Blackpearl targets US growth after strong rise in annual revenue
Blackpearl Group has reported a significant increase in annual recurring revenue and set out plans to achieve USD $50 million in ARR by leveraging a multi-product strategy and targeting growth in the US market.
The company ended the year to 31 March 2025 with USD $12.5 million in ARR, marking a 70 percent rise from the previous year. Blackpearl's average revenue per user rose by 53 percent over the past six months, with subscription revenue up 91 percent to USD $7.7 million, highlighting its ongoing expansion.
Chief Executive Officer Nick Lissette described Blackpearl's long-term strategy, stating, "Last year, we committed to setting ourselves up for the next stage of growth. We have the potential to be a billion-dollar company and we're creating a portfolio of solutions that balance high-risk innovation with consistent, long-term performance. We're innovating and executing at a pace that's hard for anyone to keep up with."
Lissette attributes the results to a strong focus on product development and continuous innovation. He said, "Last year, we told investors we would invest in the next stage of growth and we've proven this with the launch of Bebop, an AI-powered sales intelligence tool developed in a single quarter and the most successful beta in the company's history."
With a focus on small and medium-sized businesses in the United States, Blackpearl has expanded its suite of AI-powered solutions. "We're targeting the SME market in the US with AI-powered solutions that deliver measurable growth. With Pearl Diver firmly embedded and Bebop now live, the next phase of Blackearl's trajectory is dominance," Lissette commented.
Chief Financial Officer Karen Cargill emphasised the importance of execution alongside innovation. "At the same time, we've focused on scaling our core data infrastructure and transitioning to high-value enterprise customers. This has been a powerful multiplier of sustainable growth as we position ourselves for what's next," she said.
Pearl Engine, the company's core platform, processed 21 billion rows of data per day after scaling by 210 times over the past year. The company's subscription revenue reached USD $7.7 million, an increase of 91 percent from the prior year.
The company's key financial highlights include a gross margin of 68 percent, reflecting ongoing platform efficiency, and a rise in revenue concentration, with 17 percent of total revenue now generated by its top 10 customers, up from 10 percent the previous year. Pearl Diver, Blackpearl's solution aimed at the SME market, achieved approximately USD $10 million in ARR just eight quarters after its full launch.
During the reporting period, Blackpearl also completed a USD $12.5 million capital raise to fund its growth plans. The launch of Bebop followed what the company described as the most successful beta in its history.
Looking ahead, Lissette outlined Blackpearl's position in the AI landscape, stating, "As the AI landscape continues to shift, Blackpearl is not just chasing the future - it's actively building it. The AI opportunity is here and our platform has been purpose-built to capture it. We're positioned to lead AI-powered sales and marketing solutions for the US SME market and we're entering FY26 with clear momentum, a disciplined growth strategy and a compelling value proposition for investors."
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