BTLNNasdaqServices-Computer Programming ServicesUS GAAP · USD

Brightline Interactive, Inc./NV

Brightline Interactive, Inc./NV is a U.S.-based immersive technology services company focused on software and project delivery for virtual reality, augmented reality, and spatial computing applications. Its business centers on enterprise-oriented immersive solutions, including internally developed software, consulting, and software licensing delivered through its operating entities in the United States.

Liikevaihto0,3milj. USD
−93,9 %v/v
Nettotulos−16,6milj. USD
−551,7 %v/v
Vapaa kassavirta−4,3milj. USD
−1 263,9 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2021–2026

−30−20−1001020milj. USD2021: 3,4 milj. USD2021: EBIT −6,0 milj. USD20212022: 7,3 milj. USD2022: EBIT −6,3 milj. USD20222023: 13 milj. USD2023: EBIT −29 milj. USD20232024: 8,8 milj. USD2024: EBIT −6,6 milj. USD20242025: 5,3 milj. USD2025: EBIT −2,7 milj. USD20252026: 0,32 milj. USD20260,32
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Software Services94 %

Custom immersive technology projects, implementation work, and consulting services tied to client engagements.

Software License / SaaS6 %

Internally developed immersive software sold as licenses or subscription-based access.

Tuotteet

Raportoitu · osuus liikevaihdosta
79,2%20,8%FY2026100 %
  • Software Services79,2 %
  • Royalty Income20,8 %

Lähde: 10-K FY2026, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

The company sells primarily to enterprise and institutional customers that use immersive technology for training, marketing, collaboration, simulation, and other business applications. Its reported verticals include corporate training, education, healthcare, government and defense, branding and advertising, retail, media and entertainment, and corporate events. The customer base is concentrated, with a limited number of customers representing a large share of revenue, so individual contract wins, renewals, and project timing matter materially to demand.

Enterprise and institutional clients

Buy immersive software services, Spatial Core deployments, and related development work for internal or customer-facing use.

Government and defense

Purchase secure immersive technology solutions and project-based software delivery for specialized use cases.

Education and healthcare

Use VR, AR, and AI-enabled immersive applications for training, simulation, and interactive learning.

Branding, media, and events

Buy 3D environments, animations, and presentations for marketing and experiential content.

Strategia

The company is positioning itself around Spatial Core, its immersive software and services platform built on spatial computing, cloud, and AI. Management’s stated priorities are to expand enterprise use cases, improve operating leverage across the ecosystem, and win larger recurring or repeatable engagements across targeted verticals. It also emphasizes a diversified but B2B-focused model to reduce reliance on any single product or customer type.

Scale Spatial Core adoptionKeskipitkä aikaväli

The company views Spatial Core as its main differentiator and growth engine.

Broaden customer and vertical mixKeskipitkä aikaväli

Reducing reliance on a small number of customers can stabilize demand and renewals.

Increase recurring software revenueKeskipitkä aikaväli

Licenses and SaaS can be more scalable than project-based services.

Maantiede

The company states that its operating entities are located in the United States, and the business is managed from a U.S. corporate base. The available filings do not disclose a country-by-country revenue split, so the company should be viewed primarily as a U.S.-centered business with customer demand tied to domestic enterprise and institutional spending.

Riskit

The business faces high customer concentration, project-based revenue timing, and reliance on a still-developing immersive technology market. It also carries execution risk around product development, cyber exposure, and the possibility that customer demand or contract renewals do not scale as expected.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Customer concentration1Project and renewal timing2Early-stage market adoption3Cybersecurity and data security4Development and product delivery delays5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Customer concentrationVaikutus: KriittinenTodennäköisyys: Korkea

    Five largest customers accounted for a very large share of revenue, so loss or delay from one account can materially move results.

    Kohdistuu: limited number of customers

  2. Project and renewal timingVaikutus: KorkeaTodennäköisyys: Korkea

    Revenue depends on the commencement, completion, and renewal of specific engagements.

    Kohdistuu: service contracts and software renewals

  3. Early-stage market adoptionVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Immersive technology markets are described as nascent, which can slow customer adoption and pricing power.

    KohdistuuVRARSpatial Computing
  4. Cybersecurity and data securityVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company shares confidential information with service providers and depends on technology infrastructure.

    Kohdistuu: customer data and platforms

  5. Development and product delivery delaysVaikutus: KorkeaTodennäköisyys: Kohtalainen

    New software and enhancements may take longer or cost more than planned and may not gain market acceptance.

    Kohdistuu: Spatial Core and related products

Kysy Clarifolta: Brightline Interactive, Inc./NV

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition timing

Project completion and license renewal timing can shift recognized revenue across quarters.

Vaikutus: Quarterly revenue volatility

Goodwill impairment

Acquired goodwill is tested for impairment and could be written down if expectations weaken.

Vaikutus: Potential non-cash charges

Intangible asset amortization

Acquired technology and customer relationships are amortized over useful lives.

Vaikutus: Recurring expense burden

Contingent consideration

Acquisition-related payments can affect cash flows and future liability estimates.

Vaikutus: Investing cash flow and liabilities

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 28.9.2026

Brightline Interactive, Inc./NV (Nasdaq) – Services-Computer Programming Services | Analyysi – Clarifo