Glimpse Group, Inc. Goodwill & Intangibles Disclosure
NOTE 7. GOODWILL AND INTANGIBLE ASSETS
The composition of goodwill as of June 30, 2025 and 2024 is as follows:
| As of June 30, 2025 | ||||||||||||
| XRT | BLI | Total | ||||||||||
| Goodwill | $ | 300,000 | $ | 10,557,600 | $ | 10,857,600 | ||||||
| As of and for the Year ended June 30, 2024 | ||||||||||||||||
| XRT | PulpoAR | BLI | Total | |||||||||||||
| Goodwill - beginning of year | $ | 300,000 | $ | 379,038 | $ | 10,557,600 | $ | 11,236,638 | ||||||||
| Impairments | (379,038 | ) | (379,038 | ) | ||||||||||||
| Goodwill - end of year | $ | 300,000 | $ | $ | 10,557,600 | $ | 10,857,600 | |||||||||
The composition of Intangible assets, their respective amortization period, and accumulated amortization as of June 30, 2025 and 2024 are as follows:
| As of June 30, 2025 | ||||||||||||||||||||
| Value ($) | Amortization Period (Years) | |||||||||||||||||||
| XR Terra | BLI | Glimpse Learning | Total | |||||||||||||||||
| Intangible Assets | ||||||||||||||||||||
| Technology | 300,000 | 880,000 | 326,435 | 1,506,435 | 3 | |||||||||||||||
| Less: Accumulated Amortization | (300,000 | ) | (855,542 | ) | (290,176 | ) | (1,445,718 | ) | ||||||||||||
| Intangible Assets, net | $ | $ | 24,458 | $ | 36,259 | $ | 60,717 | |||||||||||||
| As of and for the Year ended June 30, 2024 | ||||||||||||||||||||||||
| Value ($) | Amortization Period (Years) | |||||||||||||||||||||||
| XR Terra | Pulpo | BLI | Glimpse Learning | Total | ||||||||||||||||||||
| Intangible Assets | ||||||||||||||||||||||||
| Customer Relationships - beginning of year | $ | $ | $ | 3,310,000 | $ | $ | 3,310,000 | 5 | ||||||||||||||||
| Customer Relationships - impairment | (3,310,000 | ) | (3,310,000 | ) | ||||||||||||||||||||
| Customer Relationships - end of year | ||||||||||||||||||||||||
| Technology - beginning of year | 300,000 | 925,000 | 880,000 | 326,435 | 2,431,435 | 3 | ||||||||||||||||||
| Technology impairment | (925,000 | ) | (925,000 | ) | ||||||||||||||||||||
| Technology - end of year | 300,000 | 880,000 | 326,435 | 1,506,435 | ||||||||||||||||||||
| Less: Accumulated Amortization | (274,995 | ) | (562,214 | ) | (181,359 | ) | (1,018,568 | ) | ||||||||||||||||
| Intangible Assets, net | $ | 25,005 | $ | $ | 317,786 | $ | 145,076 | $ | 487,867 | |||||||||||||||
Intangible asset amortization expense for the years ended June 30, 2025 and 2024 was approximately $0.43 million and $1.24 million, respectively.
Estimated intangible asset amortization expense as of June 30, 2025 for the remaining lives are as follows:
| Years Ended June 30, | ||||
| 2026 | $ | 60,717 | ||
THE GLIMPSE GROUP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 29, 2025 | Showing above |
| 2024 | Sep 30, 2024 | |
| 2023 | Sep 28, 2023 | |
| 2022 | Sep 28, 2022 | |
| 2021 | Sep 28, 2021 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.