BPG - Black Pearl Group

[lorraina]

Resumed trading at $1.07
BPG Successfully Closes Placement & Institutional Offer
13/08/2025, 16:28 NZST, OFFER
Blackpearl Group Announces Successful Completion of Placement & Institutional Offer

Black Pearl Group Limited (NZX:BPG) is pleased to advise that it has successfully completed its institutional Placement (Placement) and the institutional component of its 1 for 7.70 pro-rata accelerated non-renounceable entitlement offer (Institutional Offer) of fully paid ordinary shares in BPG (New Shares), as announced to market on Tuesday, 12 August 2025 (together, the Offer).

The Offer closed on Wednesday, 13 August 2025 and raised total gross proceeds of approximately $10.3 million.

The Offer was well supported by existing and new institutional shareholders and clients of retail broker firms. Blackpearl Group is particularly pleased to welcome several new Australian-based institutional investors onto its register, which was a key objective for Blackpearl Group in planning the Offer.

Blackpearl Group's shares will resume normal trading today on an ex-entitlement basis. The Offer shares are to be allotted on Tuesday, 19 August with trading of the New Shares commencing on the NZX Market that day.

Retail Entitlement Offer

Eligible retail shareholders are invited to participate in the retail component of the pro-rata accelerated non-renounceable entitlement offer (Retail Offer).

The Retail Offer will open at 9.00am (NZT) on Monday, 18 August 2025 and close at 5.00pm (NZT) on Monday, 25 August 2025. Eligible retail shareholders will have the opportunity to participate at the same application price of $0.95 per New Share. Eligible retail shareholders can choose to take up their entitlements in whole, in part or not at all. Eligible retail shareholders who take up their full entitlements may also apply for additional New Shares in an oversubscription facility.

The offer website where applications under the Retail Offer can be made will open on Monday, 18 August 2025 and be available here https://blackpearl.capitalraise.co.nz/. Shareholders need to apply online by 5.00pm (NZST) on Monday, 25 August 2025.

Entitlements under the Retail Offer cannot be traded on the NZX Main Board or transferred or sold privately, and there will be no shortfall bookbuild for those entitlements which are not taken up.

Further Information and Shareholder Enquiries

Shareholders who have any questions about the Retail Offer are encouraged to read the Offer Document and Investor Presentation released to market on 12 August 2025 and consult with their broker, solicitor, accountant, financial adviser or other professional adviser.

[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.

The share price hit 0.95 today, although briefly. 

[HAWKDOG]

started a position this morning - filled at 0.955

[lorraina]

I think their next update is due possibly on the 14th October.

[HAWKDOG]

Nice close today.  Sellers seem to have disappeared.  Look forward to the update on the 14th.

[lorraina]

Quarterly Report Investor Webinar
09/10/2025, 13:55 NZDT, GENERAL
Blackpearl Group Limited (NZX: BPG) advises that it will host an investor webinar at 12.30pm NZDT (10.30am AEDT) on Wednesday, 15 October 2025, following the release of the Company's Q2 FY26 results.

Chief Executive Officer Nick Lissette and Interim Chief Financial Officer Karen Cargill will provide a presentation to discuss the Company's quarterly performance and key developments. They will be joined by Noah Loul, Head of B2B Rocket, and Trinity Lawry, Head of Pearl Diver, who will share updates on their respective business units, followed by a live Q&A session.

Register for the investor webinar via the link below:

https://us02web.zoom.us/webinar/register/WN_IhGU2joQShaRoZTOQnIraw

Participants are invited to submit questions prior to the event to simon@nwrcommunications.com.au, or alternatively, may submit questions via the Q&A function within Zoom during the webinar.

[lorraina]

Blackpearl Group Q2 FY26 Update
15/10/2025, 08:30 NZDT, MKTUPDTE
Blackpearl Group – Q2 FY26 Update

Blackpearl Group (NZX: BPG) achieved $19.5 million in Annual Recurring Revenue (ARR) at the end of Q2 FY26 (30 September 2025), representing a 87% increase year-on-year, up 39% from the previous quarter Q1 FY26. This milestone marks the first quarter where all four of Blackpearl's growth drivers, Pearl Diver, Bebop, B2B Rocket, and Wholesale have been live and contributing in parallel.

CEO Nick Lissette said "We have made major strategic moves during this quarter. We achieved record ARR, completed the acquisition of B2B Rocket, expanded into Wholesale, raised capital, and commenced our ASX listing application. With all four growth engines now rocketing, we are well positioned for our next phase: expanding our Australian shareholder base on the ASX and accelerating towards our $50m ARR target."


Key metrics

• Annual Recurring Revenue (ARR): $19.5m, up 87% YoY and 39% QoQ
• Revenue Churn: 4.6%, down 0.3ppt from 4.9% in Q1 FY26
• ARR Per Employee: $253k down 4% reflecting B2B Rocket integration
• CAC Payback Period: 4.6 months for the quarter ending 30 Sep 2025


Q2 Commentary

Q2 FY26 was one of the busiest quarters for Blackpearl Group, navigating a capital raise, acquisition and integration of B2B Rocket and applying for ASX listing all while delivering growth across our further expanded suite of AI-power products. All of these strategic initiatives position Blackpearl for an acceleration of growth.

ARR reached $19.5m as of 30 September 2025, up 39% from the prior Quarter and 87% year-on-year, driven by growth in Bebop, the expansion of our products into wholesale, the acquisition of B2B Rocket and solid growth in Pearl Diver.

B2B Rocket's initial integration into the Group has been very successful. In Q3, the focus will shift to embedding the Pearl Engine to fully realise the benefits of the platform. Once completed, B2B Rocket will be deeply integrated into the Group's data ecosystem – driving higher-quality leads, stronger demo conversions, and reinforce the Group's multi-engine growth model and recurring revenue momentum.

The Wholesale channel has gained strong early traction, with initial contract wins and several additional agreements under negotiation. We are hand-selecting partners that align to our Ideal Customer Partner (ICP) profile as we build capability in-house. These customers are naturally sourced and upsold via the Pearl Diver Go-to-market (GTM). While early, we anticipate wholesale to make a meaningful positive impact on Customer Acquisition Cost (CAC) efficiency once scaled.

Churn improved to 4.6% down from 4.9% in Q1 FY26, continuing the positive trend seen over the last three quarters. The continued improvement in churn reflects the higher quality revenue base of Pearl Diver and contract-based Wholesale customers.

ARR per employee declined to $253k as a result of the B2B Rocket acquisition due to its earlier stage and distributed workforce. However, the scalability and operating leverage across both businesses are expected to drive expansion as topline revenue continues to scale.

Customer Acquisition Cost (CAC) payback increased to 4.6 months, reflecting deliberate investment in scaling B2B Rocket. We've launched with an SMB-focused entry point to drive adoption at lower initial value, while creating clear pathways to higher ARPU through a land-and-expand model similar to Pearl Diver.


Outlook

Looking ahead to Q3, Blackpearl is well-positioned for its next phase of growth. Following the successful capital raise, the completion of the B2B Rocket acquisition, and the launch of Wholesale, Blackpearl remains on track to list on the ASX in November.

While we anticipate some seasonal effects in Q3, including extended CAC payback periods as consumer brands significantly ramp up marketing spend across major US retail events such as Black Friday, Thanksgiving, and the Christmas–New Year period, we will continue to invest wisely in growth while focusing on integrating Pearl Engine data into B2B Rocket and solidifying our venture-based
organisational structure.

With all four growth drivers now contributing in parallel, Blackpearl remains on a strong trajectory towards its next major milestone of $50m ARR, underpinned by a diversified product portfolio and a clear path to scalable, sustainable growth.


ENDS

[KW]

Are there comparative revenue breakdowns by business unit?  Like how much are the older businesses growing, not just adding on a new business?

[winner (n)]

Are there comparative revenue breakdowns by business unit?  Like how much are the older businesses growing, not just adding on a new business?

Agree KW

Not much transparency ...lots of raving and coming up with %ages which aren't comparing apples to oranges

I reckon older business went backwards and Rocket helped them out

[HAWKDOG]

someone pumping BPG?  nice move up today.

[Left Field]

BPG currently trading around $0.90c compared to 12 month low of $0.59c to a high of $1.28c.

I've never held BPG, yet have often looked at its potential and come away somewhat puzzled and questioning just how unique/beneficial/competitve  BPG's SAAS moat actually is?

The following is Ophir Asset Managements recent newsletter which examines Zeta Global a NTSE listed tech company that seems to operate in the same tech sector as BPG (maybe more biassed to large enterprise customers than BPG's SME's?).....  however, it's an interesting read (and highlights how difficult/competitive) this market sector is.

https://www.ophiram.com.au/stock-in-focus-zeta-global-nyse-zeta/

Another company apparently thriving in Zeta's & BPG's SAAS market is Salesforce. https://www.salesforce.com/au/?ir=1

Sssooo my question remains,  just how unique/competitive is BPG's SAAS product offering?

Judging by recent SP action, the market seems to need  more assurance.

[HAWKDOG]

 A recent report by Bell Potter has a $1.45 price target for Black Pearl.

https://www.fool.com.au/2025/12/10/bell-potter-says-this-new-asx-ai-stock-could-rise-70/

Full report was sent by email by Sharesies,

[lorraina]

Presentation.Exciting .
https://api.nzx.com/public/announcement/466628/attachment/461240/466628-461240.pdf

[Forrestdun]

Market liked the quarterly report it seems

[Left Field]

BPG fans should be happy.....ARR slowly approaching $30mill........profitability indicators absent.

https://www.nzx.com/announcements/471223

 Annual Recurring Revenue (ARR): $26.8m, up 114% YoY and 13% QoQ
 • Revenue Churn: DaaS at 0%, while SaaS improved 0.4ppt YoY to 4.9% (from 5.3% in Q4 FY25)
 • CAC Payback Period: 3.5 months, improved from 3.9 in Q3 FY26 and down 33% YoY
 • ARR Per Employee: $346k, up 41% YoY and 12% QoQ