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The Glimpse Group , Inc. (NASDAQ:VRAR), a technology company with a market capitalization of $28.21 million and annual revenue of $8.76 million, announced that on August 13, it entered into a contract valued at over $2 million for the delivery of its SpatialCore product over the next 12 months. The agreement, representing nearly 23% of current annual revenue, was disclosed in a press release statement filed with the Securities and Exchange Commission.
According to the filing, the contract will be fulfilled during the year following the signing. No additional details regarding the counterparty or specific terms were provided in the statement. The company maintains a healthy balance sheet, with more cash than debt and strong liquidity metrics, according to InvestingPro data.
The Glimpse Group, based in New York and incorporated in Nevada, provides computer programming services and is listed on The Nasdaq Capital Market. The company is classified as an emerging growth company under SEC regulations.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Brightline Interactive, a subsidiary of The Glimpse Group, Inc., has developed a synthetic training ecosystem for the U.S. Department of Defense. This new platform allows soldiers to train, plan, and execute missions in a virtual environment. It features collaboration interfaces and digital twin integration to enhance training effectiveness. The system also incorporates AI-augmented workflows and geospatial data-enriched simulations. Additionally, it utilizes open standards architecture, which supports seamless integration with existing systems. This development marks a significant advancement in military training technology. The company’s initiative reflects ongoing efforts to improve defense capabilities through innovative solutions.
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