The Glimpse Group Reports Q3 Fiscal Year 2024 Financial Results
The Glimpse Group Reports Q3 Fiscal Year 2024 Financial Results
NEW YORK, NY / ACCESSWIRE / May 15, 2024 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR)(FSE:9DR), 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 third quarter fiscal year 2024, ended March 31, 2024 ("Q3 FY'24").
纽约州纽约/ACCESSWIRE/2024年5月15日/提供以企业为中心的虚拟现实（“VR”）、增强现实（“AR”）和空间计算软件和服务的多元化沉浸式技术平台公司Glimpse Group, Inc.（“Glimpse”）（纳斯达克股票代码：VRAR）（FSE: 9DR），提供以企业为中心的虚拟现实（“AR”）和空间计算软件和服务，该公司公布了截至2024年3月31日的2024财年第三季度财务业绩（“第三季度”）'24")。
Business Summary by President & CEO Lyron Bentovim
总裁兼首席执行官莱伦·本托维姆的业务摘要
- Earlier today, we announced that our subsidiary company, Brightline Interactive ("BLI"), entered into a $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. Please see separate related 8K and press release.
- We are in the process of securing several additional multi-million dollar Spatial Computing/Cloud/AI contracts with multiple Government, DoD and large enterprise customers. The short-term aggregate value for these contracts is in the $8-12 million range. While there is no guarantee that some or all of these will come to fruition, we anticipate that a good portion of these will close before CY-end '24, with additional potential in CY '25.
- Each of these potential contracts has significant growth elements built into them that could lead to significant annual recurring software revenue.
- Looking forward, we expect revenues to be generally flat to up in the coming two quarters as we finalize our divestiture plans and then grow significantly in Q4 CY 2024 and into 2025 as we start recognizing the revenues from the DoD entity contract we signed and the others we expect to follow.
- As previously discussed, we have made significant reductions in our operating cash expense base as reflected by a 62% reduction in our Operating expenses this quarter compared to the same quarter last year. Our operational cash breakeven point is now at approximately $3 million revenue per quarter or $12 million revenue annually. Given our current level of revenues and subject to the signing of some of the contracts mentioned above, we expect to be cash flow positive from our operations commencing in September '24 and onwards. In such a scenario, and given our current cash balance, we expect to be self-sufficient without needing any external fundings.
- These strides increasingly validate our transition to enterprise-scale Spatial Computing/Cloud/AI driven Immersive recurring software solutions, and the divestiture of non-core operating assets. As was previously discussed and as expected, the temporary impact of this strategic transition was lower revenue.
- Q3 FY '24 quarterly revenue of approximately $1.9 million, a 48% decrease compared to revenue of approximately $3.7 million in Q3 FY '23 which was our record revenue quarter.
- Gross Margin for Q3 FY '24 was approximately 70% compared to 67% for Q3 FY '23. We expect our Gross Margins to continue to remain in the 65-75% range.
- Adjusted EBITDA loss for Q3 FY'24 of approximately $0.89 million, compared to an EBITDA loss of approximately $1.13 million for Q3 FY '23, a quarter in which the revenues were far higher.
- 今天早些时候，我们宣布，我们的子公司Brightline Interactive（“BLI”）与国防部（“DoD”）实体签订了一份价值超过400万美元、为期12个月的空间计算生态系统合同，为各种国防用例集成了人工智能工作流程和加速计算。请单独查看相关的 8K 和新闻稿。
- 我们正在与多个政府、国防部和大型企业客户签订另外几份价值数百万美元的空间计算/云/人工智能合同。这些合约的短期总价值在800万至1200万美元之间。尽管无法保证其中部分或全部会实现，但我们预计其中很大一部分将在24财年末之前完成，还有更多可能在25财年结束。
- 这些潜在合同中都包含重要的增长要素，这可能会带来可观的年度经常性软件收入。
- 展望未来，随着我们最终确定资产剥离计划，我们预计未来两个季度的收入将总体持平至上升，然后在2024财年第四季度以及2025年开始确认来自我们签署的国防部实体合同和预计将要签订的其他合同的收入，收入将大幅增长。
- 如前所述，我们大幅削减了运营现金支出基础，这反映在我们本季度的运营支出与去年同期相比减少了62％。目前，我们的运营现金盈亏平衡点约为每季度300万美元或每年收入1200万美元。鉴于我们目前的收入水平，并视上述部分合同的签署而定，我们预计从24年9月开始运营的现金流将为正数。在这种情况下，鉴于我们目前的现金余额，我们预计无需任何外部资金即可实现自给自足。
- 这些进展越来越多地验证了我们向企业级空间计算/云/人工智能驱动的沉浸式循环软件解决方案的过渡，以及剥离非核心运营资产。如前所述，正如预期的那样，这种战略过渡的暂时影响是收入减少。
- 24财年第三季度的季度收入约为190万美元，与23财年第三季度的约370万美元收入相比下降了48％，这是我们创纪录的收入季度。
- 24财年第三季度的毛利率约为70％，而23财年第三季度的毛利率为67％。我们预计我们的毛利率将继续保持在65-75％的范围内。
- 24财年第三季度调整后的息税折旧摊销前利润亏损约为89万美元，而23财年第三季度的息税折旧摊销前利润亏损约为113万美元，该季度的收入要高得多。
Q3 FY '24 Financial Summary (for full detail of our financial results please refer to our 8K and 10Q filed on 5/15/24)
24财年第三季度财务摘要（有关我们财务业绩的完整详细信息，请参阅我们在24年5月15日提交的8K和10Q）
- Total revenue for the three months ended March 31, 2024 was approximately $1.9 million compared to approximately $3.67 million for the three months ended March 31, 2023, a decrease of 48%. Total revenue for the nine months ended March 31, 2024 was approximately $7.08 million compared to approximately $10.57 million for the nine months ended March 31, 2023, a decrease of 33%. The decrease for both periods reflects our strategic shift to Spatial Computing, Cloud and AI driven immersive software solutions ("Strategic Shift"), which has resulted in a significant turnover in our historical customer base and divestiture of non-strategic assets.
- Gross profit margin was approximately 70% for the three months ended March 31, 2024 compared to approximately 67% for the three months ended March 31, 2023. The increase was driven by higher gross margin Software License/SaaS and non-project Software Services representing a greater percentage of total revenue. Gross profit margin was approximately 66% for the nine months ended March 31, 2024 compared to approximately 69% for the nine months ended March 31, 2023. The decrease was driven by the lower margin on project revenue in the current fiscal year due to a larger use of outside contractors.
- Operating expenses for the three months ended March 31, 2024 were approximately $2.93 million compared to $7.73 million for the three months ended March 31, 2023, a decrease of 62%. This reflects a decrease in primarily all expense categories, reduced investment in non-core areas and divesting non-core assets to align with reduced revenue as a result our Strategic Shift, along with a gain in the change in fair value of acquisition contingent consideration. Operating expenses for the nine months ended March 31, 2024 were approximately $7.26 million compared to $16.74 million for the nine months ended March 31, 2023, a decrease of 57%. This reflects a decrease in all expense categories, reduced investment in non-core areas and divesting non-core assets to align with reduced revenue as a result our Strategic Shift, along with an increased gain in the change in fair value of acquisition contingent consideration.
- Net loss for the three months ended March 31, 2024 was $1.54 million, as compared to a net loss of $5.22 million for the comparable 2023 period, a $3.68 million improvement or approximately 70%. This reflects decreased revenue/gross margin offset by a decrease in operating expenses and a gain in change in fair value of acquisition contingent consideration. Net loss for the nine months ended March 31, 2024 was $2.40 million, as compared to a net loss of $9.30 million for the comparable 2023 period, a $6.90 million improvement or approximately 74%. This reflects decreased revenue/gross margin and increased intangible asset impairment offset by a decrease in operating expenses and an increased gain in change in fair value of acquisition contingent consideration.
- Adjusted EBITDA loss for the three months ended March 31, 2024 was $0.89 million compared to a loss of $1.13 million for the comparable 2023 period. Adjusted EBITDA loss for the nine months ended March 31, 2024 was $3.50 million compared to a loss of $4.78 million for the comparable 2023 period. The reduced EBITDA loss for both periods reflect cash expense reductions in excess of the decrease in revenue/gross margin.
- As of March 31, 2024, the Company had cash and cash equivalents of approximately $4.3 million.
- The Company has no outstanding corporate debt or preferred equity obligations.
- 截至2024年3月31日的三个月，总收入约为190万美元，而截至2023年3月31日的三个月，总收入约为367万美元，下降了48％。截至2024年3月31日的九个月的总收入约为708万美元，而截至2023年3月31日的九个月的总收入约为1,057万美元，下降了33％。这两个时期的下降反映了我们向空间计算、云和人工智能驱动的沉浸式软件解决方案（“战略转移”）的战略转移，这导致了我们历史客户群的大量流失和非战略资产的剥离。
- 截至2024年3月31日的三个月，毛利率约为70％，而截至2023年3月31日的三个月，毛利率约为67％。这一增长是由毛利率提高的软件许可证/SaaS和非项目软件服务占总收入的更大比例所推动的。截至2024年3月31日的九个月中，毛利率约为66％，而截至2023年3月31日的九个月的毛利率约为69％。下降是由本财年项目收入利润率下降所致，这是由于更多地使用外部承包商。
- 截至2024年3月31日的三个月，运营支出约为293万美元，而截至2023年3月31日的三个月为773万美元，下降了62％。这反映了主要所有支出类别的减少，对非核心领域的投资减少，以及剥离非核心资产以适应我们的战略转变导致的收入减少，以及收购或有对价公允价值变动的收益。截至2024年3月31日的九个月的运营支出约为726万美元，而截至2023年3月31日的九个月为1,674万美元，下降了57％。这反映了所有支出类别的减少，对非核心领域的投资减少，以及剥离非核心资产以应对我们的战略转变导致的收入减少，以及收购或有对价公允价值变动的收益增加。
- 截至2024年3月31日的三个月，净亏损为154万美元，而2023年同期的净亏损为522万美元，增长了368万美元，增长了约70％。这反映了收入/毛利率的下降被运营支出的减少和收购或有对价公允价值变动的收益所抵消。截至2024年3月31日的九个月中，净亏损为240万美元，而2023年同期的净亏损为930万美元，增长了690万美元，涨幅约为74％。这反映了收入/毛利率的下降和无形资产减值的增加，但被运营支出的减少和收购或有对价公允价值变动收益的增加所抵消。
- 截至2024年3月31日的三个月，调整后的息税折旧摊销前利润亏损为89万美元，而2023年同期的亏损为113万美元。截至2024年3月31日的九个月中，调整后的息税折旧摊销前利润亏损为350万美元，而2023年同期的亏损为478万美元。两个时期的息税折旧摊销前利润亏损的减少反映了超过收入/毛利率下降的现金支出。
- 截至2024年3月31日，该公司的现金及现金等价物约为430万美元。
- 公司没有未偿还的公司债务或优先股债务。
Q3 Fiscal Year 2024 Conference Call and Webcast
2024 财年第三季度电话会议和网络直播
Date: Wednesday, May 15, 2024
Time: 4:30 p.m. Eastern time
USA Dial In: 844-369-8774
International: 862-298-0844
Participant Access Code: The Glimpse Group
Webcast:
日期：2024 年 5 月 15 日星期三
时间：美国东部时间下午 4:30
美国拨号：844-369-8774
国际：862-298-0844
参与者访问码：Glimpse Group
网络直播：
Please dial in at least 10 minutes before the start of the call to ensure timely participation.
请在通话开始前至少 10 分钟拨号，以确保及时参与。
A playback of the webcast will be available through May 15, 2025. A replay of the teleconference will be available through May 29, 2024. To listen, please call USA: 877-481-4010 or International: 919-882-2331; Replay Passcode: 50603. 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.
该网络直播的重播将持续到2025年5月15日。电话会议的重播将持续到2024年5月29日。要收听，请致电美国：877-481-4010 或国际：919-882-2331；重播密码：50603。还将在Glimpse集团网站（ir.theglimpsegroup.com）的投资者关系栏目上或点击上面的网络直播链接进行网络直播。
Note about Non-GAAP Financial Measures
关于非公认会计准则财务指标的说明
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.
非公认会计准则财务指标是衡量公司业绩、财务状况或现金流的数值指标，其中不包括或包括通常不排除或不包含在根据美利坚合众国普遍接受的会计原则（GAAP）计算和列报的最直接可比指标中的金额。非公认会计准则指标不符合公认会计原则指标，也不能替代公认会计原则指标。其他公司可能会使用不同的非公认会计准则衡量标准和业绩表述。
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.
除了根据公认会计原则公布的财务业绩外，本新闻稿还介绍了调整后的息税折旧摊销前利润，这是一项非公认会计准则的指标。调整后的息税折旧摊销前利润是通过计算净亏损并加上利息、税款、折旧、摊销和股票薪酬支出来确定的。该公司认为，这种非公认会计准则指标，除了净亏损以外，也不是代替净亏损，通过提供更有针对性的经营业绩衡量标准，为投资者提供了有用的信息。该指标是公司内部报告不可分割的一部分，用于评估其运营和高级管理层的业绩。调整后的息税折旧摊销前利润与净亏损的对账是最具可比性的公认会计原则指标，见下方随附的财务表。此处提出的非公认会计准则指标可能无法与其他公司提出的类似标题的指标相提并论。
About The Glimpse Group, Inc.
关于 Glimpse Group, Inc.
The Glimpse Group (NASDAQ:VRAR),(FSE:9DR) 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 Group（纳斯达克股票代码：VRAR）（FSE: 9DR）是一家多元化的沉浸式技术平台公司，提供以企业为中心的虚拟现实、增强现实和空间计算软件和服务。Glimpse独特的商业模式建立了规模和强大的生态系统，同时为投资者提供了通过多元化平台直接投资这一新兴行业的机会。有关 Glimpse Group 的更多信息，请访问
Safe Harbor Statement
安全港声明
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 contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us 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 include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts 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.
本新闻稿不构成出售要约或征求购买任何实体任何证券的要约。本新闻稿包含基于我们当前预期、预测和假设的某些前瞻性陈述，涉及风险和不确定性。本新闻稿中的前瞻性陈述基于截至本新闻稿发布之日我们获得的信息。由于与我们的业务相关的风险和不确定性，我们的实际业绩可能与此类前瞻性陈述中陈述或暗示的业绩存在重大差异。前瞻性陈述包括有关我们对未来的预期、信念、意图或战略的陈述，可以通过诸如 “预期”、“相信”、“可能”、“估计”、“预期”、“打算”、“可能”、“应该” 和 “将” 等前瞻性词语或类似词语来识别。管理层在本新闻稿中提供的所有预测均基于目前可用的信息，管理层预计内部预测和预期可能会随着时间的推移而发生变化。此外，鉴于我们目前的合同、当前积压的机会以及与新老客户就我们的产品和服务进行的对话，这些预测完全基于管理层对我们未来财务业绩的最佳估计。无论是由于新信息、未来事件还是其他原因，我们都没有义务更新本新闻稿中包含的信息。
Company Contact:
Maydan Rothblum
CFO & COO
The Glimpse Group, Inc.
(917) 292-2685
maydan@theglimpsegroup.com
公司联系人：
Maydan Rothblum
首席财务官兼首席运营官
Glimpse Group, Inc
(917) 292-2685
maydan@theglimpsegroup.com
THE GLIMPSE GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
GLIMPSE 集团有限公司
简明的合并资产负债表
|
As of March 31, 2024 |
As of June 30, 2023 |
|||||||
| (Unaudited) | (Audited) | |||||||
ASSETS |
||||||||
Cash and cash equivalents |
$ | 4,285,343 | $ | 5,619,083 | ||||
Accounts receivable |
975,172 | 1,453,770 | ||||||
Deferred costs/contract assets |
72,205 | 158,552 | ||||||
Prepaid expenses and other current assets |
813,193 | 562,163 | ||||||
Total current assets |
6,145,913 | 7,793,568 | ||||||
Equipment, net |
184,954 | 264,451 | ||||||
Right-of-use assets, net |
522,449 | 627,832 | ||||||
Intangible assets, net |
2,820,068 | 4,284,151 | ||||||
Goodwill |
10,857,600 | 11,236,638 | ||||||
Other assets |
73,273 | 71,767 | ||||||
Total assets |
$ | 20,604,257 | $ | 24,278,407 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY |
||||||||
Accounts payable |
$ | 241,072 | $ | 455,777 | ||||
Accrued liabilities |
246,971 | 635,616 | ||||||
Accrued non cash performance bonus |
- | 1,041,596 | ||||||
Deferred revenue/contract liabilities |
69,847 | 466,393 | ||||||
Lease liabilities, current portion |
413,237 | 405,948 | ||||||
Contingent consideration for acquisitions, current portion |
2,918,939 | 5,120,791 | ||||||
Total current liabilities |
3,890,066 | 8,126,121 | ||||||
Long term liabilities |
||||||||
Contingent consideration for acquisitions, net of current portion |
1,414,682 | 4,505,000 | ||||||
Lease liabilities, net of current portion |
211,638 | 423,454 | ||||||
Total liabilities |
5,516,386 | 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; 18,140,217 and 14,701,929 issued and outstanding, respectively |
18,141 | 14,702 | ||||||
Additional paid-in capital |
74,114,774 | 67,854,108 | ||||||
Accumulated deficit |
(59,045,044) | (56,644,978) | ||||||
Total stockholders' equity |
15,087,871 | 11,223,832 | ||||||
Total liabilities and stockholders' equity |
$ | 20,604,257 | $ | 24,278,407 | ||||
| 截至截至 2024年3月31日 |
截至截至 2023年6月30日 |
|||||||
| （未经审计） | （已审计） | |||||||
资产 |
||||||||
现金和现金等价物 |
$ | 4,285,343 | $ | 5,619,083 | ||||
应收账款 |
975,172 | 1,453,770 | ||||||
递延成本/合同资产 |
72,205 | 158,552 | ||||||
预付费用和其他流动资产 |
813,193 | 562,163 | ||||||
流动资产总额 |
6,145,913 | 7,793,568 | ||||||
设备，网 |
184,954 | 264,451 | ||||||
使用权资产，净额 |
522,449 | 627,832 | ||||||
无形资产，净额 |
2,820,068 | 4,284,151 | ||||||
善意 |
10,857,600 | 11,236,638 | ||||||
其他资产 |
73,273 | 71,767 | ||||||
总资产 |
$ | 20,604,257 | $ | 24,278,407 | ||||
负债和股东权益 |
||||||||
应付账款 |
$ | 241,072 | $ | 455,777 | ||||
应计负债 |
246,971 | 635,616 | ||||||
应计非现金绩效奖金 |
- | 1,041,596 | ||||||
递延收入/合同负债 |
69,847 | 466,393 | ||||||
租赁负债，流动部分 |
413,237 | 405,948 | ||||||
收购的或有对价，当前部分 |
2,918,939 | 5,120,791 | ||||||
流动负债总额 |
3,890,066 | 8,126,121 | ||||||
长期负债 |
||||||||
收购的或有对价，扣除当期部分 |
1,414,682 | 4,505,000 | ||||||
租赁负债，扣除流动部分 |
211,638 | 423,454 | ||||||
负债总额 |
5,516,386 | 13,054,575 | ||||||
承付款和意外开支 |
- | - | ||||||
股东权益 |
||||||||
优先股，面值每股0.001美元，2000万股 已授权；已发行和流通 0 股 |
- | - | ||||||
普通股，面值每股0.001美元，3亿股 已授权；分别已发行和未偿还18,140,217和14,701,929份 |
18,141 | 14,702 | ||||||
额外的实收资本 |
74,114,774 | 67,854,108 | ||||||
累计赤字 |
(59,045,044) | (56,644,978) | ||||||
股东权益总额 |
15,087,871 | 11,223,832 | ||||||
负债和股东权益总额 |
$ | 20,604,257 | $ | 24,278,407 | ||||
GLIMPSE GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
GLIMPSE 集团有限公司
简明合并运营报表
（未经审计）
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| March 31, | March 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
Revenue |
||||||||||||||||
Software services |
$ | 1,466,397 | $ | 3,119,948 | $ | 6,510,740 | $ | 9,868,920 | ||||||||
Software license/software as a service |
429,246 | 552,442 | 566,208 | 705,041 | ||||||||||||
Total Revenue |
1,895,643 | 3,672,390 | 7,076,948 | 10,573,961 | ||||||||||||
Cost of goods sold |
569,461 | 1,223,531 | 2,406,479 | 3,313,409 | ||||||||||||
Gross Profit |
1,326,182 | 2,448,859 | 4,670,469 | 7,260,552 | ||||||||||||
Operating expenses: |
||||||||||||||||
Research and development expenses |
1,136,848 | 2,157,307 | 4,209,518 | 6,692,332 | ||||||||||||
General and administrative expenses |
1,233,904 | 1,137,231 | 3,375,140 | 3,773,231 | ||||||||||||
Sales and marketing expenses |
559,681 | 1,456,883 | 2,138,539 | 4,938,213 | ||||||||||||
Amortization of acquisition intangible assets |
291,036 | 550,786 | 950,192 | 1,536,467 | ||||||||||||
Goodwill impairment |
- | 250,000 | 379,038 | 250,000 | ||||||||||||
Intangible asset impairment |
- | 229,182 | 522,166 | 229,182 | ||||||||||||
Change in fair value of acquisition contingent consideration |
(291,980) | 1,947,989 | (4,317,524) | (677,113) | ||||||||||||
Total operating expenses |
2,929,489 | 7,729,378 | 7,257,069 | 16,742,312 | ||||||||||||
Loss from operations before other income |
(1,603,307) | (5,280,519) | (2,586,600) | (9,481,760) | ||||||||||||
Other income |
||||||||||||||||
Interest income |
61,051 | 57,921 | 186,534 | 184,800 | ||||||||||||
Net Loss |
$ | (1,542,256) | $ | (5,222,598) | $ | (2,400,066) | $ | (9,296,960) | ||||||||
Basic and diluted net loss per share |
$ | (0.09) | $ | (0.37) | $ | (0.15) | $ | (0.68) | ||||||||
Weighted-average shares used to compute basic and diluted net loss per share |
17,195,322 | 14,093,597 | 16,194,523 | 13,727,595 | ||||||||||||
| 在已结束的三个月中 | 在结束的九个月里 | |||||||||||||||
| 3月31日 | 3月31日 | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
收入 |
||||||||||||||||
软件服务 |
$ | 1,466,397 | $ | 3,119,948 | $ | 6,510,740 | $ | 9,868,920 | ||||||||
软件许可证/软件即服务 |
429,246 | 552,442 | 566,208 | 705,041 | ||||||||||||
总收入 |
1,895,643 | 3,672,390 | 7,076,948 | 10,573,961 | ||||||||||||
销售商品的成本 |
569,461 | 1,223,531 | 2,406,479 | 3,313,409 | ||||||||||||
毛利 |
1,326,182 | 2,448,859 | 4,670,469 | 7,260,552 | ||||||||||||
运营费用： |
||||||||||||||||
研究和开发费用 |
1,136,848 | 2,157,307 | 4,209,518 | 6,692,332 | ||||||||||||
一般和管理费用 |
1,233,904 | 1,137,231 | 3,375,140 | 3,773,231 | ||||||||||||
销售和营销费用 |
559,681 | 1,456,883 | 2,138,539 | 4,938,213 | ||||||||||||
收购无形资产的摊销 |
291,036 | 550,786 | 950,192 | 1,536,467 | ||||||||||||
商誉减值 |
- | 250,000 | 379,038 | 250,000 | ||||||||||||
无形资产减值 |
- | 229,182 | 522,166 | 229,182 | ||||||||||||
收购或有对价公允价值的变化 |
(291,980) | 1,947,989 | (4,317,524) | (677,113) | ||||||||||||
运营费用总额 |
2,929,489 | 7,729,378 | 7,257,069 | 16,742,312 | ||||||||||||
扣除其他收入之前的运营亏损 |
(1,603,307) | (5,280,519) | (2,586,600) | (9,481,760) | ||||||||||||
其他收入 |
||||||||||||||||
利息收入 |
61,051 | 57,921 | 186,534 | 184,800 | ||||||||||||
净亏损 |
$ | (1,542,256) | $ | (5,222,598) | $ | (2,400,066) | $ | (9,296,960) | ||||||||
基本和摊薄后的每股净亏损 |
$ | (0.09) | $ | (0.37) | $ | (0.15) | $ | (0.68) | ||||||||
用于计算基本和摊薄后的每股净亏损的加权平均股数 |
17,195,322 | 14,093,597 | 16,194,523 | 13,727,595 | ||||||||||||
THE GLIMPSE GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
GLIMPSE 集团有限公司
简明的合并现金流量表
（未经审计）
|
For the Nine Months Ended March 31, |
||||||||
| 2024 | 2023 | |||||||
Cash flows from operating activities: |
||||||||
Net loss |
$ | (2,400,066) | $ | (9,296,960) | ||||
Adjustments to reconcile net loss to net cash used in operating activities: |
||||||||
Amortization and depreciation |
1,040,759 | 1,645,846 | ||||||
Common stock and stock option based compensation for employees and board of directors |
1,742,126 | 2,784,667 | ||||||
Accrued non cash performance bonus fair value adjustment |
(551,236) | - | ||||||
Acquisition contingent consideration fair value adjustment |
(4,317,524) | (677,113) | ||||||
Impairment of goodwill and intangible assets |
901,204 | 479,182 | ||||||
Issuance of common stock to vendors as compensation |
88,472 | 5,238 | ||||||
Adjustment to operating lease right-of-use assets and liabilities |
(99,144) | (15,056) | ||||||
Changes in operating assets and liabilities: |
||||||||
Accounts receivable |
478,598 | (48,340) | ||||||
Deferred costs/contract assets |
86,347 | 519,673 | ||||||
Prepaid expenses and other current assets |
(251,030) | (120,436) | ||||||
Other assets |
(1,506) | 149,962 | ||||||
Accounts payable |
(214,705) | (525,832) | ||||||
Accrued liabilities |
(388,644) | (149,673) | ||||||
Deferred revenue/contract liabilities |
(396,546) | (2,348,561) | ||||||
Net cash used in operating activities |
(4,282,895) | (7,597,403) | ||||||
Cash flow from investing activities: |
||||||||
Purchases of equipment |
(19,346) | (139,420) | ||||||
Acquisitions, net of cash acquired |
- | (2,522,756) | ||||||
Purchase of investments |
- | (8,197) | ||||||
Net cash used in investing activities |
(19,346) | (2,670,373) | ||||||
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 |
(1,333,740) | (10,201,665) | ||||||
Cash, cash equivalents and restricted cash, beginning of year |
5,619,083 | 18,249,666 | ||||||
Cash, cash equivalents and restricted cash, end of period |
$ | 4,285,343 | $ | 8,048,001 | ||||
Non-cash Investing and Financing activities: |
||||||||
Issuance of common stock for satisfaction of contingent liability |
$ | 974,647 | $ | 2,093,037 | ||||
Issuance of common stock for non cash performance bonus |
$ | 490,360 | $ | - | ||||
Lease liabilities arising from right-of-use assets |
$ | 113,182 | $ | 1,221,513 | ||||
Note receivable for sale of subsidiary assets |
$ | 1,000,000 | $ | - | ||||
Allowance against note receivable |
$ | (1,000,000) | $ | - | ||||
Common stock issued for acquisition |
$ | - | $ | 2,845,430 | ||||
Contingent acquisition consideration liability recorded at closing |
$ | - | $ | 6,139,000 | ||||
Common stock issued for purchase of intangible asset - technology |
$ | - | $ | 326,436 | ||||
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 | ||||
| 在结束的九个月里 3月31日 |
||||||||
| 2024 | 2023 | |||||||
来自经营活动的现金流： |
||||||||
净亏损 |
$ | (2,400,066) | $ | (9,296,960) | ||||
为使净亏损与经营活动中使用的净现金相一致而进行的调整： |
||||||||
摊销和折旧 |
1,040,759 | 1,645,846 | ||||||
为员工和董事会提供基于普通股和股票期权的薪酬 |
1,742,126 | 2,784,667 | ||||||
应计非现金业绩奖金公允价值调整 |
(551,236) | - | ||||||
收购或有对价公允价值调整 |
(4,317,524) | (677,113) | ||||||
商誉和无形资产减值 |
901,204 | 479,182 | ||||||
向供应商发行普通股作为补偿 |
88,472 | 5,238 | ||||||
对经营租赁使用权资产和负债的调整 |
(99,144) | (15,056) | ||||||
运营资产和负债的变化： |
||||||||
应收账款 |
478,598 | (48,340) | ||||||
递延成本/合同资产 |
86,347 | 519,673 | ||||||
预付费用和其他流动资产 |
(251,030) | (120,436) | ||||||
其他资产 |
(1,506) | 149,962 | ||||||
应付账款 |
(214,705) | (525,832) | ||||||
应计负债 |
(388,644) | (149,673) | ||||||
递延收入/合同负债 |
(396,546) | (2,348,561) | ||||||
用于经营活动的净现金 |
(4,282,895) | (7,597,403) | ||||||
来自投资活动的现金流： |
||||||||
购买设备 |
(19,346) | (139,420) | ||||||
收购，扣除获得的现金 |
- | (2,522,756) | ||||||
购买投资 |
- | (8,197) | ||||||
用于投资活动的净现金 |
(19,346) | (2,670,373) | ||||||
融资活动提供的现金流： |
||||||||
证券购买协议的收益，净额 |
2,968,501 | - | ||||||
行使股票期权的收益 |
- | 66,111 | ||||||
融资活动提供的现金 |
2,968,501 | 66,111 | ||||||
现金、现金等价物和限制性现金的净变动 |
(1,333,740) | (10,201,665) | ||||||
现金、现金等价物和限制性现金，年初 |
5,619,083 | 18,249,666 | ||||||
现金、现金等价物和限制性现金，期末 |
$ | 4,285,343 | $ | 8,048,001 | ||||
非现金投资和融资活动： |
||||||||
发行普通股以偿还或有负债 |
$ | 974,647 | $ | 2,093,037 | ||||
发行普通股以获得非现金绩效奖励 |
$ | 490,360 | $ | - | ||||
使用权资产产生的租赁负债 |
$ | 113,182 | $ | 1,221,513 | ||||
出售子公司资产的应收票据 |
$ | 1,000,000 | $ | - | ||||
应收票据备抵金 |
$ | (1,000,000) | $ | - | ||||
为收购而发行的普通股 |
$ | - | $ | 2,845,430 | ||||
收盘时记录的或有收购对价负债 |
$ | - | $ | 6,139,000 | ||||
为购买无形资产而发行的普通股——技术 |
$ | - | $ | 326,436 | ||||
发行普通股以偿还或有负债，扣除票据失效 |
$ | - | $ | 318,571 | ||||
为清偿或有负债而注销应收票据 |
$ | - | $ | 250,000 | ||||
The following table presents a reconciliation of net loss to Adjusted EBITDA for the three and nine months ended March 31, 2024 and 2023:
下表显示了截至2024年3月31日和2023年3月31日的三个月和九个月净亏损与调整后息税折旧摊销前利润的对账情况：
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| March 31, | March 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| (in millions) | (in millions) | |||||||||||||||
Net loss |
$ | (1.54) | $ | (5.22) | $ | (2.40) | $ | (9.30) | ||||||||
Depreciation and amortization |
0.32 | 0.59 | 1.04 | 1.65 | ||||||||||||
EBITDA loss |
(1.22) | (4.63) | (1.36) | (7.65) | ||||||||||||
Stock based compensation expenses |
0.62 | 1.07 | 1.83 | 2.79 | ||||||||||||
Intangible asset impairment |
- | 0.48 | 0.90 | 0.48 | ||||||||||||
Acquisition expenses |
- | - | - | 0.28 | ||||||||||||
Non cash change in fair value of accrued performance bonus |
- | - | (0.55) | - | ||||||||||||
Non cash change in fair value of acquisition contingent consideration |
(0.29) | 1.95 | (4.32) | (0.68) | ||||||||||||
Adjusted EBITDA loss |
$ | (0.89) | $ | (1.13) | $ | (3.50) | $ | (4.78) | ||||||||
| 在已结束的三个月中 | 在结束的九个月里 | |||||||||||||||
| 3月31日 | 3月31日 | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| （单位：百万） | （单位：百万） | |||||||||||||||
净亏损 |
$ | (1.54) | $ | (5.22) | $ | (2.40) | $ | (9.30) | ||||||||
折旧和摊销 |
0.32 | 0.59 | 1.04 | 1.65 | ||||||||||||
息税折旧摊销前利润 |
(1.22) | (4.63) | (1.36) | (7.65) | ||||||||||||
股票薪酬支出 |
0.62 | 1.07 | 1.83 | 2.79 | ||||||||||||
无形资产减值 |
- | 0.48 | 0.90 | 0.48 | ||||||||||||
收购费用 |
- | - | - | 0.28 | ||||||||||||
应计绩效奖金公允价值的非现金变动 |
- | - | (0.55) | - | ||||||||||||
收购或有对价公允价值的非现金变动 |
(0.29) | 1.95 | (4.32) | (0.68) | ||||||||||||
调整后的息税折旧摊销前利润 |
$ | (0.89) | $ | (1.13) | $ | (3.50) | $ | (4.78) | ||||||||
SOURCE: The Glimpse Group, Inc.
来源：Glimpse Group, Inc.