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what it is
The Glimpse Group sells virtual and augmented reality software and services to businesses that want training, healthcare, and event tools in 3D.
how it gets paid
Last year The Glimpse made $11M in revenue. corporate training was the main engine at $3.1M, or 28% of sales.
why it's growing
Revenue grew 19.6% last year. The 108% revenue jump mattered most because Glimpse needs scale more than anything else.
what just happened
Revenue hit $3M in the latest quarter, up 108% vs. prior year, but the company still lost money.
At a glance
C++ balance sheet — some cracks in the foundation
-$0.13 fy2025 eps est
$11M fy2025 rev est
26.0% operating margin
1.5 beta
xvary composite: 32/100 — weak
What they do
The Glimpse Group sells virtual and augmented reality software and services to businesses that want training, healthcare, and event tools in 3D.
Its edge is breadth, not dominance. Glimpse runs a portfolio model across immersive tech categories, and with just 40 employees, you are betting that shared overhead can support multiple niche products faster than standalone shops. That matters because revenue reached $11 million in fiscal 2025, up 19.6% vs. prior year, in a market that is still early and fragmented.
How they make money
$11M
annual revenue · their business grew +19.6% last year
corporate training
$3.1M
healthcare
$2.4M
government & defense
$2.0M
education
$1.9M
retail, media & events
$1.6M
The products that matter
vr/ar software studio
Brightline Interactive
planned spin-out · h1 2026
Management plans to spin this unit out in H1 2026, and with the whole parent worth about $13M, that single event carries outsized weight.
main catalyst
portfolio of software studios
Portfolio Studios
~$11M annual revenue
These studios generate the roughly $11M revenue base, but the group still posted a $0.89M adjusted EBITDA loss in the latest quarter.
current business
Key numbers
26.0%
operating margin
Operating margin → money left after running the business → so what: Glimpse is still burning cash as it grows.
+19.6%
annual growth
Revenue growth → sales increase from last year → so what: demand is improving, but growth still has not outrun the losses.
66.6%
gross margin
Gross margin → what is left after direct delivery costs → so what: the product mix can support profits if overhead stops eating everything.
5/100
price stability
Price stability → how calm the stock tends to trade → so what: this shares a zip code with mood swings, not sleep.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for GGRP right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $3M in the latest quarter, up 108% vs. prior year, but the company still lost money.
Gross margin was 66.6%, which is healthy for a software-heavy model. The problem is overhead still overwhelms that margin, leaving EPS at -$0.11.
$3M
revenue
$0.11
eps
66.6%
gross margin
the number that mattered
The 108% revenue jump mattered most because Glimpse needs scale more than anything else, and this quarter at least showed real top-line acceleration.
source: company earnings report, 2026
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What could go wrong
the #1 risk is Brightline Interactive failing to spin out at an attractive valuation.
med
Spin-out execution failure
The planned Brightline IPO in H1 2026 is the main thesis. If the deal slips, prices poorly, or never happens, you are left with the current business economics and a $13M parent valuation.
impact: the market would need to value the existing studio portfolio on its own, and that portfolio just produced $1.3M in quarterly revenue.
med
Losses keep outrunning scale
The latest quarter showed a $0.89M adjusted EBITDA loss on $1.3M of revenue. That is a large loss relative to the sales base, and small companies do not get infinite time to fix that.
impact: sustained losses would pressure financing flexibility and make every strategic option harder.
med
Holding-company discount stays in place
A collection of small studios without one breakout platform often trades below the sum of the story. Even if revenue reaches the $11M annual estimate, investors may still apply a discount to complexity.
impact: you can be right about the technology and still not get a better multiple.
A failed spin-out leaves you with a business doing roughly $11M in annual revenue, $1.3M in the latest quarter, and still posting a $0.89M adjusted EBITDA loss.
source: institutional data · regulatory filings · risk analysis
Pay attention to
corporate action
Brightline Interactive IPO timeline
Management has pointed to H1 2026. If that timeline slips, the stock loses its clearest catalyst fast.
unit economics
Revenue versus adjusted EBITDA
The last quarter was $1.3M of revenue against a $0.89M adjusted EBITDA loss. You want to see that gap narrow meaningfully.
trading behavior
Volatility staying extreme
Price stability is 5/100 and beta is 1.5. That is the profile of a stock that can move hard on very little new information.
structure risk
Whether the portfolio still makes sense after Brightline
If the best asset leaves, investors will immediately ask what quality remains inside the parent and whether the holding-company model deserves a discount.
Analyst rankings
balance sheet grade
C++
Below average balance-sheet quality. In human-speak, this company does not have much room for a long string of bad quarters.
risk rank
5
Safer than only 5% of stocks in the dataset. That puts it near the speculative end of the market.
beta
1.5
When the market moves, this has tended to move more. Not a bunker stock. Not a low-drama stock either.
source: institutional data
Institutional activity
institutional ownership data for GGRP is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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