BluMetric Announces Q3 2025 Consolidated Financial Results
BluMetric Environmental (OTCQX:BLMWF), a WaterTech and environmental consulting firm, reported Q3 2025 financial results with mixed performance. Revenue surged to $14.7 million, up from $8.1 million year-over-year, while nine-month revenue reached $44.6 million.
The quarter saw reduced gross margins of 36% (vs. 44% in Q3 2024) due to Gemini Water integration and sales mix changes. The company reported an EBITDA of $0.3 million and a net loss of $0.5 million. Working capital improved to $8.5 million, with a net cash position of $3.4 million.
Notable developments include doubled revenues from Gemini acquisition, a 76% increase in Military market revenues, and a new $3.8 million contract from Thales Canada. Professional Services faced challenges due to government transitions and macro-economic conditions.
BluMetric Environmental (OTCQX:BLMWF), azienda WaterTech e di consulenza ambientale, ha comunicato i risultati finanziari del terzo trimestre 2025 con performance contrastanti. I ricavi sono saliti a $14,7 milioni rispetto a $8,1 milioni nell'anno precedente, mentre i ricavi nei primi nove mesi hanno raggiunto $44,6 milioni.
Il trimestre ha registrato una riduzione del margine lordo al 36% (vs. 44% nel Q3 2024) a causa dell'integrazione di Gemini Water e di un diverso mix di vendite. L'EBITDA è stato di $0,3 milioni e la perdita netta di $0,5 milioni. Il capitale circolante è migliorato a $8,5 milioni, con una posizione di cassa netta di $3,4 milioni.
Tra gli sviluppi rilevanti, i ricavi derivanti dall'acquisizione di Gemini sono raddoppiati, si è registrato un aumento del 76% dei ricavi nel mercato militare e è stato ottenuto un nuovo contratto da $3,8 milioni con Thales Canada. I Servizi Professionali hanno invece incontrato difficoltà a causa di transizioni governative e condizioni macroeconomiche.
BluMetric Environmental (OTCQX:BLMWF), empresa WaterTech y de consultoría ambiental, informó resultados financieros del tercer trimestre de 2025 con rendimiento mixto. Los ingresos se dispararon a $14,7 millones, frente a $8,1 millones interanuales, y los ingresos en nueve meses alcanzaron $44,6 millones.
El trimestre mostró una reducción del margen bruto al 36% (vs. 44% en el Q3 de 2024) debido a la integración de Gemini Water y cambios en la mezcla de ventas. La compañía reportó un EBITDA de $0,3 millones y una pérdida neta de $0,5 millones. El capital de trabajo mejoró a $8,5 millones, con una posición de caja neta de $3,4 millones.
Entre los hitos, los ingresos procedentes de la adquisición de Gemini se duplicaron, hubo un incremento del 76% en los ingresos del mercado militar y se consiguió un nuevo contrato de $3,8 millones con Thales Canada. Los Servicios Profesionales enfrentaron dificultades por transiciones gubernamentales y condiciones macroeconómicas.
BluMetric Environmental (OTCQX:BLMWF), 워터테크 및 환경 컨설팅 회사는 2025년 3분기 실적을 혼조세로 발표했습니다. 매출은 전년 동기 $8.1M에서 $14.7M으로 급증했으며, 9개월 누적 매출은 $44.6M에 달했습니다.
이번 분기 총마진은 Gemini Water 통합 및 매출 구성 변화로 36%(2024년 Q3 대비 44%에서 하락)를 기록했습니다. EBITDA는 $0.3M, 순손실은 $0.5M였습니다. 운전자본은 $8.5M로 개선되었고 순현금은 $3.4M였습니다.
주요 사항으로는 Gemini 인수로 매출이 두 배가 되었고, 군수 시장 매출이 76% 증가했으며, Thales Canada와의 $3.8M 계약을 체결한 점이 있습니다. 다만, 전문 서비스 부문은 정부 전환과 거시경제 여건으로 어려움을 겪었습니다.
BluMetric Environmental (OTCQX:BLMWF), société WaterTech et de conseil environnemental, a publié des résultats financiers du troisième trimestre 2025 contrastés. Le chiffre d'affaires a bondi à 14,7 M$, contre 8,1 M$ un an auparavant, et le chiffre d'affaires sur neuf mois a atteint 44,6 M$.
Le trimestre a affiché une marge brute réduite à 36% (vs. 44% au T3 2024) en raison de l'intégration de Gemini Water et d'un changement du mix des ventes. La société a déclaré un EBITDA de 0,3 M$ et une perte nette de 0,5 M$. Le fonds de roulement s'est amélioré à 8,5 M$, avec une position de trésorerie nette de 3,4 M$.
Parmi les faits marquants, les revenus issus de l'acquisition de Gemini ont doublé, les revenus sur le marché militaire ont augmenté de 76%, et un nouveau contrat de 3,8 M$ avec Thales Canada a été signé. Les services professionnels ont rencontré des difficultés en raison de transitions gouvernementales et de conditions macroéconomiques.
BluMetric Environmental (OTCQX:BLMWF), ein WaterTech- und Umweltberatungsunternehmen, meldete gemischte Finanzergebnisse für das dritte Quartal 2025. Der Umsatz stieg auf $14,7 Millionen gegenüber $8,1 Millionen im Vorjahreszeitraum, und der Neunmonatsumsatz belief sich auf $44,6 Millionen.
Im Quartal sank die Bruttomarge auf 36% (vs. 44% im Q3 2024) infolge der Integration von Gemini Water und Veränderungen im Vertriebs-Mix. Das EBITDA belief sich auf $0,3 Millionen, der Nettoverlust auf $0,5 Millionen. Das Working Capital verbesserte sich auf $8,5 Millionen, die Nettokassenposition betrug $3,4 Millionen.
Wesentliche Entwicklungen umfassen eine Verdopplung der Umsätze durch die Gemini-Akquisition, einen 76%igen Anstieg der Umsätze im Militärsegment sowie einen neuen $3,8 Millionen Vertrag mit Thales Canada. Die Professional Services hatten aufgrund von Regierungswechseln und makroökonomischen Bedingungen Schwierigkeiten.
- Revenue increased significantly to $14.7M (81% YoY growth)
- Military market revenue grew 76% with Rheinmetall Canada contract
- Secured new $3.8M contract from Thales Canada
- Improved working capital to $8.5M from $5.5M
- Strong net cash position of $3.4M versus previous net debt
- Successfully doubled Gemini Water revenues since acquisition
- Net loss of $0.5M compared to breakeven in Q3 2024
- Gross margin declined to 36% from 44% year-over-year
- EBITDA decreased to $0.3M from $0.4M year-over-year
- Professional Services experiencing low utilization rates
- Project delays due to government transitions affecting profitability
Ottawa, Ontario--(Newsfile Corp. - August 27, 2025) - BluMetric Environmental Inc. (TSXV: BLM) (OTCQX: BLMWF) ("BluMetric" or "the Company"), an engineering WaterTech and full-service environmental consulting firm, announced its consolidated financial results for the third fiscal quarter ended June 30, 2025.
Financial Highlights
- Revenue for the quarter ended June 30, 2025, was
$14.7 million compared to$8.1 million for the same period of the prior year and$44.6 million during the first nine months compared to$23.8 million for the same period of the prior year. - Gross margin for the quarter ended June 30, 2025, was
36% compared to44% for the same quarter in the previous year and32% during the first nine months compared to43% for the same period of the prior year. The decrease in gross margin is mainly due to the addition and organic growth of Gemini Water ("Gemini"), resulting in a change of sales mix between Professional Services and WaterTech. - EBITDA (see definition below) for the quarter ended June 30, 2025, was
$0.3 million , compared to$0.4 million in the same quarter of the previous year and$2.2 million during the first nine months compared to$1.5 million for the same period of the prior year. EBITDA was weaker than expected due to Professional Service contract delays attributable to macro-economic conditions and government transitions in both Ontario and Canada, resulting in lower utilization. - Net loss for the quarter ended June 30, 2025, was
$0.5 million compared to net earnings of$0.0 million in the same quarter of the previous year. - Working capital (see definition below) as at June 30, 2025, was
$8.5 million , compared to$5.5 million as at September 30, 2024. - Net cash (see definition below) as at June 30, 2025 was
$3.4 million , compared to net debt of$0.2 million at September 30, 2024.
"Our WaterTech business continues to take advantage of our recent growth investments and strong market tailwinds in the Caribbean," said Scott MacFabe, Chair and CEO of BluMetric Environmental Inc. "The Military market is also now ramping up with our Rheinmetall production, and we are encouraged by the Canadian government's increased defence spending. We are entering our seasonally strongest two fiscal quarters for Professional Services and aim to improve our utilization and profitability in the segment."
Business Highlights and Outlook
This quarter continued to see a significant increase in revenues due to the acquisition and organic growth of Gemini along with a ramp up in production for the Military market. Since acquiring Gemini in 2024, BluMetric has more than doubled the entity's revenues, supported by significant investments in a new Gainesville, Florida manufacturing facility, key hires in product and delivery, and a new operations & maintenance division.
BluMetric's Military market saw a
The Company believes that the Military market is poised for significant growth as evidenced by the spending commitments by the Canadian Federal government. Although the process of securing significant contracts has taken longer than expected, the new commitments and urgency for Canadian defence spending, along with past investments in sales and marketing, are expected to help.
As a result of the WaterTech's growth, the percentage mix of revenues in the fiscal quarter and year-to-date have shifted significantly away from Professional Services. BluMetric's goal is to achieve a balance of revenues from both segments, providing potential diversification and profitability benefits.
Professional Services continued to see project delays due to the prorogation of the Canadian Federal Government, subsequent Federal and Ontario elections, and increased market uncertainties. This dynamic led to historically low utilization rates which improved toward the end of fiscal Q3. Similar to fiscal Q2, this dynamic led to an increase of non-billable labour, impacting profitability in the segment.
Significant reorganizations of the team were completed the previous fiscal quarter, and the Company expects that these changes will strengthen the segment in due time. BluMetric is also assessing potential acquisitions in Professional Services that align with and strengthen its sales, operations, and offerings.
Overall, BluMetric continues to benefit from its robust position of combining both unique water technologies and professional services to capitalize on emerging opportunities while driving sustainable growth.
Financial Table
| Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Nine Months Ended June 30, 2025 | Nine Months Ended June 30, 2024 | |
| ( | ( | ( | ( | |
| Revenue | 14,671 | 8,116 | 44,564 | 23,773 |
| Gross profit | 5,213 | 3,551 | 14,131 | 10,197 |
| Gross margin | ||||
| Operating expenses | 5,608 | 3,436 | 13,740 | 9,440 |
| Operating profit (loss) | (395) | 115 | 391 | 757 |
| Finance costs | 83 | 61 | 238 | 165 |
| Earnings (loss) before provision for income tax | (478) | 54 | 153 | 600 |
| Income tax expense (recovery) | (27) | 27 | 286 | 216 |
| Net earnings (loss) | (451) | 27 | (133) | 384 |
| Earnings (loss) per share - basic and diluted | (0.01) | 0.00 | (0.00) | 0.01 |
| EBITDA1 | 308 | 361 | 2,217 | 1,466 |
| Free cash flow2 | 256 | 157 | 760 | 695 |
| Working capital3 | 8,520 | 11,300 | ||
| Net cash4 | 3,422 | 1,722 |
Note 1: EBITDA represents net income before interest expense, income taxes, depreciation of property and equipment, amortization of intangible assets, and non-cash share compensation. The Company uses this measure as part of assessing operating performance. There is no direct comparable IFRS measure for EBITDA.
Note 2: Free cash flow is a non-IFRS measure and is calculated as operating cash flows less net capital expenditures and net payment of lease obligations.
Note 3: Working capital is a non-IFRS measure and is calculated by subtracting current liabilities from current assets. There is no directly comparable measure under IFRS.
Note 4: Net cash is a non-IFRS measure and is calculated as cash less total funded debt excluding lease liabilities. The Company uses this measure as part of assessing liquidity. There is no directly comparable measure under IFRS.
The full results are available at sedarplus.ca.
BluMetric to Host Investor Conference Call
BluMetric will host a conference call on Thursday, August 28, 2025, at 9:00 AM ET (6:00 AM PT) to discuss the results. To join the conference call without operator assistance, it's important to register and enter your phone number at https://emportal.ink/3CjKOJV at least 15 minutes before the call's start time or later to receive an instant automated callback.
You can also dial directly to be entered into the call by an Operator. Please dial 1-888-699-1199 (Toll-Free North America) or 1-416-945-7677 (Local).
About BluMetric Environmental Inc.
BluMetric Environmental Inc. is a publicly traded water technology and environmental engineering firm. BluMetric designs, fabricates, and delivers sustainable solutions to complex water and environmental challenges. The Company is supported by more than 230 employees across 11 offices and 3 manufacturing facilities, with over 50 years of history. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves Commercial and Industrial, Government, Military, and Mining clients.
For more information, visit www.blumetric.ca or please contact:
| Scott MacFabe, Chair and CEO | Dan Hilton, CFO |
| BluMetric Environmental Inc. | BluMetric Environmental Inc. |
| Tel: 1-877-487-8436 x242 | Tel: 1-877-487-8436 x550 |
| Email: smacfabe@blumetric.ca | Email: dhilton@blumetric.ca |
| Brandon Chow, Principal & Founder | |
| Panolia Investor Relations Inc. | |
| Tel: 1-647-598-8815 | |
| Email: brandon@panoliair.com | |
Forward-Looking Statements
Some of the statements in this press release, including those relating to the Company's quarterly and annual results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR+ at www.sedarplus.ca. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264148
FAQ
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