BluGlass Set to Boost Global Earnings with Growing Revenue-Generating Pipeline
Visible laser specialist BluGlass (ASX: BLG) is set to expand its global earnings on the back of a growing pipeline of more than 29 revenue-generating opportunities, valued at more than $154 million.
The Sydney-headquartered company highlighted a number of international breakthroughs in its June 2025 quarterly report, including its first order from the Indian government after gaining approval to be a supplier of visible lasers.
BluGlass also showcased its improved visible laser performance at the key International Congress on Nitride Semiconductors (ICNS-15) conference, including a 16% increase in multi-mode power conversion efficiencies and other technical enhancements.
Indian Defence Contract
BluGlass landed a $230,000 contract in early June from the Indian Ministry of Defence to develop gallium nitride (GaN) laser diodes.
The order entails benchmarking the fabrication process of GaN-based lasers for the country’s Solid State Physics Laboratory, a leading research institution in advanced semiconductor materials and device development.
Chief executive officer Jim Haden said the company’s growing list of relationships with governments and industry leaders highlights the increasing global need for visible lasers.
Technological Improvements
BluGlass also made significant technical progress across its product portfolio during the quarter, with the 16% conversion efficiency in the multi-mode GaN lasers taking the company close to its FY26 target ahead of schedule.
“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,” Mr Haden said
The company also achieved success in extending its wavelength capabilities and advanced the proficiency of its single-frequency distributed feedback laser.
Capital Raising Success
BluGlass successfully completed a $7.6m placement during the period, which the company plans to use to accelerate laser production to meet its contract requirements and support further technology developments.
Quarterly revenue of $1.8m comprised the company’s NCSU CLAWS Hub contract, growing laser product sales, and foundry services for a European wafer developer, with $2.65m invested in research and development.
“The strength of our pipeline reinforces the growing need for visible lasers, which […] will see our total addressable market reach $38 billion by 2033, currently serviced by just a handful of players with high barriers to entry,” Mr Haden said.
“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.”