New Risk • Jun 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 9.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risks Revenue is less than US$5m (AU$5.9m revenue, or US$4.2m). Market cap is less than US$100m (AU$59.6m market cap, or US$42.6m). Announcement • Jun 02
BluGlass Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million. BluGlass Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,769,230
Price\Range: AUD 0.26
Transaction Features: Subsequent Direct Listing Announcement • Apr 15
BluGlass Limited has completed a Follow-on Equity Offering in the amount of AUD 8.064 million. BluGlass Limited has completed a Follow-on Equity Offering in the amount of AUD 8.064 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,500,000
Price\Range: AUD 0.24
Discount Per Security: AUD 0.0144
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,100,000
Price\Range: AUD 0.24
Discount Per Security: AUD 0.0144
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Reported Earnings • Mar 02
First half 2026 earnings released: AU$0.032 loss per share (vs AU$0.062 loss in 1H 2025) First half 2026 results: AU$0.032 loss per share (improved from AU$0.062 loss in 1H 2025). Revenue: AU$2.56m (up 19% from 1H 2025). Net loss: AU$4.10m (loss narrowed 28% from 1H 2025). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. New Risk • Nov 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$1.57m (US$1.02m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.0m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (42% increase in shares outstanding). Market cap is less than US$10m (AU$1.57m market cap, or US$1.02m). Minor Risk Revenue is less than US$5m (AU$5.5m revenue, or US$3.6m). New Risk • Nov 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.0m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (42% increase in shares outstanding). Minor Risks Revenue is less than US$5m (AU$5.5m revenue, or US$3.6m). Market cap is less than US$100m (AU$31.4m market cap, or US$20.5m). Announcement • Oct 18
BluGlass Limited, Annual General Meeting, Nov 19, 2025 BluGlass Limited, Annual General Meeting, Nov 19, 2025. Location: at the offices of automic group, level 5, 126 phillip street, sydney, nsw 2000 Australia Board Change • Sep 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non Executive Director Stephe Wilks was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 28
Full year 2025 earnings released: AU$0.006 loss per share (vs AU$0.006 loss in FY 2024) Full year 2025 results: AU$0.006 loss per share (in line with FY 2024). Revenue: AU$5.45m (up 18% from FY 2024). Net loss: AU$11.0m (loss widened 8.3% from FY 2024). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. New Risk • Jul 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 40% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 6.7% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Revenue is less than US$5m (AU$5.7m revenue, or US$3.8m). Market cap is less than US$100m (AU$23.1m market cap, or US$15.2m). New Risk • Apr 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$7.1m free cash flow). Earnings have declined by 6.7% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (AU$5.7m revenue, or US$3.6m). Market cap is less than US$100m (AU$33.1m market cap, or US$21.0m). Announcement • Sep 20
BluGlass Limited, Annual General Meeting, Oct 21, 2024 BluGlass Limited, Annual General Meeting, Oct 21, 2024. Location: at automic group offices, at level 5, 126 phillip street, sydney, nsw 2000. Australia New Risk • Sep 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.4m free cash flow). Earnings have declined by 0.2% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Revenue is less than US$5m (AU$4.6m revenue, or US$3.1m). Market cap is less than US$100m (AU$49.6m market cap, or US$33.2m). Reported Earnings • Aug 28
Full year 2024 earnings released: AU$0.006 loss per share (vs AU$0.009 loss in FY 2023) Full year 2024 results: AU$0.006 loss per share (improved from AU$0.009 loss in FY 2023). Revenue: AU$10.1m (up AU$8.94m from FY 2023). Net loss: AU$10.1m (loss narrowed 14% from FY 2023). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Non-Executive Director Jean-Michel Pelaprat was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 05
BluGlass Limited has completed a Follow-on Equity Offering in the amount of AUD 5.868146 million. BluGlass Limited has completed a Follow-on Equity Offering in the amount of AUD 5.868146 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 157,842,057
Price\Range: AUD 0.037
Discount Per Security: AUD 0.00074
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 756,489
Price\Range: AUD 0.037
Discount Per Security: AUD 0.00074 New Risk • Feb 27
New major risk - Revenue and earnings growth Earnings have declined by 4.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 4.9% per year over the past 5 years. Revenue is less than US$1m (AU$1.1m revenue, or US$751k). Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (AU$55.0m market cap, or US$36.0m). Announcement • Feb 20
BluGlass Limited has completed a Follow-on Equity Offering in the amount of AUD 4.3 million. BluGlass Limited has completed a Follow-on Equity Offering in the amount of AUD 4.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 116,216,213
Price\Range: AUD 0.037
Discount Per Security: AUD 0.00074
Transaction Features: Subsequent Direct Listing Announcement • Jan 10
BluGlass Limited Announces Management Changes BluGlass Limited advised that Ms Elizabeth Spooner has resigned as Company Secretary of the Company. Ms Spooner will be replaced by Robyn Slaughter as Company Secretary with effect from 10 January 2024. Robyn is a Company Secretary who works closely with a number of boards of both listed and unlisted public companies across a range of industries including financial services, biotechnology and healthcare, technology, cyber security and manufacturing. Robyn is a qualified Governance Professional (CGI) and Affiliate of the Governance Institute of Australia (GIA), and holds a Master's degree in Corporate Governance and a Bachelor's degree in Accounting and Finance. New Risk • Oct 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$12m free cash flow). Earnings have declined by 4.9% per year over the past 5 years. Revenue is less than US$1m (AU$1.1m revenue, or US$730k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (AU$81.0m market cap, or US$51.6m). Announcement • Sep 13
Bluglass Limited Announces Executive Changes BluGlass Limited has appointed Samuel Samhan as Chief Financial Officer on a full-time basis, effective 11 September 2023. Mr. Samhan is a highly credentialled senior executive with more than 20 years financial leadership and commercial operations experience. He was previously the Chief Operating and Financial Officer at Digital Wellness - a global health platform. Other roles include Head of Commercial and Business Transformation at Vitality Works - Sanitarium Workplace Health and Wellness, and Commercial Manager at Evolution Healthcare Group. He replaces part-time CFO Rob Ambrogio, who resigned from the position to pursue personal projects. To ensure a smooth transition, Mr. Ambrogio will remain with the Company until 29 September 2023. Mr. Samhan holds a Bachelor of Business (Accounting), Master of Business Administration, and is a graduate of the Australian Institute of Company Directors. Announcement • Sep 08
BluGlass Limited, Annual General Meeting, Oct 09, 2023 BluGlass Limited, Annual General Meeting, Oct 09, 2023, at 10:01 E. Australia Standard Time. Location: Grant Thornton, Level 17, 383 Kent Street Sydney New South Wales Australia Agenda: To receive and to consider the Annual Financial Report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Directors' Report, the Remuneration Report and the Auditor's Report for that financial year; to consider Adoption of Remuneration Report; to consider re-election of Directors of the Company; to consider approval of Future Issue of Securities; to consider ratification of Prior Issue of Shares; to consider ratification of Prior Issue of Performance Rights; to consider ratification of Prior Issue of Options; to consider Adoption of Incentive Option & Performance Rights Plan; to consider approval of Issue of Performance Rights to James Walker, Vivek Rao, Stephe Wilks and Jean-Michel Pelaprat Directors of the Company; and to consider approval of Issue of Performance Rights. Reported Earnings • Aug 31
Full year 2023 earnings released: AU$0.009 loss per share (vs AU$0.009 loss in FY 2022) Full year 2023 results: AU$0.009 loss per share (in line with FY 2022). Net loss: AU$11.8m (loss widened 26% from FY 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Aug 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$12m free cash flow). Earnings have declined by 7.6% per year over the past 5 years. Revenue is less than US$1m (AU$995k revenue, or US$638k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (AU$70.3m market cap, or US$45.1m). Reported Earnings • Feb 25
First half 2023 earnings released: AU$0.004 loss per share (vs AU$0.005 loss in 1H 2022) First half 2023 results: AU$0.004 loss per share. Net loss: AU$5.36m (loss widened 16% from 1H 2022). Announcement • Jan 30
BluGlass Limited Launches Laser Product Suite at Photonics West BluGlass Limited has launched its first suite of gallium nitride (GaN) laser products for customer purchase at leading industry conference, SPIE Photonics West, in San Francisco, USA. BluGlass' lasers are available across 405nm, 420nm, and 450nm wavelengths in both single-mode and multi-modedevices. Customers can inspect performance data and purchase these products in a range of form factors including TO Cans of different sizes and Chip-on-Submounts. BluGlass' suite of available products have passed entry-level commercial specifications following significant product development, optimisation, and performance and reliability testing. The following products are now available for customer purchase: Violet 405nm multi-mode 1W laser; Violet 405nm single-mode 250mW laser; Violet 420nm multi-mode 1W laser; Violet 420nm single-mode 250mW laser; Blue 450nm multi-mode 1W laser; Blue 450nm single-mode 100mW laser. The Company has received interest from customers wanting to deploy BluGlass lasers in their product development programs, which span a multitude of applications including; 3D printing, quantum sensing and computing, material sensing, and flow cytometry. In addition to the launched products, laser diode designs in other wavelengths and specifications are progressing through BluGlass' supply chain, including RPCVD-enhanced products. Announcement • Nov 21
BluGlass Limited Demonstrates Feasible Reliability of Laser Diodes BluGlass Limited advised its gallium nitride (GaN) laser diodes have achieved feasible reliability, successfully demonstrating more than 500 hours of continuous operation with stable optical power and voltage in reliability testing. BluGlass' lasers maintained good performance and light-output during testing at 20-25°C, demonstrating light-output with less than 20% degradation - a key commercial standard for laser diodes. Reliability testing of these lasers is ongoing. Reliability feasibility is a critical prerequisite milestone for beta production and commercial product launches. These performance metrics enable BluGlass to increase its engagement with potential customers awaiting alpha and beta products, and indicate the design is ready for increased volume. Improvements in reliability are directly attributable to enhanced metals, facets, and bonds, completed by BluGlass' contract manufacturers. Newer iterations with further improvements to the four key components of laser diodes are currently progressing through BluGlass' supply chain, and the Company is working to increase manufacturing quality and yields with its Silicon Valley production facility and team. Reported Earnings • Aug 25
Full year 2022 earnings released: AU$0.009 loss per share (vs AU$0.009 loss in FY 2021) Full year 2022 results: AU$0.009 loss per share (vs AU$0.009 loss in FY 2021). Net loss: AU$9.36m (loss widened 49% from FY 2021). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Announcement • Aug 22
BluGlass Limited Announces Appointment of Rob Ambrogio as CFO BluGlass Limited has appointed highly experienced finance executive Mr. Rob Ambrogio as Chief Financial Officer to lead the business' finance functions through its next phase of growth and transformation. A Chartered Accountant, Mr. Ambrogio has more than two decades' experience leading high-performance finance teams in high-growth public, private and Not-for-Profit enterprises. Mr. Ambrogio has previously held CFO roles at Gowing Bros Limited, employment and training firm MTC Australia Limited, and leading Australian marketing agency Creative Activation. During his time at Gowing, Mr. Ambrogio managed assets of more than $300 million, and he was key to Creative Activation's successful acquisition by Clemenger Group. Announcement • Jul 30
BluGlass Limited, Annual General Meeting, Oct 04, 2022 BluGlass Limited, Annual General Meeting, Oct 04, 2022. Agenda: To consider re-election of certain Directors. Announcement • Apr 05
BluGlass Limited (ASX:BLG) completed the acquisition of Silicon Valley Laser Diode Production Facility and Equipment. BluGlass Limited (ASX:BLG) entered into a non-binding agreement to acquire Silicon Valley Laser Diode Production Facility and Equipment for $2.5 million on March 24, 2022. Purchase price comprising $2 million cash and $0.5 million of new BLG shares. Agreed terms to acquire laser diode fabrication equipment and the lease of 19,000 sq ft purpose-built laser diode manufacturing facility in Silicon Valley. To fund the acquisition and ongoing operation of the production facility, BluGlass has secured a $2.55 million via a Placement to new and existing institutional and sophisticated investors.
BluGlass Limited (ASX:BLG) completed the acquisition of Silicon Valley Laser Diode Production Facility and Equipment on April 4, 2022. Reported Earnings • Feb 24
First half 2022 earnings: EPS exceeds analyst expectations First half 2022 results: AU$0.005 loss per share (vs AU$0.005 loss in 1H 2021). Net loss: AU$4.62m (loss widened 25% from 1H 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 176%. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 25
Full year 2021 earnings released: AU$0.009 loss per share (vs AU$0.013 loss in FY 2020) Full year 2021 results: Net loss: AU$6.30m (loss widened 5.1% from FY 2020). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. Executive Departure • Jun 14
MD, CEO & Executive Director Giles Bourne has left the company During their tenure, earnings grew by 14% annually compared to the industry average of 12%. On the 7th of June, Giles Bourne left the company after 6.8 in the role. As of March 2021, Giles still personally held 4.86m shares (AU$107k worth at the time). Giles is the only executive to leave the company over the last 12 months. Under Giles' leadership, the company delivered a total shareholder return of -86%. Announcement • Jun 08
Bluglass Limited Receives Results of Laser Diode Development BluGlass Limited received the latest results of testing for its laser diode development. The prototype laser diodes are showing lasing results consistent with commercial specifications for output power and wavelength, demonstrating the soundness of the BluGlass wafer epitaxial process. However, reliability testing has demonstrated weaknesses with the post epitaxy production steps, with gradual loss of light output due to degradation of the optical facet of the BluGlass laser chip when operated to high power in continuous wave conditions. While disappointing, the results confirm that BluGlass' core laser diode design is working to specification, and the challenges the Company is facing are in production steps involving third party providers. As an historically R&D business, these steps are new to BluGlass, but also well understood in the industry generally, and hence BluGlass is confident that they can be solved expeditiously. BluGlass intends to place all of its short-term focus on resolving the reliability issue, and over the coming year on all aspects of the production supply chain to scale commercial grade products needed by the market - to be demonstrated by customer orders of product. Given the nature of the challenge, the Company intends to seek additional experienced assistance in the post epitaxial phase of development, from those with established production capabilities from the industry. Reported Earnings • Feb 24
First half 2021 earnings released: AU$0.005 loss per share (vs AU$0.008 loss in 1H 2020) First half 2021 results: Net loss: AU$3.69m (loss widened 17% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Announcement • Oct 13
Bluglass Limited Announces to Provides Update on its Laser Diode Product Development BluGlass Limited announced to present update on its laser diode product development. The laser diode business unit has made progress in all three of its development areas: technology, product development and manufacturing preparedness. The company is developing a range of laser products to fulfill unmet needs in the gallium nitride (GaN) laser industry. These products include standard laser diode designs and novel, remote plasma chemical vapour deposition (RPCVD) tunnel junction designs, for multiple market segments, including industrial, display and biotech applications. The company remains on track to deliver initial sample products of one of its standard laser diode designs to customers for testing this calendar year and into early 2021, on the backof promising technical results in three of the laser diode product development roadmaps. Three different standard laser designs; 405nm,
420nm and 450nm are demonstrating lasing behaviour, following multiple process steps in fabrication into test devices. The 405nm design is also showing good performance, approaching commercial specifications in brightness. These results have been verified through multiple fabrication vendors, as the company qualify both the laser diode designs and the manufacturing supply chain simultaneously. The process to manufacture a laser diode involves many complex steps, supplied by various specialist vendors. These devices are being simulated and modelled, designed, and then grown on wafers at BluGlass' Australian manufacturing facility. They are then shipped to the US for multiple wafer processing steps including cleaving (being cut into individual laser diode chips) before final optical coating (insertion of coated mirrors to enhance the directional emission/lasing), packaging and burn-in testing (performance reliability testing of 100,000 hours). There are several customer engagement points that can be initiated at different stages of performance throughout the manufacturing process. Some laser diode customers order custom laser diode wafer development, or R&D devices, before any of the downstream processing steps are required. Other customers require uncoated or unpackaged laser diodes or pre-burn in prototypes for custom applications or preliminary evaluation, with others requiring fully processed and packaged lasers. The company's laser diode development, international supply chain qualification and US test facility staffing have all progressed in line with the company's published goals towards its commercial manufacturing milestone.