The Glimpse Group delivered a meaningful quarterly inflection in QQ2 2025 (period ended December 31, 2024). Revenues rose to approximately $3.17 million, up 52% year over year and about 30% quarter over quarter, driven by stronger Spatial Core contributions and growth across other businesses. GAAP EBITDA turned positive for the first time in the company’s history as a public company, with EBITDA of roughly $56.7 thousand and adjusted EBITDA of about $0.28 million, supported by substantial operating cash flow of $0.172 million for the quarter. Management attributes the improvement to ongoing strategic and operational restructuring and the incorporation of AI elements across the product suite, positioning Glimpse to benefit from AI-driven immersive technologies as adoption accelerates.
The quarter also showcased a strong cash position, approximately $8.5 million in cash and no debt, aided by a December 2024 registered direct equity financing that raised roughly $7.3 million gross proceeds. Management maintains a clean capital structure and expects positive cash flow in each remaining quarter of fiscal 2025, with guidance pointing to a strong Q4 and FY2025 revenue beating FY2024 by a substantial margin. Management also highlighted ongoing DoD/government opportunities via Brightline Interactive (BLI) and commercially focused AI-driven training through Foretell Reality, while acknowledging continued funding and budget timing uncertainties related to the government continuing resolution.
Looking forward, management provided conservative near-term guidance for Q3 2025 and a more constructive Q4, with FY2025 revenue projected to exceed $11 million and adjusted EBITDA breakeven for the year. The company reiterated OpEx discipline, targeting a run-rate below $0.9 million per month, and emphasized the potential for portfolio monetization or strategic acquisitions alongside ongoing organic growth in AI-enabled immersive solutions. Overall, QQ2 marks a positive inflection point, but the trajectory will hinge on government budget timing, the pace of DoD/commercial bookings, and the successful scaling of AI-enabled offerings.