Xreality Group Limited · ASX:XRG
Xreality — Investor Presentation (February 2026)
24 slides from Xreality's investor presentation, Feb 26, 2026
Slide 1: Investor Presentation: FY26 H1 Results & Strategy Update
INVESTOR PRESENTATION FY26 H1 Results & Strategy Update 26 February 2026
Slide 2: H1FY26 Highlights
H1FY26 Highlights XRG delivers record half-year performance driven by Operator XR momentum Customer Cash $12.1m Net Ops Cashflow $3.1m Annual Recurring $6.2m Receipts Revenue ▲ 36% pcp ▲ 133% pcp ▲ 28% YTD Revenue $10.4m Deferred Revenue $12.5m Sales Pipeline $63m ▲ 41% pcp ▲ 69% pcp ▲ 107% YTD 2
Slide 3: Executive Summary
Executive Summary Company Overview • XReality Group (XRG) is a market leader in immersive Extended Reality (XR) solutions, offering both VR and AR experiences. • Current portfolio includes advanced global defence and law enforcement XR training and simulation products, and entertainment businesses i
Slide 4: H1 FY26 Financials
DRG H1 FY26 Financials
Slide 5: Profit & Loss
Profit & Loss • FY26 H1 was the strongest half for XRG since the foundation of the Profit and Loss ($m) H1’25 H1’26 Δ pcp company. Momentum has continued to increase in the USA and other Enterprise (Operator XR) 2.1 4.4 109% global markets through the Operator XR flagship product, OP-2. Entertainmen
Slide 6: Balance Sheet
Balance Sheet Strong growth in recurring / Software-linked revenue base Balance Sheet ($m) Jun-25 Dec-25 Δ pcp • Deferred revenue increased to $12.5M (current + non-current), up 69% Cash and cash equivalents 2.8 3.1 12% from $7.4M — demonstrating strong forward contracted revenue and Trade and other
Slide 7: Cashflow
Cashflow Record customer cash receipts Cash Flow ($m) H1'25 H1’26 Δ pcp • $12.1m in receipts from customers — highest level achieved to date, Receipts from customers 8.9 12.1 36% driven by strong Operator XR demand. Payments to suppliers and employees (6.7) (9.3) (39%) Grants and other income - 1.1
Slide 8: Strategy update: Operator XR
Strategy update: Operator XR 8
Slide 9: Operator XR: Overview
Operator XR: Overview Operator XR — Core Growth Engine for XRG New Sales (TCV) by Financial Year – Operator XR (A$m) 12 • Transitioned from establishment phase to growth phase. • Growing US customer base across federal, state and local agencies. 10 • Expanding military and law enforcement customer p
Slide 10: Operator XR: Market Opportunity USA LE
Operator XR: Market Opportunity USA LE Number of Agencies Tier 1 14 5,000 – 50,000 sworn officers US Law Enforcement — Core Market Entry Strategy Tier 2 • XRG is executing a structured US market entry strategy targeting law 170 500 – 5,000 sworn officers enforcement agencies based on operational sca
Slide 11: Operator XR: Market Opportunity and Global Expansion
Operator XR: Market Opportunity and Global Expansion Global Expansion Momentum • First commercial sale into Japan via APAC distribution partner, validating international demand and distributor-led growth model. 14 • Increasing engagement across APAC and European markets. • Expanding global partner n
Slide 12: OP-2 Total Addressable Market
OP-2 Total Addressable Market 1% of Global Market = US$203m ARR Total Addressable Annual Recurring Revenue (modelled potential) Market > Market Share Sensitivity (USD$m) Total 1% 3% 5% 10% 20% Market (m) Law Enforcement United States 11 32 53 106 212 1,063 Rest of the World 18 53 88 176 353 1,764 2
Slide 13: OP-CUAS Total Addressable Market
OP-CUAS Total Addressable Market 1% of Global Market = US$21m ARR Total Addressable Annual Recurring Revenue (modelled potential) Market > Market Share Sensitivity (USD$m) Total 1% 3% 5% 10% 20% Market (m) Law Enforcement United States 1 4 7 14 28 138 U.K. & Europe 1 2 3 7 13 66 2 Asia Pacific 0 1 2
Slide 14: Outlook
DRG Outlook
Slide 15: Operator XR Outlook
Operator XR Outlook XRG Focus on Operator XR Scaled Growth. Operator XR Product & Platform Expansion • Expanding integrated XR training platform across VR, AR and simulation environments for mission-critical training • Integration of AI across the Operator XR product portfolio to enhance scenario re
Slide 16: Operator XR Roadmap
Operator XR Roadmap FY23 FY24 FY25 FY26 Operational Roadmap • First US market entry • US market entry established • Strong US law enforcement • Increasing momentum in establishing credibility with dedicated sales and and defence customer the US with law operations capability adoption enforcement of
Slide 17: Company Outlook
Company Outlook Strengthening Balance Sheet & Financial Position • Balance sheet continues to strengthen, with net assets increasing to ~$14.5m and improving liquidity supporting operational scale-up. • Deferred (unearned) revenue increased significantly to ~$12.5m, demonstrating strong forward cont
Slide 18: Contact
Contact Wayne Jones Chief Executive Officer wjones@xrgroup.com.au Kim Hopwood Executive Director khopwood@xrgroup.com.au xrgroup.com.au 18
Slide 19: Disclaimer
Disclaimer This presentation has been prepared by xReality Group Limited (XRG) and provides general background information about the Company’s activities. That information is current at the date of this presentation. The information is a summary and does not purport to be complete. This presentation
Slide 20: Appendix: Operator XR
OPERATOR IXR Appendix: Operator XR
Slide 21: Key Offerings Summary
Key Offerings Summary Software • Developed in-house, the OP-2 software uses advanced multi-user networking, allowing groups of trainees in the same physical space to train in any virtual location. User Created Scenarios • Teams can quickly design mission-specific scenarios to train for real-time sit
Slide 22: The System
The System Operator XR: OP-2 for Military and Law Enforcement • Enables military to conduct virtual missions using their own specific service weapons and equipment. True integration of combat equipment for immersive near-real experience. • Law enforcement officers can train operational tactics and p
Slide 23: The Software
The Software Operator XR: OP-2 Scenario Creator Suite • Instructors can design fully customised and interactive training environments for their unique requirements. • Library of high-quality pre-built scenes and interactive props, including vehicles, forensic evidence, cover options, and everyday ob
Slide 24: Legacy Entertainment Business
Legacy Entertainment Business iFLY Indoor Skydiving XRG owns and operates two Australian indoor flying facilities under a licence agreement with the global “iFLY” Brand. iFLY Revenue ($m) 5.0 • iFLY Downunder (Sydney West): XRG’s flagship Penrith facility remains a cornerstone asset within the Enter
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