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- **Revenue Decline**: Q1 FY26 revenue down 43% YoY to $1.4M, driven by contract delays and government shutdowns.
- **Brightline IPO Push**: Strategic focus on spinning off Brightline as a pure-play spatial computing company, with potential H1 2026 IPO.
- **Foretell AI Momentum**: Immersive AI product seeing enterprise adoption in education/healthcare, targeting core revenue contribution.
- **Financial Resilience**: 72% gross margin, $5.56M cash with no debt, though EBITDA loss widened to $0.92M.
- **No Future Guidance**: Management refrains from providing FY26 revenue outlook due to uncertainty.

**【CEO Summary Section】**
- **Strategic Progress on Brightline IPO**: Initiated process to spin off Brightline Interactive as a standalone AI-driven spatial computing company, targeting a potential IPO in H1 2026. Brightline secured a multimillion-dollar contract with the Department of War (DoW) and is in advanced discussions for additional DoW contracts, though delayed by government shutdowns.
- **Foretell AI Growth**: Immersive AI simulation product gaining traction in education and healthcare, with accelerating enterprise license renewals. Aims to become a core revenue driver.
- **Other Contracts**: Signed mid-6-figure contracts with a major oil service company for 3D brand environments and animations.

**【CFO Financial Commentary】**
- **Revenue Performance**: Q1 FY26 revenue $1.4M (-43% YoY) due to contract timing and government delays. Gross margin improved to 72% (vs. 68% prior), with guidance of 65-75% range.
- **Financial Health**: Adjusted EBITDA loss $0.92M (vs. $0.46M prior). Cash position $5.56M with no debt. Breakeven at $10M annual revenue (FY25 level).
- **No Guidance**: With multiple moving parts, management declined to provide FY26 revenue outlook.

**【Q&A Highlights】**
- No questions submitted during the call session.

The Glimpse Group, Inc.(VRAR)-20251114-2026 Q1 Earnings call transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

VRAR

VRAR fundamentals

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