BluGlass

AU: BLG

Market CapAU$37m

Last Close AU$0.03

BluGlass is an Australian technology company that is developing and commercialising a breakthrough compound semiconductor technology for the production of high efficiency, high power laser diodes.

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Investment summary

BluGlass has raised A$3.4m through a placement at A$0.03/share to purchase a laser diode fabrication facility (fab) in California’s Silicon Valley. It has also raised A$3.7m (gross) through an entitlement offer of up to A$7.5m to existing shareholders, also at A$0.03/share, and has three months in which to place all or part of the rights issue shortfall. The proceeds will be used to convert the fab to gallium nitride (GaN) laser diode production, which is in line with management’s stated aim of bringing third-party processes in-house.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (fd) (c)
P/E (x)
P/CF (x)
2020A 0.7 (3.6) (4.8) (1.01) N/A N/A
2021A 0.4 (4.6) (6.8) (0.94) N/A N/A
2022E N/A N/A N/A N/A N/A N/A
2023E N/A N/A N/A N/A N/A N/A
Industry outlook

BluGlass intends to use the fab for volume manufacture of blue GaN laser diodes, potentially including proprietary tunnel junction diodes made using its patented remote plasma chemical vapour deposition process, which should be higher power and higher brightness than any currently available. In the longer term, the proposed transaction will quadruple the volume of laser diodes that BluGlass can sell. In the short term, it will enable BluGlass to complete design iterations more quickly, thus potentially reducing the time it will take to bring the next generation of higher power laser diodes to market and maximising the market opportunity.

Last updated on 24/05/2022
Content on BluGlass
BluGlass – executive interview
TMT | Edison TV | 5 April 2022
BluGlass – Fund-raising and acquisition
TMT | research Update | 28 March 2022
Bluglass Open Day (LR)-22
BluGlass – Further progress towards commercialisation
TMT | research Update | 28 February 2022
Bluglass Open Day (LR)-22
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Share price graph
Balance sheet
Forecast net debt (A$m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 0.0 (11.6) (48.8)
Relative* 5.4 (13.0) (49.5)
52-week high/low A$0.0/A$0.0
*% relative to local index
Key management
Brad Siskavich Executive VP
Ian Mann COO
James Walker Executive chair
Jim Haden President