The Glimpse Group Reports Positive Financial Results for Q2 Fiscal Year 2025

On February 13, 2025, The Glimpse Group, Inc. (NASDAQ: VRAR) released its financial results for the second quarter of fiscal year 2025, which ended on December 31, 2024. The company reported a significant 50% increase in revenue along with positive EBITDA, cash flow, and net income.

President & CEO, Lyron Bentovim, highlighted several key financial points:

– The revenue for Q2 FY ’25 was approximately $3.17 million, marking a 52% increase compared to the revenue from Q2 FY ’24 and a 30% increase compared to Q1 FY ’25.
– The gross margin for Q2 FY ’25 stood at about 64%, slightly lower than the previous year but in the expected range of 60-70% going forward.
– The company achieved a positive adjusted EBITDA of approximately $0.28 million in Q2 FY ’25, a significant improvement from the previous year.
– The company anticipates a decline in revenue and negative adjusted EBITDA for Q3 FY ’25 but expects a strong recovery in Q4 FY ’25.

The Glimpse Group’s cash and equivalent position as of December 31, 2024, was approximately $8.5 million. The company also received notice from Nasdaq confirming compliance with the minimum bid price requirement.

In addition to financial results, The Glimpse Group shared recent business updates, including achievements in projects with the Department of Defense and the US Navy. The company continues to make progress in commercializing AI-driven immersive training products.

A conference call discussing the financial results and business updates was hosted on February 13, 2025, providing further insights into the company’s performance.

It is important to note that all financial figures and future expectations mentioned are based on the information provided as of the specified dates and are subject to change based on future developments and market conditions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read The Glimpse Group’s 8K filing here.

About The Glimpse Group

The Glimpse Group, Inc, a virtual reality (VR) and augmented reality (AR) platform company, provides enterprise-focused software, services, and solutions in the United States. It offers QReal, a software that creates and distributes photorealistic 3D interactive digital models and experiences in AR; Immersive Health Group, a VR/AR platform for evidence-based and outcome driven healthcare solutions; and Foretell Reality, a social VR platform for behavioral health, support groups, collaboration, and soft skills training.