Buy-back plans and expansion targets hint at deeper long-term confidence.
Market Momentum BuildsInvestor sentiment strengthened after both companies released earnings updates that highlighted operational progress, stronger strategic positioning, and ambitious growth plans. While Select Harvests benefited from improving almond market fundamentals and production expansion, Blackpearl captured market attention through rapid recurring revenue growth and the commercial validation of its AI platform.
Select Harvests Limited (ASX: SHV) traded at AU$3.980, rising approximately 10%.
Blackpearl Group Limited (ASX: BPG) traded at AU$0.650, gaining approximately 4.00%.
Almond Processor Earnings ExpansionSelect Harvests delivered a solid HY2026 performance, supported by higher almond volumes, improved processing capability, and favourable global pricing conditions. The company reported underlying NPAT of AU$29.1 million, up 32.9% year-on-year, while reported NPAT stood at AU$26.6 million. The company also forecast a 2026 almond crop of 29,500MT alongside an almond price expectation of AU$10.21/kg.
Management noted that the business is entering a structurally stronger earnings phase, with second-half profitability expected to benefit from rising external grower volumes and value-added sales. Processing capacity has increased to approximately 55,000MT, while investments in crop drying, kernel recovery, and harvesting efficiency are supporting yield improvements and operational resilience.
The Board declared a fully franked interim dividend of 3.5 cents per share and announced an on-market share buy-back of up to 10% of issued capital, signaling confidence in the company’s valuation and long-term outlook. Management also reiterated ambitions to scale operations toward 65,000MT production and AU$700 million in revenue by 2030.AI Data Solutions Fuel MomentumBlackpearl Group posted one of its strongest growth periods to date, with annual recurring revenue (ARR) surging 114% year-on-year to NZ$26.8 million. Subscription revenue climbed 77% to NZ$13.7 million, while the company maintained 0% churn across its Data-as-a-Service (DaaS) business.A key catalyst behind investor interest was the company’s “Pearl Engine” AI platform, which management said produced 25 times more A-grade commercial records per dollar than leading generalist AI models in a third-party benchmark. The platform processes 31 billion data signals daily across more than 330 data sources, strengthening Blackpearl’s positioning in vertical AI applications for sales and marketing.The company also completed the integration of B2B Rocket, identified AU$1.8 million equivalent in annualised cost synergies for FY27, and refinanced debt facilities to strengthen liquidity. Management indicated FY27 would focus equally on ARR growth and cash conversion as the business scales further.Growth Outlook Remains PositiveSelect Harvests appears well positioned to benefit from tightening global almond supply, rising demand for healthy food products, and its expanding processing network. The company’s production upgrades and shareholder return initiatives could continue supporting investor confidence if pricing conditions remain favourable.Meanwhile, Blackpearl is transitioning from a high-growth technology story into a commercially validated AI platform business. Strong ARR expansion, improving unit economics, and deeper enterprise integration may strengthen its long-term scalability. As competition intensifies across AI markets, execution and monetisation efficiency are likely to remain the key factors investors monitor closely.With both companies entering pivotal growth phases, investors will now watch closely to see whether operational execution can translate recent momentum into sustained long-term shareholder value.Note- All data presented is based on information available at the time of writing.Disclaimer for Kapitales ResearchThe materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
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Why These 2 ASX Small-Cap Shares Surged Today on Almond Demand and AI Cloud Growth?
Highlights:
Market Momentum BuildsInvestor sentiment strengthened after both companies released earnings updates that highlighted operational progress, stronger strategic positioning, and ambitious growth plans. While Select Harvests benefited from improving almond market fundamentals and production expansion, Blackpearl captured market attention through rapid recurring revenue growth and the commercial validation of its AI platform.
Almond Processor Earnings ExpansionSelect Harvests delivered a solid HY2026 performance, supported by higher almond volumes, improved processing capability, and favourable global pricing conditions. The company reported underlying NPAT of AU$29.1 million, up 32.9% year-on-year, while reported NPAT stood at AU$26.6 million. The company also forecast a 2026 almond crop of 29,500MT alongside an almond price expectation of AU$10.21/kg.
Management noted that the business is entering a structurally stronger earnings phase, with second-half profitability expected to benefit from rising external grower volumes and value-added sales. Processing capacity has increased to approximately 55,000MT, while investments in crop drying, kernel recovery, and harvesting efficiency are supporting yield improvements and operational resilience.
The Board declared a fully franked interim dividend of 3.5 cents per share and announced an on-market share buy-back of up to 10% of issued capital, signaling confidence in the company’s valuation and long-term outlook. Management also reiterated ambitions to scale operations toward 65,000MT production and AU$700 million in revenue by 2030.AI Data Solutions Fuel MomentumBlackpearl Group posted one of its strongest growth periods to date, with annual recurring revenue (ARR) surging 114% year-on-year to NZ$26.8 million. Subscription revenue climbed 77% to NZ$13.7 million, while the company maintained 0% churn across its Data-as-a-Service (DaaS) business.A key catalyst behind investor interest was the company’s “Pearl Engine” AI platform, which management said produced 25 times more A-grade commercial records per dollar than leading generalist AI models in a third-party benchmark. The platform processes 31 billion data signals daily across more than 330 data sources, strengthening Blackpearl’s positioning in vertical AI applications for sales and marketing.The company also completed the integration of B2B Rocket, identified AU$1.8 million equivalent in annualised cost synergies for FY27, and refinanced debt facilities to strengthen liquidity. Management indicated FY27 would focus equally on ARR growth and cash conversion as the business scales further.Growth Outlook Remains PositiveSelect Harvests appears well positioned to benefit from tightening global almond supply, rising demand for healthy food products, and its expanding processing network. The company’s production upgrades and shareholder return initiatives could continue supporting investor confidence if pricing conditions remain favourable.Meanwhile, Blackpearl is transitioning from a high-growth technology story into a commercially validated AI platform business. Strong ARR expansion, improving unit economics, and deeper enterprise integration may strengthen its long-term scalability. As competition intensifies across AI markets, execution and monetisation efficiency are likely to remain the key factors investors monitor closely.With both companies entering pivotal growth phases, investors will now watch closely to see whether operational execution can translate recent momentum into sustained long-term shareholder value.Note- All data presented is based on information available at the time of writing.Disclaimer for Kapitales ResearchThe materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au