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BluGlass
(Sydney:BLG)
BluGlass (BLG) vs. iShares MSCI Australia ETF (EWA)
BluGlass Business Overview & Revenue Model
BluGlass Financial Statement Overview
| 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
BluGlass Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$1.13B | 89.24 | ― | ― | 191.25% | 19.43% | |
67 Neutral | AU$54.60M | 15.13 | 10.79% | 4.66% | 14.59% | -11.13% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | AU$987.04M | -21.53 | -50.48% | ― | 333.23% | 10.83% | |
48 Neutral | AU$312.35M | -9.33 | -149.70% | ― | 503.29% | 11.46% | |
43 Neutral | AU$26.79M | -3.51 | -112.59% | ― | ― | -67.74% | |
41 Neutral | AU$26.37M | -2.31 | -81.16% | ― | 18.03% | 6.08% |
BluGlass Corporate Events
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 that these securities have ceased for reasons classified as “Other,” thereby slightly altering its equity incentive pool and overall capital structure.
The adjustment reflects routine management of BluGlass’s performance-rights program, which may relate to the vesting, lapsing or cancellation of employee or executive incentives. While the announcement does not specify the underlying cause, the reduction in outstanding rights marginally decreases potential future dilution for existing shareholders and clarifies the company’s current issued-capital position.
The most recent analyst rating on (AU:BLG) stock is a Sell with a A$0.17 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 performance rights were not notified via required ASX forms, and an incorrect post-consolidation balance was supplied after a 1:20 share consolidation in December 2025.
To align market records with its register, the company has cancelled 1,258,172 performance rights, a move that reflects reconciliation rather than a new cessation event, and confirms that no key management personnel participated in the earlier 1.5 million performance rights issue. BluGlass has introduced additional compliance controls, including formal reconciliations after security movements, dual verification of ASX filings, and periodic internal reviews, in an effort to strengthen reporting accuracy and reassure investors and regulators about its governance practices.
The most recent analyst rating on (AU:BLG) stock is a Sell with a A$0.17 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 supplier of precision lasers to leading quantum and defence programs, particularly in the U.S. market.
The lasers will support the Quantum Ultra-broadband Photonic Integrated Circuits and Systems initiative, which aims to build 300mm foundry-scale capability for quantum photonic chips spanning UV to IR wavelengths. Together with a recently extended CLAWS Hub contract, the TOPTICA order highlights building momentum in BluGlass’ U.S. government and industry engagements, supporting its strategy to convert initial niche orders into larger, longer-term development contracts.
The most recent analyst rating on (AU:BLG) stock is a Sell with a A$0.17 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 securities and may form part of its broader capital management and employee or stakeholder incentive arrangements.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.23 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 capital structure adjustment rather than a material capital raising event, and is unlikely to significantly impact the company’s operations, ownership structure, or market positioning.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.23 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 dilution for existing shareholders and forming part of its ongoing capital and incentive management strategy.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.24 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 securities slightly expands the company’s issued capital base, signalling ongoing utilisation of equity-linked incentives or financing arrangements without materially altering its capital structure, and will result in these additional shares being tradeable on the ASX from 30 January 2026.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.24 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 continued development of high-fidelity visible GaN lasers for advanced defence and quantum applications and bringing total awards under the program to $6.5 million for the first three years. The company overhauled its board to align governance with U.S. best practice, strengthened its intellectual property portfolio via a license from the University of California Santa Barbara and a consolidated PCT filing for high-peak power tunable lasers, and used its presence at the SPIE Photonics West conference to deepen a US$100 million sales pipeline, as quarterly customer receipts of $1.43 million and sustained R&D spending highlighted a push to convert its technology leadership into commercial scale and improved profitability.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.28 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 instruments, potentially affecting future capital structure and dilution outcomes for existing shareholders if exercised.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.32 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 or other convertible securities, modestly increasing the company’s quoted capital base and slightly diluting existing holders while providing incremental funding or balance sheet flexibility, though the release provides no further operational or strategic details.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.32 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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-linked securities, potentially providing additional future capital upon exercise while incrementally diluting existing holders, and signals continued use of option-based incentives or financing mechanisms as part of its capital management strategy.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.32 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 January 2026, will modestly expand the company’s listed capital base, potentially improving liquidity for existing shareholders and reflecting ongoing utilisation of equity-linked incentives or financing structures.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.32 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
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 Semiconductors (CLAWS) Hub led by North Carolina State University, bringing total awards to US$4.4 million (A$6.5 million) over the first three years. The new funding will support continued development of high-precision GaN lasers and integrated photonic technologies for defence, quantum and dual-use applications, reinforcing BluGlass’s positioning as a key commercialisation partner in the U.S. lab-to-fab ecosystem and providing non-dilutive capital that advances its technology roadmap, manufacturing capabilities and role in critical sovereign supply chains for emerging quantum and national security markets.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
BluGlass Limited, a company listed on the Australian Securities Exchange (ASX: BLG), announced the lapse of 159,576 performance rights due to the conditions of these securities being unmet or becoming impossible to satisfy, effective December 9, 2025. This notification impacts the company’s issued capital and reflects the operational challenges or adjustments pertaining to its conditional rights framework, which may influence stakeholder confidence and financial positioning.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
BluGlass Limited announced the issuance of 42,308 unquoted securities, specifically options expiring on May 31, 2028, with an exercise price of $0.38. This issuance reflects BluGlass’s ongoing financial activities and may impact its market positioning by potentially increasing its equity base, offering stakeholders insight into the company’s strategic financial maneuvers.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
BluGlass Limited has announced the quotation of 47,493 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective December 17, 2025. This move signifies an expansion in their financial operations, potentially enhancing liquidity and market presence, which could positively influence stakeholder confidence and support the company’s strategic growth initiatives in the semiconductor industry.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
BluGlass Limited has announced the appointment of Jim Haden as a director, effective December 9, 2025. This appointment includes Haden’s interest in various securities, including fully paid ordinary shares, unlisted options, and performance rights. The announcement reflects BluGlass’s strategic efforts to strengthen its leadership team, potentially impacting its operational capabilities and market positioning.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
BluGlass Limited has issued a correction to the Appendix 3Z Final Director’s Interest Notice for former Non-Executive Director Jean-Michel Pelaprat, clarifying his shareholding, performance rights, and unlisted options as of 9 December 2025. This correction ensures accurate reporting of director interests, which is crucial for maintaining transparency and trust with stakeholders.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
BluGlass Limited has announced the appointment of Andrew Palfreyman as the new Company Secretary, effective January 6, 2026. Palfreyman, a seasoned corporate lawyer and advisor, will be responsible for communications between BluGlass and the ASX, bringing his extensive experience in governance and compliance to the role. This strategic appointment is expected to enhance BluGlass’s operational governance and strengthen its industry positioning, potentially benefiting stakeholders by ensuring robust compliance and strategic oversight.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on BluGlass stock, see the AU:BLG Stock Forecast page.
BluGlass Limited has appointed CEO Jim Haden as Executive Director as part of its ongoing board refresh, aligning with US best practices. Under Haden’s leadership, the company has secured strategic partnerships and acquired a Silicon Valley laser production facility, positioning BluGlass for growth in high-growth precision markets such as defence, aerospace, and quantum sectors. This move is expected to enhance BluGlass’ industry positioning and operational capabilities, as it aims to overcome growth and commercialization challenges and expand its US footprint.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Bluglass stock, see the AU:BLG Stock Forecast page.
BluGlass Limited has successfully completed a consolidation of its issued capital, converting shares and options on a 20:1 basis following shareholder approval. This consolidation aims to streamline the company’s capital structure, with the new consolidated shares set to resume trading on 5 December. The consolidation process involved rounding up fractional securities, resulting in a slightly larger final consolidated figure than a straightforward 20:1 calculation would suggest. This move is expected to impact the company’s market operations by potentially increasing share value and simplifying shareholder records.
The most recent analyst rating on (AU:BLG) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Bluglass stock, see the AU:BLG Stock Forecast page.