Biorem earns $1.15-million in Q3 2025

Executive Summary

• Biorem Inc. reported third-quarter 2025 financial results, recording $11.3 million in revenue and a net earnings of $1.6 million ($0.07 per share).
• The company achieved a record order backlog of $71 million, driven by $17 million in new orders booked during the quarter.
• Gross profit decreased to $3.2 million (28% of revenue) from $5.0 million (33% of revenue) in the same period last year, while cash on hand increased to $8.4 million.

Key Details

• Revenue: $11.3 million for Q3 2025, an increase of 19% from the previous quarter but 24% below the $14.9 million recorded in Q3 2024. Year-to-date revenues totalled $25.4 million (vs. $28.1 million in 2024).
• Order Backlog: Record backlog of $71 million as of Sept. 30, 2025, up from $50.9 million on June 30, 2025, and $48.4 million on Sept. 30, 2024.
• New Orders: $17 million in new orders booked during the quarter.
• Gross Profit: $3.2 million (28% of revenue) in Q3 2025, compared to $5.0 million (33% of revenue) in Q3 2024.
• Operating Expenses: $1.6 million for Q3 2025, down from $2.0 million in Q3 2024, primarily due to lower sales and marketing and general and administrative expenses.
• EBITDA: $1.7 million for Q3 2025, compared to $3.1 million in Q3 2024.
• Net Earnings: $1.6 million for Q3 2025 ($0.07 per share). Year-to-date net earnings were $1.9 million (vs. $2.9 million and $0.18 per share in 2024).
• Cash Position: Cash on hand increased to $8.4 million as of Sept. 30, 2025.
• Cash Flow: Earnings from operating activities generated $1.7 million in cash; net increases in non-cash working capital items used $807,000.
• Working Capital: Increased to $11.7 million as of Sept. 30, 2025.

Notable Quotes

• "A multipronged effort by the sales team across the various product categories has resulted in strong order bookings and order backlog growth... We are extremely pleased with adoption rates of our new products and services. It demonstrates that the adjustments in strategy undertaken in the last couple of years correctly determined the needs of our customers and is providing the reliable performance that the market has come to expect from Biorem." — Derek S. Webb, President and CEO
• "With a historic order backlog and continued bookings growth anticipated, Biorem is continuing on it's growth trajectory. We are excited at all of the future opportunities as we continue to execute the strategy." — Derek S. Webb, President and CEO