BluMetric Announces Fiscal Year 2025 Financial Results

Executive Summary

• BluMetric Environmental reported FY 2025 revenue of $62.6 M, up ~80% YoY, but posted a net loss of $2.3 M for the year and $2.2 M in Q4.
• Adjusted EBITDA increased to $2.4 M (up from $2.0 M) while gross margin fell to 29% (down from 40%).
• Post‑year activities include closing the acquisition of DS Consultants Ltd. and completing a brokered offering that raised $15.0 M.

Key Details

• Revenue: FY 2025 – $62,584 K; Q4 2025 – $18,020 K (vs. $34,838 K and $11,064 K in 2024).
• Gross Margin: FY 2025 – 29% (down from 40%); Q4 2025 – 23% (down from 34%).
• Adjusted EBITDA: FY 2025 – $2.4 M; Q4 2025 – $0.2 M (vs. $2.0 M and $0.5 M in 2024).
• Net Loss: FY 2025 – $2.3 M; Q4 2025 – $2.2 M (vs. net earnings of $0.1 M and loss of $0.3 M in 2024).
• Working Capital: $6.9 M at Sep‑30‑2025 (up from $5.5 M).
• Net Cash/Debt: $2.1 M cash on hand (vs. net debt of $0.2 M in 2024).
• Acquisition: Closed purchase of DS Consultants Ltd., adding ~155 employees and a GTA footprint; integration slated for Q1 2026.
• Financing: Completed brokered offering generating gross proceeds of $15.0 M (terms not disclosed).
• Operational Highlights:
• Revenue growth driven by Gemini Water consolidation, Rheinmetall Mission Ready Water systems, and military contracts.
• Absorbed $1.1 M project costs for St. Kitts Bird Rock SWRO to preserve strategic client relationship; secured first O&M contract for the same client in the Caribbean.
• Commercial & Industrial revenue up 233% YoY; Military revenue up 38%; Mining revenue declined.
• Outlook: Targeting $100 M annual revenue; expects EBITDA of $4‑$6 M over next three years from DS Consultants integration and continued WaterTech expansion.

Notable Quotes

“Fiscal 2025 was a transformative year for BluMetric… We grew our revenues by approximately 80% year‑over‑year, ending with our highest‑ever quarterly revenue.” – Scott MacFabe, CEO

The release also announced an investor conference call on January 28 2026 at 9:00 AM ET.