Reported Earnings • May 16
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: US$0.60 loss per share (further deteriorated from US$0.072 loss in 3Q 2025). Revenue: US$657.5k (down 54% from 3Q 2025). Net loss: US$12.7m (loss widened US$11.2m from 3Q 2025). Revenue missed analyst estimates by 78%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 70% p.a. on average during the next 2 years, compared to a 14% growth forecast for the IT industry in the US. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Announcement • May 15
The Glimpse Group, Inc. has filed a Follow-on Equity Offering in the amount of $1.842268 million. The Glimpse Group, Inc. has filed a Follow-on Equity Offering in the amount of $1.842268 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 622,306
Price\Range: $0.55
Security Name: Pre Funded Warrants
Security Type: Equity Warrant
Securities Offered: 2,732,240
Price\Range: $0.549
Security Name: Common Warrants
Security Type: Equity Warrant
Securities Offered: 4,193,182
Transaction Features: Registered Direct Offering Announcement • May 11
The Glimpse Group, Inc. to Report Q3, 2026 Results on May 14, 2026 The Glimpse Group, Inc. announced that they will report Q3, 2026 results After-Market on May 14, 2026 Announcement • Mar 19
The Glimpse Group, Inc. Receives Notification of Non-Compliance with Nasdaq Minimum Bid Price Requirement On March 13, 2026, The Glimpse Group, Inc. (the Company) received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (Nasdaq) notifying the Company that, because the closing bid price for the Company's common stock listed on Nasdaq was below $1.00 for the prior 30 consecutive business days, the Company no longer meets the minimum bid price requirement for continued listing on the Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2), requiring a minimum bid price of at least $1.00 per share (the Minimum Bid Price Requirement). The notification has no immediate effect on the listing of the Company's common stock. In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from March 13, 2026, or until September 9, 2026, to regain compliance with the Minimum Bid Price Requirement. If at any time before September 9, 2026, the bid price of the Company's common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the Minimum Bid Price Requirement. The notification letter also disclosed that in the event the Company does not regain compliance with the Minimum Bid Price Requirement by September 9, 2026, the Company may be eligible for additional time. To qualify for additional time, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days to regain compliance. However, if it appears to the staff of Nasdaq (the Staff) that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Staff would notify the Company that its securities will be subject to delisting. The Company's receipt of the notification letter has no immediate effect on the listing of the Company's shares, which will continue to trade uninterrupted on Nasdaq under the ticker GGRP. In addition, it does not affect the Company's business, operations or reporting requirements with the Securities and Exchange Commission. In order to regain compliance with the Minimum Bid Price Requirement, the Company may consider various potential measures to resolve the deficiency. The Board of Directors of the Company will continue to explore all options to maximize shareholder value. Reported Earnings • Feb 18
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: US$0.058 loss per share (down from US$0.001 profit in 2Q 2025). Revenue: US$1.30m (down 59% from 2Q 2025). Net loss: US$1.23m (down US$1.25m from profit in 2Q 2025). Revenue missed analyst estimates by 35%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 56% p.a. on average during the next 2 years, compared to a 12% growth forecast for the IT industry in the US. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Announcement • Feb 11
The Glimpse Group, Inc. to Report Q2, 2026 Results on Feb 17, 2026 The Glimpse Group, Inc. announced that they will report Q2, 2026 results at 8:30 AM, US Eastern Standard Time on Feb 17, 2026 Reported Earnings • Nov 16
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: US$0.049 loss per share. Revenue: US$1.40m (down 43% from 1Q 2025). Net loss: US$1.03m (loss widened 1.9% from 1Q 2025). Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) exceeded analyst estimates by 17%. Revenue is forecast to grow 35% p.a. on average during the next 2 years, compared to a 12% growth forecast for the IT industry in the US. Announcement • Nov 07
The Glimpse Group, Inc. to Report Q1, 2026 Results on Nov 13, 2025 The Glimpse Group, Inc. announced that they will report Q1, 2026 results After-Market on Nov 13, 2025 Announcement • Nov 03
The Glimpse Group, Inc., Annual General Meeting, Dec 18, 2025 The Glimpse Group, Inc., Annual General Meeting, Dec 18, 2025. Location: 15 west 38th st., 4th floor, new york 10018 United States New Risk • Oct 01
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (US$34.5m market cap). Reported Earnings • Sep 30
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: US$0.13 loss per share (improved from US$0.38 loss in FY 2024). Revenue: US$10.5m (up 20% from FY 2024). Net loss: US$2.55m (loss narrowed 60% from FY 2024). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 63%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 12% growth forecast for the IT industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Announcement • Sep 19
The Glimpse Group, Inc. to Report Fiscal Year 2025 Results on Sep 30, 2025 The Glimpse Group, Inc. announced that they will report fiscal year 2025 results at 9:30 AM, US Eastern Standard Time on Sep 30, 2025 Announcement • Jul 15
The Glimpse Group, Inc. Provides Preliminary Unaudited Earnings Guidance for Fourth Quarter Ended June 30, 2025 The Glimpse Group provided preliminary unaudited earnings guidance for fourth quarter ended June 30, 2025. The Company expects total revenues for Fourth Quarter FY’25 to be approximately $3.50 million, representing: a) an increase of approximately 100% compared to revenues of $1.73 million in Fourth Quarter FY’24, and b) an increase of approximately 150% compared to revenues of $1.42 million in Third Quarter FY’25. Announcement • Jul 11
The Glimpse Group, Inc. has filed a Follow-on Equity Offering. The Glimpse Group, Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings have declined by 20% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (US$28.0m market cap). Major Estimate Revision • May 23
Consensus revenue estimates increase by 16% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from US$9.20m to US$10.7m. EPS estimate unchanged from -US$0.08 at last update. IT industry in the US expected to see average net income growth of 17% next year. Consensus price target of US$2.62 unchanged from last update. Share price rose 4.5% to US$1.40 over the past week. Reported Earnings • May 16
Third quarter 2025 earnings released Third quarter 2025 results: Net income: (up US$1.54m from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. New Risk • May 16
New major risk - Revenue and earnings growth Earnings have declined by 25% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 25% per year over the past 5 years. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$1.1m net loss next year). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (US$29.0m market cap). Announcement • May 09
The Glimpse Group, Inc. to Report Q3, 2025 Results on May 15, 2025 The Glimpse Group, Inc. announced that they will report Q3, 2025 results Pre-Market on May 15, 2025 Price Target Changed • Apr 09
Price target decreased by 44% to US$2.62 Down from US$4.67, the current price target is provided by 1 analyst. New target price is 140% above last closing price of US$1.09. Stock is down 9.2% over the past year. The company is forecast to post a net loss per share of US$0.08 next year compared to a net loss per share of US$0.38 last year. Breakeven Date Change • Apr 09
No longer forecast to breakeven The analyst covering Glimpse Group no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of US$730.0k in 2026. New forecast suggests the company will make a loss of US$940.0k in 2026. New Risk • Apr 08
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$6.5m Forecast net loss in 1 year: US$1.2m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (US$1.2m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (US$21.7m market cap). Announcement • Feb 15
The Glimpse Group, Inc. Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Full Year Ending June 30, 2025 The Glimpse Group, Inc. provided earnings guidance for the third quarter, fourth quarter and full year ending June 30, 2025. For the quarter, the company expects decline in revenue ($1.5-2 million).
For the fourth quarter, the company expects ($3.3-4.0 million revenue).
For the year, the company expects revenue to exceed $11 million, compared to $8.8 million for Fiscal Year ‘24 (ended June 30, 2024), a 25%+ increase in annual revenue. Reported Earnings • Feb 14
Second quarter 2025 earnings released: EPS: US$0.001 (vs US$0.044 loss in 2Q 2024) Second quarter 2025 results: EPS: US$0.001 (up from US$0.044 loss in 2Q 2024). Revenue: US$3.17m (up 53% from 2Q 2024). Net income: US$25.9k (up US$764.2k from 2Q 2024). Profit margin: 0.8% (up from net loss in 2Q 2024). Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the IT industry in the US. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Announcement • Feb 07
The Glimpse Group, Inc. to Report Q2, 2025 Results on Feb 13, 2025 The Glimpse Group, Inc. announced that they will report Q2, 2025 results Pre-Market on Feb 13, 2025 Board Change • Feb 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Independent Director Tamar Elkeles was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jan 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (39% average weekly change). Earnings have declined by 32% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (US$40.4m market cap). New Risk • Dec 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$4.0m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 32% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (8.8% increase in shares outstanding). Market cap is less than US$100m (US$15.3m market cap). Reported Earnings • Nov 17
First quarter 2025 earnings: EPS in line with expectations, revenues disappoint First quarter 2025 results: US$0.056 loss per share (further deteriorated from US$0.008 loss in 1Q 2024). Revenue: US$2.44m (down 22% from 1Q 2024). Net loss: US$1.01m (loss widened US$894.7k from 1Q 2024). Announcement • Nov 15
The Glimpse Group, Inc. Provides Revenue Guidance for the Fiscal Year Ending June 30, 2025 The Glimpse Group, Inc. provided revenue guidance for the fiscal year ending June 30, 2025. The company expects revenue in the next three upcoming quarters to exceed $3 million on average per quarter, and aggregate revenue for fiscal year 2025 (ending June 30, 2025) to be in the $11 million to $12 million range compared to $8.8 million for fiscal year 2024 (ended June 30, 2024), a 25% to 35% increase in annual revenue. This expected growth will be primarily driven by an increase in Spatial Core revenues, as well as potential growth in its other businesses. Announcement • Nov 12
The Glimpse Group, Inc. to Report Q1, 2025 Results on Nov 14, 2024 The Glimpse Group, Inc. announced that they will report Q1, 2025 results After-Market on Nov 14, 2024 Announcement • Oct 22
The Glimpse Group, Inc., Annual General Meeting, Dec 13, 2024 The Glimpse Group, Inc., Annual General Meeting, Dec 13, 2024. Location: 15 west 38th st., 4th fl, ny 10018, new york United States Major Estimate Revision • Oct 07
Consensus revenue estimates fall by 20% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$16.2m to US$12.9m. Forecast losses increased from -US$0.03 to -US$0.15 per share. IT industry in the US expected to see average net income growth of 12% next year. Consensus price target of US$2.65 unchanged from last update. Share price fell 7.4% to US$0.70 over the past week. Reported Earnings • Oct 01
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: US$0.38 loss per share (improved from US$2.05 loss in FY 2023). Revenue: US$8.80m (down 35% from FY 2023). Net loss: US$6.39m (loss narrowed 78% from FY 2023). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 2.7%. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 53% per year, which means it is performing significantly worse than earnings. New Risk • Sep 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$5.9m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$2.0m net loss next year). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (US$13.0m market cap). Announcement • Sep 20
The Glimpse Group, Inc. to Report Fiscal Year 2024 Results on Sep 30, 2024 The Glimpse Group, Inc. announced that they will report fiscal year 2024 results at 4:00 PM, US Eastern Standard Time on Sep 30, 2024 Announcement • Sep 10
The Glimpse Group Receives Non-Compliance Letter from Nasdaq Regarding Minimum Bid Price Requirement On September 3, 2024, The Glimpse Group, Inc. received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that, because the closing bid price for the Company's common stock listed on Nasdaq was below $1.00 for the prior 30 consecutive business days, the Company no longer meets the minimum bid price requirement for continued listing on the Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2), requiring a minimum bid price of $1.00 per share (the Minimum Bid Price Requirement"). The notification has no immediate effect on the listing of the Company's common stock. In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from September 3, 2024, or until March 3, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time before March 3, 2025, the bid price of the Company's common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the Minimum Bid Price Requirement. The notification letter also disclosed that in the event the Company does not regain compliance with the Minimum Bid Price Requirement by March 3, 2025, the Company may be eligible for additional time. To qualify for additional time, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days to regain compliance. However, if it appears to the staff of Nasdaq (the Staff") that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Staff would notify the Company that its securities will be subject to delisting. The Company's receipt of the notification letter has no immediate effect on the listing of the Company's shares, which will continue to trade uninterrupted on Nasdaq under the ticker VRAR". In addition, it does not affect the Company's business, operations or reporting requirements with the Securities and Exchange Commission. In order to regain compliance with the Minimum Bid Price Requirements, the Company may consider various potential measures to resolve the deficiency, such as: leveraging its unutilized share buyback pool, insider buying and press releases announcing significant business developments when/if those materialize. Such measures, if any are taken, may help cure the deficiency in due time. The Company is not considering a reverse stock split at this time. The Board of Directors of the Company will continue to explore all options to maximize shareholder value. Price Target Changed • Jun 27
Price target increased by 33% to US$2.65 Up from US$1.99, the current price target is provided by 1 analyst. New target price is 165% above last closing price of US$1.00. Stock is down 73% over the past year. The company is forecast to post a net loss per share of US$0.37 next year compared to a net loss per share of US$2.05 last year. Major Estimate Revision • Jun 27
Consensus revenue estimates decrease by 13%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$10.4m to US$9.10m. EPS estimate increased from -US$0.38 to -US$0.37 per share. IT industry in the US expected to see average net income growth of 13% next year. Consensus price target up from US$1.99 to US$2.65. Share price fell 9.1% to US$1.00 over the past week. Recent Insider Transactions Derivative • May 22
Chief Revenue Officer notifies of intention to sell stock Jeffrey Meisner intends to sell 69k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of May. If the sale is conducted around the recent share price of US$1.10, it would amount to US$76k. Since June 2023, Jeffrey has owned 232.90k shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • May 17
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: US$0.09 loss per share (improved from US$0.38 loss in 3Q 2023). Revenue: US$1.90m (down 48% from 3Q 2023). Net loss: US$1.54m (loss narrowed 71% from 3Q 2023). Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) exceeded analyst estimates by 10%. Revenue is forecast to grow 48% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the IT industry in the US. Announcement • May 10
The Glimpse Group, Inc. to Report Q3, 2024 Results on May 15, 2024 The Glimpse Group, Inc. announced that they will report Q3, 2024 results at 4:00 PM, US Eastern Standard Time on May 15, 2024 Board Change • May 03
High number of new directors Independent Director Tamar Elkeles was the last director to join the board, commencing their role in 2024. Announcement • Apr 30
The Glimpse Group, Inc. Announces Board Changes The Glimpse Group, Inc. has appointed Dr. Tamar Elkeles to its Board as an independent director effective April 29, 2024. Dr. Elkeles has nearly 30 years of experience in the high technology industry. She was the Chief Learning Officer at Qualcomm from 1992-2015. Afterward, she served in senior executive positions at several technology companies and investment firms. Dr. Elkeles recently served on the Board of Directors of GP Strategies Corporation, an NYSE company until its sale to Learning Technologies Group, a London Stock Exchange company. She currently serves on the Board of Directors of OpenSesame and on the Board of Advisors of the Forbes School of Business & Technology at The University of Arizona. Dr. Elkeles also serves as a strategic advisor to several start-up companies in the technology sector. She holds both an M.S. and Ph.D. in Organizational Psychology. Dr. Elkeles replaces Jeff Meisner, Glimpse's Chief Revenue Officer, who is retiring from the Board effective April 29, 2024 and is expected to retire from the Company in July 2024. Major Estimate Revision • Feb 21
Consensus revenue estimates increase by 13% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from US$9.20m to US$10.4m. Forecast losses expected to reduce from -US$0.40 to -US$0.38 per share. IT industry in the US expected to see average net income growth of 8.4% next year. Consensus price target of US$1.99 unchanged from last update. Share price rose 15% to US$1.39 over the past week. Major Estimate Revision • Feb 21
Consensus revenue estimates increase by 13% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from US$9.20m to US$10.4m. Forecast losses expected to reduce from -US$0.40 to -US$0.38 per share. IT industry in the US expected to see average net income growth of 8.4% next year. Consensus price target of US$1.99 unchanged from last update. Share price rose 17% to US$1.41 over the past week. Major Estimate Revision • Feb 21
Consensus revenue estimates increase by 13% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from US$9.20m to US$10.4m. Forecast losses expected to reduce from -US$0.40 to -US$0.38 per share. IT industry in the US expected to see average net income growth of 8.4% next year. Consensus price target of US$1.99 unchanged from last update. Share price rose 17% to US$1.41 over the past week. Reported Earnings • Feb 16
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: US$0.044 loss per share (down from US$0.095 profit in 2Q 2023). Revenue: US$2.08m (down 30% from 2Q 2023). Net loss: US$738.4k (down 156% from profit in 2Q 2023). Revenue exceeded analyst estimates by 60%. Earnings per share (EPS) also surpassed analyst estimates by 69%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 10% growth forecast for the IT industry in the US. Announcement • Feb 06
The Glimpse Group, Inc. to Report Q2, 2024 Results on Feb 14, 2024 The Glimpse Group, Inc. announced that they will report Q2, 2024 results After-Market on Feb 14, 2024 Major Estimate Revision • Jan 30
Consensus revenue estimates decrease by 23%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$11.9m to US$9.20m. EPS estimate increased from -US$0.43 to -US$0.40 per share. IT industry in the US expected to see average net income growth of 7.7% next year. Consensus price target down from US$2.73 to US$1.99. Share price fell 3.1% to US$1.25 over the past week. Announcement • Dec 17
The Glimpse Group, Inc. Announces Board Resignations Effective as of December 15, 2023, D.J. Smith and Sharon Rowlands resigned from the Board of Directors of The Glimpse Group, Inc. (the “Company”). D.J. Smith will continue in his position as the Company’s Chief Creative Officer. Mr. Smith and Ms. Rowlands’ resignations are not as a result of any disagreements with the Company on any matters relating to its operations, policies, or practices. Announcement • Nov 17
The Glimpse Group, Inc. Reports Unaudited Consolidated Impairment Charges Results for the First Quarter Ended September 30, 2023 The Glimpse Group, Inc. reported unaudited consolidated impairment charges results for the first quarter ended September 30, 2023. For the quarter, the company reported intangible asset impairment (inclusive of $379,038 goodwill impairment) of $892,929. Reported Earnings • Nov 17
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: US$0.008 loss per share (improved from US$0.40 loss in 1Q 2023). Revenue: US$3.10m (down 21% from 1Q 2023). Net loss: US$119.4k (loss narrowed 98% from 1Q 2023). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 94%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the IT industry in the US. Announcement • Nov 17
The Glimpse Group, Inc. Provides Revenue Guidance for the Second Quarter and Third Quarter of the Fiscal Year 2024 The Glimpse Group, Inc. provided revenue guidance for the second quarter and third quarter of the fiscal year 2024. For the second quarter, the company expects to have lower revenue.For the third quarter, the company expects rebound in revenue as the company begin to recognize revenue relating to its strategic shift. Announcement • Nov 08
The Glimpse Group, Inc. to Report Q1, 2024 Results on Nov 14, 2023 The Glimpse Group, Inc. announced that they will report Q1, 2024 results on Nov 14, 2023 Announcement • Oct 19
The Glimpse Group, Inc., Annual General Meeting, Dec 15, 2023 The Glimpse Group, Inc., Annual General Meeting, Dec 15, 2023, at 09:30 US Eastern Standard Time. Location: 15 West 38th St., 12th Fl New York United States Agenda: To consider and Re-elect seven directors to the Board of Directors of The Glimpse Group, Inc to serve on a classified board until their respective class term has run and their successors are duly elected and qualified or until their earlier resignation or removal; to consider and hold an advisory vote on executive compensation; to consider Ratify the appointment of Hoberman & Lesser CPA's, LLP as the independent registered public accounting firm of the Company for the fiscal year ending June 30, 2024. Reported Earnings • Sep 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: US$2.05 loss per share (further deteriorated from US$0.51 loss in FY 2022). Revenue: US$13.5m (up 86% from FY 2022). Net loss: US$28.6m (loss widened 379% from FY 2022). Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 177%. Revenue is forecast to grow 35% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the IT industry in the US. Announcement • Sep 21
The Glimpse Group, Inc. to Report Fiscal Year 2023 Results on Sep 28, 2023 The Glimpse Group, Inc. announced that they will report fiscal year 2023 results After-Market on Sep 28, 2023 Reported Earnings • May 17
Third quarter 2023 earnings released: US$0.38 loss per share (vs US$0.14 loss in 3Q 2022) Third quarter 2023 results: US$0.38 loss per share (further deteriorated from US$0.14 loss in 3Q 2022). Revenue: US$3.67m (up 79% from 3Q 2022). Net loss: US$5.22m (loss widened 198% from 3Q 2022). Reported Earnings • Feb 16
Second quarter 2023 earnings released: EPS: US$0.095 (vs US$0.14 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.095 (up from US$0.14 loss in 2Q 2022). Revenue: US$2.95m (up 75% from 2Q 2022). Net income: US$1.31m (up US$2.88m from 2Q 2022). Profit margin: 44% (up from net loss in 2Q 2022). Announcement • Feb 02
The Glimpse Group, Inc. to Report Q2, 2023 Results on Feb 14, 2023 The Glimpse Group, Inc. announced that they will report Q2, 2023 results After-Market on Feb 14, 2023 Recent Insider Transactions • Dec 29
Independent Director recently bought US$110k worth of stock On the 27th of December, Lemuel Amen bought around 38k shares on-market at roughly US$2.88 per share. This transaction amounted to 62% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$433k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 17
First quarter 2023 earnings released: US$0.40 loss per share (vs US$0.17 loss in 1Q 2022) First quarter 2023 results: US$0.40 loss per share (further deteriorated from US$0.17 loss in 1Q 2022). Revenue: US$3.95m (up 286% from 1Q 2022). Net loss: US$5.38m (loss widened 225% from 1Q 2022). Revenue is forecast to grow 59% p.a. on average during the next 2 years, compared to a 11% growth forecast for the IT industry in the US. Price Target Changed • Nov 16
Price target decreased to US$12.00 Down from US$14.00, the current price target is provided by 1 analyst. New target price is 163% above last closing price of US$4.57. Stock is down 73% over the past year. The company is forecast to post a net loss per share of US$0.74 next year compared to a net loss per share of US$0.51 last year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chief Revenue Officer & Director Jeff Meisner was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 29
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: US$0.51 loss per share (improved from US$0.84 loss in FY 2021). Revenue: US$7.27m (up 112% from FY 2021). Net loss: US$5.97m (loss narrowed 2.1% from FY 2021). Revenue missed analyst estimates by 48%. Earnings per share (EPS) also missed analyst estimates by 89%. Seeking Alpha • Aug 18
The Glimpse Group Grows Revenue From Acquisitions But Operating Losses Mount The Glimpse Group went public in June 2021, raising approximately $12.3 million in an IPO.
The firm provides a range of virtual and augmented reality software and services to organizations.
VRAR has grown revenue from a tiny base mostly due to acquisition, has generated increasing operating losses and continues to add headcount as the economy slows.
I'm on Hold for VRAR in the near term.
A Quick Take On The Glimpse Group
The Glimpse Group, Inc. (VRAR) went public in June 2021, raising approximately $12.3 million in gross proceeds from an IPO that priced at $7.00 per share.
The firm provides enterprise software and services for virtual reality and augmented reality applications.
Given VRAR’s worsening operating losses, poor Rule of 40 result and continued investment in growing the company’s expense structure despite a looming economic slowdown, I’m on Hold for VRAR over the near term.
The Glimpse Group Overview
New York, NY-based Glimpse was founded to create a VR and AR platform to deliver software and services to the enterprise market.
Management is headed by co-founder, president and CEO Lyron Bentovim, who was previously COO and CFO of Top Image Systems and of NIT Health and Cabrillo Advisors.
The company’s offering categories include:
Training & Education
Healthcare
Branding & Marketing
Retail
Financial Services
Food & Hospitality
Media & Entertainment
Social VR meetings
The company uses a "hybrid approach" to its sales and distribution efforts, with each subsidiary having its own business development and sales team while the holding company management remains actively involved in business processes and fostering collaboration between subsidiaries.
Glimpse does not develop hardware and management says that most of its software and services are compatible with all major hardware platforms.
The Glimpse Group’s Market & Competition
According to a 2021 market research report by Grand View Research, the global market for virtual reality was valued at an estimated $15.8 billion in 2020 and is expected to grow to $59 billion by 2028.
This represents a forecast CAGR of 18.0% from 2021 to 2028.
The main drivers for this expected growth are improved hardware devices and related software and services offerings by industry participants as well as a growing usage of VR technologies in training across various industry verticals.
Also, other industries are beginning to adopt these technologies, including CAD or computer aided design, healthcare services and tourism applications.
Management says major competitive or other industry participants include:
Spatial
Striver
EonReality
IrisVR
Mursion
OssoVR
Glimpse’s Recent Financial Performance
Total revenue by quarter has grown in recent quarters, but remains tiny for a public company:
5 Quarter Total Revenue (Seeking Alpha)
Gross profit by quarter has also risen significantly on a percentage basis:
5 Quarter Gross Profit (Seeking Alpha)
Selling, G&A expenses as a percentage of total revenue by quarter have varied materially in recent quarters:
5 Quarter SG&A % Of Revenue (Seeking Alpha)
Operating losses by quarter have increased substantially, as the chart shows below:
5 Quarter Operating Income (Seeking Alpha)
Earnings per share (Diluted) have remained negative over the past 5 quarters:
5 Quarter Earnings Per Share (Seeking Alpha)
(All data in above charts is GAAP)
In the past 12 months, VRAR’s stock price has fallen 20% vs. the U.S. S&P 500 index’ drop of around 2.8%, as the chart below indicates:
52 Week Stock Price (Seeking Alpha)
Valuation And Other Metrics For Glimpse
Below is a table of relevant capitalization and valuation figures for the company:
Measure [TTM]
Amount
Enterprise Value
$61,380,000
Market Capitalization
$79,660,000
Enterprise Value / Sales
10.67
Revenue Growth Rate
93.3%
Operating Cash Flow
-$3,850,000
Earnings Per Share (Fully Diluted)
-$0.83
Net Income Margin
-136.1%
(Source - Seeking Alpha)
The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.
VRAR’s most recent GAAP Rule of 40 calculation was only 2% as of FQ3 2022, so the firm needs significant improvement in this regard, per the table below:
Rule of 40 - GAAP
Calculation
Recent Rev. Growth %
93%
GAAP EBITDA %
-91%
Total
2%
(Source - Seeking Alpha)
Commentary On The Glimpse Group
In its last earnings call (Source - Seeking Alpha), covering FQ3 2022’s results, management highlighted the ‘highly variable’ nature of its expense structure, where 85% of its expenses are labor-related.
The firm inked some initial contracts with several unnamed Fortune 500 companies during the quarter. Recent Insider Transactions • Jun 14
Independent Director recently bought US$60k worth of stock On the 10th of June, Lemuel Amen bought around 15k shares on-market at roughly US$4.00 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$362k more in shares than they have sold in the last 12 months. Reported Earnings • May 18
Third quarter 2022 earnings released: US$0.14 loss per share (vs US$0.17 loss in 3Q 2021) Third quarter 2022 results: US$0.14 loss per share. Revenue: US$2.05m (up 124% from 3Q 2021). Net loss: US$1.75m (loss widened 42% from 3Q 2021). Over the next year, revenue is forecast to grow 274%, compared to a 15% growth forecast for the industry in the US. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chief Revenue Officer & Director Jeff Meisner was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chief Revenue Officer & Director Jeff Meisner was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 09
Independent Director recently bought US$66k worth of stock On the 4th of March, Lemuel Amen bought around 10k shares on-market at roughly US$6.63 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$179k more in shares than they have sold in the last 12 months. Board Change • Mar 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chief Revenue Officer & Director Jeff Meisner was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 16
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: US$0.14 loss per share (down from US$0.10 loss in 2Q 2021). Revenue: US$1.69m (up 34% from 2Q 2021). Net loss: US$1.58m (loss widened 113% from 2Q 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 299%, compared to a 20% growth forecast for the industry in the US. Reported Earnings • Nov 19
First quarter 2022 earnings released: US$0.17 loss per share (vs US$0.18 loss in 1Q 2021) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2022 results: Revenue: US$1.02m (up 293% from 1Q 2021). Net loss: US$1.66m (loss widened 30% from 1Q 2021). Recent Insider Transactions • Oct 07
Independent Director recently bought US$72k worth of stock On the 1st of October, Lemuel Amen bought around 10k shares on-market at roughly US$7.15 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$88k more in shares than they have sold in the last 12 months. Reported Earnings • Oct 01
Full year 2021 earnings released: US$0.84 loss per share (vs US$0.72 loss in FY 2020) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2021 results: Revenue: US$3.42m (up 76% from FY 2020). Net loss: US$6.09m (loss widened 22% from FY 2020). Announcement • Aug 17
The Glimpse Group, Inc. (NasdaqCM:VRAR) acquired assets from Augmented Reality Investments Pty Ltd. The Glimpse Group, Inc. (NasdaqCM:VRAR) acquired assets from Augmented Reality Investments Pty Ltd on August 13, 2021. The transaction is equity based only and includes an initial nominally dilutive issuance of common shares, with the majority of future equity based acquisition payments subject to the achievement of significant Auggd revenue growth milestones over the next three years. Matthias Krampe,is expected to move to the US to lead it as its General Manager under Glimpse. Auggd has historically been cash flow neutral-to-positive and the acquisition is expected to be immediately accretive to Glimpse.
The Glimpse Group, Inc. (NasdaqCM:VRAR) completed the acquisition of assets from Augmented Reality Investments Pty Ltd on August 13, 2021. Announcement • Jul 15
Lyron Bentovim Engages in Discussions with The Glimpse Group On July 12, 2021, Lyron Bentovim announced that he has had and anticipate having further discussions with officers of The Glimpse Group, Inc., in connection with Lyron Bentovim’s investment in the Company. Lyron Bentovim stated that the topics of these conversations will cover a range of issues, including those relating to the business of the Company, management, operations, capital allocation, asset allocation, capital or corporate structure, distribution policy, financial condition, mergers and acquisitions strategy, overall business strategy, executive compensation, and corporate governance. Announcement • Jul 14
The Glimpse Group, Inc. Provides Earning Guidance for the Fiscal Year 2021 The Glimpse Group, Inc. provided earning guidance for the fiscal year 2021. For the year the company expects total revenues for Fiscal Year 2021 to exceed $3.25 million, representing a significant year-over-year increase of over 65% compared to revenues of $1.94 million in Fiscal Year 2020. This growth was entirely organic and achieved in a challenging COVID-19 year. The Company expects to continue its rapid organic growth in Fiscal Year 2022, without taking into account additional growth driven by potential accretive acquisitions.