Glimpse Group Q1 FY2024 revenue $3.1M, down 22% YoY; net loss improves 98% to $0.12M

Glimpse Group, Inc.

2024-Q1 EPS reported -$0.01 revenue$3,104,880

Revenue $3.1M, down 22% from $3.95M YoY, up 7% QoQ from $2.9M; gross margin 62% vs 69%.
Net loss $0.12M vs $5.38M prior year (improvement ~98%); Adjusted EBITDA loss $1.29M vs $1.05M.
Cash $3.93M at Sep 30, plus $2.98M from Oct 3 financing; total >$6.5M, no debt.
Board authorized $2M stock buyback over 3 years but company does not expect to use it unless extreme stock moves.
Strategic shift to Spatial Computing/AI; headcount cut ~40% in past year; Q2 revenue expected lower, Q3 rebound.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Glimpse Group, Inc. reported first quarter fiscal year 2024 results: revenue approximately $3.1 million.

Period: first quarter fiscal year 2024
Revenue: approximately $3.1 million
Result: reported results

Exact text from the filing

FY’24”). Business Summary by President & CEO Lyron Bentovim Q1 FY ‘24 (July 1, 2023 – September 30, 2023) was highlighted by: ● Q1 FY ‘24 quarterly revenue of approximately $3.1 million, a 7% Q-Q increase compared to Q4 FY ‘23 revenue of approximately $2.9 million and a 22% decrease compared to the record revenue of approximately $3.95 million in Q1 FY ‘23. ●

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Source: SEC EDGAR

accession 0001493152-23-041048

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