Glimpse Group Q2 revenue rises 75% YoY to $3.0M; 1H FY'23 revenue record $6.9M, up 155%

Glimpse Group, Inc.

2023-Q2 EPS reported -$0.30 revenue$2,550,000

Q2 FY'23 revenue $2.95M (+75% YoY); 1H FY'23 revenue $6.9M (+155% YoY) record.
Gross margin 70%; adjusted EBITDA loss $2.6M in Q2 and $3.6M in 1H; net income $1.31M in Q2 (non-cash gain).
Reduced annual cash expense base by ~$2.5M (15%), including 20-25% executive pay cuts; targeting cash flow neutrality in CY '23.
Cash $9.4M at Dec 31, 2022, no debt; expect Q3 FY'23 revenues to exceed Q2.
Board approved long-term incentive plan for founders: $7 exercise price, vesting on $30-100M revenue and $20-60 stock price targets.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Glimpse Group, Inc. reported the fiscal second quarter ended December 31, 2022 results: revenue approximately $3.0 million.

Period: the fiscal second quarter ended December 31, 2022
Revenue: approximately $3.0 million
Result: reported results

Exact text from the filing

ex99-1.htm Exhibit 99.1 The Glimpse Group Reports Fiscal Second Quarter 2023 Financial Results Fiscal Second Quarter FY 2023 Revenues Grew by 75% Year-over-Year to Approximately $3.0 million; Revenue for 1H FY 2023 Grew by 155% Year-over-Year to a Record of Approximately $6.9 million; Progressing Toward Goal of Achieving Cash Flow Neutrality From Existing Operations

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Source: SEC EDGAR

accession 0001493152-23-004871

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