Blackpearl Group 2023 Half Year Results Announcement
![Hyper-growth Half year report 2023](https://www.blackpearl.com/wp-content/uploads/2023/11/Hyper-growth.png)
Hyper Growth
Blackpearl Group (BPG) today announced financial results for the six months to 30 September 2023, showcasing significant growth driven by strategic initiatives and technological advancements.
Key Highlights
- Subscription Revenue: Achieved a 163% increase year-on-year reaching $1.5 million as at 30 September 2023.
- Annual Recurring Revenue (ARR): Achieved a 221% increase year-on-year, reaching $4.6 million as of 30 September 2023.
- Gross Profit: Grew by 284% year-over-year, reflecting our operational efficiencies and strategic investments.
- Gross profit margin increased from 46% to 67% year-on-year
- $3 million of liability removed from the balance sheet in the 6 months since 31 March 2023
- Revenue Per Employee: Demonstrated a significant increase of 187%, highlighting our team’s productivity and effectiveness.
- Total Expenses: Increased by $1.3 million from the 6 month period to 30 September 2022, primarily due to growth-related activities including the Newoldstamp acquisition, NZX Listing, and revenue growth related costs