New Zealand · Delayed Price · Currency is NZD Black Pearl Group Earnings Call Transcripts
Fiscal Year 2026
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Annual recurring revenue grew 114% year-on-year, driven by the Pearl Engine's superior AI capabilities and strategic acquisitions. Gross margin improved to 69%, with DaaS now nearly 40% of revenue and 0% churn. Focus shifts to optimization and cash generation in FY 2027.
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ARR reached NZD 26.8 million, up 114% year-on-year, with strong efficiency gains and zero DaaS churn. Focus shifts to operational momentum and efficient growth, targeting NZD 30 million ARR by year-end.
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Q3 delivered record organic growth, with ARR up 114% year-over-year and DaaS now 36% of recurring revenue. Efficiency gains include a 3.9-month CAC payback and zero churn in DaaS, while all ventures contributed to growth.
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ARR reached $19.5M with 59% YoY subscription revenue growth, driven by Bebop's launch and B2B Rocket acquisition. Gross margin improved 10% sequentially, and a strong cash position supports scaling. Data-as-a-Service and venture-led structure position the business for efficient, resilient growth.
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Q2 saw record 39% ARR growth to NZD 19.5M, driven by B2B Rocket acquisition, strong organic sales, and a successful NZD 15M capital raise. Pearl Diver's wholesale program and ASX cross-listing position the group for further high-margin, recurring revenue growth.
Fiscal Year 2025
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The meeting reviewed strong revenue growth, discussed a key resolution to ratify a share placement, and addressed shareholder concerns about dilution. Strategic initiatives included an ASX dual-listing and ongoing capital flexibility, with voting results to be announced via NZX.
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The meeting highlighted strong ARR growth driven by Pearl Diver and Bebop, strategic investments in AI and product development, and disciplined cost management. The board supported director (re)elections, approved key resolutions, and outlined ambitious U.S. market and revenue goals, with ASX listing under consideration.
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Achieved 91% year-over-year subscription revenue growth, driven by Pearl Diver and Bebop, with ARR per employee up 7% and gross margin at 68%. Well-capitalized for future growth, the company targets NZD 50 million ARR, focusing on U.S. SMEs and leveraging rapid AI innovation.
Fiscal Year 2024
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Shareholders were welcomed with a review of strong FY24 growth and imminent NZD 10M ARR. Strategic focus is on higher revenue per customer, new product packages, and leveraging data, while complacency and rapid competition in the U.S. market remain key risks.