The Glimpse (US:VRAR)2025-09-30 13:32Financial Data and Key Metrics Changes - Fiscal year 2025 revenue was approximately $10.5 million, a 20% increase compared to fiscal year 2024 revenue of approximately $8.8 million, primarily driven by an increase in SpatialCore revenues [14] - Q4 fiscal year 2025 revenue was approximately $3.5 million, a 105% increase compared to Q4 fiscal year 2024 revenue of approximately $1.7 million, and a 150% increase compared to Q3 fiscal year 2025 revenue of approximately $1.4 million [15] - Gross margin for fiscal year 2025 was approximately 67.5%, consistent with 67% for fiscal year 2024, and is expected to remain in the 65% to 75% range [15][16] Business Line Data and Key Metrics Changes - Brightline Interactive (BLI) is identified as the main growth engine, focusing on advanced spatial computing and AI-driven operational simulation middleware software [5][10] - BLI achieved several critical milestones, including a $4+ million contract for a unified synthetic training ecosystem for a major Department of Defense entity [7] - BLI has a robust pipeline of potential customers in the U.S. Department of Defense and enterprise sectors, including oil and gas and aviation [10] Market Data and Key Metrics Changes - The company has established significant relationships with major customers across various industries, indicating a strong market presence [5] - The U.S. Department of Defense is highlighted as a primary market, with additional opportunities in education and healthcare being explored [22] Company Strategy and Development Direction - The company plans to spin out Brightline Interactive to maximize shareholder value and enhance its growth potential as an independent entity [12] - The strategy includes maintaining a clean capital structure with no debt and focusing on high-margin software sales [16] - The company aims to aggressively pursue growth opportunities while minimizing public communications during the transition period [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future revenue growth, expecting fiscal year 2026 revenue to exceed fiscal year 2025 revenue, despite potential revenue recognition timing challenges [15] - The management acknowledged the complexity and slow nature of U.S. Department of Defense contracting but remains confident in the growth potential of Brightline Interactive [10][12] Other Important Information - The company achieved annual cash flow neutrality for the first time in its history, marking a significant turnaround [4] - The company maintains a clean balance sheet with approximately $6.85 million in cash and equivalents as of June 30, 2025 [16] Q&A Session Summary Question: What are the primary opportunities for BLI? - Management indicated that BLI's opportunities are primarily in defense, with some exploration into education and healthcare through other subsidiaries [20][22] Question: What is the expected timeframe for the spin-off of BLI? - Management expects to initiate the spin-off process in the coming weeks, aiming for completion early in 2026 [23][33] Question: Will there be a name change for Brightline Interactive post-spin-off? - Management confirmed that there are no plans for a name change, as Brightline has a strong brand presence [26] Question: Will the company have sufficient cash to operate without additional needs? - Management affirmed that the current cash position is sufficient for operations [34]