Brightline Interactive Enters into an Agreement with the U.S. Navy for an Immersive, AI-Driven Simulator System

Rhea-AI Summary

The Glimpse Group (NASDAQ:VRAR) announced that its subsidiary Brightline Interactive (BLI) has secured a six-figure contract with the U.S. Navy to deliver an Immersive Simulator in the first half of 2025. The system integrates AI and Spatial Computing through BLI's SpatialCore platform, offering enhanced realism and adaptability for training and operations. The technology promises a more cost-effective solution with a smaller form factor compared to existing advanced simulators.

Positive

• Secured new six-figure contract with U.S. Navy
• Product delivery scheduled for first half of 2025
• Offers cost-effective solution compared to existing simulators

Negative

• None.

Insights

Defense Technology Analyst

The U.S. Navy contract represents a strategic advancement in military simulation technology. The six-figure contract for BLI's SpatialCore-powered simulator signifies the military's growing investment in AI-integrated training solutions. The system's reduced form factor and cost-effectiveness address critical pain points in military training infrastructure, where space and budget constraints often limit deployment capabilities.

The integration of AI with spatial computing for full motion simulation marks a technological leap that could reshape military training paradigms. Current military simulators typically cost millions and require extensive facilities - this solution's smaller footprint and lower price point could enable wider deployment across training facilities. The Q2 2025 delivery timeline aligns with the Department of Defense's increasing focus on modernizing training systems through emerging technologies.

Financial Analyst

For a company with a market cap of $53.7M, securing a six-figure contract with the U.S. Navy represents a meaningful revenue opportunity and validates their technology in the demanding defense sector. While the exact contract value isn't disclosed, military contracts often lead to expanded opportunities through:

• Potential follow-on orders if the technology proves successful
• Enhanced credibility for securing additional government contracts
• Opportunities to adapt the technology for other military branches

The timing of revenue recognition in H1 2025 provides near-term visibility. However, investors should note that government contracts can face delays and additional compliance requirements. The deal's strategic value exceeds its immediate financial impact, potentially positioning Glimpse for larger defense sector opportunities.

NEW YORK, NY / ACCESSWIRE / December 19, 2024 / 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 that its subsidiary company Brightline Interactive, LLC ("BLI") has entered into an initial six figure dollar contract with the U.S. Navy for an Immersive Simulator, to be delivered in the first half of 2025.

Tyler Gates, General Manager of BLI and Chief Futurist of Glimpse, commented: "Powered by BLI's cutting-edge spatial computing platform ("SpatialCore"), we have created a game-changing technology that pushes the boundaries of what's possible via the integration of AI and Spatial Computing. The Immersive Simulator system seamlessly integrates AI into both the full motion simulation and the spatial computing environments in which they operate, offering unparalleled realism, responsiveness, and adaptability, thereby opening up new possibilities for training, development, and operations across various industries in a cost-effective manner and much smaller form factor compared to existing advanced simulators."

Lyron Bentovim, President and CEO of Glimpse, commented: "In partnership with the US Navy, we believe that the Immersive Simulator represents a key milestone in the world of advanced simulation technology, building on the momentum around Brightline's vision for the SpatialCore platform."

About Brightline Interactive

Brightline Interactive (BLI) is the global leader in spatial computing, immersive technologies, deep tech and 5G integration. Brightline's accelerated computing platform - SpatialCore - provides cloud-centric synthetic data simulation, digital twins, XR and AI tools for both government and commercial customers. Brightline implements a layered production and business development approach to partnerships, scaled growth and data virtualization. For more information, please visit www.brightlineinteractive.com

About The Glimpse Group, Inc.

The Glimpse Group (NASDAQ:VRAR)(FSE:9DR) is a diversified Immersive technology platform company, providing enterprise-focused Virtual Reality, Augmented Reality and Spatial Computing software & services. Glimpse's unique business model builds scale and a robust ecosystem, while simultaneously providing investors an opportunity to invest directly into this emerging industry via a diversified platform. For more information on The Glimpse Group, please visit www.theglimpsegroup.com

Safe Harbor Statement

This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This press release may contain certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements, if provided, are based on information available to the Company as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business. Forward-looking statements, if provided, include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "view," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts, if provided, are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, any forecasts, if provided, are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Brightline Interactive Contact:

Tyler Gates
General Manager, Brightline Interactive
Chief Futurist, The Glimpse Group
Tyler@brightlineinteractive.com

Glimpse Contact:

Maydan Rothblum

CFO & COO
The Glimpse Group, Inc.
917-292-2685
maydan@theglimpsegroup.com

SOURCE: The Glimpse Group, Inc.

View the original press release on accesswire.com

FAQ

What is the value of Brightline Interactive's contract with the U.S. Navy for VRAR?

The contract is valued in the six-figure dollar range, though the exact amount was not disclosed in the announcement.

When will Brightline Interactive deliver the Immersive Simulator system to the U.S. Navy?

The Immersive Simulator system is scheduled for delivery in the first half of 2025.

What technology powers the new VRAR Immersive Simulator for the U.S. Navy?

The Immersive Simulator is powered by Brightline Interactive's SpatialCore platform, integrating AI and Spatial Computing technologies.

What advantages does the VRAR Immersive Simulator offer compared to existing simulators?

The system offers greater cost-effectiveness and a smaller form factor compared to existing advanced simulators, while providing enhanced realism, responsiveness, and adaptability.