BluGlass Limited: June 2024 Quarter Activities Update

BluGlass Limited (ASX: BLG) released its update and Appendix 4C Quarterly Report for the three months ending 30 June 2024 (Q4 FY24).

1-During the quarter, on 8 July, BluGlass secured a payment of AU$1.93 million for transferring non-laser-based intellectual property rights to its European wafer developer customer. BluGlass developed this intellectual property under a paid foundry services contract starting in January 2022.

2-In April, BluGlass published a technical white paper showcasing the performance enhancements of BluGlass’ gallium nitride Distributed Feedback lasers. These lasers have demonstrated industry-leading side-mode suppression ratios with power output exceeding 100mW while operating at single frequencies across various current densities. BluGlass’ visible DFB laser demonstrations have achieved near-single wavelengths with extremely narrow full width at half maximum wavelength distribution and high side mode suppression ratio, which is the suppression of undesirable wavelengths.

3-BluGlass and ShareCafe continued their market education series during the quarter, hosting an expert roundtable on how GaN semiconductors support next-generation applications across quantum, defense, aviation, robotics, and artificial intelligence.

4-BluGlass reported its strongest-ever quarterly revenue, generating AU$2.78 million in Q4 FY24. This includes revenues from the NCSU CLAWS contract, foundry services, IP transfer for the European wafer developer, and laser orders. The company has achieved three consecutive years of topline revenue growth, reflecting the early benefits of its growth strategy and the increasing revenues from laser projects, foundry services, and laser products.

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