Investing

Operator XR –Awarded $800,000 Government Contract

xReality Group Limited (“XRG” or the “Company”) is pleased to announce the sale of multiple systems of its Operator XR Virtual Reality Training System to a new Australian State Government customer.

Key highlights

  • Total Contract Value $809,600
  • Delivery Q1 FY2025
  • Full payment received 03 July 2024.

This latest sale, combined with continued momentum in the month of June to new US Law Enforcement customers sees a 75% increase to Operator XR’s Annual Recurring Revenue (ARR) during June from $1.26M to $2.21M.

Operator XR, a wholly owned subsidiary of xReality Group Ltd, provides Military and Law Enforcement agencies around the world with a unique, integrated Virtual Reality System for specialist training, mission planning that is portable, secure, and highly immersive.

Operator XR has received full payment for the delivery of its Virtual Reality Training System scheduled for Q1, FY2025.

XRG CEO Wayne Jones said, “Building off the recent success with the Australian Defence Force, we are excited to be broadening our user base across other agencies in Australia.”

This ASX Release is authorised by the Board of xReality Group Limited, pursuant to and in accordance with Listing Rule 3.1, all other details of the transaction are confidential.

Click here for the full ASX Release

This post appeared first on investingnews.com

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