BluMetric Announces Q1 2026 Financial Results
Executive Summary
- BluMetric Environmental reported Q4 2025 revenue of $20.3 M, a 45% YoY increase driven largely by the acquisition of DS Consultants Ltd. and higher Military and Mining market activity.
- The company completed a brokered offering that raised $15.0 M in gross proceeds during the quarter.
- Net loss narrowed to $67 K (vs. net income of $378 K a year earlier) with adjusted EBITDA of $0.9 M, and working capital improved to $10.7 M.
Key Details
- Revenue: $20,291 K in Q4 2025 vs. $13,967 K in Q4 2024 (+45%).
- Gross Margin: 28% (down from 33% YoY).
- Adjusted EBITDA: $912 K (down from $1,310 K YoY).
- Net Loss: $67 K (vs. net income of $378 K YoY).
- Working Capital: $10,742 K (up from $9,253 K YoY).
- Net Cash: $1,789 K (down from $3,706 K YoY).
Acquisition
* Completed acquisition of Ontario‑based DS Consultants Ltd. on 10 Dec 2025.
Recognized $1.5 M of revenue from DS Consultants at closing.
Anticipated full contribution to revenue and EBITDA beginning Q2 2026, with target incremental EBITDA of $4.0 M, $5.0 M and $6.0 M over the next three years.
Financing * Brokered offering generated $15.0 M gross proceeds (details on unit price, warrants, or use of proceeds not disclosed in release).
Business Highlights
* Military market revenue up 225% due to Rheinmetall contract; full delivery expected Q3 2026.
Mining market revenue up 72% driven by higher industry activity and favorable commodity prices.
WaterTech USA (Gemini Water) revenue declined as the business transitions to smaller, higher‑volume projects after completing St. Kitts Bird Rock facility.
Outlook
* Management expects continued revenue growth from Military and Mining segments and full integration of DS Consultants to drive profitability.
* Emphasis on leveraging water scarcity trends, defense spending, and a new mining cycle for organic expansion.
Investor Call * Conference call scheduled for Thursday, 26 Feb 2026 at 9:00 AM ET; registration link provided in release.
Governance Update * Board approved an amended & restated stock option plan (“2026 Plan”) increasing the maximum issuable options to 7.5 M shares (≈13.75% of outstanding), pending shareholder and TSX‑V approval at the March 31, 2026 meeting.
Notable Quotes
“We started this fiscal year with a record revenue quarter before taking into full consideration our largest acquisition to date,” – Scott MacFabe, Chair & CEO.
“BluMetric has hit another milestone as we take advantage of key investments to capitalize on secular tailwinds within our Military, Mining, and Caribbean markets.” – Scott MacFabe.