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Immotion confirms 93 VR headset installations for first quarter of 2020

The 'out of home' VR company has inked deals with a number of attractions and venues including the London Eye

Immotion Group - Immotion confirms 93 VR headset installations for first quarter of 2020

Immotion Group PLC (LON:IMMO) has confirmed the installation of 93 of its virtual reality (VR) headsets in the first quarter of 2020 after signing contracts with a number of attractions and venues.

The firm, which specialises in ‘out of home’ VR experiences, said it has signed contacts in the past week with the London Eye, four aquariums and a European zoo and has agreed terms with a further nine aquariums and five entertainment sites.

READ: Immotion Group expects to reach monthly break-even in first quarter

The installation at the London Eye will feature a six seater mini-theatre using Immotion’s VR roller coaster experience, Tower Coaster – London.

The firm said it expects to reach earnings (EBITDA) breakeven at or around the end of the first quarter, with more partners anticipated to sign with the company through early 2020.

"We are thrilled with the ongoing response to our offering. The Partner team have been working hard throughout the last quarter of 2019 to secure these new sites", said Immotion commercial director Rod Findley.

“With 19 new partners agreeing to a further 93 headsets this bodes well as we drive towards monthly profitability”, he said, adding that the company was currently in “advanced talks with a number of larger locations”.

Quick facts: Immotion Group

Price: 3.55 GBX

Market: AIM
Market Cap: £13.47 m

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