Ann: Blackpearl Group Q4 FY25 Results Announcement, page-2

Nothing really really exciting or negative in this report, ok results. Their churn still high which indicates that those that were forced to the next level may not have seen value in using their product Pearl Diver. Nick also mentioned about how the global economy went to hell in a handbag and we maybe seeing churn for that reason, cutting costs and a bit of panic.

We got no real indication of how Bebop is doing, but they said it was resounding success. We will have to wait till FY analysis comes out and make our judgement from there. Otherwise no panic sell vibes from me and I feel we are near the bottom for the SP. Onward and upward. For those wanting to buy you may get handsomely rewarded, but if you can't afford to lose the money, wait till FY figures in a months time and then DYOR

Their 4Q Gross margin was impacted due to them paying both their legacy contract and new agreement. Their legacy contract will phase out and margins will improve once that has left the building.

They are still on target to make $20 million ARR within 7-12 months.