Friday 9th June 2023 |
Text too small? |
Black Pearl Group Limited (“BPG” and the “Company”) is pleased to provide the market with an update on Pearl Diver’s performance for May. This update serves to fulfil our regulatory obligation of keeping the market informed before we directly communicate the Service’s performance to our Shareholders through our email newsletter.
Pearl Diver is billed on a recurring monthly basis (annuity revenue). As the customer base grows through new sign-ups, each additional subscriber contributes to the overall revenue. This recurring billing model generates regular, predictable, and compounding revenue.
BPG is pleased to announce that it closed out May with a final figure of $339,536 in new annual recurring revenue (ARR). This is new ARR in addition to existing recurring ARR.
A notable achievement in May was the significant improvement made to the provisioning process for Pearl Diver. By automating internal implementation processes, the time required to onboard new customers has been reduced by 62.5% from April. This played a pivotal role in contributing to the overall success of the month, with our Customer Success Team converting 99% of the provisioning queue before the month concluded.
Streamlined provisioning positions the Company favourably for full self-service operations and opens new avenues for partner distribution opportunities.
For and on behalf of the board,
Karen Cargill
Chief Financial Officer
For further information, please contact:
karen.cargill@blackpearlmail.com | +64 21 135 5183
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes