New Zealand's Black Pearl H1 revenue surges, helped by US distribution partnership

By Reuters News


Overview

  • New Zealand AI data intelligence firm's H1 FY27 revenue rose 42% yr/yr to NZ$7.33 mln

  • Q2 EBITDAF loss narrowed to NZ$2.97 mln; profitability now targeted for Q1 FY28

  • Company established US distribution partnership with major data provider, expanding pipeline


Outlook

  • Company now targets EBITDAF profitability in Q1 FY28, replacing prior Q3 FY27 target

  • Company prioritises converting partnership pipeline to revenue and maintaining lower cost base in H2 FY27

  • Company negotiating further distribution agreements and will update market as deals close


Result Drivers

  • COST BASE REDUCTION - Co said quarterly cost base fell 27% on a run-rate basis after consolidating sales, marketing, development and customer functions across ventures

  • US DISTRIBUTION PARTNERSHIP - Co established first US distribution partnership with major data provider, gaining access to a pipeline of 70+ companies and immediate CAC payback

  • TECHNOLOGY ADVANTAGE - Co said Pearl Engine widened its lead over leading foundational AI models, which contributed to securing US partnership


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

NZ$7.33 mln


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the software peer group is "buy"


Reuters Recommended Reads

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  • Oct 19 - AI chip startup Tenstorrent more than doubles its valuation to $6.2 billion in funding round


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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