Business
The Glimpse Group Reports Q3 Fiscal Year 2025 Financial Results
Reaffirm Revenues and Second Consecutive Quarter of Positive Cash Flow NEW YORK, NY / ACCESS Newswire / May 15, 2025 / The Glimpse Group, Inc. ("Glimpse")
About this update from The Glimpse Group, Inc.
[{"type":"text","content":"Reaffirm Revenues and Second Consecutive Quarter of Positive Cash Flow NEW YORK, NY / ACCESS Newswire / May 15, 2025 / 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 2025, ended March 31, 2025 (\"Q3 FY '25\").Business Commentary by President & CEO Lyron BentovimFinancial Summary:Q3 FY '25 revenue of approximately $1.4 million, a 25% decrease compared to Q3 FY '24 (ending March 31, 2024) revenue of approximately $1.9 million. This expected and previously discussed decrease was primarily driven by revenue recognition timing.Q4 FY '25 (ending June 30, 2025) revenue is expected to be in the $3.2-3.8 million range and profitable, as we deliver and recognize the final stage of the large Department of Defense (\"DoD\") entity's contract for Spatial Core.Last week, we received official confirmation for a new seven-figure Spatial Core deal, which we expect will be signed in the coming weeks. While the U.S. Government's Continuing Resolution and the lack of a Federal budget for 2025 has delayed the potential awarding of multiple Government and DoD opportunities, we continue to be well positioned for multiple opportunities and expect to confirm a few additional seven-figure Spatial Core opportunities in the coming months.Revenue for the nine months ended March 31, 2025 was approximately $7 million, essentially flat compared to the same nine month period last year, despite divesting and consolidating multiple subsidiary companies. For FY '25 (ending June 30, 2025), we expect revenues in the $10-11 million range, a 15-25% increase from FY '24.Gross Margin for Q3 FY ‘25 was approximately 72% compared to 70% for Q3 FY ‘24. We expect our going forward Gross Margin to be in the 65-75% range, an increase from our previous guidance due to a larger portion of revenue coming from Spatial Core and software license sales.Net Operating Cash provided from Operations in Q3 FY '25 was a positive cash gain of approximately $0.13 million, compared to a Net Operating Cash loss of approximately -$0.92 million for Q3 FY '24. This is our second consecutive positive quarter. Net Operating Cash loss from Operatio...