Short answer

zSpace, Inc. (ZSPC) filed its fiscal 2024 10-K annual report with the SEC on Mar 28, 2025. It reported revenue of $38M and net income of −$21M.

Top risk flagged: Risk of geopolitical conflict impact on operations due to concentration of employees in San Jose, California and exposure to events like the Ukraine war

FY2024 key financial metrics · XBRL

Source: XBRL data from the zSpace, Inc. (ZSPC) FY2024 10-K on SEC EDGAR. USD.

AI summary of each section, grounded in the filing text

Core business: AR/VR educational technology platform delivering immersive 3D learning without eyewear, focused on K-12 and Career & Technical Education (CTE) markets in U.S. schools
New product launches: Inspire 2 laptop in late 2024 (20-22% performance boost, 16% lighter), Imagine laptop in early 2025 (41% smaller, 30% lighter, designed for younger learners)
Strategic shift: Increased focus on U.S. market expansion and targeted software acquisitions to grow software revenue and content library
Employee count 78 full-time as of December 31, 2024, maintaining a lean R&D and support team
Noteworthy fact: Revenue from China dropped from $2.8 million (6% total) in 2023 to $0.9 million (2% total) in 2024, with plans to further reduce exposure in 2025

Revenue and bookings $41.5M in 2024 vs $41.1M in 2023; no exact total revenue figure disclosed
Net loss $(20.8)M in 2024 vs $(13.0)M in 2023; Adjusted EBITDA loss $(9.9)M in 2024 vs $(6.9)M in 2023
United States K-12 bookings 63% of total in 2024 (up from 56% in 2023); CTE bookings declined to 37% from 44%
Cash $4.9M at end 2024 vs $3.1M in 2023; raised $18.5M in 2024 vs $11.4M in 2023 via debt and IPO; no buybacks or dividends noted
Management highlights risks from significant customer order cancellations ($1.2M in 2024), ongoing internal control deficiencies, customer financial constraints, and reliance on key OEM partners

Risk of geopolitical conflict impact on operations due to concentration of employees in San Jose, California and exposure to events like the Ukraine war
Supply chain risk from dependence on limited source suppliers and long lead time components requiring 6-12 month demand forecasting
Competitive threat from large technology firms Apple, Google, Meta, Unity Software in virtual technology and AR/VR market segments
Financial risk from revenue concentration: largest 2024 customer accounted for 13% of total revenue, five largest for 26%
Operational risk of scaling technical infrastructure and information technology systems to meet growing demands without performance interruptions

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