BluGlass reports on latest quarter
Australian laser pioneer BluGlass has posted a report for the three months ended 30 June 2025 (Q4 FY25). During the quarter, the company strengthened its balance sheet, securing $7.6 million to accelerate laser production to fulfil new and existing contracts, implement new fab equipment, and support working capital.
Strong quarterly revenue of $1.8 million comprised the NCSU CLAWS Hub contract, growing laser product sales, and foundry services for a European wafer developer.
BluGlass’ Q4 FY25 research and development expenses were $2.65 million, inclusive of salaries, materials, and fabrication costs. Payments to related parties during the quarter were $109k encompassing chair and non-executive director fees.
CEO Jim Haden said: “BluGlass continued to strengthen its industry recognition during the quarter, securing its first order from the Indian Government and being authorised as an approved supplier. India is rapidly building its photonics capability with increased investment in cutting-edge research, such as the Solid-State Physics Laboratory. Our partnership with the Indian Government builds on our established development work with the US Department of Defence, and continued conversion of our $US100 million project pipeline. While these opportunities are in various stages of maturity, we are continuing to progress technical evaluations and negotiations in line with our long-term project to product strategy."
He continued: “In parallel, we’ve made significant technical progress across our product portfolio. We’ve improved the power conversion efficiency of our multi-mode GaN lasers by 16 percent, approaching our FY26 target of 43 percent CW PCE ahead of schedule. Power conversion efficiency is critical for customers, increasing device longevity and reducing operational costs. Encouragingly, this now brings us in line with several of our large competitors, who have taken many years or decades to reach this PCE performance standard. We believe we can further improve this metric over the coming year. Other technical enhancements include extending our wavelength capabilities with demonstrated aqua-marine and light green wavelengths, as well as improved capabilities of our single-frequency Distributed Feedback (DFB) lasers.
“Technical advancements support our conversations with new and prospective defence, quantum, and biotech customers, offering advanced precision and tuneability in visible wavelengths. Quantum advancements are being underpinned by stimulated light interaction with unique materials, down to the atomic scale, requiring specific wavelengths, and tunability - to target individual atomic interactions. Our modelling collaboration with UCSB and NCSU is accelerating our development in this domain, enabling us to leverage the world-class skills, capability, and expertise of our Microelectronics Commons partner to improve the quality and repeatability of our DFB lasers.”
CEO Jim Haden concluded: “ Our go-to-market strategy has resulted in a growing pipeline of more than 29 active, large revenue- generating opportunities. Collectively, the total project value of our pipeline exceeds US$100 million, and includes household names and government partners from the quantum, defence, aerospace, consumer electronics, biomedical, and med-tech sectors. These projects are at all stages of maturity, from inception to negotiation.
“The strength of our pipeline reinforces the growing need for visible lasers, which underpin almost all next- generation technology, from quantum sensing and computing through to autonomous exploration and navigation. This demand will see our total addressable market reach $38 billion by 2033, currently serviced by just a handful of players with high barriers to entry. Ongoing laser performance improvements and our ability to solve our customers’ biggest challenges ensure we are well-positioned to be designed into these next-generation applications, providing long-term product revenues.”
