VR Schooling : Interim Resultsfor the six months ended 30 June 2022

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13 September 2022

ENGAGE XR Holdings Plc

(“ENGAGE XR”, the “Firm”, or the “Group”)

Interim Outcomes

ENGAGE XR Holdings Plc, a digital actuality (‘VR’) communications know-how firm, is happy to announce its unaudited interim outcomes for the six months ended 30 June 2022.

Monetary Highlights:

  • Whole income for the Group up c.41% to €1.76m (H1 2021: €1.25m)
  • ENGAGE income up 62% to €1.46m (H1 2021: €0.90m)
  • ENGAGE income comprised 83% of H1 2022 whole income, a rise of 11% on the prior 12 months (H1 2021: 72%)
  • Unaudited gross margin 81% in H1 2022 (H1 2021: 80%)
  • Web money of €4.9m as at 30 June 2022

Operational Highlights:

Interact

  • New ENGAGE purchasers embrace Kuehne + Nagel Worldwide AG, the worldwide transport and logistics firm, Kia, and Natixis
  • The variety of business prospects has elevated to over 180 since ENGAGE’s launch in Might 2019 with over 50 prospects added in 2022
  • US Companion VictoryXR has launched 10 ‘Metaversities’ funded by Meta and constructed on the ENGAGE platform
  • ENGAGE now has 24/5 buyer assist with groups within the US, Australia, and Europe accessible to assist prospects.
  • A brand new improved model of ENGAGE (v2.3) was launched in July 2022 (Particulars right here: https://youtu.be/KQk5FG1Z8xc

ENGAGE Hyperlink

  • Growth of our new platform, ENGAGE Hyperlink, is progressing to plan, and it’s anticipated to go stay earlier than the top of 2022
  • HTC and The Digital Human Interplay Lab at Stanford College have already been confirmed as launch companions for ENGAGE Hyperlink.
  • At present, ENGAGE XR can affirm {that a} multi-national skilled companies agency, a worldwide know-how firm and a number one writer and schooling firm have additionally agreed to be launch companions
  • The Group continues to develop its US presence forward of the launch. ENGAGE XR’s gross sales crew is now sturdy throughout USA, Europe, and Asia, comprising 10 workers
  • The newest demonstration of ENGAGE Hyperlink is right here: https://youtu.be/ITtz7ErWhMs

David Whelan, CEO of ENGAGE XR, stated: “As we’re gear up for the discharge of ENGAGE Hyperlink, our enterprise-focused metaverse, there was elevated exercise for our present ENGAGE choices this 12 months. ENGAGE income is up virtually two-thirds regardless of the worldwide financial downturn. Firms like Meta have elevated collaboration with us, and we’ve had main new purchasers akin to Kia and Natixis come on board. The profitable launch of 10 Meta-funded “Metaversities” or “Digital Universities” on the ENGAGE platform is the beginning of what we count on to be a long-standing profitable relationship as Meta rolls out its new enterprise-focused VR gadgets.

“We’re laser-focused on offering enterprise companies inside the wider Metaverse. The place different platforms have centered on person development in any respect prices, solely to assemble a a lot youthful viewers, we’ve centered on creating instruments and companies to work with enterprise prospects and universities and the way they have interaction with workers, prospects and college students within the Metaverse. We will likely be launching “ENGAGE Hyperlink” later this 12 months, and we’re working with present purchasers and a spread of latest purchasers on the supply of this new enterprise world. Now we have already secured 5 unimaginable launch companions, together with HTC and The Digital Human Interplay Lab at Stanford College.

“On account of rising demand, we’ve elevated our gross sales, advertising, and assist groups to assist handle our present development. We count on a powerful finish to the second half of this 12 months with our present pipeline and new companies approaching stream by way of “ENGAGE Hyperlink”.

“Total, we’re rising strongly, and income is now virtually fully comprised solely from the ENGAGE platform. Quarterly revenues are usually breaking earlier information. With sturdy partnerships being fashioned each within the US and Asia, we see this pattern persevering with and even accelerating sooner or later. We, subsequently, look ahead with optimism and stay assured in assembly expectations for the 12 months.”

“It has been stated that “One of the simplest ways to foretell the longer term is to form it”. At ENGAGE, we’re actually taking that to coronary heart. The Metaverse isn’t just for video games and leisure as we prepared the ground by way of enterprise and schooling purposes. This house is about to get attention-grabbing as we get set to activate the lights at ENGAGE Hyperlink.”

Investor Communications

CEO David Whelan and CFO Séamus Larrissey will present a stay presentation regarding the Group’s interim outcomes by way of the Investor Meet Firm platform on 13 September 2022 at 10:00am (UK).

The presentation is open to all current and potential shareholders. Questions could be submitted pre-event by way of your Investor Meet Firm dashboard up till 9:00am the day earlier than the assembly or at any time throughout the stay presentation.

Buyers can signal as much as Investor Meet Firm free of charge and add to fulfill ENGAGE XR Holdings Plc by way of: https://www.investormeetcompany.com/engage-xr-holdings-plc/register-investor

This announcement incorporates inside info for the needs of the UK Market Abuse Regulation and the Administrators of the Firm are answerable for the discharge of this announcement.

– Ends –

For additional info, please contact:

ENGAGE XR Holdings Plc

Tel: +353 87 665 6708

David Whelan, CEO

data@engagexr.co

Séamus Larrissey, CFO

Sandra Whelan, COO

finnCap Ltd (Nominated Adviser & Joint Dealer)

Tel: +44 (0) 20 7220 0500

Marc Milmo / Seamus Fricker / James Balicki (Company

finance)

Sunila de Silva (ECM)

Shard Capital Companions LLP (Joint Dealer)

Tel: +44 (0) 20 7186 9952

Damon Heath / Erik Woolgar

Davy (Joint Dealer & Euronext Development Itemizing Sponsor)

Tel: +353 1 679 6363

Barry Murphy / Lauren O’Sullivan / Oisin Morgan

SEC Newgate (Monetary Communications)

Tel: +44 (0)7540 106 366

Robin Tozer / Isabelle Smurfit

have interaction@secnewgate.co.uk

About ENGAGE XR

ENGAGE XR Holdings plc (AIM: EXR; Euronext Development: EXR) is a digital actuality (‘VR’) know-how firm centered on changing into a number one world supplier of digital communications options via its proprietary software program platform, ENGAGE. ENGAGE offers customers with a platform for creating, sharing, and delivering VR content material for schooling, coaching, and on-line occasions via its three options: Digital Campus, Digital Workplace, and Digital Occasions.

ENGAGE is at the moment creating a brand new totally featured company metaverse, referred to as ENGAGE Hyperlink with the launch anticipated within the second half of 2022.

EXR is listed on AIM in London and on the Euronext Development, a market operated by Euronext Dublin.

For additional info, please go to: www.engagexrholdings.com (LinkedIn: @Interact XR

Holdings plc Twitter: @engage_xr)

Chief Govt’s Evaluate

As we put together to launch ENGAGE Hyperlink within the subsequent few months, I’m delighted to report ENGAGE has continued its spectacular development. Now we have had extra new prospects embracing the know-how and a continued improve in current prospects utilizing the platform. For instance, South Korean firm D’Carrick Co Ltd signed a brand new contract value €300,000 over a three-yearinterval in Might 2022. Kuehne + Nagel Worldwide AG, the worldwide transport and logistics firm and Adtalem World Schooling, the American schooling firm, additionally signed new contracts.

ENGAGE XR stays centered on changing into a number one world supplier of digital communications options via its ENGAGE options. ENGAGE offers customers with a platform for creating, sharing, and delivering VR content material for schooling, coaching, and on-line occasions via its three options: Digital Campus, Digital Workplace, and Digital Occasions. Our new totally featured company metaverse referred to as ENGAGE Hyperlink, will launch within the coming months tying all these companies into one distinctive company providing enabling firms to create new enterprise alternatives simply as the discharge of the world huge net did a few years in the past.

The pandemic undoubtedly accelerated using VR as a communication device, with occasions, conferences and coaching periods more and more happening in our digital worlds. This use is ready to proceed because the know-how turns into extra accessible, with the likes of Meta, HTC and others bringing new headsets to the market. Importantly, the Metaverse helps the necessity for companies and shoppers to stay extra sustainably by decreasing the necessity for every day journey.

ENGAGE

ENGAGE income has elevated 62% to €1.46 m (2021: €0.9m). ENGAGE income includes 83% of whole Group income, up from 72% throughout the identical interval in 2021. Whereas VRE sells Showcase Experiences on numerous VR platforms, which carry out nicely, the Group’s ENGAGE platform income now dominates. Showcase Expertise income totalled €0.3m (2021: €0.3m).

Over the past six months, new ENGAGE purchasers embrace Kuehne + Nagel Worldwide AG, Kia, and Natixis.

Our US Companion VictoryXR has launched 10 ‘Metaversities’ funded by Meta and constructed on the ENGAGE platform. Every faculty will roll out a digital twin, duplicate campus for college students to attend, whether or not they’re on campus or studying remotely. The partnership was funded, partially, by Meta Immersive Studying, and Meta will present Quest 2 headsets on every campus to every pupil throughout the undertaking in addition to funding for the digital twin buildouts. Every campus is constructed by VictoryXR on the ENGAGE platform. We count on this partnership to develop considerably subsequent 12 months as this preliminary pilot undertaking is now efficiently launched, with a whole bunch of scholars studying every day contained in the platform.

The Group continues to put money into the event of ENGAGE to enhance the person expertise. Reflecting its development and world attraction, ENGAGE now has 24/5 buyer assist with groups within the US, Australia, and Europe accessible to assist prospects. A brand new, improved model of ENGAGE (v2.3) was launched in July 2022 (Particulars right here: https://www.youtube.com/watch?v=KQk5FG1Z8xc)

ENGAGE Hyperlink

In June 2021, we introduced the deliberate growth of a brand new totally featured company Metaverse. ENGAGE Hyperlink will launch within the coming months and would be the first time our purchasers can have publicly accessible, always-on, persistent places to promote their enterprise and companies on to most people and to potential purchasers. Purchasers can construct their very own

distinctive Metaverse for personal firm use, or make it accessible to the broader world on ENGAGE Hyperlink, or by way of their very own web site, utilizing our deep hyperlinks system.

With ENGAGE Hyperlink, we’re constructing a totally distributive financial setting for forward-thinking enterprises and people to construct the way forward for work, commerce and communications. The place different platforms have gathered a youthful viewers, we’ve centered on creating instruments and companies to construct companies within the Metaverse.

We’re working with present purchasers and a spread of latest purchasers on the supply of this new enterprise world. Now we have secured 5 unimaginable launch companions, together with HTC and The Digital Human Interplay Lab at Stanford College. As well as, a multi-nationalskilled companies agency, a worldwide know-how firm and a number one writer and schooling firm have additionally agreed to be launch companions. Extra particulars of which will likely be offered as we get nearer to the launch.

Simply because the emergence of the web modified the world within the late 90s, the skilled Metaverse will change enterprise practices globally with how we talk with our workers, our prospects and one another.

Medium Time period Outlook

Based mostly on the sturdy traction demonstrated by the elevated use of the ENGAGE platform and the increasing product vary, Interact XR is making good progress in direction of its medium-term monetary aims for 2023 – 2025. These have been introduced in January 2021, and are as follows:

  • Goal of reaching €10 million annual ENGAGE income milestone, 500 energetic
    Enterprise prospects and 100,000 month-to-month customers throughout 2023 – 2025:
    o Goal solely displays the present ENGAGE providing and would not replicate big alternative from ENGAGE Hyperlink
  • Annual ENGAGE income CAGR in extra of 100% which is on observe to be achieved in FY22
  • 10% common month-on-month improve in customers to achieve 100,000 month-to-month customers, reflecting a goal 500 energetic Enterprise prospects; Now we have seen constructive development in customers as we construct out to realize this metric
  • Buyer retention charge of 80%+; Buyer retention in FY22 to this point has been 82% for non-trial prospects
  • Development in common annual contract worth to €20,000+, reflecting the character of rising Enterprise consumer base and optimum contract worth; Common contract worth in FY22 has grown to €18,000 so progress is on observe to attain this goal
  • Goal Group gross margin in extra of 80%; Group gross margin was 81% within the interval, so the Group has exceeded this goal

Outlook

We count on a powerful finish to the second half of this 12 months with our present pipeline and new companies approaching stream by way of “ENGAGE Hyperlink”. On account of sturdy and rising demand, we’ve elevated our gross sales crew, advertising division and assist groups to assist handle our present development.

Total, we’re rising strongly and income is now virtually fully comprised solely from the ENGAGE platform. Quarterly revenues are usually breaking earlier information. With sturdy partnerships being fashioned each within the US and Asia, we see this pattern persevering with and

That is an excerpt of the unique content material. To proceed studying it, entry the unique doc right here.

Disclaimer

ENGAGE XR Holdings plc revealed this content material on 13 September 2022 and is solely answerable for the knowledge contained therein. Distributed by Public, unedited and unaltered, on 13 September 2022 06:19:00 UTC.

Publicnow 2022

All information about VR EDUCATION HOLDINGS PLC

Gross sales 2022 4,89 M
4,96 M
4,96 M
Web earnings 2022 -4,40 M
-4,46 M
-4,46 M
Web money 2022 3,60 M
3,64 M
3,64 M
P/E ratio 2022
Yield 2022
Capitalization 37,8 M
38,3 M
38,3 M
EV / Gross sales 2022 6,98x
EV / Gross sales 2023 3,66x
Nbr of Staff 49
Free-Float 41,7%

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