Business
BluMetric Announces Q3 2025 Consolidated Financial Results
Ottawa, Ontario--(Newsfile Corp. - August 27, 2025) - BluMetric Environmental Inc. (TSXV: BLM) (...
About this update from Blumetric Environmental Inc.
[{"type":"text","content":"BluMetric Announces Q3 2025 Consolidated Financial ResultsOttawa, 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 HighlightsRevenue 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 to 44% for the same quarter in the previous year and 32% during the first nine months compared to 43% 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 a...