Blumetric Environmental (BLM) Q3 2026 earnings summary

Executive summary

• Achieved 43% year-over-year revenue growth in Q3 2026 to CA$20.9 million, driven by WaterTech USA, acquisitions, and higher Professional Services utilization.

• FY2025 revenues reached $62.6 million, with 80% year-over-year growth and a history of profitability and expansion.

• Completed strategic acquisitions (DS Consultants, Whitteker Environmental, Gemini Water), expanding capabilities and geographic reach.

• Strong balance sheet with no long-term, interest-bearing debt and a net cash position.

• Investments in ERP, cybersecurity, and expanded U.S. manufacturing footprint are expected to drive future efficiencies and recurring revenue.

Financial highlights

• Q3 2026 revenue: CA$20.9 million (up from CA$14.7 million year-over-year); FY2025 revenue: $62.6 million.

• Adjusted EBITDA: CA$1.1 million in Q3 2026 (up from CA$0.3 million); FY2025 adjusted EBITDA: $2.4 million.

• Net loss: CA$0.76 million in Q3 2026 (vs. CA$0.45 million prior year), mainly due to non-cash amortization and share compensation.

• Gross margin improved to 37% in Q3 2026 (from 36% prior year); DS Consultants delivered 40% gross margin in FY2025.

• Net cash balance: CA$1.2 million as of June 30, 2026; working capital: CA$9.5 million.

Outlook and guidance

• Q4 2026 expected to be the strongest quarter for both revenue and EBITDA, with all professional services teams fully deployed.

• DS Consultants expected to contribute significantly in Q4 and is on track to meet its CA$4 million EBITDA earn-out target, pending favorable weather.

• 2026 goals include unlocking operating leverage, integrating DS Consultants, expanding military and mining market presence, and executing the next M&A target.

• Focus remains on integration savings, indirect labor efficiency, expanding O&M and recurring revenue streams, and pursuing larger Military contracts.