BPG - Black Pearl Group

[winner (n)]

"It is an exciting time for the company."

[Left Field]

Still an exciting time Winner?

YOY looks good but Qtr by Qtr comparisons not so impressive??

https://www.nzx.com/announcements/434516

KEY HIGHLIGHTS
 
 - Subscription Revenue: Achieved $1.5 million, marking a 143% year-on-year increase and a 15% quarter-on-quarter increase from Q4 FY24.
 
 - Annual Recurring Revenue (ARR): Reached $8.6 million as of 30 June 2024, reflecting a 162% year-on-year increase and a 16% quarter-on-quarter increase from Q4 FY24.
 
 - Gross Profit Margin: Achieved 73%, an improvement from 62% in Q1 FY24 and slightly lower than 75% in the previous quarter, Q4 FY24.
 
 - ARR Per Employee: Recorded at $252k as of 30 June 2024, exhibiting a 308% year-on-year increase and a 9% quarter-on-quarter increase from Q4 FY24.

[lorraina]

Most positive outlook I can remember reading.
FUTURE OUTLOOK

The US SME market, already hungry for relief from blind pay-to-play advertising and marketing, is now undergoing unprecedented disruption, increasing demand for our services even further.

Pearl Diver is set for substantial growth and has just started tapping into its higher-tier offerings. Our product development remains our greatest competitive advantage, with the Pearl Engine designed to penetrate new areas more quickly than anyone else.

The US market is vast, and we have already proven our growth capability there. As we continue to push forward, we are confident in our strategy and our ability to capture new market opportunities, driving sustained growth and delivering value to our stakeholders in the evolving business landscape.

[KW]

Still an exciting time Winner?

YOY looks good but Qtr by Qtr comparisons not so impressive??

https://www.nzx.com/announcements/434516

KEY HIGHLIGHTS
 
 - Subscription Revenue: Achieved $1.5 million, marking a 143% year-on-year increase and a 15% quarter-on-quarter increase from Q4 FY24.
 
 - Annual Recurring Revenue (ARR): Reached $8.6 million as of 30 June 2024, reflecting a 162% year-on-year increase and a 16% quarter-on-quarter increase from Q4 FY24.
 
 - Gross Profit Margin: Achieved 73%, an improvement from 62% in Q1 FY24 and slightly lower than 75% in the previous quarter, Q4 FY24.
 
 - ARR Per Employee: Recorded at $252k as of 30 June 2024, exhibiting a 308% year-on-year increase and a 9% quarter-on-quarter increase from Q4 FY24.

15% QoQ growth is nothing to be sniffed at, that's pretty good.  The question is whether its sustainable, or if its a one off such as a seasonal effect or the result of an acquisition.  And whether its just a transition from lump sum software licence payments to a SaaS model in which case its not really new revenue. 

[lorraina]

19 August 2024
Blackpearl Group Secures Growth Funding
Black Pearl Group Limited (NZX:BPG) is pleased to announce that it has today entered into a
NZ$5 million revolving loan facility with Bank of New Zealand.
Please see the below letter to shareholders for more information.
Letter to Shareholders
Dear Shareholders,
At our Annual Shareholders' Meeting I said that BPG had earned itself options.
Now, weeks away from reaching NZ$10 million in annual recurring revenue (ARR), we could fund
our growth from monthly net cash. However, our aspiration is to achieve true scale, one befitting
our market opportunity – after all, there are 33 million SME businesses in the USA.
As such, we are investing in increasing our velocity beyond what an operating net cash
investment could yield, with the ambition of growing to $20 million ARR in the next 1 –2 years.
To support this, the Board has today entered into a Growth Facility with Bank of New Zealand
(BNZ), becoming one of BNZ's select Project Scale Up clients. Having access to a non-dilutive debt
facility with a major trading bank reflects the great success we have had as a company to date
and our proven growth velocity.
The loan facility is for a two-year term and the purpose of the loan facility is for growth. BPG is
subject to a key financial covenant under the facility to maintain a minimum growth rate of 20%
per annum in its ARR.
We appreciate this is not the traditional growth funding approach for a technology business at
our life stage. Typically, we would issue new stock. While this is clearly an option for BPG, we do
not believe that our share price is an accurate representation of the company's value and we are
not going to dilute our shareholders by issuing stock at a bargain. If you want stock at the current
share price, buy on the market.
1 BLACKPEARL GROUP | Market Announcement
This facility means BPG controls the timing and terms of future growth funding.
Kind regards,
Nick Lissette
CEO

[Forrestdun]

Just a casual 525k shares changing hands

[lorraina]

Blackpearl Group FY25 Results
29/05/2025, 08:30 NZST, FLLYR
BPG FY25 Results - Investing now to capture growth

Blackpearl Group Limited (NZX:BPG) today announces its results for the year ended 31 March 2025, highlighting healthy operating metrics, including strong growth in Annual Recurring Revenue (ARR) and Average Revenue Per User (ARPU), whilst the Group continues to invest in its next phase of scale.

Hightlights

- $12.5m ARR, up 70% from $7.4m as at 31 March 2024
- $7.7m subscription revenue, up 91% from $4.1m in FY24
- $17.5k ARPU, up 53% over the last 6 months
- 68% gross margin, reflecting continued platform efficiency
- 17% of revenue from top 10 customers, up from 10% as at 31 March 2024
- Pearl Diver reached ~$10m ARR, only eight quarters after its full launch
- Signed new fixed-fee data supply agreement
- Raised $12.5m in growth capital
- Officially launched Bebop, following the most successful beta in the company's history
- Pearl Engine scaled 210x, now processing 21B rows/day
- Executed strategic customer transition for Pearl Diver has lifted ARPU
- Funded for ongoing growth, with $6.7m in cash and $4m in non-dilutive loan facility available.


Enabling Future Growth

Last year, we told investors we would invest in the next stage of growth – and we've done exactly that.

With $12.5m in ARR, and Bebop now launched, Blackpearl is positioned not just for $20m ARR but to build toward $50m and beyond. The Group has made targeted investments in people, infrastructure, and product – all designed to scale efficiently into larger markets.

Our strategic shift to higher-value customers is delivering results, and the successful beta and launch of Bebop has validated our ability to innovate, build and deliver new, high-impact products quickly.

"We now have the platform, the products, and the people to scale. FY25 was about building for what's next – and we're just getting started ..." – Nick Lissette, Chief Executive Officer


Financial Commentary

Subscription revenue grew 81% to $7.7m, supported by strong ARR uplift and deeper customer relationships. Our customer mix improved as we shifted focus to high-value accounts, resulting in a 50% ARPU lift over the past six months. While churn spiked during our ICP transition in Q3, it stabilised to 5.3% in Q4.

Gross margin held at 68%, down from 71% in FY24, reflecting a temporary overlap in data supply contracts. As legacy providers roll off in FY26, margin expansion is expected to begin from Q2. Beyond that, Blackpearl will start to accrue substantial margin benefit from the new flat fee arrangement, as revenue scales further.

Blackpearl ended the year with $6.7m in cash and retains access to a $4m undrawn non-dilutive loan facility with BNZ. We are sufficiently capitalised and well supported by our banking partner, with resources already in place to support continued product expansion and market growth.

"FY25 was about scaling with intent – we invested in product, people, and platform while keeping a clear path to sustainable margin growth." – Karen Cargill, Chief Financial Officer


Future Outlook

The AI opportunity is here – and our platform is purpose-built to capture it. Blackpearl is targeting $20m ARR within the next 7–12 months, with clear visibility toward $50m as both Pearl Diver and Bebop reach critical mass.

"We're positioned to lead AI-powered sales and marketing solutions for the US SME market. We've already proven we can execute, and now we're building for scale." – Nick Lissette, Chief Executive Officer

[KW]

The US SME market, already hungry for relief from blind pay-to-play advertising and marketing, is now undergoing unprecedented disruption, increasing demand for our services even further.

This is even more true today than it was a year ago.  AI engines have upended everything.  People are not bothering to use Google search to find things - they just ask AI for an answer.  So potential customers are never exposed to advertising.  This on top of the likes of Google and Facebook increasing ad rates astronomically, to the point where a lot of users are finding the cost of customer acquisition exceeds the customer revenue. 

I think companies will return to more old school forms of marketing and advertising.  Like email lists.   I notice Adairs is really focused on their Linen Lovers membership group, as they cost nothing to market to, and their revenue per customer is higher.  The only way I know if Briscoes is having a sale is (a) its Briscoes, and (b) they email me everyday, sometimes twice a day.

However, having a good market opportunity does not automatically mean they are capable of capitalising on it.  See RYM lol

[winner (n)]

So true KW I

As Tom Fishbourne from Market says -

Yet what I find particularly fascinating about the AI arms race is that customers and buyers are also starting to use AI agents. AI doesn't just promise a new and improved marketing funnel — it could upend the marketing funnel altogether.

Consumers fighting back?

Can't post cartoon as screen shot file too big but it's here if interested

https://marketoonist.com/2025/05/marketing-ai-agents.html

[Forrestdun]

Anyone listen to the presentation?

[Crackity]

Our platform was built to scale fast, but what matters most is product-market fit. This is one of the fastest go-to-market trajectories we've seen across the SaaS and AI landscape, and customers have rapidly validated our value proposition. We hit it out of the park with Pearl Diver, so it's extremely exciting to see Bebop overtake its impressive early adoption. Bebop's traction validates our core thesis: that speed, usability, and value drive adoption. And our platform was built to scale these advantages, fast." – Nick Lissette, Chief Executive Officer
 
 Bebop's rapid growth is building momentum, confirming rising demand for AI-native, cost-effective sales tools that solve real challenges faced by SMEs. Early customer feedback highlights Bebop's ability to "save hours in research"; "generate customers effortlessly"; and "bring the power of AI to the everyday business owner."
 
 Since our capital raise in FY25, we have made a deliberate and focused investment in Bebop to fully realise the potential we identified. That conviction has now been validated though we will be dipping into shareholders pockets again soon as cash just seems to walk out our door. Our ai announcement wordsoup generator is expected to report back soon.

[Left Field]

BPG makes smallish acquisition.....buys a rocket..... and after initial scepticism from me, I'm beginning to like the looks of BPG and its strategies. Call me crazy.

https://www.nzx.com/announcements/454958

[winner (n)]

BPG makes smallish acquisition..... and after initial scepticism from me, I'm beginning to like the looks of BPG and its strategies. Call me crazy.

https://www.nzx.com/announcements/454958

Not crazy Leftie

BPG are winners big time

Rocket seems appropriate lol

[HAWKDOG]

Blackpearl Announces $15M Capital Raise & Market Update

Will BPG sp price come down to meet the offer price?

The Offer will be undertaken at a fixed price of NZ$0.95 per share (Offer Price), representing a:

• 13.6% discount to the last close price of NZ$1.10 on 11 August 2025;

• 15.0% discount to the 5-day VWAP of NZ$1.12 per share, calculated up to 11 August 2025.

[lorraina]

Blackpearl Announces $15M Capital Raise & Market Update
Tuesday 12th August 2025

Text too small?
Black Pearl Group Limited (NZX.BPG) is pleased to announce a $15m capital raising (Offer) comprising the following components:

• a $7m institutional placement of new fully paid ordinary shares to eligible institutional shareholders and new institutional investors (Placement); and

• a 1 for 7.70 pro-rata accelerated non-renounceable entitlement offer of new shares to eligible shareholders to raise approximately $8m (ANREO).

 

Proceeds from the capital raised will be applied to fund the B2B Rocket Inc acquisition which was previously announced on 14 July 2025 and to undertake investments to accelerate the growth of Blackpearl Group.

 

The Offer will be undertaken at a fixed price of NZ$0.95 per share (Offer Price), representing a:

• 13.6% discount to the last close price of NZ$1.10 on 11 August 2025;

• 15.0% discount to the 5-day VWAP of NZ$1.12 per share, calculated up to 11 August 2025.

 

Up to approximately 15.8 million new shares may be issued under the Offer. New shares issued under the Offer will rank equally with existing fully paid ordinary shares from their time of issue.

 

Under the ANREO, eligible shareholders will be invited to subscribe for 1 new share for every 7.70 existing Blackpearl Group shares held at 5.00pm (NZST) on the record date of 13 August 2025.

 

The entitlements cannot be traded on the NZX Market or transferred or sold privately, and there will be no shortfall bookbuild for the entitlements which are not taken up under the ANREO. This means that shareholders will receive no value for any entitlements that they do not take up. Please refer to the Offer Document attached with this announcement for further information.

 

The institutional component of the ANREO (Institutional Offer) will be conducted concurrently with the Placement. New shares equal in number to the entitlements from the institutional component of the ANREO which are not taken up are intended to be placed to new investors on no more favourable terms than under the ANREO.

 

A trading halt has been granted by NZX to facilitate the Placement and the Institutional Offer. Blackpearl Group expects to advise the market of the capital raised under the Placement and Institutional Offer on Wednesday, 13 August 2025.

 

The retail component of the ANREO (Retail Offer) will be open from 9.00am (NZST) on Monday, 18 August 2025 to 5.00pm (NZST) on Monday, 25 August 2025. Eligible shareholders who take up all of their entitlements in full may apply for additional new shares in an oversubscription facility. Further details about the Retail Offer are set out in the Offer Document.

 

Shareholders entitled to participate in the Retail Offer should visit blackpearl.capitalraise.co.nz and apply online by 5.00pm (NZST) on Monday, 25 August 2025.

 

Craigs Investment Partners Limited are acting as Lead Manager for the Offer. The Offer is not underwritten.