VR Education expects 1-hour revenue from the Engage platform to be much higher

By Adria Calatayud

VR Education Holdings PLC said on Wednesday that revenues from its Engage software platform are expected to increase sharply during the first half of 2021 as it continues to operate in line with market forecasts.

The virtual reality technology company said Engage’s revenue for the first six months of the year is expected to be € 1.3 million ($ 1.5 million), up 84% more than the previous year. VR Education, which is listed in London and Dublin, said Engage now accounts for nearly three-quarters of its total revenue, up from a third of the same period last year.

The gross margin for the first half is expected to be 80%, compared to 70% the previous year.

Write to Adria Calatayud at adria.calatayud@dowjones.com

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