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").
紐約州紐約/ACCESSWIRE/2024年5月15日/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的多元化沉浸式技術平台公司Glimpse Group, Inc.（“Glimpse”）（納斯達克股票代碼：VRAR）（FSE: 9DR），提供以企業爲中心的虛擬現實（“AR”）和空間計算軟件和服務，該公司公佈了截至2024年3月31日的2024財年第三季度財務業績（“第三季度”）'24")。
Business Summary by President & CEO Lyron Bentovim
總裁兼首席執行官萊倫·本托維姆的業務摘要
- 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.
- 今天早些時候，我們宣佈，我們的子公司Brightline Interactive（“BLI”）與國防部（“DoD”）實體簽訂了一份價值超過400萬美元、爲期12個月的空間計算生態系統合同，爲各種國防用例集成了人工智能工作流程和加速計算。請單獨查看相關的 8K 和新聞稿。
- 我們正在與多個政府、國防部和大型企業客戶簽訂另外幾份價值數百萬美元的空間計算/雲/人工智能合同。這些合約的短期總價值在800萬至1200萬美元之間。儘管無法保證其中部分或全部會實現，但我們預計其中很大一部分將在24財年末之前完成，還有更多可能在25財年結束。
- 這些潛在合同中都包含重要的增長要素，這可能會帶來可觀的年度經常性軟件收入。
- 展望未來，隨着我們最終確定資產剝離計劃，我們預計未來兩個季度的收入將總體持平至上升，然後在2024財年第四季度以及2025年開始確認來自我們簽署的國防部實體合同和預計將要簽訂的其他合同的收入，收入將大幅增長。
- 如前所述，我們大幅削減了運營現金支出基礎，這反映在我們本季度的運營支出與去年同期相比減少了62％。目前，我們的運營現金盈虧平衡點約爲每季度300萬美元或每年收入1200萬美元。鑑於我們目前的收入水平，並視上述部分合同的簽署而定，我們預計從24年9月開始運營的現金流將爲正數。在這種情況下，鑑於我們目前的現金餘額，我們預計無需任何外部資金即可實現自給自足。
- 這些進展越來越多地驗證了我們向企業級空間計算/雲/人工智能驅動的沉浸式循環軟件解決方案的過渡，以及剝離非核心運營資產。如前所述，正如預期的那樣，這種戰略過渡的暫時影響是收入減少。
- 24財年第三季度的季度收入約爲190萬美元，與23財年第三季度的約370萬美元收入相比下降了48％，這是我們創紀錄的收入季度。
- 24財年第三季度的毛利率約爲70％，而23財年第三季度的毛利率爲67％。我們預計我們的毛利率將繼續保持在65-75％的範圍內。
- 24財年第三季度調整後的息稅折舊攤銷前利潤虧損約爲89萬美元，而23財年第三季度的息稅折舊攤銷前利潤虧損約爲113萬美元，該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財年第三季度財務摘要（有關我們財務業績的完整詳細信息，請參閱我們在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日的三個月，總收入約爲190萬美元，而截至2023年3月31日的三個月，總收入約爲367萬美元，下降了48％。截至2024年3月31日的九個月的總收入約爲708萬美元，而截至2023年3月31日的九個月的總收入約爲1,057萬美元，下降了33％。這兩個時期的下降反映了我們向空間計算、雲和人工智能驅動的沉浸式軟件解決方案（“戰略轉移”）的戰略轉移，這導致了我們歷史客戶群的大量流失和非戰略資產的剝離。
- 截至2024年3月31日的三個月，毛利率約爲70％，而截至2023年3月31日的三個月，毛利率約爲67％。這一增長是由毛利率提高的軟件許可證/SaaS和非項目軟件服務佔總收入的更大比例所推動的。截至2024年3月31日的九個月中，毛利率約爲66％，而截至2023年3月31日的九個月的毛利率約爲69％。下降是由本財年項目收入利潤率下降所致，這是由於更多地使用外部承包商。
- 截至2024年3月31日的三個月，運營支出約爲293萬美元，而截至2023年3月31日的三個月爲773萬美元，下降了62％。這反映了主要所有支出類別的減少，對非核心領域的投資減少，以及剝離非核心資產以適應我們的戰略轉變導致的收入減少，以及收購或有對價公允價值變動的收益。截至2024年3月31日的九個月的運營支出約爲726萬美元，而截至2023年3月31日的九個月爲1,674萬美元，下降了57％。這反映了所有支出類別的減少，對非核心領域的投資減少，以及剝離非核心資產以應對我們的戰略轉變導致的收入減少，以及收購或有對價公允價值變動的收益增加。
- 截至2024年3月31日的三個月，淨虧損爲154萬美元，而2023年同期的淨虧損爲522萬美元，增長了368萬美元，增長了約70％。這反映了收入/毛利率的下降被運營支出的減少和收購或有對價公允價值變動的收益所抵消。截至2024年3月31日的九個月中，淨虧損爲240萬美元，而2023年同期的淨虧損爲930萬美元，增長了690萬美元，漲幅約爲74％。這反映了收入/毛利率的下降和無形資產減值的增加，但被運營支出的減少和收購或有對價公允價值變動收益的增加所抵消。
- 截至2024年3月31日的三個月，調整後的息稅折舊攤銷前利潤虧損爲89萬美元，而2023年同期的虧損爲113萬美元。截至2024年3月31日的九個月中，調整後的息稅折舊攤銷前利潤虧損爲350萬美元，而2023年同期的虧損爲478萬美元。兩個時期的息稅折舊攤銷前利潤虧損的減少反映了超過收入/毛利率下降的現金支出。
- 截至2024年3月31日，該公司的現金及現金等價物約爲430萬美元。
- 公司沒有未償還的公司債務或優先股債務。
Q3 Fiscal Year 2024 Conference Call and Webcast
2024 財年第三季度電話會議和網絡直播
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
時間：美國東部時間下午 4:30
美國撥號：844-369-8774
國際：862-298-0844
參與者訪問碼：Glimpse Group
網絡直播：
Please dial in at least 10 minutes before the start of the call to ensure timely participation.
請在通話開始前至少 10 分鐘撥號，以確保及時參與。
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.
該網絡直播的重播將持續到2025年5月15日。電話會議的重播將持續到2024年5月29日。要收聽，請致電美國：877-481-4010 或國際：919-882-2331；重播密碼：50603。還將在Glimpse集團網站（ir.theglimpsegroup.com）的投資者關係欄目上或點擊上面的網絡直播鏈接進行網絡直播。
Note about Non-GAAP Financial Measures
關於非公認會計准則財務指標的說明
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.
非公認會計准則財務指標是衡量公司業績、財務狀況或現金流的數值指標，其中不包括或包括通常不排除或不包含在根據美利堅合衆國普遍接受的會計原則（GAAP）計算和列報的最直接可比指標中的金額。非公認會計准則指標不符合公認會計原則指標，也不能替代公認會計原則指標。其他公司可能會使用不同的非公認會計准則衡量標準和業績表述。
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.
除了根據公認會計原則公佈的財務業績外，本新聞稿還介紹了調整後的息稅折舊攤銷前利潤，這是一項非公認會計准則的指標。調整後的息稅折舊攤銷前利潤是通過計算淨虧損並加上利息、稅款、折舊、攤銷和股票薪酬支出來確定的。該公司認爲，這種非公認會計准則指標，除了淨虧損以外，也不是代替淨虧損，通過提供更有針對性的經營業績衡量標準，爲投資者提供了有用的信息。該指標是公司內部報告不可分割的一部分，用於評估其運營和高級管理層的業績。調整後的息稅折舊攤銷前利潤與淨虧損的對賬是最具可比性的公認會計原則指標，見下方隨附的財務表。此處提出的非公認會計准則指標可能無法與其他公司提出的類似標題的指標相提並論。
About The Glimpse Group, Inc.
關於 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（納斯達克股票代碼：VRAR）（FSE: 9DR）是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、增強現實和空間計算軟件和服務。Glimpse獨特的商業模式建立了規模和強大的生態系統，同時爲投資者提供了通過多元化平台直接投資這一新興行業的機會。有關 Glimpse Group 的更多信息，請訪問
Safe Harbor Statement
安全港聲明
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 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.
本新聞稿不構成出售要約或徵求購買任何實體任何證券的要約。本新聞稿包含基於我們當前預期、預測和假設的某些前瞻性陳述，涉及風險和不確定性。本新聞稿中的前瞻性陳述基於截至本新聞稿發佈之日我們獲得的信息。由於與我們的業務相關的風險和不確定性，我們的實際業績可能與此類前瞻性陳述中陳述或暗示的業績存在重大差異。前瞻性陳述包括有關我們對未來的預期、信念、意圖或戰略的陳述，可以通過諸如 “預期”、“相信”、“可能”、“估計”、“預期”、“打算”、“可能”、“應該” 和 “將” 等前瞻性詞語或類似詞語來識別。管理層在本新聞稿中提供的所有預測均基於目前可用的信息，管理層預計內部預測和預期可能會隨着時間的推移而發生變化。此外，鑑於我們目前的合同、當前積壓的機會以及與新老客戶就我們的產品和服務進行的對話，這些預測完全基於管理層對我們未來財務業績的最佳估計。無論是由於新信息、未來事件還是其他原因，我們都沒有義務更新本新聞稿中包含的信息。
Company Contact:
Maydan Rothblum
CFO & COO
The Glimpse Group, Inc.
(917) 292-2685
maydan@theglimpsegroup.com
公司聯繫人：
Maydan Rothblum
首席財務官兼首席運營官
Glimpse Group, Inc
(917) 292-2685
maydan@theglimpsegroup.com
THE GLIMPSE GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
GLIMPSE 集團有限公司
簡明的合併資產負債表
|
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 |
|||||||
| （未經審計） | （已審計） | |||||||
資產 |
||||||||
現金和現金等價物 |
$ | 4,285,343 | $ | 5,619,083 | ||||
應收賬款 |
975,172 | 1,453,770 | ||||||
遞延成本/合同資產 |
72,205 | 158,552 | ||||||
預付費用和其他流動資產 |
813,193 | 562,163 | ||||||
流動資產總額 |
6,145,913 | 7,793,568 | ||||||
設備，網 |
184,954 | 264,451 | ||||||
使用權資產，淨額 |
522,449 | 627,832 | ||||||
無形資產，淨額 |
2,820,068 | 4,284,151 | ||||||
善意 |
10,857,600 | 11,236,638 | ||||||
其他資產 |
73,273 | 71,767 | ||||||
總資產 |
$ | 20,604,257 | $ | 24,278,407 | ||||
負債和股東權益 |
||||||||
應付賬款 |
$ | 241,072 | $ | 455,777 | ||||
應計負債 |
246,971 | 635,616 | ||||||
應計非現金績效獎金 |
- | 1,041,596 | ||||||
遞延收入/合同負債 |
69,847 | 466,393 | ||||||
租賃負債，流動部分 |
413,237 | 405,948 | ||||||
收購的或有對價，當前部分 |
2,918,939 | 5,120,791 | ||||||
流動負債總額 |
3,890,066 | 8,126,121 | ||||||
長期負債 |
||||||||
收購的或有對價，扣除當期部分 |
1,414,682 | 4,505,000 | ||||||
租賃負債，扣除流動部分 |
211,638 | 423,454 | ||||||
負債總額 |
5,516,386 | 13,054,575 | ||||||
承付款和意外開支 |
- | - | ||||||
股東權益 |
||||||||
優先股，面值每股0.001美元，2000萬股 已授權；已發行和流通 0 股 |
- | - | ||||||
普通股，面值每股0.001美元，3億股 已授權；分別已發行和未償還18,140,217和14,701,929份 |
18,141 | 14,702 | ||||||
額外的實收資本 |
74,114,774 | 67,854,108 | ||||||
累計赤字 |
(59,045,044) | (56,644,978) | ||||||
股東權益總額 |
15,087,871 | 11,223,832 | ||||||
負債和股東權益總額 |
$ | 20,604,257 | $ | 24,278,407 | ||||
GLIMPSE GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
GLIMPSE 集團有限公司
簡明合併運營報表
（未經審計）
| 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 | ||||||||||||
| 在已結束的三個月中 | 在結束的九個月裏 | |||||||||||||||
| 3月31日 | 3月31日 | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
收入 |
||||||||||||||||
軟件服務 |
$ | 1,466,397 | $ | 3,119,948 | $ | 6,510,740 | $ | 9,868,920 | ||||||||
軟件許可證/軟件即服務 |
429,246 | 552,442 | 566,208 | 705,041 | ||||||||||||
總收入 |
1,895,643 | 3,672,390 | 7,076,948 | 10,573,961 | ||||||||||||
銷售商品的成本 |
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 | ||||||||||||
運營費用： |
||||||||||||||||
研究和開發費用 |
1,136,848 | 2,157,307 | 4,209,518 | 6,692,332 | ||||||||||||
一般和管理費用 |
1,233,904 | 1,137,231 | 3,375,140 | 3,773,231 | ||||||||||||
銷售和營銷費用 |
559,681 | 1,456,883 | 2,138,539 | 4,938,213 | ||||||||||||
收購無形資產的攤銷 |
291,036 | 550,786 | 950,192 | 1,536,467 | ||||||||||||
商譽減值 |
- | 250,000 | 379,038 | 250,000 | ||||||||||||
無形資產減值 |
- | 229,182 | 522,166 | 229,182 | ||||||||||||
收購或有對價公允價值的變化 |
(291,980) | 1,947,989 | (4,317,524) | (677,113) | ||||||||||||
運營費用總額 |
2,929,489 | 7,729,378 | 7,257,069 | 16,742,312 | ||||||||||||
扣除其他收入之前的運營虧損 |
(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 | ||||||||||||
淨虧損 |
$ | (1,542,256) | $ | (5,222,598) | $ | (2,400,066) | $ | (9,296,960) | ||||||||
基本和攤薄後的每股淨虧損 |
$ | (0.09) | $ | (0.37) | $ | (0.15) | $ | (0.68) | ||||||||
用於計算基本和攤薄後的每股淨虧損的加權平均股數 |
17,195,322 | 14,093,597 | 16,194,523 | 13,727,595 | ||||||||||||
THE GLIMPSE GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
GLIMPSE 集團有限公司
簡明的合併現金流量表
（未經審計）
|
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 | ||||
| 在結束的九個月裏 3月31日 |
||||||||
| 2024 | 2023 | |||||||
來自經營活動的現金流： |
||||||||
淨虧損 |
$ | (2,400,066) | $ | (9,296,960) | ||||
爲使淨虧損與經營活動中使用的淨現金相一致而進行的調整： |
||||||||
攤銷和折舊 |
1,040,759 | 1,645,846 | ||||||
爲員工和董事會提供基於普通股和股票期權的薪酬 |
1,742,126 | 2,784,667 | ||||||
應計非現金業績獎金公允價值調整 |
(551,236) | - | ||||||
收購或有對價公允價值調整 |
(4,317,524) | (677,113) | ||||||
商譽和無形資產減值 |
901,204 | 479,182 | ||||||
向供應商發行普通股作爲補償 |
88,472 | 5,238 | ||||||
對經營租賃使用權資產和負債的調整 |
(99,144) | (15,056) | ||||||
運營資產和負債的變化： |
||||||||
應收賬款 |
478,598 | (48,340) | ||||||
遞延成本/合同資產 |
86,347 | 519,673 | ||||||
預付費用和其他流動資產 |
(251,030) | (120,436) | ||||||
其他資產 |
(1,506) | 149,962 | ||||||
應付賬款 |
(214,705) | (525,832) | ||||||
應計負債 |
(388,644) | (149,673) | ||||||
遞延收入/合同負債 |
(396,546) | (2,348,561) | ||||||
用於經營活動的淨現金 |
(4,282,895) | (7,597,403) | ||||||
來自投資活動的現金流： |
||||||||
購買設備 |
(19,346) | (139,420) | ||||||
收購，扣除獲得的現金 |
- | (2,522,756) | ||||||
購買投資 |
- | (8,197) | ||||||
用於投資活動的淨現金 |
(19,346) | (2,670,373) | ||||||
融資活動提供的現金流： |
||||||||
證券購買協議的收益，淨額 |
2,968,501 | - | ||||||
行使股票期權的收益 |
- | 66,111 | ||||||
融資活動提供的現金 |
2,968,501 | 66,111 | ||||||
現金、現金等價物和限制性現金的淨變動 |
(1,333,740) | (10,201,665) | ||||||
現金、現金等價物和限制性現金，年初 |
5,619,083 | 18,249,666 | ||||||
現金、現金等價物和限制性現金，期末 |
$ | 4,285,343 | $ | 8,048,001 | ||||
非現金投資和融資活動： |
||||||||
發行普通股以償還或有負債 |
$ | 974,647 | $ | 2,093,037 | ||||
發行普通股以獲得非現金績效獎勵 |
$ | 490,360 | $ | - | ||||
使用權資產產生的租賃負債 |
$ | 113,182 | $ | 1,221,513 | ||||
出售子公司資產的應收票據 |
$ | 1,000,000 | $ | - | ||||
應收票據備抵金 |
$ | (1,000,000) | $ | - | ||||
爲收購而發行的普通股 |
$ | - | $ | 2,845,430 | ||||
收盤時記錄的或有收購對價負債 |
$ | - | $ | 6,139,000 | ||||
爲購買無形資產而發行的普通股——技術 |
$ | - | $ | 326,436 | ||||
發行普通股以償還或有負債，扣除票據失效 |
$ | - | $ | 318,571 | ||||
爲清償或有負債而註銷應收票據 |
$ | - | $ | 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:
下表顯示了截至2024年3月31日和2023年3月31日的三個月和九個月淨虧損與調整後息稅折舊攤銷前利潤的對賬情況：
| 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) | ||||||||
| 在已結束的三個月中 | 在結束的九個月裏 | |||||||||||||||
| 3月31日 | 3月31日 | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| （單位：百萬） | （單位：百萬） | |||||||||||||||
淨虧損 |
$ | (1.54) | $ | (5.22) | $ | (2.40) | $ | (9.30) | ||||||||
折舊和攤銷 |
0.32 | 0.59 | 1.04 | 1.65 | ||||||||||||
息稅折舊攤銷前利潤 |
(1.22) | (4.63) | (1.36) | (7.65) | ||||||||||||
股票薪酬支出 |
0.62 | 1.07 | 1.83 | 2.79 | ||||||||||||
無形資產減值 |
- | 0.48 | 0.90 | 0.48 | ||||||||||||
收購費用 |
- | - | - | 0.28 | ||||||||||||
應計績效獎金公允價值的非現金變動 |
- | - | (0.55) | - | ||||||||||||
收購或有對價公允價值的非現金變動 |
(0.29) | 1.95 | (4.32) | (0.68) | ||||||||||||
調整後的息稅折舊攤銷前利潤 |
$ | (0.89) | $ | (1.13) | $ | (3.50) | $ | (4.78) | ||||||||
SOURCE: The Glimpse Group, Inc.
來源：Glimpse Group, Inc.