BluGlass

AU: BLG

Market CapAU$34m

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 devices such as laser diodes, light emitting diodes (LEDs) and micro-LEDs.

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Investment summary

BluGlass has pivoted its innovative compound semiconductor manufacturing technology onto the development of high performance laser diodes which it intends to start shipping at scale over the coming year. Entering the laser diode market represents a route for BluGlass to grow revenues much more rapidly. Based on industry sources, management estimates that the global laser diode market will grow from A$369m in CY21 to A$849m in CY26, driven by demand for lasers in industrial, display, biotech, scientific and lighting markets. Management’s goal is to capture 8% of the laser diode market by calendar year 2026, potentially generating almost A$75m revenues annually.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (fd) (c)
P/E (x)
P/CF (x)
2019A 0.4 (5.1) (5.1) (1.21) N/A N/A
2020A 0.7 (3.6) (4.8) (1.01) N/A N/A
2021E N/A N/A N/A N/A N/A N/A
2022E N/A N/A N/A N/A N/A N/A
Industry outlook

In August BluGlass successfully demonstrated the world’s first working tunnel junction laser diodes manufactured using its proprietary RPCVD technology. The uncoated, unpackaged prototype devices have demonstrated good lasing behaviour. This milestone helps confirm the potential of the RPCVD laser diode designs for higher power, more efficient, high value, gallium nitride laser diodes for use in commercial applications such as 3D printing and industrial welding.

Last updated on 21/09/2021
Content on BluGlass
BluGlass – Brighter future, lower temperature
TMT | Initiation | 9 June 2021
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 9.7 (2.9) (57.4)
Relative* 12.0 (3.9) (66.1)
52-week high/low A$0.1/A$0.0
*% relative to local index
Key management
Brad Siskavich Executive VP
Ian Mann COO
James Walker Executive chair