Brightline Interactive, Inc./NV filed a Form 10-Q with the SEC on November 12, 2026, covering the quarterly period ended September 30, 2026, reporting a net loss of $1,436,789 and zero revenue from continuing operations.

Key Highlights

  • Net loss of $1,436,789 for the three months ended September 30, 2026, compared to a net loss of $1,033,309 in the same period of 2025, according to the filing.
  • Zero revenue from continuing operations in the quarter, down from $386,733 in the prior-year period, which included $383,797 in software services revenue.
  • Total operating expenses of $1,495,032 for the quarter, driven by research and development expenses of $587,675 and general and administrative expenses of $839,875.
  • Cash and cash equivalents of $2,978,250 as of September 30, 2026, compared to $3,147,333 as of June 30, 2026.
  • 223,218 shares of common stock issued under a Securities Purchase Agreement, generating net proceeds of $1,176,580 during the quarter.
  • 2,935,642 shares of common stock outstanding as of November 11, 2026, with an accumulated deficit of $83,663,699.

Brightline Interactive's Financial Position and Operations in the September 2026 Quarter

Brightline Interactive, Inc. (NASDAQ:BTLN), formerly known as The Glimpse Group, Inc., describes itself in the filing as "a software company building SpatialCore." The company reported no revenue from continuing operations for the three months ended September 30, 2026, a significant shift from the prior-year quarter when software services contributed $383,797 and royalty income added $2,936 to total revenue of $386,733. The loss from continuing operations before other income was $1,495,032 for the current quarter, compared to $964,018 in the same period a year earlier.

Operating expenses for the quarter included research and development expenses of $587,675, general and administrative expenses of $839,875, and sales and marketing expenses of $67,482, according to the filing. The company recorded a gain from discontinued operations of $37,502 for the quarter, partially offsetting operating losses, and earned interest income of $20,741. Basic and diluted net loss per share was $0.53 for the quarter, compared to $0.39 in the prior-year period, based on a weighted-average share count of 2,719,218.

The balance sheet as of September 30, 2026 showed total assets of $3,292,969 and total liabilities of $495,537, leaving total stockholders' equity of $2,797,432. Net cash used in operating activities from continuing operations totaled $1,306,811 for the quarter. The company raised $1,176,580 in net proceeds through a Securities Purchase Agreement during the period, which helped partially offset the net decrease in cash of $169,083 compared to the June 30, 2026 balance. The company is classified as a non-accelerated filer and a smaller reporting company in the filing.

What Was Disclosed

Brightline Interactive, Inc./NV filed its quarterly report covering the three months ended September 30, 2026, disclosing a net loss of $1,436,789, no revenue from continuing operations, total assets of $3,292,969, and net proceeds of $1,176,580 from a Securities Purchase Agreement.