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Virtual Growth becoming a Reality at VR Education Holdings

This technology company is commercialising its Crossed Reality (XR) communications products and reported interims to June.  It is virtually in line with expectations as revenue increased by 83% to €1.25m and the target €10m turnover by year-end 2023 implies a turnover doubling every six months. Its planned continued investment capabilities widen pre-tax loss to €1.3m (€1.1m), although EBITDA loss is flat at €1.0m. Gross margins are around 80% so increased turnover accelerates  to profits. The price increased to 17.5p and the Mkt Cap is £51m.

In June 2021 £7.7m was raised at an over-subscribed placing at 16p. ENGAGE is the platform that is used to build VR training and virtual entertainments content. VR Education Holdings (AIM:VRE) are moving from the development stage to commercialisat...

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