Glimpse Group Inc (The) SEC Filings

The Glimpse Group, Inc. reported significant leadership changes. On May 15, 2026, directors Jeff Enslin and Maydan Rothblum resigned from the Board and all committees, effective immediately, with their director terms previously scheduled to run through 2028. Rothblum also resigned as Chief Financial Officer, Chief Operating Officer, Secretary and Treasurer, and is expected to remain as an advisor to support strategy, capital markets and finance team continuity.

Lyron Bentovim notified the Board on May 15, 2026 of his resignation as Chairperson, director, President and Chief Executive Officer, effective June 15, 2026, ahead of his Class III director term expiring at the 2026 annual meeting. The company states that none of the resignations resulted from a disagreement with management, the Board or company practices. The current General Manager of subsidiary Brightline Interactive, Tyler Gates, is expected to become Chief Executive Officer and join the Board during June 2026, and the company expects to appoint a new Chief Financial Officer in the same month, though timing is not assured.

The Glimpse Group, Inc. entered into a securities purchase agreement for a registered direct offering of common stock, pre-funded warrants and common stock warrants, with expected net proceeds of approximately $1.79 million after expenses. The deal covers 622,306 shares of common stock, pre-funded warrants for up to 2,732,240 shares, and accompanying warrants to purchase up to 4,193,182 shares of common stock. Common stock units are priced at $0.55, while pre-funded warrant units are priced at $0.549. The warrants carry an exercise price of $0.55 per share for common stock warrants and $0.001 per share for pre-funded warrants, with exercises generally capped at a 9.99% beneficial ownership limit, adjustable up to 19.99%. Investors also receive rights to participate in up to 33.33% of certain future equity or equity-linked financings over the 12 months following closing.

The Glimpse Group, Inc. entered into a securities purchase agreement for a registered direct offering of common stock, pre-funded warrants and common stock warrants, with expected net proceeds of approximately $1.79 million after expenses. The deal covers 622,306 shares of common stock, pre-funded warrants for up to 2,732,240 shares, and accompanying warrants to purchase up to 4,193,182 shares of common stock. Common stock units are priced at $0.55, while pre-funded warrant units are priced at $0.549. The warrants carry an exercise price of $0.55 per share for common stock warrants and $0.001 per share for pre-funded warrants, with exercises generally capped at a 9.99% beneficial ownership limit, adjustable up to 19.99%. Investors also receive rights to participate in up to 33.33% of certain future equity or equity-linked financings over the 12 months following closing.

The Glimpse Group, Inc. is conducting a registered direct offering of 622,306 shares of common stock, pre-funded warrants to purchase up to 2,732,240 shares of common stock, and common stock warrants to purchase up to 4,193,182 shares of common stock.

The combined purchase price is $0.55 per share plus accompanying warrant (or $0.549 for each pre-funded warrant plus accompanying warrant). Net proceeds are estimated at approximately $1.79 million, before exercise of any warrants. The offering includes a 9.99% beneficial ownership exercise limit (adjustable to up to 19.99% with notice) and grants participating investors pro rata participation rights of up to 33.33% in future financings for 12 months following the closing.

The Glimpse Group, Inc. is conducting a registered direct offering of 622,306 shares of common stock, pre-funded warrants to purchase up to 2,732,240 shares of common stock, and common stock warrants to purchase up to 4,193,182 shares of common stock.

The combined purchase price is $0.55 per share plus accompanying warrant (or $0.549 for each pre-funded warrant plus accompanying warrant). Net proceeds are estimated at approximately $1.79 million, before exercise of any warrants. The offering includes a 9.99% beneficial ownership exercise limit (adjustable to up to 19.99% with notice) and grants participating investors pro rata participation rights of up to 33.33% in future financings for 12 months following the closing.

The Glimpse Group reported Q3 fiscal 2026 results and outlined a shift to become a pureplay Physical AI company centered on Brightline Interactive. The company highlighted board and executive changes and a planned capital infusion as part of this strategic transition.

For the quarter ended March 31, 2026, revenue was $657,458, down from $1,422,235 a year earlier, with software services declining sharply. A non-cash goodwill impairment of $10,857,600 drove a net loss of $12,683,231, compared with a $1,502,202 loss in the prior-year quarter.

Adjusted EBITDA loss was $1.67 million versus $1.01 million a year earlier, showing higher operating losses even after excluding non-cash items. As of March 31, 2026, cash and cash equivalents were $2,151,320, down from $6,832,725 as of June 30, 2025, and total assets declined to $3,754,517, with goodwill written off.

The Glimpse Group reported Q3 fiscal 2026 results and outlined a shift to become a pureplay Physical AI company centered on Brightline Interactive. The company highlighted board and executive changes and a planned capital infusion as part of this strategic transition.

For the quarter ended March 31, 2026, revenue was $657,458, down from $1,422,235 a year earlier, with software services declining sharply. A non-cash goodwill impairment of $10,857,600 drove a net loss of $12,683,231, compared with a $1,502,202 loss in the prior-year quarter.

Adjusted EBITDA loss was $1.67 million versus $1.01 million a year earlier, showing higher operating losses even after excluding non-cash items. As of March 31, 2026, cash and cash equivalents were $2,151,320, down from $6,832,725 as of June 30, 2025, and total assets declined to $3,754,517, with goodwill written off.

The Glimpse Group, Inc. reported sharply weaker results for the quarter ended March 31, 2026 and raised doubt about its ability to continue as a going concern. Revenue fell to $0.66M from $1.42M, a 54% decline, mainly from U.S. Department of War project funding delays and the wind down of a major social media contract.

Operating expenses surged to $13.29M, driven by a non‑cash goodwill impairment of about $10.86M related to Brightline and Glimpse Learning, leading to a quarterly net loss of $12.68M and nine‑month loss of $14.94M. Cash and cash equivalents dropped to $2.15M from $6.83M at June 30, 2025, while net cash used in operating activities was $3.47M over nine months.

Management concluded substantial doubt exists about funding operations for the next 12 months and is evaluating options such as spin‑offs, mergers, and new financings. The company also received a Nasdaq notice for failing the $1.00 minimum bid price requirement and has until September 9, 2026 to regain compliance. As of May 11, 2026, Glimpse had 21,076,506 common shares outstanding.

The Glimpse Group, Inc. reported sharply weaker results for the quarter ended March 31, 2026 and raised doubt about its ability to continue as a going concern. Revenue fell to $0.66M from $1.42M, a 54% decline, mainly from U.S. Department of War project funding delays and the wind down of a major social media contract.

Operating expenses surged to $13.29M, driven by a non‑cash goodwill impairment of about $10.86M related to Brightline and Glimpse Learning, leading to a quarterly net loss of $12.68M and nine‑month loss of $14.94M. Cash and cash equivalents dropped to $2.15M from $6.83M at June 30, 2025, while net cash used in operating activities was $3.47M over nine months.

Management concluded substantial doubt exists about funding operations for the next 12 months and is evaluating options such as spin‑offs, mergers, and new financings. The company also received a Nasdaq notice for failing the $1.00 minimum bid price requirement and has until September 9, 2026 to regain compliance. As of May 11, 2026, Glimpse had 21,076,506 common shares outstanding.

The Glimpse Group, Inc. reported a sharp revenue decline for the quarter ended December 31, 2025. Revenue fell to $1.30 million from $3.17 million a year earlier, with six‑month revenue down to $2.70 million from $5.61 million, mainly due to timing of U.S. Department of War contracts, government budget delays and runoff of legacy customers.

The company swung to a quarterly net loss of $1.23 million from near break-even income, and its six‑month net loss widened to $2.26 million. Adjusted EBITDA turned to a loss of $0.89 million for the quarter. Cash and cash equivalents were $3.34 million with no debt, and 21,076,506 shares were outstanding as of February 10, 2026. Management highlighted divestitures of non-core businesses, exploration of a potential BLI spin-off, and an expanded at‑the‑market equity program up to $9.48 million, which had not been used.

The Glimpse Group, Inc. reported Q2 fiscal 2026 results and outlined a major strategic realignment. Revenue for the quarter ended December 31, 2025 was about $1.30 million, down 59% from $3.17 million a year earlier and about 7% below the prior quarter. Gross margin was 61%. The company posted a net loss of $1.23 million, versus net income of $0.03 million in the prior-year quarter, and an adjusted EBITDA loss of $0.89 million compared with a $0.28 million gain a year ago.

Cash and equivalents were $3.34 million as of December 31, 2025, with $0.56 million in accounts receivable and no debt, convertible debt, preferred equity or contingent liabilities. Management has initiated a strategic realignment, including a potential spin-off IPO of Brightline Interactive as a separate Nasdaq-listed company, following a confidential S-1 filing in early January 2026, though completion is not guaranteed. The company is also exploring value-creation opportunities outside immersive technology and plans to change its ticker from VRAR to GGRP toward the end of February 2026.

The Glimpse Group, Inc. reported that director Lemuel Amen resigned from its board of directors, effective January 30, 2026. He was serving as a Class III director whose term was scheduled to end at the 2026 annual meeting of stockholders.

The company stated that Mr. Amen’s resignation was not due to any disagreement with the company, its management, or the board regarding operations, policies, or practices. The filing was signed by Chief Executive Officer Lyron Bentovim.

The Glimpse Group, Inc. reported a change in its independent auditor. On January 7, 2026, the company dismissed Turner, Stone & Company, L.L.P. as its independent registered public accounting firm and, on the same date, appointed GreenGrowth CPAs to that role, with both actions approved by the board’s audit committee.

For the fiscal years ended June 30, 2025 and 2024, and the subsequent interim period, The Glimpse Group and Turner Stone had no disagreements or reportable events as defined by SEC rules, and Turner Stone’s audit reports contained no adverse opinions or disclaimers. Turner Stone provided a letter to the SEC dated January 9, 2026 stating it agrees with the company’s description of these matters. The company also states it did not consult with GreenGrowth on accounting or auditing matters before the appointment in a way that influenced its decisions.

The Glimpse Group, Inc. filed a report describing an update to its at-the-market stock sales program. The company previously had the ability to sell up to $3,502,910 of common stock through WestPark Capital, Inc. as sales agent under an at-the-market (“ATM”) Sales Agreement. On January 2, 2026, the agreement was amended to increase the maximum potential common stock sales capacity to $9,478,200.

The company states that no shares have been sold to date under this ATM facility. The amendment itself is filed as an exhibit and is incorporated by reference.