The Glimpse Group’s QQ4 2024 results reflect a deliberate strategic pivot toward Spatial Core, its enterprise-scale spatial computing, cloud, and AI-driven software platform led by Brightline Interactive. Quarterly revenue of $1.73 million for Q4 2024 underscored a continuing structural shift away from legacy, immersive marketing-focused customers toward recurring, enterprise software deployments. Gross margin for the quarter stood at 69.0%, delivering a higher operational efficiency on a lower revenue base, while the company posted an operating loss of $4.03 million and an EBITDA loss of $1.62 million. Management trades a near-term revenue decline for a longer-term margin of safety and growth through multi-year DoD and enterprise pipelines, with Q1 FY25 revenue expected to be “significantly higher than Q4 FY24” and quarterly targets of over $3 million for Q2 and Q3 FY25. The balance sheet remains cash-positive with net cash of approximately $1.31 million after considering debt, and no outstanding corporate debt, providing financial flexibility to fund the growth runway. The company also disclosed strategic actions, including divestitures of non-core entities and ongoing exploration of strategic options to maximize shareholder value in light of Nasdaq price compliance challenges. While the path to profitability is not assured in the near term, the core thesis rests on Spatial Core’s AI-enabled software traction, a layered government and enterprise contract funnel, and a potential re-rating if contract signings materialize and recurring software ARR solidifies.