Welcome to our dedicated page for Glimpse Group (The) news (Ticker: VRAR), a resource for investors and traders seeking the latest updates and insights on Glimpse Group (The) stock.
The Glimpse Group, Inc. (NASDAQ: VRAR) serves as a innovation hub in immersive technologies, and this news center provides investors with essential updates about its evolving ecosystem. Track official announcements ranging from strategic partnerships to technological breakthroughs in VR, AR, and spatial computing solutions.
This resource consolidates all material developments including earnings reports, product launches, and enterprise collaborations. Key focus areas include AI integration progress, digital twin deployments, and ecosystem expansion through subsidiary growth. Investors gain visibility into both financial performance and technological milestones shaping this emerging sector.
Content is organized for quick scanning while maintaining depth, with updates spanning operational developments, leadership changes, and market expansion efforts. Regular updates ensure stakeholders stay informed about the company's role in advancing immersive enterprise solutions across defense, education, and industrial sectors.
Bookmark this page for streamlined access to VRAR's verified announcements. Combine periodic checks with our email alert system (when available) to maintain real-time awareness of developments impacting your investment strategy in immersive technologies.
QReal, a subsidiary of The Glimpse Group, Inc. (NASDAQ:VRAR), has launched the TRYO app, a multi-brand virtual try-on platform enabling users to try on footwear, watches, hats, and eyewear using advanced Augmented Reality and photogrammetry technology. The app aims to enhance e-commerce by allowing consumers to make more confident purchasing decisions, addressing the significant issue of online purchase returns. Initial offerings include over 500 3D models from leading brands, with plans for continuous expansion.
Glimpse Group (NASDAQ:VRAR) reported a record revenue of approximately $4.0 million for Q1 FY'23, marking a 287% year-over-year increase. This performance includes two months of Brightline Interactive's financials following its acquisition. Core Software & Services revenue rose by 49% year-over-year to $1.28 million. Despite a $1.1 million adjusted EBITDA loss, the company is focused on achieving cash flow neutrality in 2023. The company maintains a clean capital structure with no debt, and its cash position stands at $13.0 million.
Brightline Interactive, a subsidiary of The Glimpse Group, is set to demonstrate its immersive tech at the I/ITSEC tradeshow from November 28 to December 2, 2022. In collaboration with AT&T, Brightline will showcase two NOVA simulator domes and mixed reality users connected through a temporary 5G network, enabling advanced multi-user training. Tyler Gates, General Manager, emphasized the shift to cloud-based computing for future immersive experiences, marking a significant advancement in how enterprises utilize content.
Sector 5 Digital (S5D), a subsidiary of The Glimpse Group, Inc. (NASDAQ: VRAR), has secured a mid-six figure agreement with a global pharmaceutical company to enhance its interactive anatomy training platform. This platform, combining 2D and 3D technologies, educates Health Care Providers (HCPs) on facial anatomy for safe product injections. The new agreement aims to add features, improving educational opportunities. Jeff Meisner, General Manager of S5D, emphasized the company's commitment to advancing immersive technology in training.
The Glimpse Group, a diversified VR and AR platform company, will announce its fiscal Q1 2023 financial results on November 14, 2022, after market close. A conference call will follow at 4:30 p.m. Eastern Time, providing a corporate update and a Q&A session. Dial-in details are provided for participants. Glimpse's unique business model supports the VR/AR industry's growth, offering investors a chance to invest through a diversified platform. The company advises that forward-looking statements may involve risks and uncertainties, affecting actual results.
The Glimpse Group (NASDAQ:VRAR) announced that its subsidiary Sector 5 Digital has secured a mid 6-figure contract for developing a 3D interactive gamified experience and NFTs for a Fortune 50 technology company's partner event. The event took place simultaneously across six regional locations in the USA and virtually, showcasing the increasing adoption of immersive technologies by leading companies. This project demonstrates Glimpse's capability to deliver complex solutions and highlights the advantages of its diversified VR and AR platform.
Glimpse Group (NASDAQ: VRAR) reported a record FY 2022 revenue of $7.3 million, achieving a 113% increase year-over-year. Revenue from Core Software & Services surged by 143%, totaling approximately $4.18 million. Q4 revenue also reached a record $2.5 million, growing 152% year-over-year. The company maintains a robust 80% gross margin and a cash position of $18.25 million. Recent acquisitions, including Sector 5 Digital and Brightline Interactive, are expected to enhance market position.
The Glimpse Group, a diversified Virtual Reality (VR) and Augmented Reality (AR) platform company, will release its financial results for fiscal year 2022, ending June 30, 2022, on September 28, 2022, after market close. Management will host a conference call at 4:30 p.m. Eastern time to discuss the results and provide an update. Key details for participation include US Dial-In at 1-877-407-9039 and International Dial-In at 1-201-689-8470. A playback will be available for 90 days, enhancing accessibility for stakeholders.
The Glimpse Group (NASDAQ: VRAR) has successfully merged with Brightline Interactive, boosting its annual revenue run rate to approximately $15 million. The merger adds an estimated $5 million in revenue and enhances Glimpse's position in the immersive technology sector. Brightline, known for VR, AR, and 5G integration, has significant contracts with major companies and government agencies. The company's acquisition strategy strengthens its customer base and patents, supporting its goal to lead in immersive technology.
The Glimpse Group (NASDAQ:VRAR) announced preliminary revenue results for Q4 and FY 2022. The company expects Q4 revenues between $2.4 million and $2.5 million, showing a year-over-year growth of approximately 2.5X. For FY 2022, total revenues are anticipated to reach $7.15 million to $7.25 million, marking a significant growth of 2.1X compared to FY 2021. The strong revenue boost is partly due to the acquisition of S5D and is expected to further increase after the upcoming Brightline Interactive transaction.
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