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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 | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.45M | 5.45M | 4.62M | 1.15M | 604.75K | 363.57K |
| Gross Profit | 2.28M | 2.28M | 2.55M | -11.84M | -10.22M | -7.94M |
| EBITDA | -7.97M | -7.97M | -12.00M | -15.88M | -10.23M | -7.42M |
| Net Income | -10.98M | -10.98M | -10.14M | -11.75M | -9.36M | -6.30M |
Balance Sheet | ||||||
| Total Assets | 23.93M | 23.93M | 23.14M | 21.70M | 20.46M | 13.56M |
| Cash, Cash Equivalents and Short-Term Investments | 5.74M | 5.74M | 5.57M | 4.26M | 5.35M | 4.18M |
| Total Debt | 7.10M | 7.10M | 4.68M | 4.49M | 4.63M | 3.51M |
| Total Liabilities | 12.34M | 12.34M | 8.25M | 7.81M | 7.24M | 6.05M |
| Stockholders Equity | 11.59M | 11.59M | 14.89M | 13.89M | 13.22M | 7.51M |
Cash Flow | ||||||
| Free Cash Flow | -7.96M | -7.96M | -8.42M | -12.48M | -10.53M | -4.90M |
| Operating Cash Flow | -6.15M | -6.15M | -6.95M | -11.88M | -6.26M | -4.81M |
| Investing Cash Flow | -2.08M | -2.08M | -1.47M | -681.82K | -4.28M | -90.10K |
| Financing Cash Flow | 8.57M | 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$80.08M | 10.05 | 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$1.07B | -26.84 | -50.48% | ― | 333.23% | 10.83% | |
50 Neutral | AU$934.21M | -154.61 | ― | ― | 191.25% | 19.43% | |
48 Neutral | AU$31.65M | -2.04 | -81.16% | ― | 18.03% | 6.08% | |
43 Neutral | AU$20.61M | -1.92 | -112.59% | ― | ― | -67.74% | |
38 Underperform | AU$345.81M | ― | -149.70% | ― | 503.29% | 11.46% |
BluGlass Corporate Events
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.
BluGlass Limited has announced an amendment to its Constitution following approval from shareholders at the Annual General Meeting. This update aligns with ASX Listing Rule 15.4.2 and reflects the company’s ongoing commitment to regulatory compliance and governance. The amendment is expected to support BluGlass’s strategic objectives and enhance its operational framework, potentially impacting its market positioning and stakeholder engagement positively.
BluGlass Limited announced that all resolutions were passed by poll at their Annual General Meeting. Notably, the ‘Adoption of Remuneration Report’ received over 75% approval. The meeting also saw the election of Mr. Omer Granit as Director and the ratification of prior issues of SPP shortfall shares and options. These outcomes are expected to strengthen BluGlass’s governance and operational framework, potentially enhancing its market position and stakeholder confidence.
BluGlass Limited held its Annual General Meeting, emphasizing its strategic positioning for market leadership. The company highlighted its focus on leveraging internal modeling and assumptions to address Service Addressable Markets, while cautioning investors about the uncertainties and risks involved in their projections.
BluGlass Limited’s 2025 AGM highlighted its strategic positioning in the semiconductor industry, particularly in GaN laser technology. The company is poised to leverage global trends in onshoring and supply chain resilience, with significant opportunities in defense and quantum computing markets. Recent board changes aim to accelerate commercial growth, with new directors bringing expertise in corporate law and commercialization. The company’s focus on high-value tactical markets and its unique manufacturing capabilities position it as a key player in next-generation technologies.
Bluglass Limited announced the cessation of 6,882,978 performance rights due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This development may impact the company’s capital structure and could have implications for stakeholders regarding the company’s operational goals and strategic plans.
BluGlass Limited has announced the resignation of director Stephe Wilks, effective November 10, 2025. With his departure, 3,191,489 performance rights held in the BLG Incentive Award Trust have lapsed, indicating a potential shift in the company’s governance structure. This change could influence BluGlass’s strategic direction and stakeholder relations, as the company continues to navigate the competitive semiconductor market.
BluGlass Limited has corrected two dates in its updated indicative timetable for a proposed share consolidation, aligning with the new Annual General Meeting date of 24 November 2025. The board recommends shareholders approve the consolidation, which is expected to impact the company’s trading schedule and shareholder records, reflecting a strategic move to enhance its market operations.
Bluglass Limited has announced an update regarding the consolidation or split of its securities, including ordinary shares and various options, due to a change in the date of its Annual General Meeting to November 24, 2025. This update may affect the company’s stock structure and could have implications for its stakeholders, potentially impacting market perception and investor decisions.
BluGlass Limited has announced an updated indicative timetable for its proposed share consolidation, which aims to create a more effective capital structure. The consolidation is subject to shareholder approval at the upcoming Annual General Meeting on 24 November 2025. This strategic move is expected to impact the company’s operations by potentially enhancing its market positioning and providing benefits to stakeholders.
BluGlass Limited has announced the appointment of Lucy Robb Vujcic as a new director, effective from November 10, 2025. This appointment is part of the company’s strategic efforts to strengthen its leadership team, although the new director currently holds no securities or interests in the company. This move is likely to impact BluGlass’s operational dynamics and potentially enhance its positioning within the semiconductor industry.
BluGlass Limited has announced the appointment of Ata Gokyildirim as a director, effective November 10, 2025. The announcement details that Gokyildirim currently holds no securities or interests in the company, indicating a fresh perspective and potential strategic shifts in the company’s governance.
BluGlass Limited has postponed its Annual General Meeting (AGM) originally scheduled for 19 November 2025, now set for 24 November 2025, due to recent board changes. The company announced the resignation of Directors Mr. James Walker and Mr. Stephe Wilks, and the appointment of Ms. Lucy Robb Vujcic and Mr. Ata Gokyildirim as new Independent Non-Executive Directors. Shareholders will consider the election of these new directors and the re-election of Mr. Jean-Michel Pelaprat at the rescheduled AGM. The changes reflect a strategic shift in the company’s governance, potentially impacting its growth and stakeholder engagement.
BluGlass Limited announced the resignation of Director James Walker, effective November 10, 2025. As a result of his resignation, 4,191,489 performance rights held by Walker have lapsed. This change in the board may affect the company’s strategic direction, and stakeholders will be observing how this impacts BluGlass’s ongoing projects and market positioning.
BluGlass Limited has announced a significant refresh of its Board, appointing Omer Granit as Executive Chair to lead the company into its next phase of global commercial growth. The changes include the addition of Lucy Robb Vujcic and Ata Gokyildirim as Non-Executive Directors, aiming to enhance BluGlass’ access to global capital markets and strengthen ties with US defense primes. The outgoing Chair, James Walker, and Non-Executive Director, Stephe Wilks, have been pivotal in transforming BluGlass from a semiconductor capital equipment IP company into a vertically integrated manufacturer with growing commercial traction. The company is now well-positioned to capitalize on opportunities in the defense, aviation, quantum, and next-generation computing sectors, as the US reshapes its advanced manufacturing capabilities.