Blackpearl reports a 264% increase in gross profit y-o-y
The Blackpearl Group has released its 2023 annual report highlighting the growth in organic revenue and data assets, completion of a strategic acquisition, and listing on the NZX.
Nick Lissette, the chief executive officer of the company, while sharing the key financial highlights of the year, shared that the company's total subscription revenue increased by 97% in the year ending March 31, 2023.
"Our gross profit increased by 264%, equity increased by 285%, and customer base increased by 496%. Throughout the year, we not only successfully delivered on all four pillars but also brought to the market a powerful new data service which has created a clear path to profitability."
"Since joining the NZX in December 2022, we have had a busy year, most recently celebrating the successful closure of our capital raise, an oversubscribed private placement, raising approximately NZ$2.2 million, with each ordinary share in BPG priced at NZ$0.42."
"Blackpearl Group is a data technology company focused on unlocking the potential of data for small and medium-sized businesses. We build, acquire, and market cutting-edge, cloud-based services that empower businesses to make data-driven decisions, drive productivity, and generate demand. We provide data transparency for businesses of all sizes, helping facilitate better decision-making and directly unlocking new revenue opportunities," explains Lissette.
In a world experiencing electric growth driven by AI and machine learning, the gap between the data 'haves' and 'have-nots' is ever-increasing. Small-to-medium-sized businesses often need more money and resources to unlock the value of data. For these companies, the concept of data can also be intimidating, but it needn't be. Data is information, and technology is the vehicle for displaying this information in practical or actionable ways. When combined to good effect, data technology can drive tangible business outcomes.
"Blackpearl Group's superpower is finding rare and hard-to-access data sets and building easy-to-use, affordable technology services to deliver them. Our latest service Pearl Diver is a prime example of this," adds Lissette.
"Businesses are often held to ransom by the major pay-to-play advertising platforms because these platforms control the data supply. Pearl Diver gives businesses transparency over their own data. They can quite literally see who is visiting their website and how to contact them. This valuable information is used to grow revenue by increasing marketing effectiveness and decreasing the cost."
For Blackpearl Group, services like Pearl Diver create strong, predictable recurring revenue streams.
"Our baseline sales trajectory adds hundreds of thousands of dollars in new annual recurring revenue each month," informs the chief executive.
"The growth prospects in this field are simply staggering. Our commitment to innovation, unwavering focus on customer satisfaction, and exceptional team of talented individuals place us at the forefront of this transformative era. The future shines brightly for Blackpearl Group, and we are determined to leverage every opportunity that comes our way."
