Benzinga | Jul 12, 2021 03:08PM EDT

The Glimpse Group Reports Robust Preliminary FY21 Revenue, CEO Holding

* The Glimpse Group Inc's (NASDAQ:VRAR) Form SC 13D disclosed that CEO Lyron Bentovim owned an 11.29% stake.

* The Virtual Reality and Augmented Reality (VR and AR) solutions provider estimated FY21 revenue to grow organically over 65% year-on-year to $3.25 million.

* It estimates continued organic momentum in FY22, excluding acquisition-driven growth.

* VR & AR software and non-project services revenue grew by over 200% Y/Y representing 50% of FY21 revenues, from 25% in FY20.

* It held $13.7 million in cash and equivalents.

* Price action: VRAR shares traded lower by 5.66% at $9.16 on the last check Monday.