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

QReal, a subsidiary of The Glimpse Group (NASDAQ:VRAR), has announced a partnership with Snap Inc. to provide hyper-realistic Augmented Reality (AR) content. This collaboration aims to enhance e-commerce and social media experiences through advanced 3D digital content. Mike Cadoux, General Manager of QReal, emphasized the company's role in driving AR growth for various industries. QReal is focused on improving sales and brand recognition by integrating AR into marketing strategies, targeting sectors like food, fashion, and automotive.

Pagoni VR, a subsidiary of The Glimpse Group (NASDAQ:VRAR), has been awarded U.S. Patent 11,095,947. This patent enables the sharing, processing, and streaming of user-generated content across various devices in real-time. The technology allows multiple video recording devices, such as AR smart glasses, to collaborate and create a video map of events. This innovation is pivotal as it supports immersive experiences for users through VR and AR technology. The Glimpse Group has filed 13 patent applications in total, showing a commitment to expanding its intellectual property portfolio.

The Glimpse Group (NASDAQ:VRAR) has completed a six-figure Augmented Reality (AR) software development collaboration with Swiss Chalet, a major Canadian restaurant brand. This initiative involves creating an AR experience and mini-games, enhancing customer engagement through their mobile app. The efforts aim to increase installations and user interaction, demonstrating Glimpse's innovative capabilities. Future collaborations with multiple restaurant chains are anticipated, according to Katelyn Coughlan, Glimpse's VP of Business Development.

Foretell Reality, a subsidiary of The Glimpse Group (NASDAQ: VRAR), has entered a multi-year, six-figure engagement with North-Star Care to develop VR experiences for its tele-health substance use disorder program. The collaboration aims to integrate VR tools into NSC's mobile application, enhancing remote treatment for alcohol use disorder (AUD) through immersive support environments and social interaction. The partnership showcases the potential of VR technology to transform treatment protocols while improving accessibility and engagement for patients receiving care remotely.

Adept XR, a subsidiary of Glimpse, has partnered with Edstutia to create an immersive VR campus aimed at enhancing higher education. This multiyear, six-figure agreement will see Edstutia utilize Adept XR's Elevate VR platform to develop a unique virtual learning environment scheduled to launch in October 2021. Leaders from both companies emphasized the potential of VR to transform educational experiences by moving beyond traditional learning methods.

The Glimpse Group (NASDAQ: VRAR) announced preliminary financial results for FY 2021, projecting revenues of at least $3.25 million, a 65% increase from FY 2020's $1.94 million. This organic growth occurred amidst challenging conditions due to COVID-19. Revenue from VR and AR software and services surged by over 200%, making up about 50% of total revenues. Post-IPO, the company holds approximately $13.7 million in cash, with no significant liabilities. The management expects continued growth in FY 2022, possibly enhanced by strategic acquisitions.

The Glimpse Group, Inc. (NASDAQ: VRAR) has appointed Alexander Ruckdaeschel as an independent director and Maydan Rothblum as a non-independent director. Ruckdaeschel brings over 20 years of financial industry experience, including serving on Vuzix's Board. He co-founded Herakles Capital Management and has significant startup operational experience. The addition of Ruckdaeschel and Rothblum aims to enhance the company's strategic direction and shareholder value.

The Glimpse Group, Inc. (NASDAQ: VRAR) has successfully closed its underwritten initial public offering, selling 2,012,500 shares at $7.00 per share, yielding gross proceeds of approximately $14.1 million. The offering included the full exercise of the underwriter’s over-allotment option. Trading of its common stock began on July 1, 2021, on the Nasdaq Capital Market. EF Hutton acted as the sole book-running manager for the offering. The company focuses on enterprise-focused VR and AR solutions, aiming to cultivate companies within this growing sector.

The Glimpse Group, Inc. (NASDAQ: VRAR) has announced the pricing of its initial public offering, intending to sell 1,750,000 shares at $7.00 each, aiming for gross proceeds of approximately $12.3 million. The offering includes an option for underwriters to purchase an additional 262,500 shares. Trading of VRAR is set to commence on July 1, 2021, following SEC approval. EF Hutton is the sole book-running manager for the offering. The expected closing is on or about July 6, 2021. The company focuses on providing VR and AR software and services to enterprises.