Glimpse Group Q3 revenue $1.9M (-48% YoY); net loss improves; wins $4M+ DoD contract

Glimpse Group, Inc.

2024-Q3 EPS reported -$0.15 revenue$7,076,948

Q3 FY2024 revenue $1.9M, down 48% YoY from $3.7M, due to strategic shift to Spatial Computing/Cloud/AI.
Net loss $1.54M vs $5.22M YoY, improvement of 70%; adjusted EBITDA loss $0.89M vs $1.13M.
Subsidiary Brightline Interactive entered $4M+ 12-month contract with DoD for Spatial Computing ecosystem.
Operating expenses cut 62% to $2.93M; expects cash flow positive from Sept 2024.
Cash $4.3M as of March 31, 2024; 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 0.9

Glimpse Group, Inc. reported its third quarter fiscal year 2024, ended March 31, 2024 ("Q3 FY'24") results: revenue approximately $1.9 million, net income $1.54 million.

Period: its third quarter fiscal year 2024, ended March 31, 2024 ("Q3 FY'24")
Revenue: approximately $1.9 million
Net income: $1.54 million
Result: reported results

Exact text from the filing

assets. As was previously discussed and as expected, the temporary impact of this strategic transition was lower revenue. ● Q3 FY ‘24 quarterly revenue of approximately $1.9 million, a 48% decrease compared to revenue of approximately $3.7 million in Q3 FY ‘23 which was our record revenue quarter. ● Gross Margin for Q3 FY ‘24 was approximately 70% compared

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Source: SEC EDGAR

accession 0001493152-24-019819

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