Revenue Performance - Q1 FY '25 revenue was approximately $2.44 million, a 44% increase from Q4 FY '24 but a 21% decrease from Q1 FY '24[1][2] - The company expects average quarterly revenue to exceed $3 million in the next three quarters, with total FY '25 revenue projected between $11-12 million, representing a 25-35% increase from FY '24[2] Gross Margin and EBITDA - Gross Margin for Q1 FY '25 was approximately 79%, up from 62% in Q1 FY '24, driven by increased Spatial Core revenues[3] - Adjusted EBITDA loss for Q1 FY '25 was approximately $0.46 million, an improvement from a loss of approximately $1.29 million in Q1 FY '24[3] - Adjusted EBITDA loss improved to $(0.46) from $(1.29) year-over-year, showing a reduction in operational losses[26] Cash Flow and Expenses - The company's cash operating expense base is now less than $1.0 million per month, with expectations of generating positive cash flow in the remaining quarters[4] - Cash used in operating activities was $(425,045), a decrease from $(1,683,217) in the previous year, indicating improved cash flow management[25] - Cash and cash equivalents at the end of the period were $1,413,794, down from $3,928,836, a decline of 64.0%[25] Contracts and Divestitures - The company secured several multi-million dollar contracts in Spatial Computing, with an aggregate short-term value of $5-10 million expected[6] - The divestiture of QReal is projected to create approximately $4.0 million in net cash value over two years, including annual cash expense savings of $1.2 to $1.5 million[11] Financial Position - As of September 30, 2024, the company had approximately $1.4 million in cash and equivalents, along with $0.9 million in accounts receivable[4] - The company maintains a clean capital structure with no debt and does not intend to raise capital in the foreseeable future[5] - Total assets as of September 30, 2024, were approximately $15.17 million, a decrease from $15.56 million as of June 30, 2024[21] Operating Expenses and Losses - Total operating expenses increased to $2,957,969 from $2,094,090, representing a 41.2% increase year-over-year[23] - Net loss for the period was $1,014,192 compared to a net loss of $119,443 in the previous year, indicating a significant increase in losses[24] - Basic and diluted net loss per share was $(0.06), compared to $(0.01) in the prior year[24] Share Count and Income - Weighted-average shares used to compute basic and diluted net loss per share increased to 18,164,217 from 14,730,386, reflecting a 23.5% increase in share count[24] - Interest income decreased to $20,711 from $51,276, a drop of 59.6% year-over-year[24] Research and Development - Research and development expenses decreased to $1,120,522 from $1,680,787, a reduction of 33.3%[23] Amortization and Depreciation - Total amortization and depreciation expenses were $155,594, down from $398,923, a decrease of 60.0%[25]

Glimpse Group, Inc. (NASDAQ:VRAR) Q3 2024 Earnings Conference Call May 15, 2024 4:30 PM ET Company Participants Lyron Bentovim - Chairman & CEO Maydan Rothblum - Co-Founder, CFO, COO, Secretary, Treasurer & Non Independent Director Conference Call Participants Operator Welcome to The Glimpse Group Quarter Three Fiscal Year 2024 Financial Results Webinar. [Operator Instructions]. As a reminder, this conference is being recorded. The earnings release that accompanies this call is available on the Investors se ...

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, 2024 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) (State or other jurisdiction of incorporat ...

Exhibit 99.1 The Glimpse Group Reports Q3 Fiscal Year 2024 Financial Results NEW YORK, NY, May 15, 2024 — The Glimpse Group, Inc. ("Glimpse") (NASDAQ: VRAR, FSE: 9DR), a diversified Immersive Technology platform company providing enterprise-focused Virtual Reality ("VR"), Augmented Reality ("AR") and Spatial Computing software and services, provided financial results for its third quarter fiscal year 2024, ended March 31, 2024 ("Q3 FY'24"). Business Summary by President & CEO Lyron Bentovim ● Earlier today, ...

The Glimpse Group, Inc. (NASDAQ:VRAR) Q2 2024 Earnings Conference Call February 14, 2024 4:30 PM ET Company Participants Lyron Bentovim – President and Chief Executive Officer Maydan Rothblum – Chief Financial Officer and Chief Operating Officer Conference Call Participants Casey Ryan – WestPark Operator Welcome to the Glimpse Group Q2 Fiscal Year 2024 Financial Results Webinar. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a ...

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, 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 o ...

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]