Member Info for Retrostat

'A significant renewal by the Group’s largest customer in May 2026 will improve the

short-term cash position of the Group, later in the year.'

Muck165, I am reading it that the customer has already renewed (a subscription? Contract?) in May and the revenue from that will land within H2 this year.

Https://www.linkedin.com/posts/karthikmanimozhi_david-whelan-and-his-engage-xr-executive-ugcPost-7466343546804023296-wDAL/?utm

I also particularly liked the optimistic outlook section of Karthik's chairman's statement released yesterday;

Outlook

ENGAGE XR enters the second half of 2026 a leaner, more focused and more technologically capable business than at any point in its history. The structural drivers of our market - the proven effectiveness of immersive learning, the rapid maturation of generative AI, and the imperative for educators to deliver measurable outcomes at scale - are firmly in our favour. The Board is confident that the actions taken during 2025, combined with the commercial momentum now building, position the Group to deliver sustainable, recurring revenue growth and, in time, attractive returns for our shareholders.

 

 

Karthik Manimozhi

Non-Executive Chairman

"It's clear there are so many exciting opportunities in the education sector with Meta"

https://www.linkedin.com/posts/sandra-whelan-a34820109_meta-thankyou-meta-activity-7326570409506533376-I18O?utm

Https://www.linkedin.com/posts/frank-forsey-41a69939_meta-engagexr-meta-activity-7326310701801615360-faUs?utm

"BioLab is exclusive to ENGAGE and comes free with every educational subscription."

https://www.linkedin.com/posts/davidwhelan1980_edtech-virtualreality-anatomyeducation-activity-7323692327116414976-gau5?utm

"White House Task Force on AI Education"

• "The task force will plan and help agencies implement a Presidential AI Challenge, which will encourage and highlight student and educator achievements in AI, promote wide geographic adoption of technological advancement, and foster collaboration between government, academia, philanthropy, and industry to address national challenges with AI solutions.

• The task force will also establish public-private partnerships to provide resources for K-12 AI education, both to enhance AI-related education but also to better utilize AI tools in education generally."

https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-advances-ai-education-for-american-youth/

That's interesting Reg. It reminded me of a post from David Whelan that Engage now supports Arabic.

https://www.linkedin.com/posts/davidwhelan1980_leap-activity-7294624919248617472-qgqR?utm

There was also this from PwC back in Nov 24, so perhaps there has been further development/collaboration there.

https://www.pwc.com/m1/en/media-centre/2024/pwc-middle-east-to-acquire-saudi-consultancy-emkan-education-to-further-invest-in-the-regions-education-and-skills-transformation.html

For info the following are LinkedIn posts re the PwC EmTech Labs report featuring AI and Immersive tech.

https://www.linkedin.com/posts/sami-al-shatri_emerging-technology-trends-in-the-middle-activity-7315699521622065152-ijc9?utm

https://www.linkedin.com/posts/rahaf-abutarbush_pwcmiddleeast-emergingtech-thoughtleadership-activity-7315747199240306688-YfWQ?utm

https://www.linkedin.com/posts/sheanmalik_emerging-technology-trends-in-the-middle-activity-7317026249191698433-yzbR?utm

Great find Muck and that looks very impressive. The XR examples on Basti Schütz LinkedIn posts look amazing. When seeing examples like this surely XR is going to be mainstream/take-off soon? XR and with AI integration is such a world apart from the metaverse 'hype' stigma of 2020 era. I think general consumers and investors still have that stigma in mind and I'm looking forward to that changing. The examples we are seeing would demonstrate that stigma outdated. The tech seems to be developing fast. The MXink pen and board, the link in your post Muck and the other posts on Basti's/Meta LinkedIn for example. The affordable pass-through tech and standalone performance of the quest 3 and 3S look revolutionary compared to the previous generation of headsets such as the quest 2. Engage are established in the space, they have the position, the reputation, the best partners, the right Clients. They have the creativity and the seasoned leadership. They just need the money to keep it going. We hope this money comes from their business operations and not the sale of equity. It would be such a shame at this valuation, if sustainability and success are just around the corner. Surely they can do it! Where is that seemingly vanished large contract to see them through?

Good to see XR/XR AI Integration feature prominently in this report from PwC.

https://www.pwc.com/m1/en/publications/emerging-technology-trends-in-the-middle-east-2025.html

Thanks for the info on the Meta fees Panda.

• Meta Quest Store:

Meta charges a 30% "hardware platform fee" on all sales made through the Meta Quest Store, where VR apps and games are sold for its virtual reality headsets.

• Horizon Worlds:

In addition to the hardware platform fee, Horizon Worlds, Meta's metaverse platform, charges a 17.5% fee on top of the 30% hardware fee, resulting in a total fee of 47.5% for virtual asset sales. 

Https://www.linkedin.com/posts/davidwhelan1980_quest3-vr-metaquest3-activity-7317540390042038272-2NuH?utm

There is another example video on youtube of the scale of attention to the original version, pre-dating the availability of the Quest 3 and 3S.

27.9 million views. April 2022.

It is very moving. Keep in mind it is the old version and does not seem to be the best recording, but it highlights the attention to it. It is also not the interactive diving experience but the cinematic experience, which will be added later for Quest 3 and 3S according to Muck's Reddit link.

The new release may also attract similar interest. If the price of $14.99 is correct it seems priced appropriately for mass sales. We could also assume a number of currently non VR users would be compelled to make the initial purchase of the relatively affordable Quest 3S/3 just to experience this title. Just under 28 million views of a video for a VR title is colossal. In 2022 a purchase of a more complicated far more expensive PC VR setup would have been a deal breaker for the vast majority of people. The situation is very different now. A couple of clicks on Amazon and the 3S is now £259.99.

Example 500,000 sales?.. $7.5m

The nature of the showcase revenue is also different to the education/enterprise offerings which take a bit more time to adopt and implement. This revenue could be recieved much faster. It could potentially be transformative quite quickly.

The showcase experiences are also available to educators as part of the educational offering package, further enhancing that offering too.

Hi Muck, the potential is very interesting.

Original release of Titanic VR was on 24th November 2017. Crucially this was only really optimal on PC/PS tethered VR headsets apparently (ref link below). So was not particularly suitable for the more widely available standalone headsets of the time. I think it's fair to say that PC tethered VR 7 years ago, and in the years since was somewhat niche! So access to it would have been restricted. This obviously would have been a significantly limiting factor on revenue generated from the first release. For example, Showcase experience revenue, including Titanic VR 2021: €469,467.

The potential revenue from the new Titanic VR release out tomorrow is interesting when we consider the following;

- The Meta Quest 3 was released on October 10th 2023

- The Meta Quest 3S was released on October 15th 2024

Rough estimates of Quest 3 and 3S headsets sold show upwards of 1 million units.

Cost of latest release of Titanic VR to be confirmed but previous release was $20.

The original release gained a lot of attention, for example this video from 3 years ago, with 13million views.

https://youtu.be/_LNfiuFtbZI?si=b4e8fdgQDqSYiHZ9

If for example 5% of Quest 3 and 3S headsets gets a copy of the new version of Titanic VR at the guess price of $20, this maybe could be estimated to total upward of $1,000,000.

Or if 1 in 10 Quest 3 and 3s headsets, $2,000,000 ?

2 in 10: $4,000,000 ?

etc...

I don't know what projection would be realistic but as you say Muck, it will be interesting to find out!

Surely adding together all the revenue pies Engage have their fingers in we can pull together the 8m or so needed to breakeven?

https://www.uploadvr.com/titanic-vr-experience-coming-to-quest-3-quest-3s/

https://www.meta.com/en-gb/experiences/titanic-vr/9391298297622125/?srsltid=AfmBOoqQydTMRTB3zz8hyUcHi1Olyc7gPdRdK440NycxWPO0WhwfJJzo

Https://www.tes.com/magazine/analysis/specialist-sector/edtech-how-we-created-virtual-reality-lessons-for-our-international-schools

Https://www.relocatemagazine.com/how-edtech-can-enrich-learning-experiences-inspired-education-spr25

"We are in the midst of a tech revolution akin in scale to the industrial revolution; the variety of ways in which Edtech developments can support students’ learning is incredible."

"There are a number of pioneering innovations that are currently being developed and trialled across the Inspired’s group of 120+ schools in 6 continents, placing us at the forefront of the Edtech revolution."

Relevant to U.S Ed policy, OptimaEd Chairman/Founder and U.S Ed Sec at ASU + GSV Summit

https://x.com/ErikaDonalds/status/1909739119657234902

Https://www.asugsvsummit.com/

"April 5-7, 2025

San Diego Convention Center

Discover groundbreaking innovations and infinite possibility at THE AI SHOW @ ASU+GSV, our second annual exploration of the AI Revolution in education. Join 10,000+ educators, workforce leaders, EdTechs, innovators, and AI explorers at the world’s greatest gathering for all things AI in EDU."

This is a great opportunity for Engage to showcase their educational AI tech in the US alongside Meta. The MXink pen should attract plenty of attention. I imagine lots of people there will want to try it. Including those with the desired connections.

The Titanic offering looks epic and will also be a great showcase at the event.

It's definitely a good step in the right direction to communicate this directly with the market. I'm happy to see the official promotion of this to the market via an RNS.

That's great Muck, thanks for making the contact and sharing. It's refreshing to see an interaction with a shareholder. 1st April avoidance does make sense and also the silent release test period.

Alignment...

OptimaEd (Engage XR Client and Meta for Education partner):

"Our goal is to develop innovative and effective tools and resources to better serve and advance the field of education and to make classical education available to every family."

https://www.linkedin.com/company/optimaed/

President of the United States:

https://x.com/ErikaDonalds/status/1906817615210664222

U.S. Secretary of Education:

https://x.com/Linda_McMahon/status/1906393803927306721

Erika Donalds: Founder and Chairman of OptimaEd. America First Policy Institute Chair of the Center for Education Opportunity and Chair of the AFPI-Florida State Chapter.

https://www.foxnews.com/video/6370865239112

Also..

Today, Early Childhood, Elementary, and Secondary Education Subcommittee Chairman Kevin Kiley (R-CA) delivered the following statement, as prepared for delivery, at a hearing titled "From Chalkboards to Chatbots: The Impact of AI on K-12 Education":

https://edworkforce.house.gov/news/documentsingle.aspx?DocumentID=412311