Blackpearl Group doubles annual recurring revenue

Data technology company, Blackpearl Group, is on track to reach a significant milestone as its annual recurring revenue (ARR) doubles.

ARR reached $5.5 million as of Dec 31 2023, reflecting a 122% increase year-on-year and a 20% increase from the previous quarter.

The company's chief executive, Nick Lissette, expressed confidence in achieving their short-term goals of $10m in recurring revenue and cash-flow profitability.

Blackpearl Group also saw impressive growth in subscription revenue, which rose by 215% to $1.2m in the third quarter of the 2023 financial year.

The company's gross profit margin also saw an improvement, reaching 73%.

With a focus on sustained exponential growth, product development, and infrastructure optimisation, Blackpearl Group remains committed to innovation and strategic growth.