Brightline Interactive Extends Partnership With A Large Government Systems Integrator (GSI) For Virtual Reality Training In Digital Twin Environments

Rhea-AI Summary

Brightline Interactive (BLI), a subsidiary of The Glimpse Group (NASDAQ:VRAR), has secured a mid-six-figure contract modification from a top government systems integrator (GSI) to continue providing Virtual Reality (VR) training to a key U.S. government agency with over 45,000 employees. This partnership is part of the GSI's ten-year $1.7 billion U.S. government agency contract.

BLI's interactive digital twin environment, presented in VR, features an exact replica of an electrical facility with specific agency equipment. The hands-on VR training allows engineers to learn complex systems without real-world risks, enhancing skill acquisition, reducing training costs, and minimizing downtime. Additionally, BLI is developing an enterprise immersive platform to deliver VR training and other spatial and 3D content across the agency.

Positive

• Secured mid-six-figure contract modification for VR training
• Part of a larger ten-year $1.7 billion government agency contract
• Developing an enterprise immersive platform for agency-wide use
• Reducing training costs and minimizing downtime for the customer
• Demonstrating expertise in immersive training and spatial computing

Negative

• None.

Insights

Tech Expert

This partnership extension signifies a growing adoption of VR technology in government training. The use of digital twin environments for electrical facility training is particularly noteworthy, as it allows for risk-free skill acquisition and potentially significant cost savings. The development of an enterprise immersive platform could lead to widespread implementation of VR training across the agency, indicating a long-term commitment to this technology.

The mid six-figure contract and association with a $1.7 billion government contract suggest substantial financial backing for this initiative. However, it's important to note that while promising, this represents a relatively small portion of the overall contract value. The true test will be in the scalability and effectiveness of the VR training programs in improving employee performance and reducing overall training costs.

Market Research Analyst

This contract extension aligns with the growing trend of VR adoption in enterprise training, particularly in high-stakes industries like government and defense. The market for VR training is projected to grow significantly, with some estimates suggesting a CAGR of over 30% in the coming years.

For Glimpse (NASDAQ:VRAR), this partnership reinforces their position in the government sector, which could be a stable revenue stream. However, investors should consider that government contracts can be subject to political and budgetary fluctuations. The company's ability to leverage this contract into further government partnerships will be important for long-term growth. Additionally, the development of an enterprise immersive platform could open doors to licensing opportunities beyond this specific agency, potentially creating a new revenue stream for Glimpse.

Partnership is Part Of The GSI's Ten Year $1.7 Billion U.S. Government Agency Contract

NEW YORK, NY / ACCESSWIRE / August 22, 2024 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR), 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 received a mid six figure dollar contract modification from a top government systems integrator ("GSI") to continue providing VR training to a key U.S. government agency with over 45,000 employees ("Customer").

In partnership with the GSI, which is a Fortune 500 defense, aviation, information technology, and biomedical research company, BLI has supported the Customer since July 2021, bringing expertise in immersive training, and VR development. Brightline's interactive digital twin environment, presented in VR, features an exact replica of an electrical facility with specific agency equipment rendered in photorealistic detail. The hands-on interactions built into the VR training allow engineers to learn and understand complex systems without the risk of real-world consequences, enhancing skill acquisition, reducing training costs, and minimizing downtime. In addition, BLI is working with the Customer to build an enterprise immersive platform that will deliver VR training and other spatial and 3D content across their agency.

"Our partnership with this large GSI brings innovation to the government and advances the key goals of the contract," said Tyler Gates, General Manager of Brightline Interactive and Chief Futurist of Glimpse. "This collaboration empowers the Customer to harness the full potential of immersive training, recognizing a significant return on investment by reducing the travel costs associated with traditional in-person training. The enterprise-level platform will bring benefits to agency users who use spatial assets and data to achieve their mission."

Lyron Bentovim, Glimpse's President & CEO, commented: "Brightline's partnership with the GSI and the extension of its existing contract strongly demonstrates Brightline's expertise and capabilities in immersive training and spatial computing within data-centric enterprise environments - driven by artificial intelligence, cloud compute and streamed immersive technologies."

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 modification with the government systems integrator?

Brightline Interactive has received a mid-six-figure dollar contract modification from a top government systems integrator to continue providing VR training to a key U.S. government agency.

How long has Brightline Interactive been supporting the U.S. government agency customer?

Brightline Interactive has been supporting the U.S. government agency customer since July 2021, bringing expertise in immersive training and VR development.

What are the benefits of Brightline Interactive's VR training for the government agency?

The VR training allows engineers to learn complex systems without real-world risks, enhancing skill acquisition, reducing training costs, minimizing downtime, and reducing travel costs associated with traditional in-person training.

What is Brightline Interactive developing for the government agency besides VR training?

Brightline Interactive is developing an enterprise immersive platform that will deliver VR training and other spatial and 3D content across the agency.

How does this contract extension affect The Glimpse Group's stock (NASDAQ:VRAR)?

While the specific impact on the stock is not mentioned, the contract extension demonstrates Brightline Interactive's expertise in immersive training and spatial computing, which could potentially have a positive influence on The Glimpse Group's stock (NASDAQ:VRAR).