XReality Group Limited (ASX:XRG) is an Australian defence and enterprise technology company. Our primary business is Operator XR, a Virtual Reality and Mixed Reality based training product used by over 100 military and law enforcement agencies in the United States, Australia, Japan, and Scandanavia. We also operate iFLY and FREAK, two established consumer simulation businesses.
XRG is headquartered in Sydney with a US office in Virginia. The Group was founded in 2011 by Wayne Jones and Danny Hogan MG, both former operators of the Australian Special Air Service Regiment. The Group listed on the ASX in January 2013 and trades as XRG following the rebrand from Indoor Skydive Australia Group in December 2021.
XR stands for eXtended Reality and is a catch-all term for Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR).
Corporate Snapshot
| ASX CODE | XRG |
| LISTED | 18 January 2013 (as IDZ). Rebranded to XRG on 8 December 2021. |
| HEADQUARTERS | Sydney, Australia |
| US OFFICE | Virginia, United States |
| PRIMARY BUSINESS | Operator XR. Virtual reality training for defence and law enforcement. |
| OTHER BUSINESSES | Red Cartel, iFLY Indoor Skydiving, FREAK Entertainment |
| FOUNDED | 2011, by Wayne Jones and Danny Hogan MG, both former operators of the Australian Special Air Service Regiment |
Operator XR
Operator XR is a sovereign Australian virtual reality training system for defence and law enforcement. It allows soldiers, special operations personnel and police officers to train operational tactics, decision-making and use-of-force in a portable, repeatable virtual environment that complements live training.
The system is in use with over 100 military units and law enforcement agencies in Australia and the United States. Recent contracts include a US$5.6M subcontract on a US Department of Defense program awarded in November 2024, and a $5.71M contract with the Texas Department of Public Safety awarded in August 2025. Operator XR has a strategic collaboration with the Advanced Law Enforcement Rapid Response Training (ALERRT) Center at Texas State University, the US national standard for active threat response training. Operator XR’s customers include the US Air Force, National Guard, FBI, Australian Federal Police, and the Australian Defence Force.
Operator XR is XRG’s primary strategic and growth focus. Its software and speciality hardware is designed and built in house in Australia and is 100% owned by XRG.
Red Cartel
Red Cartel is one of Australia’s leading XR production studios with more than 20 years of industry experience. XRG acquired Red Cartel in August 2021 to bring all XR development capability in-house. Red Cartel builds the proprietary software behind Operator XR.
iFLY Indoor Skydiving
iFLY Downunder in Sydney and iFLY Gold Coast are owned and operated by XRG under licence from the global iFLY brand. iFLY Downunder opened in April 2014 as the first commercial vertical wind tunnel in Australia and serves more than 200,000 customers a year. Customers include local and international tourists, professional skydivers and members of the Australian Defence Force.
FREAK Entertainment
FREAK Entertainment is XRG’s virtual reality entertainment brand, launched in 2019. More than 300,000 customers have visited a FREAK venue since launch.
Where we operate
XRG is headquartered in Sydney, with a US office in Virginia supporting Operator XR’s North American business, Operator XR LLC.
Strategy
XRG’s strategy is to scale Operator XR with defence and law enforcement customers in Australia, the United States and other allied markets. Our focus is on growing Operator XR’s US customer base, developing XR-integrated AI and cloud training services, and building out the team and infrastructure required to support a larger international defence customer base. iFLY and FREAK continue to operate as established consumer businesses that generate operating cash flow.
Listed on the ASX
XReality Group Limited trades on the Australian Securities Exchange as XRG. The Group listed in January 2013 as Indoor Skydive Australia Group Limited (IDZ) and was rebranded to XReality Group on 8 December 2021. ASX announcements, annual reports and investor presentations are available on the Investors page.
