The Glimpse Group Reports Fiscal Year 2024 Financial Results
The Glimpse Group Reports Fiscal Year 2024 Financial Results
Transition to Spatial Core AI and Cloud Driven Revenues Gaining Traction
轉向空間核心人工智能和雲驅動收入正在獲得增長勢頭
Expect Significantly Higher Revenue In The Upcoming Quarters
預計未來幾個季度收入將顯著提高
Expect to Be Cash Flow Positive In The Upcoming Quarters Based on Signed Contracts Alone
預計僅基於已簽署合同,未來幾個季度將實現現金流爲正
Extreme Valuation Disconnect A Catalyst For Strategic Review To Maximize Shareholder Value
極端估值脫節是戰略評估的催化劑,以最大化股東價值
NEW YORK, NY / ACCESSWIRE / September 30, 2024 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR), a diversified Immersive Technology platform company providing enterprise-focused Virtual Reality ("VR"), Augmented Reality ("AR") and Spatial Computing software and services, provided financial results for its fiscal year ended June 30, 2024 ("FY'24").
NEW YORK,NY / ACCESSWIRE / 2024年9月30日 / 全景集團有限公司(「Glimpse」)(納斯達克:VRAR),一家多元化的沉浸式技術平台公司,提供以企業爲中心的虛擬現實(「VR」),增強現實(「AR」)和空間計算軟件和服務,公佈了截至2024年6月30日的財政年度財務業績(「FY'24」)
Business Commentary by President & CEO Lyron Bentovim
總裁兼CEO Lyron Bentovim的業務評論
Strategic Summary:
戰略總結:
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Spatial Core:
As discussed in previous releases, in FY '24 we strategically transitioned the Company to primarily focus its development resources on providing enterprise-scale Spatial Computing, Cloud and AI driven Immersive recurring software solutions - "Spatial Core" - led by Brightline Interactive ("BLI").
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Spatial Core Traction :
$4MM+, 12-month contract with a Department of Defense ("DoD") entity for a Spatial Computing ecosystem, integrating AI workflows and accelerated compute for a variety of defense use-cases.
Entered into a Cooperative Research and Development Agreement (CRADA) with the US Army Combat Capabilities Development Command (DEVCOM), Command, Control, Communication, Computers, Cyber, Intelligence, Surveillance and Reconnaissance (C5ISR) Center, to develop, assess and improve workflows to create and augment synthetic imagery for use in training and assessing AI and machine learning ML algorithms.
Extended partnership with a Fortune 500 government Systems Integrator (GSI) for VR Training in Digital Twin Environments to a key U.S. government agency with over 45,000 employees on a mid six figure contract.
BLI, Cesium & NVIDIA teamed up at the GEOspatial INTelligence (GEOINT) Symposium 2024 to introduce Brightline's Spatial Core which uses AI workflows for complex computations on top of real life data sets, enabling powerful real time, massive data driven, digital twin and simulation applications.
Successfully Completed the Cooperative Research and Development Agreement (CRADA) with the US Naval Surface Warfare Center, Dahlgren Division (NSWCDD) for the adaptation of immersive technologies.
Completed a contract to support a major immersive technology hardware provider to accelerate their computing interfaces into GPU-enabled cloud, with streaming and visualization capabilities.
We are in an advanced process of securing several additional multi-million dollar Spatial Core contracts with multiple Government, DoD and large enterprise customers. The short-term aggregate value for these contracts is in the $5-10 million range. While there is no guarantee that some or all of these will come to fruition, we anticipate that, subject to government annual budgeting timing, a good portion of these will be signed before yearend '24, with additional potential contract signings in CY '25.
Each of these potential contracts has significant growth elements built into them that could lead to significant annual recurring software revenue once the original contracts have been successfully performed.
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Non Spatial Core:
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We have continued the process of consolidating and pruning the rest of our business to focus on sustainable profitable growth. As a result, our other entities are generating positive momentum. For example:
In recent months, QReal has seen an increase in its revenues with Snap for AR 3D models and lenses.
Glimpse Learning entered into a two year, mid-six figure contract with the College of Staten Island CUNY ("CSI") Technology Incubator for the design, deployment and integration of a suite of immersive technologies in its new Innovation Hub. This is a cross Glimpse project, with a strong software license component
Sector 5 Digital ("S5D") entered into a 6-figure engagement with one of the world's largest architecture firms to visualize in AR the new business campus of a multinational retail company.
Foretell Reality entered into a 6-figure partnership with a large University to develop an AI-driven VR training system enabling students and trainees to learn various professional skills through conversation-centric simulations with an AI-based avatar in different immersive settings.
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空間核心:
如前幾個版本所討論的,在FY '24年,我們戰略性地將公司主要的開發資源轉移到提供面向企業規模的空間計算、雲和人工智能驅動的沉浸式經常性軟件解決方案「空間核心」上,由Brightline Interactive(「BLI」)領導。
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空間核心動力 :
與國防部門(「DoD」)簽訂了一份價值400萬美元以上的爲期12個月的合同,用於空間計算生態系統,整合人工智能工作流程和加速計算,用於各種國防用例。
與美國陸軍戰鬥能力發展指揮部(DEVCOM)的指揮、控制、通信、計算機、網絡、情報、監視和偵察中心(C5ISR中心)簽訂了一項合作研究與開發協議(CRADA),旨在開發、評估和改進工作流程,以創建和增強用於培訓和評估人工智能和機器學習算法的合成圖像。
與一家財富500強政府系統集成商(GSI)延續合作,爲數字孿生環境中的虛擬現實訓練向一家擁有超過4.5萬名員工的關鍵美國政府機構提供中等六位數的合同。
在2024年地球空間情報(GEOINT)研討會上,BLI、Cesium和NVIDIA團隊聯合推出了Brightline的空間核心,該核心利用 AI 工作流針對真實數據集進行復雜計算,實現強大的實時、大規模數據驅動、數字孿生和仿真應用。
成功完成了與美國海軍達爾格倫分部(NSWCDD)合作研究與開發協議(CRADA),以適應沉浸式技術。
已完成一項合同,以支持一家主要的沉浸式技術硬件供應商,加速他們的計算界面進入啓用GPU的雲端,並具備流媒體和可視化功能。
我們正在進行一項進階的過程,與多個政府、國防部門和大型企業客戶確保幾項額外的價值百萬美元的Spatial Core合同。這些合同的短期總價值在500-1000萬美元的區間內。儘管不能保證這些合同會全部或部分生效,但我們預計,取決於政府年度預算安排的時間,這些合同中的很大一部分將在24年年底之前簽署,同時在25年中或有更多潛在的合同簽署。
這些潛在合同中的每一項都蘊含着重要的增長要素,一旦原始合同成功執行,就可能帶來可觀的年度可重複銷售軟件收入。
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非Spatial Core:
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我們一直在加快整合和修剪我們業務的其餘部分,專注於可持續盈利增長。因此,我們的其他實體正在帶來積極的勢頭。例如:
在最近幾個月中,QReal的收入隨着AR 3D模型和鏡頭的Snap而增加。
Glimpse Learning與史泰登島CUNY大學(CSI)的技術孵化器簽訂了爲新創新中心設計、部署和整合一套沉浸式技術的兩年中等六位數合同。這是一個跨越Glimpse項目,具有強大的軟件許可組成部分。
Sector 5 Digital("S5D")與全球最大的建築公司之一簽訂了一個金額爲6位數的合作協議,用於在AR中展示多國零售公司新的商務園區。
Foretell Reality與一所大學簽訂了一個金額爲6位數的合作伙伴關係,共同開發基於人工智能驅動的VR培訓系統,使學生和實習生可以通過與基於人工智能的頭像在不同沉浸式環境中進行對話模擬學習各種專業技能。
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Financial Summary:
財務摘要:
FY '24 revenue of approximately $8.8 million, a 35% decrease compared to FY '23 revenue of approximately $13.5 million, primarily driven by: i) our strategic shift to Spatial Core which led to a turnover in our legacy customer base, which was more Immersive marketing oriented iii) consolidation and divestiture of some of our entities and iii) a general slowdown in corporate disposable spending in general and in the Immersive industry in particular.
Q4 FY '24 (April - June) quarterly revenue of approximately $1.7 million, a 41% decrease compared to Q4 FY '23 revenue of approximately $2.9 million.
Looking forward, we expect: i) revenue for Q1 FY '25 (ending September '24) to be significantly higher than Q4 FY '24 revenue, and ii) revenue for Q2 FY '25 (ending December '24) and Q3 FY '25 (ending March '25) will each exceed $3 million per quarter.
Gross Margin for FY '24 was approximately 67% compared to 68% for FY '23. We expect our Gross Margins to continue to remain in the 60-70% range.
Adjusted EBITDA loss for FY '24 was approximately $4.63 million, compared to an EBITDA loss of approximately $6.46 million for FY '23. Our current cash operating expense base (pre revenue) is approximately $1.0 million/month. Given our projected revenue for Q2 FY '25 and Q3 FY '25, we expect to generate positive cash flow in each of those two quarters based on existing contracts only and our current operating expense base.
The Company's cash and equivalent position as of June 30, 2024 was approximately $1.85 million, with an additional $0.7 million in accounts receivable. We do not intend to raise capital in the foreseeable future, especially since we expect our operations to generate positive cash and add to our cash balance between now and year-end '24
We continue to maintain a clean capital structure with no debt, no convertible debt and no preferred equity.
For the full detail of our financial results, please refer to our 8K and 10K filed on 9/30/24.
FY '24年度營業額約爲$880萬,較FY '23年度的約爲$1350萬減少了35%,主要原因是:i)我們戰略轉向Spatial Core導致舊客戶群的流失,他們更傾向於沉浸式營銷;ii)部分實體的合併和剝離;iii)總體企業可支配支出的減少以及沉浸式行業特別是在企業支出方面的放緩。
FY '24財年Q4季度(4月至6月)營業額約爲$170萬,相比FY '23財年Q4季度約爲$290萬減少了41%。
展望未來,我們預計:i)FY '25財年Q1季度(截止至'24年9月)的營業額將明顯高於FY '24財年Q4季度;ii)FY '25財年Q2季度(截止至'24年12月)和Q3季度(截止至'25年3月)的營業額每季度均將超過$300萬。
FY '24年毛利率約爲67%,較FY '23年的68%稍有下降。我們預計毛利率將繼續保持在60-70%的區間。
FY '24年調整後的EBITDA虧損約爲$463萬,相比FY '23年的約爲$646萬的EBITDA虧損有所減少。我們目前的現金營業費用基數(未計入收入)約爲每月$100萬。鑑於我們預計的FY '25財年Q2和Q3的營業額,我們預計每個季度都會僅基於現有合同和我們當前的營業費用基數實現正現金流。
截至2024年6月30日,公司的現金及等價物位置約爲185萬美元,應收帳款額外70萬美元。我們不打算在可預見的將來籌集資本,特別是因爲我們預計我們的運營將在現在和24年底之間產生正現金,並增加我們的現金餘額
我們繼續維持清晰的資本結構,沒有債務,也沒有可轉換債務和優先股權。
有關我們財務結果的完整細節,請參考我們在9/30/24提交的0.8萬和1萬。
VRAR Stock/Valuation
VRAR股票/估值
On September 3, 2024, the Company received a letter from Nasdaq notifying the Company that it no longer met the minimum bid price requirement for continued listing ($1.00/share). We have until March 3, 2025 to cure this deficiency and, if not cured by then, the Company can apply for an additional 180 day extension to cure (to approximately September 2, 2025).
The Company's receipt of the notification letter has no immediate effect on the listing of our common shares, which 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 ("SEC").
In order to regain compliance with Nasdaq, 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, a position that may change in the future.
In light of Spatial Core's AI and Cloud driven revenues with large DoD entities, our strong pipeline of revenues and our expectation to generate positive cash flows going forward, we believe that there is a sharp disconnect between our intrinsic value and our current public company valuation. As such, the Board of Directors of the Company is exploring strategic options to maximize shareholder value.
2024年9月3日,公司收到了納斯達克的一封信函,通知公司已不再符合繼續上市的最低買盤價要求(1.00美元/股)。我們有時間到2025年3月3日糾正這一缺陷,如果到那時沒有糾正,公司可以申請額外的180天延期來糾正(到2025年9月2日左右)。
公司收到通知函對我們普通股上市沒有直接影響,繼續在納斯達克交易所以「VRAR」爲代號。此外,這也不會影響公司的業務、運營或對證券交易委員會(「SEC」)的報告要求。
爲了恢復符合納斯達克的要求,公司可能考慮各種潛在措施來解決這一缺陷,例如:利用其未使用的股票回購池,內部買入和發佈重要業務發展的新聞稿,一旦這些情況確實發生。若採取任何措施,則可能有助於及時糾正該缺陷。公司目前不考慮進行股票的逆向拆股,這一立場可能會在未來發生變化。
考慮到Spatial Core的人工智能和雲驅動收入與美國國防部門的巨大潛在收入以及我們預期未來產生正現金流,我們相信公司的內在價值與當前公開公司估值之間存在明顯的脫節。因此,公司的董事會正在探索戰略選項以最大化股東價值。
Fiscal Year 2024 Conference Call and Webcast
Date: Monday, September 30, 2024
Time: 4:30 p.m. Eastern time
USA Dial In: 888-506-0062
International: 973-528-0011
Participant Access Code: 228384
Webcast:
2024財年電話會議和網絡直播
日期:2024年9月30日(星期一)
時間:東部時間下午4:30
美國撥入電話:888-506-0062
國際電話:973-528-0011
參與者接入代碼:228384
網絡直播:
Please dial in at least 10 minutes before the start of the call to ensure timely participation.
請提前至少10分鐘撥打電話以確保及時參加。
A playback of the webcast will be available through September 30, 2025. A replay of the teleconference will be available through October 14, 2024. To listen, please call USA: 877-481-4010 or International: 919-882-2331; Replay Passcode: 51301. A webcast will also be available on the IR section of The Glimpse Group website ( ir.theglimpsegroup.com ) or by clicking the webcast link above.
網絡研討會的回放將在2025年9月30日前提供。電話會議的重播將在2024年10月14日前提供。請致電美國:877-481-4010或國際:919-882-2331收聽;重播密碼:51301。您也可以在Glimpse集團網站的IR部分(ir.theglimpsegroup.com)上找到網絡研討會,或點擊上面的網絡研討會鏈接。
Note about Non-GAAP Financial Measures
有關非依據美國通用會計準則的財務指標的註釋
A non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States of America, or GAAP. Non-GAAP measures are not in accordance with, nor are they a substitute for, GAAP measures. Other companies may use different non-GAAP measures and presentation of results.
非GAAP財務指標是公司績效、財務狀況或現金流的數值度量,排除或包括通常不在依照美國通用會計準則或GAAP計算和呈現的最直接可比指標中排除或包括的金額。非GAAP指標不符合GAAP,也不是GAAP指標的替代。其他公司可能會使用不同的非GAAP指標和結果呈現方式。
In addition to financial results presented in accordance with GAAP, this press release presents adjusted EBITDA, which is a non-GAAP measure. Adjusted EBITDA is determined by taking net loss and adding interest, taxes, depreciation, amortization and stock-based compensation expenses. The company believes that this non-GAAP measure, viewed in addition to and not in lieu of net loss, provides useful information to investors by providing a more focused measure of operating results. This metric is an integral part of the Company's internal reporting to evaluate its operations and the performance of senior management. A reconciliation of adjusted EBITDA to net loss, the most comparable GAAP measure, is available in the accompanying financial tables below. The non-GAAP measure presented herein may not be comparable to similarly titled measures presented by other companies.
除依照GAAP呈現的財務結果外,本新聞稿還呈現了調整後的EBITDA,這是一個非GAAP指標。 調整後的EBITDA是通過將淨虧損加上利息、稅收、折舊、攤銷和員工股票補償費用確定的。 該公司認爲,這個非GAAP指標與淨虧損相結合(而非取代淨虧損),向投資者提供有用信息,提供更集中的運營結果度量。 這一指標是公司內部報告的一個重要組成部分,用於評估其業務運營和高級管理層的表現。 在下面的財務表中提供了調整後的EBITDA與淨虧損(最可比GAAP指標)的對應關係,此處呈現的非GAAP指標可能與其他公司呈現的同名指標不可比較。
About The Glimpse Group, Inc.
全景集團有限公司是一家提供企業級虛擬現實,增強現實和空間計算軟件和服務的多元化沉浸式技術平台公司。Glimpse的獨特商業模式提供了規模和強大的生態系統,同時爲投資者提供了一種通過多元化平台直接投資這個新興產業的機會。有關全景集團的更多信息,請訪問
The Glimpse Group (NASDAQ: VRAR) is a diversified Immersive technology platform company, providing enterprise-focused Virtual Reality, Augmented Reality and Spatial Computing software & services. Glimpse's unique business model builds scale and a robust ecosystem, while simultaneously providing investors an opportunity to invest directly into this emerging industry via a diversified platform. For more information on The Glimpse Group, please visit
Glimpse集團(納斯達克:VRAR)是一家多元化的沉浸式技術平台公司,提供面向企業的虛擬現實、增強現實和空間計算軟件與服務。 Glimpse獨特的業務模式構建規模和強大的生態系統,同時爲投資者提供直接投資於這一新興行業的機會,通過一個多元化平台。有關Glimpse集團的更多信息,請訪問
Safe Harbor Statement
Safe Harbor聲明
This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This press release may contain certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements, if provided, are based on information available to the Company as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business. Forward-looking statements, if provided, include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "view," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts, if provided, are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, any forecasts, if provided, are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
本新聞稿不構成出售或邀約購買任何實體證券的要約。本新聞稿可能包含根據我們當前的期望、預測和假設而制定的特定前瞻性陳述,涉及風險和不確定性。如果提供前瞻性陳述,則是基於公司截至本文日期可獲得的信息。由於涉及我們業務的風險和不確定性,我們的實際結果可能與此類前瞻性陳述中陳述或暗示的結果大不相同。如果提供前瞻性陳述,則包括關於我們對未來期望、信念、意圖或策略的陳述,並可通過前瞻性詞語如"預期"、"相信"、"觀點"、"可能"、"估計"、"期望"、"打算"、"可能"、"應當"和"將"或類似詞語進行識別。所有預測,如果提供,則是基於現有信息,管理層預計內部預測和期望可能隨時間變化。此外,如果提供任何預測,完全基於我們的管理層對未來財務表現的最佳估計,考慮到我們當前的合同、當前的機會積壓以及與新老客戶關於我們的產品和服務進行的談話。我們不承諾更新本新聞稿中所包含的信息,不論是出於新信息、未來事件還是其他原因。
Company Contact:
公司聯繫人:
Maydan Rothblum
CFO & COO
The Glimpse Group, Inc.
(917) 292-2685
maydan@theglimpsegroup.com
Maydan Rothblum
CFO & COO
全景集團有限公司
(917) 292-2685
maydan@theglimpsegroup.com
THE GLIMPSE GROUP, INC.
CONSOLIDATED BALANCE SHEETS
THE GLIMPSE GROUP, INC.
基本報表
As of |
As of |
|||||||
ASSETS |
||||||||
Cash and cash equivalents |
$ |
1,848,295 |
$ |
5,619,083 |
||||
Accounts receivable |
723,032 |
1,453,770 |
||||||
Deferred costs/contract assets |
170,781 |
158,552 |
||||||
Prepaid expenses and other current assets |
778,181 |
562,163 |
||||||
Total current assets |
3,520,289 |
7,793,568 |
||||||
Equipment, net |
167,325 |
264,451 |
||||||
Right-of-use assets, net |
452,808 |
627,832 |
||||||
Intangible assets, net |
487,867 |
4,284,151 |
||||||
Goodwill |
10,857,600 |
11,236,638 |
||||||
Other assets |
72,714 |
71,767 |
||||||
Total assets |
$ |
15,558,603 |
$ |
24,278,407 |
||||
LIABILITIES AND STOCKHOLDERS' EQUITY |
||||||||
Accounts payable |
$ |
181,668 |
$ |
455,777 |
||||
Accrued liabilities |
340,979 |
635,616 |
||||||
Accrued non cash performance bonus |
- |
1,041,596 |
||||||
Deferred revenue/contract liabilities |
72,788 |
466,393 |
||||||
Lease liabilities, current portion |
364,688 |
405,948 |
||||||
Contingent consideration for acquisitions, current portion |
1,467,475 |
5,120,791 |
||||||
Total current liabilities |
2,427,598 |
8,126,121 |
||||||
Long term liabilities |
||||||||
Contingent consideration for acquisitions, net of current portion |
1,413,696 |
4,505,000 |
||||||
Lease liabilities, net of current portion |
178,824 |
423,454 |
||||||
Total liabilities |
4,020,118 |
13,054,575 |
||||||
Commitments and contingencies |
||||||||
Stockholders' Equity |
||||||||
Preferred Stock, par value $0.001 per share, 20 million shares authorized; 0 shares issued and outstanding |
- |
- |
||||||
Common Stock, par value $0.001 per share, 300 million shares authorized; 18,158,217 and 14,701,929 issued and outstanding, respectively |
18,158 |
14,702 |
||||||
Additional paid-in capital |
74,559,600 |
67,854,108 |
||||||
Accumulated deficit |
(63,039,273) | (56,644,978) | ||||||
Total stockholders' equity |
11,538,485 |
11,223,832 |
||||||
Total liabilities and stockholders' equity |
$ |
15,558,603 |
$ |
24,278,407 |
截至 |
截至 |
|||||||
資產 |
||||||||
現金及現金等價物 |
$ |
1,848,295 |
$ |
5,619,083 |
||||
應收賬款 |
723,032 |
1,453,770 |
||||||
延期成本/合同資產 |
170,781 |
158,552 |
||||||
資產預付款和其他流動資產的變動 |
778,181 |
562,163 |
||||||
總流動資產 |
3,520,289 |
7,793,568 |
||||||
設備淨值 |
167,325 |
264,451 |
||||||
使用權資產,淨額 |
452,808 |
627,832 |
||||||
無形資產, 淨額 |
487,867 |
4,284,151 |
||||||
商譽 |
10,857,600 |
11,236,638 |
||||||
其他 |
72,714 |
71,767 |
||||||
總資產 |
$ |
15,558,603 |
$ |
24,278,407 |
||||
負債和股東權益 |
||||||||
應付賬款 |
$ |
181,668 |
$ |
455,777 |
||||
應計負債 |
340,979 |
635,616 |
||||||
計提的非現金績效獎金 |
- |
1,041,596 |
||||||
遞延營業收入/合同負債 |
7,2788 |
466,393 |
||||||
租賃負債,短期部分 |
364,688 |
405,948 |
||||||
收購的相關考慮,當前部分 |
1,467,475 |
5,120,791 |
||||||
流動負債合計 |
2,427,598 |
8,126,121 |
||||||
長期負債 |
||||||||
收購相關的或待定的對價,減去當前期部分 |
1,413,696 |
4,505,000 |
||||||
租賃負債,減去流動部分 |
178,824 |
423,454 |
||||||
負債合計 |
4,020,118 |
13,054,575 |
||||||
承諾和 contingencies |
||||||||
股東權益 |
||||||||
優先股每股面值0.001美元,授權發行2000萬股;0股已發行並流通 |
- |
- |
||||||
普通股每股面值0.001美元,授權發行30000萬股;分別已發行和流通18158217股和14701929股 |
18,158 |
14,702 |
||||||
額外實收資本 |
74,559,600 |
67,854,108 |
||||||
累積赤字 |
(63,039,273) | (56,644,978) | ||||||
股東權益合計 |
11,538,485 |
11,223,832 |
||||||
負債和股東權益合計 |
$ |
15,558,603 |
$ |
24,278,407 |
THE GLIMPSE GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
THE GLIMPSE GROUP, INC.
綜合損益表
June 30, |
||||||||
2024 |
2023 |
|||||||
Revenue |
||||||||
Software services |
$ |
8,130,515 |
$ |
12,587,192 |
||||
Software license/software as a service |
673,684 |
895,172 |
||||||
Total Revenue |
8,804,199 |
13,482,364 |
||||||
Cost of goods sold |
2,941,460 |
4,266,013 |
||||||
Gross Profit |
5,862,739 |
9,216,351 |
||||||
Operating expenses: |
||||||||
Research and development expenses |
5,455,612 |
8,793,991 |
||||||
General and administrative expenses |
4,292,001 |
5,037,359 |
||||||
Sales and marketing expenses |
2,819,668 |
7,489,978 |
||||||
Amortization of acquisition intangible assets |
1,241,228 |
2,045,587 |
||||||
Goodwill impairment |
379,038 |
12,855,723 |
||||||
Intangible asset impairment |
2,563,331 |
2,496,119 |
||||||
Change in fair value of acquisition contingent consideration |
(4,272,080) | (696,722) | ||||||
Total operating expenses |
12,478,798 |
38,022,035 |
||||||
Loss from operations before other income |
(6,616,059) | (28,805,684) | ||||||
Other income |
||||||||
Interest income |
221,764 |
242,401 |
||||||
Net Loss |
$ |
(6,394,295) | $ |
(28,563,283) | ||||
Basic and diluted net loss per share |
$ |
(0.38) | $ |
(2.05) | ||||
Weighted-average shares used to compute basic and diluted net loss per share |
16,681,234 |
13,929,135 |
6月30日, |
||||||||
2024 |
2023 |
|||||||
營業收入 |
||||||||
軟件服務 |
$ |
8,130,515 |
$ |
12,587,192 |
||||
軟件許可/軟件即服務 |
673,684 |
895,172 |
||||||
總收入 |
8,804,199 |
13,482,364 |
||||||
營業成本 |
2,941,460 |
4,266,013 |
||||||
毛利潤 |
5,862,739 |
9,216,351 |
||||||
營業費用: |
||||||||
研發費用 |
5,455,612 |
8,793,991 |
||||||
一般及管理費用 |
4,292,001 |
5,037,359 |
||||||
銷售及推廣費用 |
2,819,668 |
7,489,978 |
||||||
收購無形資產攤銷 |
1,241,228 |
2,045,587 |
||||||
商譽減值 |
379,038 |
12,855,723 |
||||||
無形資產減值 |
2,563,331 |
2,496,119 |
||||||
收購待支付的款項公允價值變動損失 |
(4,272,080) | (696,722) | ||||||
營業費用總計 |
12,478,798 |
38,022,035 |
||||||
其他收入前的營業虧損 |
(6,616,059) | (28,805,684) | ||||||
其他收入 |
||||||||
利息收入 |
221,764 |
242,401 |
||||||
淨虧損 |
$ |
(6,394,295) | $ |
(28,563,283) | ||||
每股基本和稀釋淨損失 |
$ |
(0.38) | $ |
(2.05) | ||||
計算基本和稀釋每股淨虧損使用的加權平均股數 |
16,681,234 |
13,929,135 |
THE GLIMPSE GROUP, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
THE GLIMPSE GROUP, INC.
綜合現金流量表
For the Year Ended June 30, |
||||||||
2024 |
2023 |
|||||||
Cash flows from operating activities: |
||||||||
Net loss |
$ |
(6,394,295) | $ |
(28,563,283) | ||||
Adjustments to reconcile net loss to net cash used in operating activities: |
||||||||
Amortization and depreciation |
1,361,628 |
2,192,982 |
||||||
Common stock and stock option based compensation for employees and board of directors |
2,175,072 |
4,974,519 |
||||||
Accrued non cash performance bonus fair value adjustment |
(551,239) | - |
||||||
Acquisition contingent consideration fair value adjustment |
(4,272,080) | (696,722) | ||||||
Impairment of intangible assets |
2,942,369 |
15,351,842 |
||||||
Gain on divestiture of subsidiary |
1,000,000 |
- |
||||||
Reserve on note received in connection with divestiture of subsidiary |
(1,000,000) | - |
||||||
Issuance of common stock to vendors |
100,372 |
5,238 |
||||||
Adjustment to operating lease right-of-use assets and liabilities |
(110,866) | (8,330) | ||||||
Changes in operating assets and liabilities: |
||||||||
Accounts receivable |
730,738 |
132,193 |
||||||
Deferred costs/contract assets |
(12,229) | 433,557 |
||||||
Prepaid expenses and other current assets |
(216,018) | (182,410) | ||||||
Other assets |
(948) | 149,963 |
||||||
Accounts payable |
(274,109) | (419,716) | ||||||
Accrued liabilities |
(294,637) | (120,181) | ||||||
Deferred revenue/contract liabilities |
(393,605) | (2,412,066) | ||||||
Net cash used in operating activities |
(5,209,847) | (9,162,414) | ||||||
Cash flow from investing activities: |
||||||||
Purchases of equipment |
(31,548) | (146,333) | ||||||
Acquisitions, net of cash acquired |
- |
(2,627,261) | ||||||
Payment of contingent consideration for acquisitions |
(1,497,894) | (1,000,000) | ||||||
Sale of investments |
- |
239,314 |
||||||
Net cash used in investing activities |
(1,529,442) | (3,534,280) | ||||||
Cash flows provided by financing activities: |
||||||||
Proceeds from securities purchase agreement, net |
2,968,501 |
- |
||||||
Proceeds from exercise of stock options |
- |
66,111 |
||||||
Cash provided by financing activities |
2,968,501 |
66,111 |
||||||
Net change in cash, cash equivalents and restricted cash |
(3,770,788) | (12,630,583) | ||||||
Cash, cash equivalents and restricted cash, beginning of year |
5,619,083 |
18,249,666 |
||||||
Cash and cash equivalents, end of year |
$ |
1,848,295 |
$ |
5,619,083 |
||||
Non-cash Investing and Financing activities: |
||||||||
Issuance of common stock for satisfaction of contingent liability |
$ |
974,646 |
$ |
3,059,363 |
||||
Issuance of common stock for non cash performance bonus |
$ |
490,357 |
$ |
- |
||||
Lease liabilities arising from right-of-use assets |
$ |
- |
$ |
429,329 |
||||
Common stock issued for acquisition |
$ |
- |
$ |
2,846,144 |
||||
Contingent acquisition consideration liability recorded at closing |
$ |
- |
$ |
7,325,000 |
||||
Common stock issued for purchase of intangible asset - technology |
$ |
- |
$ |
326,435 |
||||
Issuance of common stock for satisfaction of prior year acquisition liability |
$ |
- |
$ |
734,037 |
||||
Issuance of common stock for satisfaction of contingent liability, net of note extinguishment |
$ |
- |
$ |
318,571 |
||||
Extinguishment of note receivable for satisfaction of contingent liability |
$ |
- |
$ |
250,000 |
截至6月30日止年度 |
||||||||
2024 |
2023 |
|||||||
經營活動現金流量: |
||||||||
淨虧損 |
$ |
(6,394,295) | $ |
(28,563,283) | ||||
調整爲淨損失到經營活動現金流量淨使用: |
||||||||
攤銷和折舊 |
1,361,628 |
2,192,982 |
||||||
員工和董事會的普通股和股票期權報酬 |
2,175,072 |
4,974,519 |
||||||
應計的非現金績效獎金公平價值調整 |
(551,239) | - |
||||||
收購的有條件考慮公允價值調整 |
(4,272,080) | (696,722) | ||||||
無形資產減值損失 |
2,942,369 |
15,351,842 |
||||||
股東出售子公司收益 |
1,000,000 |
- |
||||||
與股東出售子公司相關的票據儲備 |
(1,000,000) | - |
||||||
向供應商發行普通股 |
100,372 |
5,238 |
||||||
調整營業租賃權利資產和負債 |
(110,866) | (8,330) | ||||||
經營性資產和負債變動: |
||||||||
應收賬款 |
730,738 |
132,193 |
||||||
延期成本/合同資產 |
(12,229) | 433,557 |
||||||
資產預付款和其他流動資產的變動 |
(216,018) | (182,410) | ||||||
其他 |
(948) | 149,963 |
||||||
應付賬款 |
(274,109) | (419,716) | ||||||
應計負債 |
(294,637) | (120,181) | ||||||
遞延營業收入/合同負債 |
(393,605) | (2,412,066) | ||||||
經營活動使用的淨現金流量 |
(5,209,847) | (9,162,414) | ||||||
投資活動現金流量: |
||||||||
設備購買 |
(31,548) | (146,333) | ||||||
收購,淨現金收購 |
- |
(2,627,261) | ||||||
收購有關的待償付款 |
(1,497,894) | (1,000,000) | ||||||
出售投資 |
- |
Restructuring initiatives (2) |
||||||
投資活動產生的淨現金流出 |
(1,529,442) | (3,534,280) | ||||||
融資活動產生的現金流量: |
||||||||
來自證券購買協議的淨收益 |
2,968,501 |
- |
||||||
期權行權所得款項 |
- |
66,111 |
||||||
融資活動提供的現金流量 |
2,968,501 |
66,111 |
||||||
經營性現金流淨額 |
(3,770,788) | (12,630,583) | ||||||
年初現金、現金等價物和受限制現金 |
5,619,083 |
18,249,666 |
||||||
現金及現金等價物,年末 |
$ |
1,848,295 |
$ |
5,619,083 |
||||
非現金投資和融資活動: |
||||||||
發行普通股以清償附帶義務 |
$ |
974,646 |
$ |
3,059,363 |
||||
發行普通股以換取非現金績效獎金 |
$ |
490,357 |
$ |
- |
||||
租賃負債來源於使用權資產 |
$ |
- |
$ |
429,329 |
||||
發行用於收購的普通股 |
$ |
- |
$ |
2,846,144 |
||||
在收盤時記錄的待定收購對價責任 |
$ |
- |
$ |
7,325,000 |
||||
發行普通股以購買無形資產-科技 |
$ |
- |
$ |
326,435 |
||||
發行普通股以償還往年收購責任 |
$ |
- |
$ |
734,037 |
||||
以普通股發行抵銷有息負債,扣除票據清償 |
$ |
- |
$ |
318,571 |
||||
清償應收票據以抵銷有息負債 |
$ |
- |
$ |
image_7.jpg |
The following table presents a reconciliation of net loss to Adjusted EBITDA for the three and nine months ended June 30, 2024 and 2023 (in $ million):
以下表格顯示了截至2024年和2023年6月30日三個月和九個月的淨損失與調整後的EBITDA(單位:百萬美元)之間的對比:
For the Years Ended |
||||||||
June 30, |
||||||||
2024 |
2023 |
|||||||
(in millions) |
||||||||
Net loss |
$ |
(6.39) | $ |
(28.56) | ||||
Depreciation and amortization |
1.36 |
2.19 |
||||||
EBITDA loss |
(5.03) | (26.37) | ||||||
Stock based compensation expenses |
2.28 |
4.98 |
||||||
Change in fair value of acquisition contingent consideration |
(4.27) | (0.70) | ||||||
Intangible asset impairment |
2.94 |
15.35 |
||||||
Change in fair value of accrued performance bonus |
(0.55) | - |
||||||
Acquisition related expenses |
- |
0.28 |
||||||
Adjusted EBITDA loss |
$ |
(4.63) | $ |
(6.46) |
截至年末 |
||||||||
6月30日, |
||||||||
2024 |
2023 |
|||||||
(單位百萬) |
||||||||
淨虧損 |
$ |
(6.39) | $ |
(28.56) | ||||
折舊和攤銷 |
1.36 |
2.19 |
||||||
EBITDA虧損 |
(5.03) | (26.37) | ||||||
股票報酬支出 |
2.28 |
4.98 |
||||||
收購待支付的款項公允價值變動損失 |
(-4.27) | (0.70) | ||||||
無形資產減值 |
2.94 |
15.35 |
||||||
應計業績獎金公允價值變動 |
(0.55) | - |
||||||
收購相關費用 |
- |
0.28 |
||||||
調整後的EBITDA損失 |
$ |
(4.63) | $ |
(6.46) |
SOURCE: The Glimpse Group, Inc.
來源:全景集團
譯文內容由第三人軟體翻譯。