The Glimpse Group Inc. released its financial results for the third quarter of fiscal year 2025, which ended on March 31, 2025. The company reported a revenue of approximately $1.4 million, marking a 25% decrease from the $1.9 million reported in the same quarter of the previous fiscal year. This decline was expected and attributed primarily to revenue recognition timing. Despite the reduction in quarterly revenue, Glimpse anticipates a significant improvement in the fourth quarter of fiscal year 2025, with revenues projected to be between $3.2 million and $3.8 million. This increase is expected as the company delivers and recognizes the final stage of a large contract with the Department of Defense for the Spatial Core product. For the nine months ending March 31, 2025, revenue remained relatively stable at approximately $7 million compared to the same period in the previous year. However, the company forecasts a 15-25% increase in full-year revenue for fiscal year 2025, expecting it to reach between $10 million and $11 million. The gross margin for Q3 FY '25 stood at approximately 72%, up from 70% in Q3 FY '24. The company maintains an outlook for gross margins in the 65-75% range going forward, driven by a larger portion of revenue coming from Spatial Core and software license sales. In terms of cash flow, The Glimpse Group achieved a positive net operating cash flow of approximately $0.13 million for Q3 FY '25, marking the second consecutive quarter of positive cash flow. This contrasts with a net operating cash loss of approximately -$0.92 million in Q3 FY '24. Notably, the company reported a net loss of $1.5 million for the quarter, a slight improvement from the $1.54 million loss in the same quarter of the previous year. The company's cash position as of March 31, 2025, was approximately $7 million, and it remains debt-free with no convertible debt or preferred equity. Significant business updates include the expected delivery of a $4 million+ DoD contract by BLI, positioning Spatial Core as a foundational operating system for spatial computing. Additionally, the company successfully delivered a full-motion Immersive Simulator System to the US Navy and entered contracts for its AI-driven immersive training product with Foretell Reality. Other follow-on agreements were secured with major companies such as Halliburton, Ecolab, Galderma, Walmart, and AT&T.