The Glimpse Group Inc Down 44.00% To $1.80 After Earnings

Glimpse Group Inc (VRAR) reported less than expected earnings this afternoon for Q4 2023.

The Glimpse Group Inc's earnings came in at an EPS loss of $0.3 per share. The firm's loss per share expanded by 329% since reporting a loss of $0.07 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

The Glimpse Group Inc reported a revenue of $2.9 million in Q4 2023. The firm managed 16% growth year-over-year due to The Glimpse Group Inc reporting quarterly revenue of $2.5 million in its year-ago quarter. The Glimpse Group Inc achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is down 44.00% to $1.80 after the report.

The Glimpse Group Inc's earnings expanded faster than revenues, signaling widening profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned The Glimpse Group Inc a Bullish Sentiment Rank from InvestorsObserver.

The Glimpse Group Inc has performed a little below average during the past few months. Before the report, The Glimpse Group Inc received a Long-Term Technical Rank by InvestorsObserver of 29, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $2.47 on September 19, 2023 and set a 52-week high on February 7, 2023 at $6.9.

The Glimpse Group Inc is a diversified Virtual and Augmented Reality platform company, comprised of multiple VR and AR software and services companies, and designed with the specific purpose of cultivating companies in the emerging VR/AR industry.