The Glimpse (US:VRAR)2021-08-23 18:31Company Overview - The Glimpse Group operates 10 VR/AR subsidiary companies focused on different industry verticals[8] - The company anticipates revenues exceeding $3.25 million in FY '21, demonstrating an 84% CAGR over the past 3 years[8] - The Glimpse Group raised $23 million to date, primarily through common shares[8] Market and Strategy - The VR/AR industry is projected to grow to over $35 billion by 2023, with a 49% projected CAGR in 2021-23[16] - The company's strategy is based on three core tenets: ecosystem, economies of scale, and diversification[27] - The Glimpse Group aims to leverage its position to add VR/AR companies accretively[25] Financial Highlights - The company has a strong cash position with $13 million in cash[49] - The company has $1.8 million in contracted backlog[49] - The company's IPO on July 1, 2021, generated gross proceeds of approximately $14.1 million[51]