Data technology company, Blackpearl Group, has reported strong financial results for the fourth quarter of the 2023-24 fiscal year.
Subscription revenue for the quarter reached $1.3 million, representing a 184% increase compared to the same period last year.
The company also saw a 177% year-on-year growth in annual recurring revenue, which stood at $7.4m as of March 31 2024.
Blackpearl's gross profit margin for Q4 FY24 improved to 75%, up from 52% in the previous year's fourth quarter.
In addition, the company's annual recurring revenue per employee recorded a significant increase of 359% year-on-year, amounting to $230,000.
Blackpearl Group's chief executive, Nick Lissette, attributed the strong performance to hyper growth and expressed a focus on sustained exponential growth through innovation and strategic moves.
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