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The Glimpse Group, Inc. - VRAR STOCK NEWS

Welcome to our dedicated page for The Glimpse Group news (Ticker: VRAR), a resource for investors and traders seeking the latest updates and insights on The Glimpse Group stock.

The Glimpse Group, Inc. (NASDAQ: VRAR, FSE: 9DR) is a pioneering enterprise in the burgeoning field of Virtual Reality (VR) and Augmented Reality (AR). Designed to foster innovation, Glimpse Group operates as a diversified platform, empowering a multitude of VR and AR software and service companies. This unique structure addresses the complexities faced by entrepreneurs while offering investors a direct avenue into the immersive technology sector.

The Glimpse Group supports its portfolio companies through funding, management of business operations, and leveraging a broad network of professional relationships. This streamlined approach allows entrepreneurs to focus on their core missions, thus maximizing their productivity and resource allocation.

One of the recent highlights includes Sector 5 Digital (S5D), a wholly-owned subsidiary, which secured a six-figure contract with a leading global architecture firm to visualize a new business campus using AR technology. S5D’s immersive experience includes AR navigation, photo-realistic lenses, and interactive 360-degree content. These advancements could potentially extend to Virtual Reality and Mixed Reality, further enriching the user experience.

The company's commitment to growth is also evident in its financial health. Glimpse Group recently announced its financial results for the first quarter of the fiscal year 2024, showcasing a robust performance. They are also notable for their strategic partnerships, including a significant $4 million contract with a Department of Defense entity through their subsidiary Brightline Interactive. This project aims to create a spatial computing ecosystem integrating AI workflows for defense applications.

The Glimpse Group’s business model not only scales efficiently but also creates a comprehensive ecosystem that benefits both entrepreneurs and investors. Their innovative approach has positioned them as leaders in immersive technology, offering services that span marketing, communications, training, and simulation through VR and AR.

For more information, you can visit their website at www.theglimpsegroup.com.

Stay updated with their developments through their latest news:

  • February 14, 2024: Q2 FY'24 Financial Results
  • May 15, 2024: Q3 FY'24 Financial Results
  • Various strategic partnerships and project announcements.
Rhea-AI Summary

The Glimpse Group, Inc. (NASDAQ:VRAR) will announce its Q3 Fiscal Year 2024 financial results on May 15, 2024. The company offers immersive technology platform services like VR, AR, and Spatial Computing. The conference call will discuss financial results and provide a corporate update.

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The Glimpse Group, Inc. appoints Dr. Tamar Elkeles, a veteran technology executive, to its Board of Directors as an independent director. Dr. Elkeles brings nearly 30 years of high technology industry experience and replaces Jeff Meisner, Glimpse's Chief Revenue Officer. Her appointment signifies the company's focus on leveraging immersive technologies in enterprise, corporate, and educational markets for growth and expansion.

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The Glimpse Group, Inc. (VRAR) reported Q2 FY'24 financial results with a focus on securing multi-million dollar contracts, revenue decline, cost reduction, and strategic shift to Spatial Computing. Quarterly revenue decreased by 29% to $2.1 million, with a gross margin of 68%. Adjusted EBITDA loss was $1.3 million, reflecting operational expense reductions. The company aims for a cash breakeven point of $3 million per quarter. Operating expenses increased by 165% to $2.23 million due to strategic shifts. Net loss was $0.74 million for the quarter. The company had cash and cash equivalents of $5.22 million as of December 31, 2023.
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The Glimpse Group, Inc. will release financial results for its second quarter fiscal year 2024 on February 14, 2024. The company provides enterprise-focused Virtual Reality, Augmented Reality, and Spatial Computing software and services. Management will host a conference call to discuss financial results, provide a corporate update, and conclude with a Q&A session.
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QReal, a subsidiary of The Glimpse Group, Inc. (NASDAQ: VRAR, FSE: 9DR), has completed a paid engagement to create an interactive SNAP AR Lens in partnership with KillaBears and M7 Innovations. The lens has shown exceptional initial activations, leveraging SNAP's IGLD technology to offer purchasable upgrades for customizing an ultra-realistic Killabears Digital Avatar, resulting in 96% activation rate, 222,000 lens views, 214,000 activations, 1,200 shares, and 69,085 long plays, all achieved without paid media.
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The Glimpse Group, Inc. (NASDAQ:VRAR)(FSE:9DR) reported Q1 FY'24 financial results, highlighting $3.1 million quarterly revenue, a 7% Q-Q increase, and a 22% decrease compared to Q1 FY'23. The company is making a strategic shift to Spatial Computing, Cloud and AI driven Immersive software solutions, and expects to announce significant contracts soon. Q2 FY'24 is expected to have lower revenue, but a rebound is anticipated in Q3 FY'24. The company's Gross Margin for Q1 FY'24 was approximately 62%, and it expects Gross Margins to remain in the 60-70% range. The company's Adjusted EBITDA loss for Q1 FY'24 was approximately $1.29 million. The Board of Directors authorized the Company to enter into a common share repurchase plan of up to $2 million. The total revenue for the three months ended September 30, 2023, was approximately $3.10 million, reflecting a general slowdown in the Immersive technology industry.
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The Glimpse Group, Inc. will release financial results for its First Quarter Fiscal Year 2024 on November 14, 2023, followed by a conference call to discuss the results and provide a corporate update.
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Sector 5 Digital, a subsidiary of The Glimpse Group, has entered into a 6-figure engagement with a major architecture firm to develop an Augmented Reality visualization of a multinational retail company's new business campus.
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The Glimpse Group, Inc. has been selected for the Deloitte Technology Fast 500™ for its rapid growth in the Immersive Technology industry. Glimpse's revenues grew by approximately 640% from Fiscal Year 2019-2022. Since their IPO in July 2021, their revenues have grown by approximately 4X.
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The Glimpse Group reported a revenue growth of 85% in FY '23, reaching approximately $13.5 million. The company reduced its cash operating expense base by $5 million, aiming for cash flow profitability in Q2 FY '23. The company also entered into an agreement to sell approximately 1.89 million shares of common stock for $3 million. The strategic repositioning focuses on immersive software solutions driven by spatial computing, cloud, and AI. The company is realigning its subsidiary companies and exploring strategic alternatives for them. QReal entered into a software license with Yves Rocher, while SpearXR entered into an agreement with a major consumer packaged goods company. The company's cash position as of June 30, 2023, was approximately $5.6 million.
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FAQ

What is the current stock price of The Glimpse Group (VRAR)?

The current stock price of The Glimpse Group (VRAR) is $2.47 as of December 31, 2024.

What is the market cap of The Glimpse Group (VRAR)?

The market cap of The Glimpse Group (VRAR) is approximately 44.9M.

What is The Glimpse Group, Inc.?

The Glimpse Group, Inc. is a diversified platform company focused on Virtual Reality (VR) and Augmented Reality (AR) software and services, designed to cultivate companies in the emerging VR/AR industry.

What services does The Glimpse Group offer?

The Glimpse Group provides enterprise-focused VR, AR, and Spatial Computing software and services, including marketing, communications, training, and simulation.

Who are the subsidiaries of The Glimpse Group?

One of the notable subsidiaries is Sector 5 Digital, which specializes in immersive content development and recently secured a major AR visualization project.

What recent achievements has The Glimpse Group announced?

Recent achievements include significant financial performance in Q1 FY'24 and a $4 million contract with a Department of Defense entity for a spatial computing ecosystem.

How does The Glimpse Group support its portfolio companies?

The Glimpse Group supports its portfolio companies by providing funding, managing business operations, and leveraging a strong network of professional relationships.

What are the financial highlights of The Glimpse Group?

The Glimpse Group recently announced strong financial results for the first quarter of FY 2024, reflecting robust growth and strategic initiatives.

What is the business model of The Glimpse Group?

The business model of The Glimpse Group focuses on building a scalable and comprehensive ecosystem that supports VR and AR companies while providing investment opportunities in this emerging field.

How can I stay updated with The Glimpse Group’s news?

You can stay updated by visiting The Glimpse Group’s website at www.theglimpsegroup.com and following their announcements and financial updates.

What is the significance of the recent contract with the Department of Defense?

This contract is significant as it involves creating a spatial computing ecosystem for defense applications, integrating AI workflows and advanced computing capabilities.

What future projects are planned by The Glimpse Group?

Future projects may include expanding AR and VR capabilities, developing new immersive technologies, and forming strategic partnerships to enhance their service offerings.
The Glimpse Group, Inc.

Nasdaq:VRAR

VRAR Rankings

VRAR Stock Data

44.89M
14.31M
23.4%
17.34%
1.98%
Software - Infrastructure
Services-computer Programming Services
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United States of America
NEW YORK