The Glimpse (US:VRAR)2026-02-17 13:35Revenue Performance - Total revenue for the three months ended December 31, 2025, was approximately $1.30 million, a decrease of 59% compared to $3.17 million for the same period in 2024[114] - Total revenue for the six months ended December 31, 2025, was approximately $2.70 million, a decrease of 52% compared to $5.61 million for the same period in 2024[114] - Software Services revenue for the three months ended December 31, 2025, was approximately $1.18 million, a decrease of 62% compared to $3.13 million for the same period in 2024[116] - Software License revenue for the three months ended December 31, 2025, was approximately $0.10 million, an increase of 150% compared to $0.04 million for the same period in 2024[117] - Royalty income for the three months ended December 31, 2025, was approximately $0.02 million, reflecting a new revenue stream from prior subsidiary divestitures[118] Operating Expenses - Total operating expenses for the three months ended December 31, 2025, were approximately $2.02 million, a decrease of 1% compared to $2.05 million for the same period in 2024[113] - Operating expenses for the three months ended December 31, 2025 were approximately $2.05 million, an increase of 1% from $2.02 million in the same period of 2024[121] - Research and development expenses for the three months ended December 31, 2025 were approximately $0.90 million, reflecting a 36% increase from $0.66 million in the same period of 2024[122] - Sales and marketing expenses for the three months ended December 31, 2025 decreased by 20% to approximately $0.30 million from $0.38 million in the same period of 2024[124] Net Income and Cash Flow - Net loss for the three months ended December 31, 2025 was approximately $1.23 million, compared to net income of approximately $0.02 million for the same period in 2024[128] - Net cash used in operating activities for the six months ended December 31, 2025 was approximately $2.03 million, a significant increase from $0.25 million in the same period of 2024[135] - Net cash used in investing activities for the six months ended December 31, 2025 was approximately $1.52 million, compared to $0.03 million in the same period of 2024[136] - Total other income for the six months ended December 31, 2025 was approximately $0.34 million, a substantial increase from $0.04 million in the same period of 2024[127] - Cash and cash equivalents at the end of the period on December 31, 2025 were $3.34 million, a decrease of 60% from $8.44 million at the end of the same period in 2024[134] - Adjusted EBITDA loss for the three months ended December 31, 2025 was $0.89 million, compared to income of $0.28 million for the same period in 2024[133] Company Developments - Four customers accounted for approximately 81% of total gross revenues during the three months ended December 31, 2025[119] - The company entered into an At-the-Market Sales Agreement allowing for the sale of up to $9,478,200 of common stock as of January 2, 2026[111] - The company is exploring a potential spin-off of its subsidiary Brightline Interactive, Inc. to unlock shareholder value[112] Financial Position - As of December 31, 2025, the Company had no outstanding debt obligations[139] - As of December 31, 2025, the Company had no issued and outstanding preferred stock[140] - As of December 31, 2025, the Company had no outstanding contingent obligation[141] - As of the date of this filing, the ATM facility has not been utilized[142] Accounting and Risk Disclosures - Recent accounting pronouncements have been adopted, with potential impacts described in Note 2 of the financial statements[143] - Quantitative and qualitative disclosures about market risk are not required for smaller reporting companies[144]