BPG Revenue and Product Update

Blackpearl | Level 1 60 Cuba Street
Wellington 6011 | New Zealand
hello@blackpearlgroup.com | +64 480 39390



4 March 2024
BPG Revenue and Product Update

Black Pearl Group Limited (NZX:BPG) is pleased to advise the market that in February
2024 the Company secured over NZ$1million in new Annual Recurring Revenue (ARR),
moving the total ARR to over NZ$7million.

Consistent growth has positioned BPG for recurring cash profitability as projected to the
market at the Annual Shareholder Meeting. Recurring cash profitability is a paramount
milestone for technology businesses.

As cash profitability nears, the Company has been able to increase resource allocation
to the next wave of technology to help maintain growth velocity beyond the short-term
NZ$10million ARR milestone. The first technology release pertains to the full
automation of purchasing and using Pearl Diver (DIY).

DIY is necessary to support scalable growth. The primary benefits of DIY are:
• Reducing resourcing constraints that are required to expand growth under a
traditional direct sales model.
• Further reduction of the time to recover a fully loaded cost of acquisition (CAC)
(note: the Company’s time for recovering CAC is already excellent at 4.9 months).
• Greater access to new markets, such as CRM and Marketing Automation
marketplaces, and affiliate marketing channels.

With the Direct Sales systems now in place to support over NZ$1million in new ARR per
month, coupled with the launch of DIY, Cherryl Pressley is transitioning back to being a
Non-Executive Director from her current role as an Executive Director. Cherryl has
helped put in place world class direct sales disciplines and the direct partner channel
framework. This move enables Cherryl to focus on leveraging her significant partnership
connections to aid the expansion of DIY, while also enabling the redistribution of
resources to support the expected new customer influx resulting from DIY.

We look forward to sharing our quarterly results after the close of March 2024 and
thank you for your continued support.

For and on behalf of the board,

Karen Cargill
Chief Financial Officer
For further information, please contact:
hello@blackpearlgroup.com | +64 480 39390