Black Pearl Group (BPG) Q2 2027 earnings summary

Executive summary

• Q2 FY27 EBITDAF loss was $2.97m, within guidance and 34% lower QoQ; H1 revenue grew 42% YoY to $7.33m.

• Strategy centers on profitable growth, partner-led distribution and DaaS/PaaS, with EBITDAF profitability targeted for Q1 FY28.

Financial highlights

• H1 FY27 revenue was $7.33m, up 42% from $5.15m in H1 FY26; Q2 revenue was $3.39m.

• Q2 EBITDAF loss of $2.97m improved 34% from Q1’s $4.5m and was within the guided $2.5m–$3.0m range.

• Run-rate costs fell ~27% versus the Q4 FY26 peak, removing $9.4m in annualised costs; the full benefit applies from Q3.

Outlook and guidance

• EBITDAF profitability is targeted for Q1 FY28, the quarter ending 30 June 2027, replacing the prior Q3 FY27 target.

• H2 priorities are converting the partnership pipeline to contracted revenue, maintaining the lower cost base and reaching the profitability target.

• Statutory revenue will be used as the growth measure from Q3 FY27; larger partnership deals may close outside quarterly timing ranges.