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June 2026
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 | Meta is the largest social media company in the world, boasting close to 4 billion monthly active users worldwide. The firm's "Family of Apps," its core business, consists of Facebook, Instagram, Messenger, and WhatsApp. End users can leverage these applications for a variety of different purposes, from keeping in touch with friends to following celebrities and running digital businesses for free. Meta packages customer data, gleaned from its application ecosystem and sells ads to digital advertisers. While the firm has been investing heavily in its Reality Labs business, it remains a very small part of Meta’s overall sales. | $628 | -15% | $1.6T | $1.6T | 8.0x | 13.2x | ||
 | BOE Technology Group Co Ltd is an investment holding company. Along with its subsidiaries, the company operates in the following business segments: Display business, Internet of Things (IoT) innovation business, Sensor business, MLED business, Smart medicine and engineering business, and Others. A majority of its revenue is generated from the Display business segment, which integrates design and manufacturing of display devices and offers TFT-LCD, AMOLED, Microdisplay, and other intelligent interface devices. This business focuses on providing high-quality smartphones, tablet PCs, laptops, monitors, TVs, vehicles, VR/AR, and other display devices for customers. Geographically, the group generates maximum revenue from Mainland China, followed by other regions. | $1 | +57% | $33B | $43B | 1.4x | 5.9x | ||
| Unity Software Inc provides a software platform for creating and operating interactive, real-time 3D content. The platform can be used to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The business is spread across the United States, Greater China, EMEA, APAC, and other Americas, and key revenue is derived from the EMEA region. Its products are used in the gaming industry, retail, automotive, architecture, engineering, and construction. | $30 | +24% | $13B | $13B | 7.1x | 32.3x | ||
| Snap is a technology company best known for its marquis social media application. Snapchat, a visual messaging application that has amassed hundreds of millions of users. The app was initially only used to communicate with family and friends through photographs and short videos (known as "Snaps"). Users can now enjoy augmented reality, or AR, lenses, content from famous creators and celebrities, updates about local events, and more. Although the app offers a paid subscription option with premium features, advertising sales produce most of the app’s revenue. The firm also sells wearable devices called AR Spectacles, which can capture photos and videos overlayed with AR lenses, but these make up a small portion of Snap’s overall sales. | $6 | -30% | $10B | $11B | 1.9x | 16.6x | ||
| Orbbec Inc is engaged in the design, research and development, production, and sales of 3D visual perception products. It provides high-performance 3D vision sensors and robotics and AI vision solutions to customers in industries such as robotics, 3D scanning, and biometrics, as well as developers, helping emerging industries unlock value and promote the intelligent upgrade of traditional industries. Its product portfolio includes monocular structured light cameras, binocular structured light cameras, LiDAR consumer devices, smart cameras, and others. | $17 | +97% | $7B | $7B | 48.1x | 275.8x | ||
 | HTC Corporation is a Taiwanese consumer electronics company. The company is engaged in designing, manufacturing, assembling, processing, and selling smart mobile and virtual reality devices and after-sales services. Its products include smartphones, tablets, cameras, wearable fitness devices, Blockchain phones, Vive, and virtual reality headsets. The company’s operations are mainly in the research, design, manufacture and sale of virtual reality devices and smart mobile devices, which accounts for majority of the total revenue. | $2 | +22% | $1B | $1B | 11.3x | 3.7x | ||
| Kopin Corp is a provider of high-performance application-specific optical solutions consisting of high-resolution microdisplays and optics, subassemblies, and headsets. It serves soldiers, avionics, armored vehicles training and simulation military applications, and others. Its product portfolio includes Microdisplays, Spatial Light Modulators, Optical Modules, Medical, Training, and Simulation. Geographically, it derives a majority of its revenue from the Americas and also has a presence in Asia-Pacific; Europe, and Other Countries. | VR & AR+3 | $6 | +318% | $1B | $1B | 29.0x | (113.7x) | |
 | Sun Corp is a Japanese company engaged in the business of providing mobile data solutions, gaming content, Online to Online solutions, and Enterprise AR solution. The products of the company include IoT, Global Data Intelligence Division, Game Machine Parts, Game Content, and others. | $54 | +53% | $1B | $1B | 17.2x | 10.2x | ||
| Cover Corp operates as a platformer for two-dimensional entertainment. It is engaged in developing multifaceted businesses to accelerate 2D entertainment such as distribution system development, VTuber office management, and content development. | $10 | -31% | $657M | $557M | 2.1x | 9.9x | ||
| Vuzix Corp is engaged in the design, manufacture, and marketing of Artificial Intelligence (AI)-powered Smart Glasses, Waveguides, and Augmented Reality (AR) technologies. Its solutions serve the enterprise, medical, defense, security, and select consumer markets, offering cutting-edge wearable computing and display technologies that enhance productivity and operational efficiency. Its products include near-eye displays (NEDs), heads-up displays (HUDs), and wearable computing devices. Geographically, the company generates a majority of its revenue from the United States and also has a presence in Japan, the Netherlands, and other countries. | VR & AR+2 | $4 | +45% | $352M | $342M | 54.5x | (11.7x) | |
 | Surgical Science Sweden AB is a supplier of virtual reality simulators for medical training. The company’s core is its proprietary software and hardware for simulating interactions between instruments and anatomy. It has two operating segments; Educational products include Proprietary brand medical simulator hardware and software for generic training of psycho-motor skills, instrument handling, and training for a large number of procedures and examinations, prior to entering the clinical environment and also support and services, and Industry/OEM includes simulation software for product-specific training of surgeons in robot-assisted surgery and other digitalized medical instruments and also simulators for medical device companies. | $4 | -77% | $191M | $120M | 1.1x | 6.0x | ||
| Virtuix Holdings Inc develops technologies for immersive virtual environments, including both simulated and real-world applications. It develops virtual reality hardware and software, including the Omni Pro, an omni-directional treadmill designed to allow users to walk and run in multiple directions inside video games and other virtual worlds. The company operates at the intersection of gaming, fitness, and enterprise virtual reality. It has commercialized three products. The company operates in a single operating segment: the design, development, marketing, and sale of omni-directional treadmills, accessories, and related services to consumer and commercial customers. It derives revenue through a combination of hardware sales and recurring software and service income. | $4 | -- | $123M | $128M | 35.6x | (9.3x) | ||
| Kudan Inc is a Computer Vision Technology company. It is accelerating the evolution of AR/MR/VR and automobile/drone/robot by developing computer software algorithms for Artificial Perception. The objective of the group is to embed an AR and computer vision engine into a computer module chip, which enables various devices to use the AR engine while enabling online update and maintenance of the devices. | $11 | +52% | $122M | $111M | 34.2x | (22.2x) | ||
 | Golfzon Holdings Co Ltd is a Korea-based company involved in the development of golf game software. The firm provides golf simulators which include GDR hardware and software, vision hardware and software and real hardware and software and swing talk technologies. The company mainly operates in China, Japan, Asia, Europe, Oceania, and North America. | $3 | -25% | $112M | $217M | 0.9x | 5.8x | ||
| Gumi Inc is an entertainment company, which develops, operates, and distributes online games for smartphones and tablets. It provides native application services, game contents can be downloaded from apple store without browser; browser game services, game can be played on the mobile terminal browser, as well as publishing services, in which the company performs localization of game content developed by third parties and then sell them through its various sales channels. In addition, the firm offers VR (Virtual Reality) services. | $2 | -62% | $86M | $90M | 1.4x | 5.5x | ||
 | Metavista3D Inc specializes in immersive metaverse display technology, offering 3D visualization solutions for digital experiences. The company is focused on developing next-generation AI based displays using pseudo holographic display technologies, for spatial reality without the need for the viewer to wear glasses. Its Metavista 3D display projects lifelike, high-definition 3D images that float in mid-air, creating a mesmerizing visual experience. The company also has a patented system to integrate the Super Multiview technology into any kind of display, allowing multiple people to see the same spatial content on the same display. | $0 | -58% | $45M | $45M | 14.1x | (10.1x) | ||
| MicroCloud Hologram Inc, through its subsidiaries, is mainly engaged in holographic Technology. It includes Holographic solutions and Holographic technology services. The company also provides holographic digital twin technology services for customers and has built a holographic digital twin technology resource library. Geographically company is operating in single segment, China. | $2 | -62% | $43M | ($355M) | (6.0x) | (560.2x) | ||
 | PlaySide Studios Ltd is a video game developer in Australia. The company delivers games across four platforms: Mobile, Virtual Reality (VR), Augmented Reality (AR), and PC. Some of its games include Ghost Pop, Flush Force, Defend the Bits, Dumb Ways to Dash, and many others. The company has one reportable segment, the development and monetization of mobile, PC, and console video games. | $0 | -22% | $40M | $31M | 0.9x | (6.5x) | ||
| WiMi Hologram Cloud Inc and its subsidiaries offer augmented reality (AR) based holographic services and products to cater to its customers. Its AR service and product offerings consist of holographic AR advertising services and holographic AR entertainment products. It is also into the semiconductor business, in which the company provides central processing algorithm services and computer chip products to enterprise customers and the sales of comprehensive solutions for central processing algorithms and related services with software and hardware integration. The company reports in three segments: AR advertising, AR entertainment, and Semiconductor. Its geographical segments are Mainland China, Hong Kong, and International. | $2 | -38% | $31M | ($433M) | (6.9x) | (7.8x) | ||
| Virnect Co Ltd is a technology company that leads XR technology trends and specializes in developing XR solutions that can solve problems in the industrial field. It provides products and services for 3D real-time visualization, virtual and augmented reality, remote monitoring and operation, and telecommunication access. Its product offering comprises VIRNECT Remote, VIRNECT Make, VIRNECT View, VIRNECT Twin, VIRNECT Track, and XR Devices. | $2 | -- | $19M | $20M | 10.0x | (8.1x) | ||
| The Glimpse Group Inc is a diversified immersive technology platform company, focused on providing enterprise solutions in virtual reality (VR), augmented reality (AR), and spatial computing. The company operates multiple subsidiaries that develop VR and AR software and services across various industries, including corporate training, education, healthcare, government, defense, marketing, retail, and financial services. It also offers AI-driven spatial computing platforms that support simulations, social VR, behavioral health, and corporate events. The Company reports its revenues in three categories: Software Services, Software License and Software-as-a-Service (SaaS), and Royalty Income, with the majority being from the Software Services category. | $1 | -- | $18M | $16M | 1.5x | (7.3x) | ||
| Realfiction Holding AB is a Sweden-based manufacturer and provider of 3D holographic display solutions for retail, expos, and brand activations. It develops, produces, sells, and markets mixed reality displays, software, and related business. The company's product includes Dreamoc and DeepFrame. | $0 | -64% | $6M | $7M | 14.6x | (3.3x) | ||
| Beyond Frames Entertainment AB is a video game company. It brings together skilled game developers with a common vision: crafting engaging, high-quality gaming experience for PC, console, XR including Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) technologies. The company owns, fully or in part, three XR studios: Cortopia, Moon Mode, and Odd Raven. | $0 | -79% | $5M | $4M | 0.3x | 2.1x | ||
| Skonec Entertainment Co Ltd is a virtual reality and immersive content development technology. It has created various content and services using the 4th industrial element technologies such as 5G, VR, and AR. The company's businesses include the Metaverse VR game business, XR education and training project, and XR Future Business. | $0 | -91% | $5M | $38K | 0.0x | (0.0x) | ||
 | The Farm 51 Group develops video games for personal computers, desktop consoles and mobile devices. The company also creates games, modern VR applications and participate in many innovative educational and commercial projects. | $1 | -65% | $4M | $6M | 4.7x | 3.5x | ||
 | Huddled Group PLC formerly Immotion Group PLC provides virtual reality platforms. The principal activities of the Group were: (i) the provision of virtual reality (VR) experiences to partner sites on a revenue share basis and in its own ImmotionVR sites; (ii) the sale of the Group’s Let’s Explore consumer product; and (iii) the sale of the Group’s Uvisan UV-C cleansing products. Activities (i) and (iii) have been disposed of since the reporting date and are included in discontinued operations. | $0 | -80% | $4M | $4M | 0.2x | (0.9x) | ||
 | Immersion SA designs and integrates high-end display and interaction devices, hardware and software components. The provides the virtual reality, augmented reality, and collaborative solutions for industry and research. | $3 | +36% | $3M | $3M | 0.3x | (21.6x) | ||
| TruGolf Holdings Inc is a indoor golf gaming solutions company. It has built video games (including Links, a sports game for PC), hardware solutions, and an all-new e-sports platform to connect golfers around the world with E6 CONNECT. | $2 | -70% | $2M | ($3M) | (0.1x) | 0.6x | ||
| VR Factory Games SA specializes in creating business applications and games using virtual and augmented reality technology. Its games include Horror Bar VR, Bartender VR Simulation, Space Camp, Desert Dream, and Guns and Notes among others. | $0 | -42% | $2M | $2M | - | - | ||
| ImagineAR Inc provides a mobile platform for companies to develop & implement Mobile Augmented Reality experiences instantly with no programming or technology experience. Its platform enables users to point their mobile device at logos, signs, buildings, products, landmarks, and instantly engage with videos, information, advertisements, coupons, 3D holograms, and any other interactive content hosted in the cloud. Its products include ImagineAR Mobile App, ImagineAR Cloud, and ImagineAR SDK/API, among others. The Company operates in one reportable segment, comprised of data services, and revenue is earned from two regions: Canada and the United States. | VR & AR+1 | $0 | -- | $1M | $1M | 80.4x | (0.7x) | |
| ZSPACE Inc is a provider of augmented reality (AR) and virtual reality (VR) educational technology solutions. It focuses on both United States K-12 schools and Career & Technical Education (CTE) markets. The company's proprietary hardware and software platform provides the ability to deliver an interactive, stereoscopic three-dimensional (3D) learning experience to users without the need to utilize VR goggles or specialty glasses. The platform serves a broad range of critical educational tools designed for K-12 science, technology, engineering, and math (STEM) lessons as well as training skilled trades in areas such as health sciences, automotive engineering/repair, Unity3D software programming, and manufacturing. Key revenue is generated from hardware. | VR & AR+2 | $0 | -93% | $728K | $18M | - | - | |
| TrustBTC SA, formerly Immersion Games SA is a producer of VR and PC games created by a virtual and augmented reality studio in the world - Immersion. It is cooperating with companies and institutions such as Google, HBO, Coca-Cola, American Museum of Natural History, Nordic Track, and the Smithsonian Channel. | $0 | -87% | $688K | $652K | 0.8x | (1.7x) | ||
| Pengram Corporation engages in the acquisition, exploration and development of mining properties. Its business plan is to assemble a portfolio of mineral properties with gold potential and to engage in the exploration and development of those properties. | VR & AR+1 | $0 | -- | $332K | $332K | - | - | |
| Medies provide a novel type of service within the scope of the online streaming industry and the metaverse network. Via motion and still, pictures digital database, meta movement, aims to connect creative artists and dancers, through the development of visual experience-specifically through metaverse technology. | $0 | -- | $201K | $276K | - | - | ||
| Blue Hat Interactive Entertainment Technology is focused on commodity trading, including chemicals, jewelry, and precious metals such as gold. It operates a gold and diamond trading and supply chain business. Its business model encompasses physical gold trading, diamond trading, gold derivatives trading, and the development of AI-enabled trading platforms. Its segments include Diamond trading, Commodity trading, Information service, Interactive toys - animation series, and Interactive toys - game series. It derives revenue from Diamond trading. The majority of its revenues are generated in PRC. | $0 | -98% | $93K | $2M | - | - | ||
| Median | $2 | -38% | $40M | $20M | 2.0x | (0.3x) |
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