On reflection of the Annual Financial report there are positives...

On reflection of the Annual Financial report there are positives take aways>

From Chairman James Walker:

"BluGlass enters FY24 fundamentally transformed. We look forward to building on this significant momentum in the year ahead as we deliver a continuous pipeline of competitive products and novel capabilities to rerate the business, build significant company value, and set the business up for continued success"

From President Jim Haden:

"Looking ahead, FY24 promises to be truly transformative for the business and is shaping up to be the most important year in BluGlass’ journey. Customers have validated our unique market approach, our GaN lasers continue to rapidly advance towards best-in-class performance, and we are working with industry leaders to qualify our products in both their existing applications while working towards being ‘designed-in’ in a range of promising next-generation technologies."

From the Directors report:

"Progressing agreements from initial discussions through to qualification and full-scale manufacturing often takes multiple months, and sometimes even years for novel, advanced, and high-power applications. However, early engagement is necessary to become ‘designed-in’ in customers’ products. BluGlass is in advanced discussion with multiple customers and is working diligently to convert these to long-term agreements while engaging with additional prospective customers and partners. The Company expects to secure new orders in Q1 FY24, which will be shipped in line with industry standard 8–12-week timeframes."


So we can expect new orders this month from that statement!

The Year ahead:

BluGlass enters FY24 focused on delivering against its product and commercialisation roadmaps, improving yield and performance, qualifying products in customer applications, onboarding additional customers, and securing larger purchase orders of its GaN lasers. At the same time, the business will complete integration of its external wafer fab contract manufacturers into its Silicon Valley fab and establish regional distribution agreements in key laser jurisdictions including Europe and the US.

Ongoing manufacturing refinements will continue to enhance laser performance and yield over the coming year, enabling BluGlass to bring better-quality lasers to market much faster. In FY24, BluGlass will introduce higher-power and more efficient lasers across core wavelengths (405nm – 450nm), extend its product offering in ultra-violet and green wavelengths, and begin launching next-generation products leveraging the Company’s unique RPCVD technology.

In FY24, BluGlass will continue to address its customers’ key challenges head-on, building its position as the partner-of-choice for GaN lasers. Specialising in visible lasers with packaging and manufacturing flexibility, BluGlass’ market position is unique. The GaN laser market is highly constrained with customer engagement continuing to reaffirm the need for an agile manufacturing partner and dedicated provider in this market to address demand and deliver brighter, better performing, and longer wavelength devices. Visible laser diodes are increasingly important to enable future technologies, and BluGlass is well-placed to capitalise on this demand.

Currently at a $65 million market cap plenty of room for upside IMO!