UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40556 THE GLIMPSE GROUP, INC. (Exact name of registrant as specified in its charter) Nevada 81-2958271 (State or other juri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 001-40556 THE GLIMPSE GROUP, INC. (IRS Employer Identification No.) 15 West 38th St, 12th Fl, New York, NY 10018 10018 (Address of prin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40556 THE GLIMPSE GROUP, INC. (Exact name of registrant as specified in its charter) Nevada 81-2958271 (State or other jurisdicti ...

Financial Data and Key Metrics Changes - For Q2 FY 2023, the company generated revenue of approximately $3 million, representing a 75% growth compared to Q1 FY 2022 revenues of approximately $1.7 million [5] - For the first half of FY 2023, the company achieved record revenue of approximately $6.9 million, reflecting a 155% growth compared to $2.7 million for the same period last year [5][25] - Gross profit for Q2 FY 2023 was approximately 70%, down from approximately 88% in Q2 FY 2022, driven by the addition of lower-margin subsidiaries [26] - Net income for Q2 FY 2023 was positive $1.31 million, compared to a net loss of $1.57 million in the same period last year, marking a positive change of $2.88 million [27] - Adjusted EBITDA loss for Q2 FY 2023 was $2.58 million, compared to a loss of $0.81 million in Q2 FY 2022 [30] Business Line Data and Key Metrics Changes - The integration of recent acquisitions, Brightline Interactive and Sector 5 Digital, has led to strong momentum with significant customers in government and defense sectors [6] - The company is focused on cost efficiencies, having reduced operational cash expenses by approximately $2.5 million annually, representing about 15% of the annual operating cost base [8] Market Data and Key Metrics Changes - The company has built an impressive roster of global customers across various industries, including a six-figure contract with Airbus and a paid engagement with Walmart for a virtual experience [15][16] - The company is actively pursuing relationships with multiple major Department of Defense agencies for potential contracts [19] Company Strategy and Development Direction - The company aims to achieve cash flow neutrality in calendar year 2023 through a combination of revenue growth and additional cost cuts as needed [9][32] - The strategic focus includes embedding AI capabilities in XR software products and integrating blockchain for e-commerce applications [14] Management's Comments on Operating Environment and Future Outlook - The management acknowledges the challenging macro and business environment but highlights positive developments and key goals achieved during the quarter [34] - The immersive technology industry is still in its early stages, and the company is well-positioned to capitalize on future opportunities [36] Other Important Information - The company ended the quarter with approximately $9.4 million in cash and equivalents, with no debt or convertible debt obligations [31][32] - A long-term incentive plan for executive founders was authorized, based on achieving significant annual revenues and stock price growth targets [22] Q&A Session Summary Question: Visibility into DoD contracts and impact on cash flow neutrality - Management is conservative in assumptions regarding DoD contracts and does not factor them into achieving cash neutrality in 2023 [38] Question: Potential for additional sales or cost reductions - Management indicated flexibility on both cost management and investment in R&D and sales and marketing to balance achieving cash flow neutrality [39] Question: Thoughts on third-party hardware producers - Management views hardware companies as partners, as they enable customers to utilize the company's software solutions [41]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40556 THE GLIMPSE GROUP, INC. (Exact name of registrant as specified in its charter) Nevada 81-2958271 (State or other juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 001-40556 THE GLIMPSE GROUP, INC. (Exact name of registrant as specified in its charter) Nevada 81-2958271 (State or other jurisdiction ...

Financial Data and Key Metrics Changes - The company achieved record revenue of approximately $2.05 million for Q3 fiscal year 2022, a 123% increase compared to $0.92 million in Q3 fiscal year 2021 and a 21% increase from the previous record of $1.69 million in Q2 fiscal year 2022 [10][11] - Total revenue for the nine months ended March 31, 2022, was approximately $4.8 million, a 95% increase from $2.4 million for the same period in 2021 [11] - The company reported a net loss of $1.8 million for Q3 fiscal year 2022, compared to a net loss of $1.2 million in the prior year, reflecting a 42% increase in losses [16] Business Line Data and Key Metrics Changes - Core services revenue increased by over 170% compared to the same periods in fiscal 2021, comprising over 50% of total revenue [3] - Software services revenue for Q3 fiscal year 2022 was approximately $1.9 million, a 156% increase from $0.8 million in Q3 fiscal year 2021 [12] - Non-project revenue accounted for approximately 58% of total revenues for Q3 fiscal year 2022, up from 47% in the same quarter of the previous year [14] Market Data and Key Metrics Changes - The company noted strong customer traction and entered into new paid customer agreements with several Fortune 500 companies, indicating a growing market presence [4][5] - The company is focusing on the integration of augmented reality (AR) applications into corporate workflows, driven by marketing strategies targeting younger generations [28] Company Strategy and Development Direction - The company aims to capitalize on the growth opportunities in the immersive technology sector, with a focus on strategic acquisitions and partnerships [5][22] - The integration of Sector 5 Digital (S5D) is progressing well, with numerous opportunities for collaboration with existing subsidiaries [43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to weather potential economic challenges due to a strong balance sheet and controlled cash burn rate [19][22] - The company anticipates strong revenue growth into 2023, driven by increasing adoption of immersive technologies and blockchain [22] Other Important Information - The company ended the fiscal quarter with approximately $20 million in cash, including $2 million held in escrow for potential future performance payments related to the S5D acquisition [18] - The company has a clean capital structure with no debt or preferred equity, allowing for flexibility in operations [4][19] Q&A Session Summary Question: Insights on enterprise augmented reality market - Management noted that the integration of private 5G networks is crucial for the growth of augmented reality applications in corporate settings, particularly for marketing purposes [28] Question: Relationship between Metaverse, NFTs, and blockchain - Management highlighted that blockchain technology will play a key role in the Metaverse, providing currency, identity verification, and asset management through NFTs [30][31] Question: M&A pipeline and interesting acquisition targets - Management confirmed ongoing advanced conversations with multiple companies for potential acquisitions, focusing on creating value for shareholders [33] Question: Integration of Sector 5 Digital - The integration of S5D into the Glimpse ecosystem has been successful, with collaborative opportunities already being explored [43]

PART I FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=4&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS%20(Unaudited)) The unaudited financial statements for March 31, 2022, reflect significant asset and revenue growth from acquisitions and capital raises, alongside a wider net loss [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) The balance sheet significantly expanded by March 31, 2022, with total assets growing to $39.3 million and stockholders' equity turning positive Consolidated Balance Sheet Highlights (in USD) | Account | March 31, 2022 (Unaudited) | June 30, 2021 (Audited) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $18,043,040 | $1,771,929 | | Goodwill | $13,155,723 | $0 | | Intangible assets, net | $3,371,842 | $0 | | **Total assets** | **$39,302,187** | **$3,221,040** | | **Liabilities & Equity** | | | | Total current liabilities | $3,220,133 | $2,339,037 | | Total liabilities | $10,329,033 | $4,392,818 | | Total stockholders' equity (deficit) | $28,973,154 | $(1,171,778) | | **Total liabilities and stockholders' equity (deficit)** | **$39,302,187** | **$3,221,040** | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) The company reported strong revenue growth for the three and nine months ended March 31, 2022, but also widening net losses due to increased operating expenses Consolidated Statements of Operations (Unaudited, in USD) | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | Nine Months Ended March 31, 2022 | Nine Months Ended March 31, 2021 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | **$2,052,328** | **$914,779** | **$4,764,863** | **$2,434,551** | | Gross Profit | $1,681,829 | $320,188 | $4,036,723 | $1,156,644 | | Total operating expenses | $4,058,331 | $1,582,459 | $9,385,407 | $4,351,340 | | **Net Loss** | **$(1,751,613)** | **$(1,230,188)** | **$(4,983,768)** | **$(3,248,600)** | | Basic and diluted net loss per share | $(0.14) | $(0.17) | $(0.44) | $(0.45) | [Consolidated Statements of Stockholders' Equity (Deficit)](index=7&type=section&id=Consolidated%20Statements%20of%20Stockholders%27%20Equity%20(Deficit)) Stockholders' equity significantly improved from a $1.17 million deficit to a $28.97 million surplus by March 31, 2022, driven by IPO and private placement proceeds - Total stockholders' equity increased from a deficit of **$(1.17 million)** on July 1, 2021, to a positive balance of **$28.97 million** on March 31, 2022[18](index=18&type=chunk) - Key drivers for the increase in equity were net proceeds of **$11.8 million** from the Initial Public Offering and **$13.6 million** from a Securities Purchase Agreement[18](index=18&type=chunk) [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash and cash equivalents increased by **$16.27 million** for the nine months ended March 31, 2022, primarily from financing activities, offset by operating and investing uses Cash Flow Summary for the Nine Months Ended March 31 (in USD) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(3,679,714) | $(1,037,420) | | Net cash used in investing activities | $(6,524,982) | $(17,109) | | Net cash provided by financing activities | $26,475,807 | $2,423,457 | | **Net change in cash and cash equivalents** | **$16,271,111** | **$1,368,928** | | Cash and cash equivalents, end of period | $18,043,040 | $2,403,774 | [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail the company's VR/AR business, strengthened liquidity from capital raises, key accounting policies, and significant acquisitions and financing events - The company operates as a Virtual (VR) and Augmented (AR) Reality company with a portfolio of **twelve wholly-owned operating subsidiaries**[25](index=25&type=chunk) - Management believes existing cash of approximately **$17.0 million** is sufficient to meet cash requirements for at least twelve months from the financial statement issuance date[32](index=32&type=chunk) - Significant customer concentration exists, with **three customers accounting for 61% of revenue in Q3 2022** and **two customers accounting for 59% of revenue in the nine months ended March 31, 2022**[41](index=41&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=ITEM%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management discusses the company's VR/AR platform, significant transactions, and financial performance, noting strong revenue growth and improved liquidity despite increased operating expenses and a wider net loss [Overview](index=27&type=section&id=Overview) The company operates as a diversified Virtual (VR) and Augmented (AR) Reality platform through twelve wholly-owned subsidiaries providing enterprise-focused solutions - The Glimpse Group is a VR and AR platform company with **twelve wholly-owned subsidiaries** focused on enterprise software, services, and solutions[151](index=151&type=chunk)[152](index=152&type=chunk) [Significant Transactions](index=28&type=section&id=Significant%20Transactions) Key transactions included a July 2021 IPO, a November 2021 private placement, the February 2022 S5D acquisition, and the March 2022 forgiveness of a $0.62 million PPP loan - **IPO:** Completed on July 1, 2021, raising net proceeds of **$11.82 million**[153](index=153&type=chunk) - **Private Placement:** Sold common stock and warrants in November 2021 for net proceeds of approximately **$13.6 million**[154](index=154&type=chunk) - **S5D Acquisition:** Acquired Sector 5 Digital, LLC on February 1, 2022, with an initial payment of **$4.0 million** in cash and **~0.28 million** shares of common stock[155](index=155&type=chunk) - **PPP Loan Forgiveness:** A **$0.62 million** Paycheck Protection Program loan was forgiven in full on March 22, 2022[156](index=156&type=chunk) [Results of Operations](index=28&type=section&id=Results%20of%20Operations) Revenue significantly increased for both the quarter and nine-month period ended March 31, 2022, driven by acquisitions and organic growth, with improved gross profit margins despite higher operating expenses leading to a wider net loss Revenue Breakdown (in millions USD) | Revenue Type | Q3 2022 | Q3 2021 | % Change | 9M 2022 | 9M 2021 | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Software Services | $1.92 | $0.75 | 156% | $4.34 | $2.13 | 104% | | Software License/SaaS | $0.13 | $0.17 | -24% | $0.43 | $0.31 | 39% | | **Total Revenue** | **$2.05** | **$0.92** | **123%** | **$4.77** | **$2.44** | **95%** | Gross Profit Performance (in millions USD) | Metric | Q3 2022 | Q3 2021 | 9M 2022 | 9M 2021 | | :--- | :--- | :--- | :--- | :--- | | Gross Profit | $1.68 | $0.33 | $4.04 | $1.16 | | Gross Profit Margin | 82% | 36% | 85% | 48% | - Operating expenses increased **157%** for the third quarter and **116%** for the nine-month period, driven by headcount additions, public company costs, and expenses from three new subsidiaries[167](index=167&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity significantly improved by March 31, 2022, with **$18.0 million** in cash, primarily from **$26.47 million** in financing activities, and no outstanding debt - As of March 31, 2022, the company had cash and cash equivalents of **$18.0 million** and no outstanding debt[186](index=186&type=chunk) - Net cash provided by financing activities was **$26.47 million** for the nine months ended March 31, 2022, primarily from the IPO and a private placement[185](index=185&type=chunk) - Management believes the company is sufficiently funded to meet its operational plan and obligations beyond the next 12 months[187](index=187&type=chunk) [Non-GAAP Financial Measures](index=32&type=section&id=Non-GAAP%20Financial%20Measures) The company's Adjusted EBITDA loss widened to **$1.11 million** for Q3 2022 and **$2.54 million** for the nine-month period, reflecting increased expenses for growth and acquisitions Reconciliation of Net Loss to Adjusted EBITDA (in millions USD) | Metric | Q3 2022 | Q3 2021 | 9M 2022 | 9M 2021 | | :--- | :--- | :--- | :--- | :--- | | Net loss | $(1.75) | $(1.23) | $(4.98) | $(3.25) | | **Adjusted EBITDA (loss)** | **$(1.11)** | **$(0.50)** | **$(2.54)** | **$(0.82)** | [Quantitative and Qualitative Disclosures about Market Risk](index=34&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) This section is not required for smaller reporting companies - Disclosure is not required for smaller reporting companies[189](index=189&type=chunk) [Controls and Procedures](index=34&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management concluded that the company's disclosure controls and internal control over financial reporting were effective as of March 31, 2022, with no material changes - Management concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[191](index=191&type=chunk) - Based on an evaluation using the COSO framework, management concluded that internal control over financial reporting was effective as of March 31, 2022[194](index=194&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=35&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) The company reported no legal proceedings - None[197](index=197&type=chunk) [Risk Factors](index=35&type=section&id=ITEM%201A.%20RISK%20FACTORS) There have been no material changes to the risk factors previously disclosed in the Annual Report on Form 10-K for the year ended June 30, 2021 - There have been no material changes to the risks described in the Annual Report on Form 10-K for the year ended June 30, 2021[198](index=198&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) During the three months ended March 31, 2022, the company issued **1,529 shares** of Common Stock for consulting services, exempt from registration - The Company issued an aggregate of **1,529 shares** of Common Stock for consulting services during the three months ended March 31, 2022[199](index=199&type=chunk) [Exhibits](index=35&type=section&id=ITEM%206.%20EXHIBITS) This section lists the exhibits filed as part of the Quarterly Report on Form 10-Q, including CEO and CFO certifications and Inline XBRL documents - The report includes exhibits such as CEO/CFO certifications (31.1, 31.2, 32.1) and Inline XBRL files (101 series)[205](index=205&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40556 THE GLIMPSE GROUP, INC. (Exact name of registrant as specified in its charter) Nevada 81-2958271 (State or other juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40556 THE GLIMPSE GROUP, INC. (Exact name of registrant as specified in its charter) Nevada 81-2958271 (State or other juri ...