FY23 Preliminary Full Year Results Announcement

A CLEAR PATH TO PROFITABILITY

Black Pearl Group Limited (“BPG” or “Company”) is pleased to announce its unaudited preliminary results for the year ended 31 March 2023 (“FY23”).

The 2023 financial year was underpinned by purposeful investments in acquisition, technology, and a public listing, all paving the way for the Company's accelerated path to profitability.

UNAUDITED FINANCIAL RESULTS SUMMARY

The FY23 financial statements of BPG are still in the process of being audited, however BPG is not aware of any likely qualifications. The Company is not proposing to pay any dividends for the year ended 31 March 2023.

Key financial highlights:

• Total Subscription Revenue increased by 97%
• Gross Profit Increased by 264%
• Total Operating Costs $7.9m
• 85% increase in Net Assets
• 496% increase in customer base

Summary:

The unaudited result was in line with the Board’s expectations for the year-end and sees BPG continue to deliver on its drive to profitability in FY24.

Karen Cargill - Chief Financial Officer, Black Pearl Group Limited, commented - “For technology companies, ‘profit is the new growth’. Over the FY23 financial year, there was a seismic shift in how technology companies were valued - with a premium being placed on profitability. BPG worked hard over FY23 to not only get ahead of this trend but to ideally position itself to capitalize on it. Given the stability of the Company’s servicing costs, the availability of affordable and flexible resources, and the rapid growth of BPG’s data services the Board expresses strong confidence in BPG's favourable positioning to achieve substantial results in FY24 and beyond.”

Please also refer to the attached Black Pearl Group - FY23 Financial Statements and Black Pearl Group - FY23 Financial Commentary for the detailed results.

For and on behalf of the Board,

Karen Cargill
Chief Financial Officer

For further information, please contact:
[email protected] | +64 21 135 5183

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Announcement PDF