secwatch.observer — SEC 8-K summary
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Issuer:     Glimpse Group, Inc. (GGRP)
CIK:        0001854445
Form:       8-K
Filed at:   2024-11-14T23:59:59+00:00
Accession:  0001493152-24-045826
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glimpse Q1 revenue $2.44M, adj EBITDA loss narrows; divests QReal, guides FY'25 rev $11-12M
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- Revenue $2.44M, down 21% YoY but up 44% QoQ; gross margin 79% vs 62% YoY.
- Adjusted EBITDA loss $0.46M vs $1.29M YoY; cash $1.4M, no debt.
- Guides FY'25 revenue $11-12M (25-35% YoY growth) and expects positive cash flow in remaining quarters.
- Divested QReal (Oct 1) for ~$4M net cash value, $1.2-1.5M annual savings, 60 fewer employees.
- Pipeline of multi-million dollar Spatial Core contracts ($5-10M); confirmations expected Dec '24/early '25.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854445/000149315224045826/0001493152-24-045826-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854445/000149315224045826/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-045826

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer