2023 Financial Results

NEW YORK, NY / ACCESSWIRE / September 20, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Immersive technology platform company providing enterprise-focused Virtual Reality ("VR"), Augmented Reality ("AR") and Spatial Computing software and services, will release financial results for its fiscal year 2023 (ended June 30, 2023) after the market close on Thursday, September 28, 2023. Management will host a conference call to discuss financial results, provide a corporate update, and conclude with a Q&A session.

The Glimpse Group to Announce Fiscal Year 2023 Financial Results on Thursday, September 28, 2023 at 4:30 p.m. Eastern Time

NEW YORK, NY / ACCESSWIRE / August 24, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Virtual Reality ("VR") and Augmented Reality ("AR") company providing enterprise focused immersive technology software and services solutions, announced today the initiation of independent equity analyst coverage by WestPark Capital, with a "Buy" recommendation and a $8.87/share price target. Lyron Bentovim, President & CEO of Glimpse commented: "We view Glimpse as a proxy to the Immersive technology software and services industry, driven by our diversified structure and leadership position.

The Glimpse Group Announces Initiation of Independent Equity Analyst Coverage by WestPark Capital with a "Buy" Recommendation

NEW YORK, NY / ACCESSWIRE / August 14, 2023 / The Glimpse Group, Inc. ("Glimpse"), (NASDAQ:VRAR)(FSE:9DR), a diversified Virtual Reality ("VR") and Augmented Reality ("AR") company providing enterprise focused immersive technology software and services solutions, announced today that its subsidiary company, PulpoAR, LLC (www.pulpoar.com) - a provider of omnichannel virtual try-on V-commerce solutions utilizing AR & AI technologies customized for beauty, makeup and fashion brands - has entered into a software license agreement for its SkinAI solution with Yves Rocher, a global skin care, cosmetics and perfume company. As part of this initial software license agreement, valued in the mid five figures, PulpoAR will provide Yves Rocher with the ability to integrate more than 100 of its beauty product SKUs on the SkinAI software, which could translate in hundreds of thousands online diagnostics per month.

PulpoAR Provides AI-Powered Skin Analysis and Product Recommendation Software Solutions to Yves Rocher

NEW YORK, NY / ACCESSWIRE / August 11, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR), (FSE:9DR), a diversified Virtual Reality ("VR") and Augmented Reality ("AR") company providing enterprise focused immersive technology software and services solutions, announced today that it will lead a strategic discussion on Twitter Spaces on the topic of Spatial Computing, AI and Blockchain in the Immersive industry and Glimpse's role in these. The discussion will be led by Glimpse President & CEO - Lyron Bentovim, and Glimpse Chief Futurist and General Manager of Brightline Interactive - Tyler Gates.

Glimpse to Discuss Spatial Computing, AI and Blockchain - Key Pillars of the Emerging Immersive Industry On Twitter Spaces, hosted by WOLF Financial (Monday, August 14, 2023 at 12:30pm EST)

Utilizing Brightline's patented Celebrity AR spatial computing and AI technology to facilitate interactions between everyday consumers, global icons and brands Celebrity AR is the first globally scaled AR platform backed by groundbreaking AI capability developed in partnership with NVIDIA, Microsoft, and Open AI NEW YORK, NY / ACCESSWIRE / August 10, 2023 / Brightline Interactive ("BLI"), a wholly owned subsidiary of The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR), (FSE:9DR), and a leader in spatial computing, deep tech and 5G integration, announced that it entered into a six figure contract with The Playmakers Group, a hospitality group creating restaurants that highlight athletes and bring fans an immersive dining experience, for the opening of their first restaurant, Nowitzki, in The Dallas Ft. Worth International Airport.

Brightline Interactive Partners with The Playmakers Group To Build And Deploy A Spatial Computing, AI Powered, AR Experience to Showcase Its New Restaurant, Nowitzki

Immersive Technologies Are Being Increasingly Utilized Across Industries By Top Tier Glimpse Customers NEW YORK, NY / ACCESSWIRE / August 8, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Virtual Reality ("VR") and Augmented Reality ("AR") company providing enterprise focused immersive technology software and services solutions, announced that it has entered into two follow-on contracts with major organizations. One follow-on contract, via Glimpse subsidiary company Foretell Reality (https://foretellreality.com/) and estimated in the low six figures, is for a logistics-focused VR Simulation and software license with a major NYC hospital, that will be utilized to safely and effectively instruct the hospital's facilities team on best practices relating to specific hazardous operations.

Glimpse Signs Follow-on Immersive Technology Contracts with Two Global Leaders

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S5D built highly realistic digital 3D models of both the exterior and interior of the new jet in order to create interactive elements for the launch campaign NEW YORK, NY / ACCESSWIRE / June 29, 2023 / Sector 5 Digital ("S5D"), a wholly owned subsidiary of The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR), (FSE:9DR), and a leader in immersive content development, completed a 6-figure engagement with Textron Aviation to develop captivating immersive marketing materials for the highly anticipated debut of its Cessna Business Jet - The Citation Ascend™. S5D created a comprehensive experiential marketing campaign comprising three key components including: an interactive customer experience allowing customers and partners to explore the interior cabin and discover detailed information about the aircraft's specifications and features, an air-to-air CGI video showcasing the Citation Ascend in flight, and an abstract sizzle video designed to build excitement and anticipation around the future launch of the Citation Ascend.

Sector 5 Digital (S5D) Develops Immersive Marketing Experience for Textron Aviation's Latest Cessna Business Jet

Brightline to Provide its Spatial Computing Platform Combined with AI and Machine Learning to Train Industrial Robots to Perform Human-like Tasks in an Operational Environment NEW YORK, NY / ACCESSWIRE / June 26, 2023 / Brightline Interactive ("BLI"), a wholly owned subsidiary of The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), and a leader in spatial computing, deep tech and 5G integration, announced that it is part of a team that was awarded a Direct-to-Phase II contract through AFWERX (www.afwerx.af.mil) - a technology directorate of the U.S. Air Force Research Laboratory (AFRL) and the innovation arm of the Department of the Air Force. BLI will work alongside prime contractor BCI Solutions and fellow subcontractor, Purdue University, with a total initial award value in the low seven figures.

Brightline Interactive, Alongside Prime Contractor BCI Solutions and Sub Contractor Purdue University, Awarded a Seven Figure Direct-to-Phase II Contract with The U.S. Air Force (AFWERX)

NEW YORK, NY / ACCESSWIRE / June 22, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified immersive technology platform company providing enterprise-focused Virtual Reality ("VR") and Augmented Reality ("AR") software and services solutions, today announced that its wholly owned subsidiary company XR Terra, a provider of virtual and augmented reality training courses, will be making its XR Foundations for Educators program available on Verizon Innovative Learning HQ , a free education portal available to K-12 educators nationwide. The XR Foundations for Educators program is designed to help teachers gain confidence in the fundamentals of the latest immersive technologies, including AR and VR.

XR Terra Partners with Verizon to Empower Thousands of K12 Teachers with XR & Metaverse Skills and Knowledge

Glimpse Group, a provider of software services for VR/AR, is poised to benefit from increased attention to the immersive technology space following Apple's Vision Pro VR headset reveal. The company reported strong revenue growth in Q3 2023, with a 79% Y/Y increase, and is making strides towards cash flow neutrality by next quarter. Glimpse's diverse customer base, partnerships with major players in the industry, and first-mover advantage in immersive software make it an attractive high-risk/high-reward investment.

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Immersive technology experts from Glimpse will analyze this potential development and discuss the significant implications for businesses and industries NEW YORK, NY / ACCESSWIRE / June 5, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Virtual Reality ("VR") and Augmented Reality ("AR") company providing enterprise focused immersive technology software and services solutions, is closely monitoring the rumors surrounding the highly anticipated announcement of the Apple XR headset and is scheduled to discuss its thoughts in a webinar later today as detailed below. Ahead of any official confirmation, industry experts and analysts are recognizing the potential opportunity that a release of this groundbreaking product could present.

Glimpse to Discuss the Anticipated Apple XR Headset Announcement and its Impact on the Immersive Technology Sector in a Live Webinar (Today, June 5th, 2023 at 3:30pm ET)

The Glimpse Group, Inc. (NASDAQ:VRAR ) Q3 2023 Earnings Conference Call May 15, 2023 4:30 PM ET Company Participants Lyron Bentovim - President and Chief Executive Officer Maydan Rothblum - Chief Financial Officer and Chief Operating Officer Operator Welcome to The Glimpse Group Fiscal Third Quarter 2023 Financial Results Webinar. [Operator Instructions] As a reminder, this conference is being recorded.

The Glimpse Group, Inc. (VRAR) Q3 2023 Earnings Call Transcript

Fiscal Third Quarter FY 2023 Revenues Grew by 79% Year-over-Year to Approximately $3.7 Million; Revenue for 9M FY 2023 Grew by 122% Year-over-Year to a Record of Approximately $10.6 Million; Significantly Reduced Cash Operating Expense Base; Launched a Strategic Initiative Focused On Providing Cloud and AI Based Immersive Software Enterprise Solutions NEW YORK, NY / ACCESSWIRE / May 15, 2023 / The Glimpse Group, Inc. (NASDAQ:VRAR)(FSE:9DR) ("Glimpse" or the "Company"), a diversified immersive technology platform company providing enterprise-focused Virtual Reality and Augmented Reality ("VR" and "AR") software & services, provided financial results for its fiscal third quarter ended March 31, 2023 ("Q3 FY'23"). Business Commentary by President & CEO Lyron Bentovim Q3 FY '23 (January - March ‘23) and 9M FY '23 (July '22 -March '23) were highlighted by: Q3 FY'23 quarterly revenue of approximately $3.7 million, a 79% increase compared to Q3 FY'22 revenue of approximately $2.0 million, representing the second highest quarterly revenue in the Company's history.

The Glimpse Group Reports Fiscal Third Quarter 2023 Financial Results

NEW YORK, NY / ACCESSWIRE / May 1, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Virtual Reality ("VR") and Augmented Reality ("AR") platform company providing enterprise-focused VR and AR software and services solutions, will release financial results for its fiscal third quarter 2023 (ended March 31, 2023) after the market close on Monday, May 15, 2023. Management will host a conference call to discuss financial results, provide a corporate update, and conclude with a Q&A session.

The Glimpse Group to Announce Fiscal Third Quarter 2023 Financial Results on Monday, May 15 at 4:30 p.m. Eastern Time

Utilizing Foretell Reality's collaborative VR platform, the University of Maryland is transforming undergraduate supply chain management education NEW YORK, NY / ACCESSWIRE / March 29, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR), (FSE:9DR), a diversified Virtual Reality ("VR") and Augmented Reality ("AR") company providing enterprise focused immersive technology software and services solutions, announced today that its subsidiary company, Foretell Reality, has partnered with The University of Maryland ("UMD") - Robert H. Smith School of Business - to provide immersive learning for undergraduates, with an initial focus on supply change management education.

University of Maryland's Smith School of Business and Foretell Reality Partner to Enhance Supply Chain Management Education Using Virtual Reality

Denny's recently launched a new web-based AR menu, created by Glimpse Subsidiary Company QReal, as part of its new "It's Diner Time'' platform NEW YORK, NY / ACCESSWIRE / March 22, 2023 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), a diversified Virtual Reality ("VR") and Augmented Reality ("AR") company providing enterprise focused immersive technology software and services solutions, announced today that its subsidiary company, Qreal , has entered into a contract to develop an AR experience for Denny's to bring their new menu to life and enhance the dining experience. As part of its new "It's Diner Time" platform, Denny's has launched an Augmented Reality (AR) menu in its 1,600+ restaurants that takes guests on a visual journey through Denny's history and features limited time special items, their ingredient story and more.

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