Veritas Equity Research Report

xReality Group Limited (XRG) specialises in building and operating immersive XR products and experiences that enhance lives. xReality Group’s portfolio includes physical and digital simulation used across the enterprise, defence and consumer markets. Using technology we create experiences without the physical limitations found in the real world.
XR stands for eXtended Reality, and is a catch-all term for Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR). Extended Reality combines physical and digital simulation for both consumer and enterprise market segments. The XR category is growing rapidly with the market predicted to grow from US $26B in 2020 to US $905B in 2027. Facebook’s parent, Meta, is investing $10Bn US/year alone into accelerating development of the Metaverse.
The Company was founded by two ex-SAS soldiers to bring the joy of simulated human flight to the region through cutting-edge indoor skydiving facilities. In recent years, the Company has expanded its simulation portfolio from indoor skydiving to include out of home virtual reality entertainment, defence XR training and XR software development.
xReality Group companies include Operator XR, a Defence and Law Enforcement simulation training company, Red Cartel, an XR production company, two Australian iFLY Indoor Skydiving Facilities, and four FREAK Virtual Reality venues.
The Company listed on the ASX on 18 January 2013 as Indoor Skydive Australia Group Limited (ASX:IDZ) and was rebranded to xReality Group Limited ASX: XRG on 8th December 2021.
FOURTH FREAK VENUE TO OPEN LATE NOVEMBER 2021
We are pleased to announce that FREAK Entertainment is opening its fourth venue, FREAK Macquarie Centre, in late November 2021.
ISA Group have entered into agreements with centre owner AMP Capital for a 5 year lease of the retail site, located in the affluent north shore area of Sydney.
Macquarie Centre, based in North Ryde is a leading Sydney shopping centre, servicing corporate headquarters, Macquarie University and a large local area population. The centre is close to train lines, buses, and the new Sydney metro.
FREAK Macquarie is a 127m2 venue that will include FREAK’s flagship free roam “Arena”, with games Arizona Sunshine Arena and Ghost Patrol. Both games are exclusive to FREAK in Australia.
In addition, the venue will feature a 4 player Assassins Creed themed VR escape room, and 4x full motion VR racing simulators with world leading car racing game Project Cars Pro.
The facility will be located on Level 4 within the entertainment hub of the shopping centre. FREAK will enjoy extended trading hours within close proximity to Timezone, cinemas, a premium gym and dining areas.
The cutting edge VR technology is being delivered by HP and HTC Vive, whom FREAK has established strategic partnerships with over the last 2 years.
“After a brief pause due to lockdowns, we are excited to continue with the FREAK rollout in line with the company’s strategy, and to have FREAK’s fourth location open in time for the summer holiday period. We expect the trading to reach record levels as consumers come out of lockdown and enter the school holidays across NSW” said Wayne Jones, CEO.
It’s the event of the year not to miss!
At iFLY Downunder, we’re hosting our inaugural Flight Club Showdown on Saturday 7th and Sunday 8th August 2021.
If you have been to any of our events in the past, you will know how much of a blast it is. Whether you’re a competitor, a friend of a flyer, or it’s your first time ever hearing about indoor skydiving, fun is had by all!
COVID unfortunately got in the way of the 2020 national championships, and this year we’ve handed the nationals baton over to iFLY Perth, but we still wanted to have something both fun and competitive (with professional judging and all your favourite skydiving categories!) for the flyers on the east coast, plus it’s the perfect opportunity to warm up for the national championships in Perth…so, here we have the Flight Club Showdown.
Flyers of ALL skill levels, including rookies, are welcome and encouraged to compete. There’s a category for everyone and we are happy to find you a suitable team mate. Go on… Give it a go! It is going to be the event of the year so make sure that you’re there.
The event is free for spectators to watch so why not bring the whole crew to see what the sport of indoor skydiving is all about.
Click below for everything you need to know:
MORE INFO |
Jimmy Cooper talks about his passion for the sport of skydiving and gives E Sports reporter, Francesca Hung, an indoor flight experience to remember! “I couldn’t wipe the smile off my face.” says Francesca
Check out her awesome article below:
“I’d always dreamt of earning my wings, but I never thought I’d get them in a bright orange jumpsuit!
If you had told me a year ago that I would be trying indoor skydiving I would have laughed and told you absolutely not. Adrenaline sports have never been my forte and I can say with all honesty, I have never thought I would fly! How things change…
When Jimmy took me for my first iFLY experience I was trying to look cool, calm and collected on the outside but on the inside… I was absolutely shaking in my boots. The scariest part was jumping into the iFLY dome, but once that zero gravity hit and my whole body went weightless, I couldn’t wipe the smile off my face.
Indoor skydiving was possibly the most fun experiences I have ever had! I was lucky enough to have Jimmy Cooper, Champion Skydiver, guiding me the whole way through and he even took me for a high-fly which meant zooming up to the top of the wind tunnel and then skyrocketing down to the bottom, which is apparently the closest feeling to actual skydiving you can achieve. It was amazing!”
Jimmy was incredibly inspiring as he discussed the art of skydiving and showed us the unbelievable ways one can compete in skydiving competitions. I thought I was pretty good for my first time until i watched Jimmy take to centre stage and show us 360-degree spins, flying backwards and somersaults that blew our minds!
For Jimmy, skydiving is all about the preparation he puts in, his commitment to the sport, and last but not least: his confidence.
Indoor skydiving is also a uniquely accessible and inclusive sport for people of all abilities. Whether you’re a wheelchair user, have low vision or low hearing, varied cognitive abilities, or more, the full-controlled, ultra-safe environment of indoor skydiving allows almost everybody to fly their way. With very little limitation on who can fly, indoor skydiving is a sport with endless progression opportunity and is rapidly growing in Australia and around the world,
The main takeaway from my experience of indoor skydiving and meeting Jimmy, was that you should push yourselves to try new things and take things to a new height you never thought you could reach – literally! I don’t think I’m game enough just yet to try skydiving out of a plane, but you could probably catch me trying out a few new tricks at iFLY… this girl is hooked!
Francesca Hung
E! Sports
Quite often we get asked how we got into indoor skydiving as our family sport. Originally our son James first flew at iFLY Singapore at the age of six and totally loved it. Fast forward a few years and James at the age of twelve wanted to do a tandem skydive, as a mother, I could feel my heart rate triple with the thought. So, the next best thing….iFLY Downunder here we come!
James was booked for his first introductory flight with instructor Zac. From the first feel of the wind, right then and there James had found his calling. Next thing, Fast Tracks were done in the click of the fingers and coaching began with Kyle Chick from Team FOCUS.
After watching James have a great time, we wondered what it would be like. Raf booked in first and you guessed it, he was hooked too! So more Fast Tracks for him; then I too wanted in on the fun. Soon after Raf and I got signed off on our belly and back flying. We decided to create a routine in the tunnel for fun, but also that we could fly as a family. So, a routine was hatched in our kitchen of all places, where we would walk through the moves we would fly in the tunnel. Many laughs were had practicing and we often thought if people could see us now. So now it is called our “Kitchen” routine and even to this day, it is one of my favourite things to fly.
James has now been flying for nearly three and a half years and has a passion and dedication for Dynamic and VFS and has competed against adults and won his categories. At iFLY Downunder, James has great mentors, especially Kyle Chick who has trained him for most of those years to a level of having the privilege of James being sponsored.
The flying community at iFLY Downunder is one that is not only supportive, but for the friendships that are made there will be life long and that is why we continue to enjoy this sport as a family. Out of these friendships, I created a social flying club called Flying Friends Downunder, where everyone gets together every couple of months for a night of flying and great laughs. Our Junior Flyers attend our Huckjams and have a ball. It’s that type of community where everyone is welcome no matter what your age or flying ability is.
In a nutshell, this sport of indoor skydiving not only gives you a great time of flying, but the chance to do things as a family that we all enjoy and to keep fit, have fun and encourage those to have a go and enjoy the experience. Now, I wonder what the next routine will be…. Stay tuned!
Paula Dehombre
Unleash your inner dare-devil at iFLY!
If you and your family or friends are ready to take on a new, trilling sport, check out our packages here:
Get a taste of the sport of indoor skydiving these school holidays with our JOIN THE SPORT days!
Our Join the Sport days are our introductory sports program for kids aged 6-16 years who want to experience the new world of body flight! Kids can learn the art of indoor skydiving, where they can fly for fun or train to compete!
These holidays you can choose to join the sport for just one day and try it out, or come along for multiple sessions and see how much can be learnt in the new world of body flying.
Each session is specifically tailored to each flyer’s needs through one-on-one coaching by one of our experienced flight instructors, allowing your child to progress their flying skills at their own pace and in a fun group setting.
iFLY Gold Coast
Dates & Times:
Price:
iFLY Downunder (Sydney West)
Dates & Times:
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These Join the Sport Days act as an introduction into our Junior Flight Club which runs regularly through term time as well as during school holidays. Join The Sport days and the Junior Flight Club are a great opportunity to meet new friends and become a member of the growing community of indoor skydivers in Australia.
For more information on Junior Flight Club, click here.