BluGlass (AU:BLG)
ASX:BLG
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BluGlass
(Sydney:BLG)
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Rating:45Neutral
Price Target:
AU$0.24
â–˛(10.91% Upside)
Action:ReiteratedDate:03/05/26
The score is primarily held back by weak financial performance, including shrinking revenue, severe losses, and negative operating cash flow. Technicals provide partial support with the price above major moving averages, but momentum is mixed. Valuation is constrained by negative earnings and no stated dividend yield.
Positive Factors
Niche GaN laser expertise
BluGlass’s specialized focus on GaN visible‑wavelength laser diodes and related R&D/prototyping is a durable competitive asset. Deep technical know‑how and process IP target growing photonics end markets (displays, industrial, scientific), supporting licensing and long‑term product opportunities.
Negative Factors
Declining revenue trend
Shrinking top line (-4.8%) is a structural concern for a small technology supplier: it hampers scale, weakens negotiating leverage with customers, and makes it harder to spread fixed costs. Without clear commercial traction or new long‑term contracts, revenue decline undermines financial sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Niche GaN laser expertise
BluGlass’s specialized focus on GaN visible‑wavelength laser diodes and related R&D/prototyping is a durable competitive asset. Deep technical know‑how and process IP target growing photonics end markets (displays, industrial, scientific), supporting licensing and long‑term product opportunities.
Read all positive factors
BluGlass (BLG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$33.11M
Dividend YieldN/A
Average Volume (3M)93.41K
Price to Earnings (P/E)―
Beta (1Y)-0.09
Revenue Growth18.03%
EPS Growth6.08%
CountryAU
Employees25
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.03
Shares Outstanding132,443,510
10 Day Avg. Volume59,212
30 Day Avg. Volume93,413
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)1.44
Price to Sales (P/S)3.07
P/FCF Ratio-2.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
BluGlass Business Overview & Revenue Model
Company Description
BluGlass Limited, together with its subsidiaries, engages in the development of semiconductor manufacturing technology and devices for industrial, defense, display, and scientific markets in Australia and the United States. The company develops an...
How the Company Makes Money
BluGlass makes money primarily by commercializing GaN-based laser diode technology and related products and services. Key revenue streams include: (1) sales of laser diode products (including packaged devices and/or die, depending on customer requ...
BluGlass Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
45
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.86M | 5.45M | 4.62M | 1.15M | 604.75K | 363.57K |
| Gross Profit | -2.61M | 2.28M | 2.55M | -11.84M | -10.22M | -7.94M |
| EBITDA | -10.43M | -7.97M | -12.00M | -15.88M | -10.23M | -7.42M |
| Net Income | -9.36M | -10.98M | -10.14M | -11.75M | -9.36M | -6.30M |
Balance Sheet | ||||||
| Total Assets | 16.84M | 23.93M | 23.14M | 21.70M | 20.46M | 13.56M |
| Cash, Cash Equivalents and Short-Term Investments | 2.98M | 5.74M | 5.57M | 4.26M | 5.35M | 4.18M |
| Total Debt | 9.39M | 7.10M | 4.68M | 4.49M | 4.63M | 3.51M |
| Total Liabilities | 9.69M | 12.34M | 8.25M | 7.81M | 7.24M | 6.05M |
| Stockholders Equity | 7.15M | 11.59M | 14.89M | 13.89M | 13.22M | 7.51M |
Cash Flow | ||||||
| Free Cash Flow | -9.03M | -7.96M | -8.42M | -12.48M | -10.53M | -4.90M |
| Operating Cash Flow | -6.85M | -6.15M | -6.95M | -11.88M | -6.26M | -4.81M |
| Investing Cash Flow | -2.46M | -2.08M | -1.47M | -681.82K | -4.28M | -90.10K |
| Financing Cash Flow | 8.47M | 8.40M | 9.73M | 11.47M | 11.67M | 3.64M |
BluGlass Technical Analysis
Neutral
0.22
Price Trends
0.25
Positive
0.24
Positive
0.23
Positive
Market Momentum
<0.01
Positive
48.57
Neutral
56.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BLG, the sentiment is Neutral. The current price of 0.22 is below the 20-day moving average (MA) of 0.27, below the 50-day MA of 0.25, and below the 200-day MA of 0.23, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 48.57 is Neutral, neither overbought nor oversold. The STOCH value of 56.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:BLG.
BluGlass Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | AU$785.57M | -8.87 | -57.61% | ― | 333.23% | 10.83% | |
48 Neutral | AU$338.12M | -11.70 | -89.98% | ― | 503.29% | 11.46% | |
45 Neutral | AU$33.11M | -1.86 | -99.85% | ― | 18.03% | 6.08% | |
43 Neutral | AU$20.61M | -6.20 | -112.59% | ― | ― | -67.74% | |
42 Neutral | AU$76.45M | -7.24 | -36.17% | ― | ― | -45.74% | |
41 Neutral | AU$1.54B | -32.20 | -27.53% | ― | 5.81% | -86.09% |
* Technology Sector Average
AU:BLG
BluGlass
0.25
-0.09
-26.47%
AU:AXE
Archer Materials
0.30
0.02
9.09%
AU:BRN
BrainChip Holdings
0.15
-0.05
-26.83%
AU:4DS
4DS Memory
0.01
-0.02
-67.74%
AU:SLX
Silex Systems Limited
5.55
2.06
59.03%
AU:WBT
Weebit Nano Ltd.
3.72
1.90
103.84%
BluGlass Corporate Events
BluGlass issues small tranche of unquoted options under Appendix 3G
Mar 20, 2026
BluGlass Limited has notified the market of the issue of 667 unquoted options, exercisable at $0.38 and expiring on 31 May 2028, under its ASX Appendix 3G obligations. The small-sized grant modestly expands the company’s unquoted equity pool...
BluGlass adds small parcel of new shares to ASX quotation
Mar 20, 2026
BluGlass Limited has applied for quotation of an additional 667 ordinary fully paid shares on the Australian Securities Exchange, with an issue date of 20 March 2026. The small parcel of new shares arises from the exercise or conversion of existin...
BluGlass issues new tranche of unquoted options under Appendix 3G
Mar 12, 2026
BluGlass Limited has notified the market of the issue of 224,068 unquoted options, exercisable at $0.38 and expiring on 31 May 2028, under the ASX Appendix 3G framework. The new options, issued on 12 March 2026, modestly expand the company’s...
BluGlass Seeks ASX Quotation for New Share Issuance
Mar 12, 2026
BluGlass Limited has applied to the ASX for quotation of 224,068 new ordinary fully paid shares, following the exercise or conversion of existing options or other convertible securities. The new shares, issued on 12 March 2026, modestly expand the...
BluGlass Issues New Tranche of Unquoted Options
Mar 9, 2026
BluGlass Limited has notified the market of the issuance of 345,437 unquoted options, exercisable at $0.38 and expiring on May 31, 2028, under its ASX code BLGAR. The new options, issued on March 9, 2026, adjust the company’s unquoted equity...
BluGlass Seeks ASX Quotation for 345,437 Newly Issued Shares
Mar 9, 2026
BluGlass Limited has applied for quotation of 345,437 new ordinary fully paid shares on the Australian Securities Exchange, with an issue date of March 9, 2026. The additional securities arise from the exercise or conversion of existing options or...
BluGlass Wins A$1.25m GaN Laser Development Deal with U.S. Defence Prime
Mar 8, 2026
BluGlass has secured a A$1.25 million multi-phased development program with a U.S.-based tier-1 defence prime, centred on custom visible GaN distributed feedback lasers and gain chips for dual-use defence and aerospace applications. The customer, ...
BluGlass flags imminent customer order after ASX questions share price surge
Mar 6, 2026
BluGlass has responded to an ASX price query after its shares rose from $0.23 to $0.36 and trading volumes increased sharply between 3 March and 6 March 2026. The company told the exchange it is aware of price-sensitive information relating to the...
BluGlass halts ASX trading ahead of price‑sensitive customer order update
Mar 6, 2026
BluGlass Limited has requested and been granted a trading halt on its ASX‑listed securities, with the pause to remain in place until either the release of a forthcoming market announcement or the resumption of normal trading early next week....
BluGlass Issues Over 1.2 Million Unquoted Performance Rights Under Incentive Scheme
Mar 5, 2026
BluGlass Limited has notified the market of the issue of 1,216,250 unquoted performance rights under its employee incentive scheme, effective 5 March 2026. The new securities are not intended to be quoted on the ASX, underscoring the company’...
BluGlass Narrows Half-Year Loss as Revenue Rises but Asset Backing Falls
Feb 26, 2026
BluGlass Limited reported a 14% increase in revenue from ordinary activities to A$5.76 million for the six months ended 31 December 2025, compared with the prior corresponding period. Despite the top-line growth, the company recorded a net loss at...
BluGlass trims capital structure as 1.26m performance rights lapse
Feb 24, 2026
BluGlass Limited has notified the market of the cessation of 1,258,172 performance rights, recorded under ASX security code BLGAL, effective 24 February 2026. The company lodged the change in issued capital via an Appendix 3H filing, indicating th...
BluGlass corrects ASX performance rights records and tightens compliance controls
Feb 24, 2026
BluGlass has disclosed an administrative discrepancy between the number of performance rights recorded on the ASX and those actually on issue, identified following a review with its share registry. Historical cancellations and an issue of performa...
BluGlass wins TOPTICA order to power U.S. quantum photonics push
Feb 23, 2026
BluGlass has secured a A$190,000 order from TOPTICA Photonics Inc to supply custom GaN visible laser diodes for next-generation photonic integrated circuits targeting quantum technologies. The deal underscores BluGlass’ growing role as a key...
BluGlass Issues Additional Unquoted Options Expiring in 2028
Feb 6, 2026
BluGlass Limited has notified the market of the issue of 1,027 unquoted options, exercisable at A$0.38 and expiring on 31 May 2028. The small option grant, recorded under ASX code BLGAR, modestly increases the company’s pool of incentive sec...
BluGlass Seeks ASX Quotation for Additional Ordinary Shares After Option Conversions
Feb 6, 2026
BluGlass Limited has applied to the ASX for quotation of 1,027 new fully paid ordinary shares, following the exercise or conversion of existing options or other convertible securities. The modest increase in quoted securities represents a routine ...
BluGlass Issues New Tranche of Unquoted Options
Jan 30, 2026
BluGlass Limited has notified the market of the issue of 66,669 unquoted options, exercisable at $0.38 and expiring on 31 May 2028. The move modestly increases the company’s pool of equity-linked instruments, potentially affecting future dil...
BluGlass Seeks ASX Quotation for Additional Ordinary Shares
Jan 30, 2026
BluGlass Limited has applied to the Australian Securities Exchange for quotation of 66,669 new fully paid ordinary shares, following the exercise or conversion of existing options or other convertible securities. The modest increase in quoted secu...
BluGlass Extends U.S. Defence Contract and Revamps Board as GaN Laser Push Accelerates
Jan 30, 2026
BluGlass reported a pivotal December quarter marked by a A$1.05 million extension of its Year 3 CLAWS Hub subcontract with North Carolina State University under the U.S. Department of War’s Microelectronics Commons program, underpinning cont...
BluGlass Issues New Tranche of Unquoted Options
Jan 23, 2026
BluGlass Limited has issued 168,046 unquoted options (ASX code BLGAR) exercisable at A$0.38 and expiring on 31 May 2028. The new options, notified to the ASX via an Appendix 3G filing, modestly increase the company’s pool of equity-linked in...
BluGlass Seeks ASX Quotation for Additional Ordinary Shares
Jan 23, 2026
BluGlass Limited has applied to the Australian Securities Exchange for quotation of 168,046 new fully paid ordinary shares, to trade under its existing ASX code BLG. The additional shares arise from the exercise or conversion of existing options o...
BluGlass Issues 858,062 Unquoted Options Expiring in 2028
Jan 20, 2026
BluGlass Limited has issued 858,062 unquoted options, each exercisable at A$0.38 and expiring on 31 May 2028, as notified to the ASX under an Appendix 3G filing dated 20 January 2026. The move modestly expands the company’s pool of equity-li...
BluGlass Seeks ASX Quotation for 858,062 New Ordinary Shares
Jan 20, 2026
BluGlass Limited has applied for quotation on the ASX of 858,062 new fully paid ordinary shares, which have been issued following the exercise or conversion of options or other convertible securities. The additional shares, to be quoted from 20 Ja...
BluGlass Wins A$1.05m U.S. Microelectronics Contract Extension for GaN Laser Development
Jan 11, 2026
BluGlass has secured a third-year extension to its contract under the U.S. Department of War’s Microelectronics Commons program, adding US$680,000 (A$1.05 million) to its existing agreement within the Commercial Leap Ahead for Wide Bandgap S...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.