Black Pearl Group (BPG) H1 2026 earnings summary

Executive summary

• Achieved all four strategic priorities: accelerating ARR growth, advancing Pearl/Blackpearl Engine capabilities, launching Bebop (AI product), and acquiring B2B Rocket, with all engines now operating for scale.

• Platform-driven, venture-led structure implemented to convert proprietary data into commercial outcomes and support long-term resilience.

• Strengthened balance sheet and diversified revenue streams, including expansion into Data-as-a-Service (DaaS).

• Focused on disciplined, efficient, and sustainable growth, with average revenue per employee over $250,000.

Financial highlights

• Annual Recurring Revenue (ARR) reached $19.5m, up 87% year-over-year.

• Subscription revenue for HY26 was $5.2m, a 59% increase year-over-year.

• Gross margin at 67%, down from 73% YoY but up 10% sequentially from Q4 FY25.

• Net loss for the period was $7.34m, with basic and diluted loss per share at $(0.11).

• B2B Rocket acquisition added $3.5m in ARR, with only 40 days contributing to subscription revenue.

Outlook and guidance

• Second half of FY26 will focus on scaling DaaS, advancing Bebop, increasing B2B Rocket's contribution, and leveraging fixed fee data supply for margin improvement.

• Strong DaaS pipeline with over $8m in ARR opportunities generated in the last 90 days.

• Targeting $50m ARR milestone, with continued efficiency improvements and scaling as capital is deployed.

• Annual contracts are standard for recurring revenue, with automatic renewals.