The Glimpse Group, Inc. (VRAR) experiences a decline of 14.51% in the aftermarket because the company reports Public Listing on The Frankfurt Stock Exchange. However, the last trading session closed at $14.68 with an incline of 51.18%.
Public Listing on The Frankfurt Stock Exchange
On 28th October 2021, VRAR announced that it is now traded on the Frankfurt Stock Exchange under the ticker “9DR.” The Frankfurt Stock Market (FSE) is not only Germany’s largest stock exchange but also one of the world’s major securities trading centers. Its electronic trading platform, XETRA, is one of the world’s largest entirely electronic securities exchanges, having direct connections to most of Europe’s main financial centers. Not only this but Glimpse’s shares are now being traded on Börse Stuttgart, Börse München, Gettex Exchange, and Tradegate Exchange, among other important German markets.
VRAR shares traded on the Nasdaq platform, as part of Glimpse’s currently existing common stock float, can be purchased directly through these exchanges by European equity investors. As significant financial centers in Switzerland, Luxembourg, Lichtenstein, Monaco, and other European countries are successfully accessed, the company believes that this will boost the Company’s trading liquidity and promote investment in Glimpse by German and other European investors.
Virtual Reality Therapy
VRAR announced a collaboration with the GameChanger Private Network on 26th October 2021. This is done to provide Virtual Reality (VR) and Augmented Reality (AR) games and tools to top pediatric hospitals, transforming the hospital experience for chronically ill and lonely children. The GameChanger Private Network is a secure multi-channel, an interactive network that provides patients, families, and caregivers with the latest video games, movies, virtual reality, and augmented reality experiences, as well as other types of distraction treatment.
Children separated in treatment and long-term care have had increased acute anxiety as a result of pandemic circumstances. COVID-19 limits include no visits, no friends or classmates, and no pet therapists for immunocompromised patients. Innovations like VR and AR may provide hope, connection, and joy to those who need it most in what continues to be a terrible and traumatic time. Lastly, Foretell’s virtual reality technology brings consumers to a different world, away from the humdrum medical setting. Its technologies improve patient therapy and assistance, soft skills training, learning, and cooperation through human connection.
Preliminary Unaudited Q1 Fiscal Year 2022 Strong Revenue Growth Results
VRAR released the preliminary results of Q1 Fiscal year 2022 on 14th October 2021. Total revenues for the Q1 Fiscal year 2022 are expected to be over $1.0 million, up from $0.26 million in Q1 FY ’21. This expansion was mostly organic, although it was hampered by a revenue delay from Q1 FY’21 to Q2 FY’21 owing to COVID-19 restrictions. Without accounting for further growth resulting from future accretive acquisitions, the Company intends to maintain its strong organic growth in FY 2022.
Moreover, the Core VR & AR software and services revenue increased by around 500 percent year over year, accounting for about 80% of total Q1 FY ’22 revenues, up from about 50% in the prior year’s first quarter. Lastly, the final revenue and any other financials are subject to review and adjustment and will be disclosed together with the Company’s financial statements and quarterly report.
