I'd like to welcome you to the Black Pearl Group's annual shareholder meeting. The team at Black Pearl has accomplished so much in the last 12 months. By almost every measure and metric, Black Pearl Group has gotten better. Black Pearl Group right now has all the winning formula pieces and parts. We have the team, the products, and we're playing in one of the biggest markets in the world, the U.S. market.
The market is undergoing unprecedented disruption, and that's enhancing demand for our services even further. We receive over 6 billion, that's with a B, data signals daily. With that data, we're creating new products and new features.
If we're growing our customers, our products, and our data, then we're well-placed for further growth, so the future is looking very good.
Our impressive growth that we've showed throughout FY24 has carried forward into Q1 FY25, and our NZD 10 million annual recurring revenue milestone is within imminent reach.
Are there any questions received from shareholders?
With millions of potential customers, 1,472 Pearl Diver users seems somewhat insignificant.
Part of our strategy has been, over the last year, increasing the average revenue per customer, not just increasing customer numbers. Think about it. We really only need, like, 10,000 customers to get to $100 million in annual recurring revenue.
What are the major growth opportunities?
The new 3 and 5K packages. We have started to sell them, and I will tell you, they make a massive difference from a sales perspective, 'cause you can get one deal, and it adds $100,000 worth of annual recurring revenue. So that, for me, is a massive short- to mid-term opportunity.
What, not who, is the biggest competitor threat to Black Pearl?
Well, that's a good question. You stumped me with that one. Status quo is definitely... or, you know, just reverting to doing nothing, complacency.
In the U.S. market, any good idea almost immediately has dozens of competitors. The biggest thing that's gonna change in this business in the next three to five years is generative AI. The Kiwi mindset, the Kiwi spirit, the Kiwi kind of customer satisfaction engagement, this is a huge differentiation in the U.S. market.
I should have let him take that out of the gate. Wow! Oh, go Tim. Tell us more about how great New Zealanders are. I really enjoyed that part.
Well, thank you very much for attending the Black Pearl Group annual meeting, and the results of the meeting will be released to the NZX as soon as possible.