Blumetric Announces Q3 2025 Consolidated Financial Results

(MENAFN- Newsfile Corp) Ottawa, 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 Highlights

• Revenue 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 and profitability in the segment."

Business Highlights and Outlook

This quarter continued to see a significant increase in revenues due to the acquisition and organic growth of Gemini along with a ramp up in production for the Military market. Since acquiring Gemini in 2024, BluMetric has more than doubled the entity's revenues, supported by significant investments in a new Gainesville, Florida manufacturing facility, key hires in product and delivery, and a new operations & maintenance division.

BluMetric's Military market saw a 76% increase in revenues due in part to starting production for the Rheinmetall Canada ASUWPS contract and refurbishment of existing systems. Subsequent to the quarter, the Company received a $3.8 million contract for a new product line from Thales Canada to upgrade the Royal Canadian Navy's ships. This order validates BluMetric's ability to innovate and deploy new technologies for militaries.

The Company believes that the Military market is poised for significant growth as evidenced by the spending commitments by the Canadian Federal government. Although the process of securing significant contracts has taken longer than expected, the new commitments and urgency for Canadian defence spending, along with past investments in sales and marketing, are expected to help.

As a result of the WaterTech's growth, the percentage mix of revenues in the fiscal quarter and year-to-date have shifted significantly away from Professional Services. BluMetric's goal is to achieve a balance of revenues from both segments, providing potential diversification and profitability benefits.

Professional Services continued to see project delays due to the prorogation of the Canadian Federal Government, subsequent Federal and Ontario elections, and increased market uncertainties. This dynamic led to historically low utilization rates which improved toward the end of fiscal Q3. Similar to fiscal Q2, this dynamic led to an increase of non-billable labour, impacting profitability in the segment.

Significant reorganizations of the team were completed the previous fiscal quarter, and the Company expects that these changes will strengthen the segment in due time. BluMetric is also assessing potential acquisitions in Professional Services that align with and strengthen its sales, operations, and offerings.

Overall, BluMetric continues to benefit from its robust position of combining both unique water technologies and professional services to capitalize on emerging opportunities while driving sustainable growth.

Financial Table

	Three Months Ended June 30, 2025	Three Months Ended June 30, 2024	Nine Months Ended June 30, 2025	Nine Months Ended June 30, 2024
	($000)	($000)	($000)	($000)
Revenue	14,671	8,116	44,564	23,773
Gross profit	5,213	3,551	14,131	10,197
Gross margin	36%	44%	32%	43%
Operating expenses	5,608	3,436	13,740	9,440
Operating profit (loss)	(395)	115	391	757
Finance costs	83	61	238	165
Earnings (loss) before provision for income tax	(478)	54	153	600
Income tax expense (recovery)	(27)	27	286	216
Net earnings (loss)	(451)	27	(133)	384
Earnings (loss) per share - basic and diluted	(0.01)	0.00	(0.00)	0.01
EBITDA1	308	361	2,217	1,466
Free cash flow2	256	157	760	695
Working capital3			8,520	11,300
Net cash4			3,422	1,722

Note 1: EBITDA represents net income before interest expense, income taxes, depreciation of property and equipment, amortization of intangible assets, and non-cash share compensation. The Company uses this measure as part of assessing operating performance. There is no direct comparable IFRS measure for EBITDA.

Note 2: Free cash flow is a non-IFRS measure and is calculated as operating cash flows less net capital expenditures and net payment of lease obligations.

Note 3: Working capital is a non-IFRS measure and is calculated by subtracting current liabilities from current assets. There is no directly comparable measure under IFRS.

Note 4: Net cash is a non-IFRS measure and is calculated as cash less total funded debt excluding lease liabilities. The Company uses this measure as part of assessing liquidity. There is no directly comparable measure under IFRS.

The full results are available at sedarplus .

BluMetric to Host Investor Conference Call

BluMetric will host a conference call on Thursday, August 28, 2025, at 9:00 AM ET (6:00 AM PT) to discuss the results. To join the conference call without operator assistance, it's important to register and enter your phone number at at least 15 minutes before the call's start time or later to receive an instant automated callback.

You can also dial directly to be entered into the call by an Operator. Please dial 1-888-699-1199 (Toll-Free North America) or 1-416-945-7677 (Local).

About BluMetric Environmental Inc.

BluMetric Environmental Inc. is a publicly traded water technology and environmental engineering firm. BluMetric designs, fabricates, and delivers sustainable solutions to complex water and environmental challenges. The Company is supported by more than 230 employees across 11 offices and 3 manufacturing facilities, with over 50 years of history. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves Commercial and Industrial, Government, Military, and Mining clients.

For more information, visit or please contact:

Scott MacFabe, Chair and CEO	Dan Hilton, CFO
BluMetric Environmental Inc.	BluMetric Environmental Inc.
Tel: 1-877-487-8436 x242	Tel: 1-877-487-8436 x550
Email: ...	Email: ...
Brandon Chow, Principal & Founder
Panolia Investor Relations Inc.
Tel: 1-647-598-8815
Email: ...

Forward-Looking Statements

Some of the statements in this press release, including those relating to the Company's quarterly and annual results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR+ at . The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit

SOURCE: BluMetric Environmental Inc.

MENAFN27082025004218003983ID1109985265