The Glimpse Group Q2 FY 2025 Financial Results: Revenue Surge and Positive Outlook

New York-based The Glimpse Group, Inc. reported significant financial results for Q2 FY 2025. Revenue rose to $3.17 million, marking a 52% increase compared to the same quarter of the previous year. This growth was primarily driven by an increase in Spatial Core revenues and other business segments. Despite a slight decline in gross margin to 64%, the company reported its first profitable EBITDA quarter, amounting to $0.28 million.

Cash and cash equivalents increased to $8.5 million, largely due to a $7.3 million equity financing. The quarter also marked compliance with Nasdaq's minimum bid price rule. Future projections indicate potential revenue declines for Q3 FY 2025, but with expectations of a strong Q4 FY 2025, aiming for annual revenue exceeding $11 million.

Recent business updates include a milestone completion on a $4 million+ Department of Defense contract and initial engagement with the US Navy for an immersive simulator system.