Black Pearl Group (BPG) Q2 2025 TU earnings summary

Executive summary

• Annual recurring revenue (ARR) reached $10.4 million as of 30 September 2024, up 126% year-over-year and 22% quarter-over-quarter.

• Subscription revenue totaled $1.7 million, an 86% year-over-year increase and 14% quarter-over-quarter growth.

• Gross profit margin held steady at 73%, up from 70% in Q2 FY24.

• ARR per employee rose to $282k, a 95% year-over-year and 12% quarter-over-quarter increase.

• Recent oversubscribed private placement signals strong investor confidence.

Financial highlights

• New ARR per quarter grew 108% year-over-year.

• Average revenue per Pearl Diver customer increased 91% year-over-year.

Outlook and guidance

• Targeting $20 million ARR within 12 to 18 months.

• Focus on operational efficiency and revenue growth in Q3.

• Initiatives include structural improvements and leveraging new high-value data sources.