XReality Group

Operator XR – Sales Update

xReality Group Limited (“XRG” or the “Company”)is pleased to provide the following sales update for Operator XR, a wholly owned subsidiary of xReality Group Ltd. Operator XR provides Military and Law Enforcement agencies around the world with a unique, integrated Mission Planning & Rehearsal System, which is portable, secure, and highly immersive.


Highlights

  • Sales of $1.93m in the month of May
  • 12 new customers won during the month
  • Second Australian Defence Force Sale
  • YTD Contract Value increase of 261% this month to $2.66m
  • Annual Recurring Revenue Increased by 107% this month to $1.26m


Operator XR bolstered its US operations and sales team in late November 2023 and has strategically focused its direct sales activities on the Law Enforcement market, while ongoing development of the military segment occurs around the world.

Year to date total contract value has more than doubled during the month of May resulting in an Annual Recurring Revenue increase of 107% for the month to $1.26m.

New Australian Defence Force Sale

On the 22nd of May 2024 the company received a Purchase Order from the Australian Defence Force for the delivery of two systems with a 3-year licence, further details of the sale are commercial in confidence. The second purchase of the Operator XR system is unrelated to the ongoing trial that remains underway with the wider Australian Defence Force.

New Law Enforcement Customers in the USA

During the month of May, Operator XR has received orders from 11 individual agencies in the US. The customers include Police Departments in Oregon, Maryland, Alaska, Texas, Florida, Ohio, Arkansas, Indiana, and a training organisation based in California.


Click here for the full ASX Release

This article includes content from xReality Group, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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