Glimpse Group Q2 FY2024 revenue falls 29% to $2.08M; net loss $0.74M; adjusted EBITDA loss narrows to $1.33M

Glimpse Group, Inc.

2024-Q2 EPS reported -$0.05 revenue$5,181,305

Revenue Q2 FY2024 $2.08M, down 29% YoY from $2.95M; six-month revenue $5.18M, down 25%.
Gross margin 68% vs 70% YoY; decline driven by higher contractor costs on project revenue.
Net loss $0.74M vs prior-year net income $1.31M (included non-cash gain); six-month net loss $0.86M vs $4.07M.
Adjusted EBITDA loss narrowed to $1.33M from $2.60M; cash expenses reduced ~50% from high; cash breakeven ~$3M/quarter.
Cash and equivalents $5.22M as of Dec 31, 2023; no corporate debt or preferred equity.

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 0.95

Glimpse Group, Inc. reported its quarter ended December 31, 2023 ("Q2 FY '24") results: revenue approximately $2.08 million, net income Net loss of $0.74 million.

Period: its quarter ended December 31, 2023 ("Q2 FY '24")
Revenue: approximately $2.08 million
Net income: Net loss of $0.74 million
Result: reported results

Exact text from the filing

Total revenue for the three months ended December 31, 2023 was approximately $2.08 million compared to approximately $2.95 million for the three months ended December 31, 2022, a decrease of 29%.

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Source: SEC EDGAR

accession 0001493152-24-006604

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