Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • Blackpearl Group reported cash receipts of NZD 7.5 million in FY25, up from NZD 4.1 million in FY24.
  • The company completed the acquisition of U.S.-based B2B Rocket Inc.
  • Focus on higher-value accounts drove a 53% increase in ARPU over six months.

Blackpearl Group Limited (NZX:BPG) is a New Zealand-based software company specializing in AI-driven sales and marketing solutions for small and medium-sized enterprises (SMEs). The company leverages its Pearl Engine across international markets.

FY25 Operating Metrics

For the 12 months ended March 2025 (FY25), Blackpearl reported cash receipts from customers of NZD 7.5 million, a significant increase from NZD 4.1 million in FY24. The company recorded a net loss of NZD 9.2 million in FY25. In the previous corresponding year, net loss stood at NZD 5.4 million.

Key performance drivers included a strategic shift towards higher-value customer accounts, resulting in a 53% increase in average revenue per user (ARPU) over six months. The company also increased its headcount from 41 to 51 employees, making targeted hires in AI, product, customer experience (CX), and go-to-market (GTM) teams. Notably, annual recurring revenue (ARR) per employee reached NZD 245,000.

Capital Raising and Business Updates

In August 2025, Blackpearl closed its Retail Entitlement Offer, raising nearly NZD 3.4 million. In total, the company has secured approximately NZD 13.7 million through placements, institutional accelerated non-renounceable entitlement offers (ANREO), and retail participation.

On 21 August 2025, the company finalised its acquisition of B2B Rocket Inc., a U.S.-based AI sales automation firm. Blackpearl paid an initial USD 4 million in cash and issued 1.725 million BPG shares, with additional performance-based payments to follow.

Outlook

Blackpearl looks forward to expand its AI-powered solutions across the U.S. SME sector. The transition to higher-value accounts is expected to continue driving revenue growth, while the successful beta launch of Bebop demonstrated the company’s ability to bring new and impactful AI products to market.

Share performance of BPG

BPG’s shares closed at NZX 1.02 per share on 08 September 2025. In the last nine months, BPG’s share price dropped by almost 23.2%. The 52-week high of BPG is NZX 1.72 and 52-week low is NZX 0.59.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 08 September 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.