BluGlass (BLG) Q1 2027 TU earnings summary

Executive summary

• Advanced customer-funded GaN laser development programs, including expanded Uviquity work and a new scientific and medical device collaboration.

• Completed Year Three of the U.S. Microelectronics Commons program and continued multi-phase work with a Tier 1 U.S. defence prime and a Fortune 500 data-storage leader.

• Secured an A$8.0m Rockford R&D facility and ended the quarter with A$8.66m cash and cash equivalents.

Financial highlights

• Q1 FY27 customer receipts were A$1.662m; net cash used in operating activities was A$3.123m.

• R&D expenditure excluding staff costs was A$1.622m; staff costs were A$2.233m and administration and corporate costs were A$601k.

• Net cash used in investing activities was A$2.421m; net cash from financing activities was A$2.922m.

• Cash and cash equivalents fell from A$11.343m to A$8.655m during the quarter.

Outlook and guidance

• Paid development programs target future product supply, with work spanning epitaxial design, device architecture, process integration, laser fabrication and packaging.

• The Uviquity Phase II program adds engineering, packaging, laser integration and purchases of visible GaN lasers.

• The new feasibility study is expected to run for three to five months and assess process compatibility for a GaN-based device targeting scientific and medical markets.

• A$6.1m FY26 R&D Tax Incentive refund received in October; A$2.75m was applied to the scheduled Rockford repayment.