Captivision, operating primarily through its South Korean subsidiary Captivision Korea, makes and sells G-Glass — a proprietary architectural glass product with LEDs embedded inside the panes and electronics hidden in the surrounding aluminum frames. G-Glass functions as a conventional building material while also displaying full-color digital video and media. At over 99% transparency, it can be used as a building façade, handrail, bus shelter, bridge railing, or interior partition. Customers include real estate developers, building owners, government agencies, and hospitality and entertainment venues, who use G-Glass either as a dual-purpose building material or as a large-format digital out-of-home (DOOH) advertising surface. Captivision sells directly through its own salesforce and regional subsidiaries in the U.S., Europe, Japan, and Hong Kong, as well as through a reseller network. Revenue comes primarily from product sales and installation, ranging from smaller applications like bus shelters to large "Super Large Architectural Media" façade projects, which carry four-to-five year sales cycles. Captivision is developing a "Glass as a Service" model where it co-funds installations, maintains the glass, and retains roughly 80% of advertising revenue generated, shifting revenue from one-time sales toward recurring income. Additional revenue opportunities include content sales through its G-Store platform and software services. Captivision is vertically integrated, manufacturing all G-Glass at a single facility in Pyeongtaek, South Korea. The company is currently loss-making and has disclosed going concern uncertainty.