Glimpse Group Inc (The) Stock Price, News & Analysis

The Glimpse Group (NASDAQ:VRAR) reported preliminary Q1 FY 2022 revenues of approximately $1.0 million, marking a significant 300% year-over-year growth from $0.26 million in Q1 FY 2021. Core software and services revenue grew by 500%, representing about 80% of total revenues. The company attributes its growth largely to organic expansion, despite minor revenue delays caused by COVID-19. Management expressed confidence in the company's strong position within the growing VR/AR sector, particularly following their IPO in July 2021.

QReal, a subsidiary of The Glimpse Group (NASDAQ:VRAR), has appointed Ege Islekel as Creative Manager. Islekel, known for his work with Facebook's Spark AR, has designed over 100 branded AR Instagram effects, garnering significant views. His expertise will enhance QReal's AR content creation for various industries, including e-Commerce and retail. General Manager Mike Cadoux emphasized Islekel's potential to strengthen QReal's position in the growing enterprise AR market, responding to increasing demand from customers and partners.

The Glimpse Group, Inc. (NASDAQ:VRAR) will present at the LD Micro Main Event from October 12-14, 2021 in Los Angeles, California. CEO Lyron Bentovim will deliver a keynote on "How the Metaverse will Transform Business" on October 12, 2021, at 9:00 PM Eastern. Additional details include a live audio webcast and one-on-one investor meetings throughout the conference. The company focuses on VR and AR solutions, aiming to cultivate the emerging industry while offering investors a diversified platform.

The Glimpse Group, Inc. (NASDAQ:VRAR) announced the acquisition of XR Terra, an EdTech company focused on training XR professionals, with an expected closing on October 1, 2021. XR Terra generated approximately $0.5 million in its first year, primarily from B2C revenues. This asset acquisition, structured primarily in equity, aims to enhance Glimpse's offerings by leveraging B2B relationships. Hakan Satiroglu, founder of XR Terra, will continue as General Manager and join Glimpse's executive team. The acquisition is expected to be accretive and aligns with Glimpse's strategic growth objectives in the XR market.

The Glimpse Group (NASDAQ:VRAR) reported a 76% increase in total revenues, reaching approximately $3.42 million for FY 2021, exceeding prior estimates. Core software and services revenue saw a remarkable 239% growth, contributing $1.73 million. Despite challenges from COVID-19, the company achieved an improved gross profit margin of approximately 57%, up from 42%. The net loss increased to $6.09 million, largely due to IPO-related expenses. The company is focused on strategic acquisitions and innovative patent developments to enhance its position in the AR/VR market.

NEW YORK, NY / ACCESSWIRE / September 23, 2021: The Glimpse Group, Inc. (NASDAQ:VRAR) will hold a virtual non-deal roadshow webinar on October 6, 2021, at 11:00 a.m. ET. During the event, management will provide an overview of the company's business model and discuss growth strategies. Participants can access the presentation via a webcast and engage in a Q&A session. Dial-in numbers and a replay option will be available thereafter. The Glimpse Group is focused on developing a diversified VR and AR platform for enterprise solutions.

The Glimpse Group, Inc. (NASDAQ:VRAR) will release its fiscal year 2021 financial results on September 28, 2021, after market close. A conference call will follow at 4:30 p.m. Eastern time to discuss the results and corporate updates. Interested participants can join using the provided dial-in information. Glimpse specializes in Virtual Reality and Augmented Reality software and services, aiming to cultivate companies in the VR/AR sector. The call will also be available for playback after the event, with a link to the webcast provided.

The Glimpse Group (NASDAQ:VRAR) has been added to the Russell Microcap Index as of September 20, 2021. This inclusion provides Glimpse automatic membership in corresponding growth and value style indexes, enhancing its visibility among investors. The company aims to build a leading enterprise-focused platform in Virtual Reality and Augmented Reality sectors. This milestone follows their recent IPO and Nasdaq listing, showcasing their commitment to strategic growth in the immersive technologies market.

The Glimpse Group, Inc. (NASDAQ:VRAR) has appointed Si Yang as the General Manager of its subsidiary, D6 VR, LLC (D6VR), specializing in VR-based software solutions for data analytics and collaboration. Yang brings extensive experience from the Federal Reserve Bank of NY and Deutsche Bank. The transition aims to bolster D6VR's focus on business development in Finance, Education, and Big Data. This strategic move aligns with the growing demand for effective remote work solutions in an increasingly data-driven world.