BluGlass (BLG) H1 2025 earnings summary

Executive summary

• Revenue increased 21% year-over-year to $5.05 million, driven by growth in foundry and project income.

• Loss after tax was $5.72 million, up 1% compared to the same period last year.

• Secured major contracts, including a US$1.925 million deal with North Carolina State University and a $1.2 million joint development agreement with a US start-up.

• Filed three US provisional patents for high-power tunable GaN lasers, expanding strategic capabilities.

• Hosted Australia's first national semiconductor conference and showcased new products at Photonics West.

Financial highlights

• Revenue rose to $5.05 million from $4.17 million year-over-year.

• Total expenditure increased 13% to $10.8 million, with employee benefits up 25% and consumables up 64%.

• Net assets at 31 December 2024 were $9.9 million, down from $14.9 million at 30 June 2024.

• Cash and cash equivalents stood at $3.8 million at period end.

• No dividends declared or paid during the period.

Outlook and guidance

• Focus remains on strengthening strategic partnerships, advancing technology, and scaling manufacturing.

• Pipeline includes multi-phase development agreements and large-scale projects with potential for follow-on production contracts.

• Secured $1.95 million funding against the FY25 R&D tax claim after period end.