$5.6M contract awarded for US Department of Defense project
- The contract scope is to deliver a new immersive training capability and includes supplying Operator XR system licenses along with R&D services.
- The R&D project duration is 20 months commencing 11th September 2024.
- The contract presents opportunities for follow on work.
xReality Group Limited (XRG) is pleased to announce it has been awarded a $5.6M AUD contract to deliver a new immersive training capability to the United States Department of Defence. The contract has been awarded to XRG by Acrolect Solutions LLC, DBA Endurance Group, who is serving as prime contractor to the US Department of Defence for the R&D effort.
Operator XR, a wholly owned subsidiary of xReality Group Ltd, provides Military and Law Enforcement agencies with a unique, integrated Mission Planning & Rehearsal System, which is portable, secure, and highly immersive.
Recent milestones for Operator XR include:
- Annual Recurring Revenue increased 250% to $2.21M
- Total Contract Value increased 514% for the quarter to $4.1M
- 20 new customers acquired during Q4.
- 162 active opportunities with a total sales pipeline of $24.2M
The award of the US Department of Defence project highlights the increasing demand and market relevance of Operator XR’s solutions and underscores a pivotal year of strategic execution and market penetration.