Blackpearl Group targets $10 million milestone.
Annual recurring revenue doubles.
Blackpearl Group (BPG) today announced its results for the three-month period to 31 December 2023, showcasing significant growth driven by strategic initiatives and technological advancements.
KEY HIGHLIGHTS
- Subscription Revenue: Achieved a 215% increase year-on-year, reaching $1.2 million in Q3 FY24, up 29% from the previous quarter, Q2 FY24.
- Annual Recurring Revenue (ARR): Achieved a 122% increase year-on-year, totalling $5.5 million as of 31 December 2023, up 20% from the previous quarter, Q2 FY24.
- Gross profit margin increased to 73%, compared to 50% in Q3 FY23 and 70% in the previous quarter, Q2 FY24.
- ARR Per Employee: Demonstrated a significant increase of 314% year-on-year and 28% from the previous quarter, highlighting our team’s productivity and effectiveness.
BPG’s Chief Executive Nick Lissette commented on Q3 results, saying: “Every comparative metric has soared into triple digits, some even surpassing expectations multiple times over.” Despite challenges in the US market, recurring revenues increased 20% from Q2. Our short-term goals of $10 million recurring revenue and cash-flow profitability are imminent.
Lissette’s focus is on sustained exponential growth through product development, infrastructure optimisation, and robust operations. With bolder long-term targets, including reaching the $100 million revenue mark, BPG remains committed to innovation, strategic growth, and continued success.