GUELPH, ON, Nov. 4, 2026 /CNW/ -- BIOREM Inc. (TSXV: BRM) ("BIOREM" or "the Company") today announced results for the three month period ended September 30, 2026. BIOREM's complete 2026 third quarter financial statements and MD&A have been filed on SEDAR (www.sedar.com).
Financial Summary:
Three-months ended | ||||
September 30 | June 30 | |||
( in CDN$'000 except per share data) | 2026 | 2025 | 2026 | |
Revenue | 16,631 | 11,253 | 15,689 | |
Gross profit | 5,644 | 3,166 | 4,912 | |
Operating expenses | 1,965 | 1,552 | 2,181 | |
EBITDA* | 3,805 | 1,707 | 2,830 | |
Net earnings | 2,691 | 1,158 | 1,981 | |
Basic earnings per share | 0.158 | 0.072 | 0.122 | |
Diluted earnings per share | 0.148 | 0.062 | 0.105 | |
*Earnings before interest, taxes and amortization, a non IFRS financial measure |
The Company is reporting record third quarter revenues and earnings.
Revenues for the quarter totaled $16.6 million, a $5.4 million or 48% increase from revenues of $11.3 million recorded during the third quarter of 2025. Year to date revenues also set records totaling $39.1 million compared to $25.4 million for the first nine months of 2025.
Earnings for the quarter were $2.7 million representing $0.158 earnings per share, and year to date earnings were $6.6 million or $0.29 per share.
New order bookings in the quarter totaled $15.1 million bringing bookings for the nine months to $48.6 million and maintaining the Company's order backlog at $74.5 million on September 30, 2026.
Gross profit in the quarter of $5.6 million, represented 34% of revenue, compared to $4.9 million and 31% of revenue in the second quarter of 2026. The increase in gross profit during the quarter was due to project mix and higher revenues in the quarter.
Operating expenses for the quarter were $2.0 million, which was consistent with the same quarter in the previous year but $413,000 higher than the immediately preceding quarter due to increased variable sales expenses on the higher revenues recorded in the quarter.
"Our momentum from earlier in the year continued into the third quarter", said Derek S. Webb, President and CEO. "Project execution continues to be strong, and the organization has responded effectively to the various challenges that linger in the industry and greater economy. We have been able to maintain or improve our margins, and many projects are ahead of schedule."
"Just as critical, our sales team continues to close strategic projects around the globe, with our backlog at near-historical levels. With many potential projects still in the pipeline, management is excited at the future potential for the variety of new products and services being offered to our customer base."
The Company's cash position stood at $7.9 million on September 30, 2026, compared with the $8.4 million held on September 30, 2025. Working capital at the end of the quarter was $19.5 million, up $7.8 million from the $11.7 million held on September 30, 2025 and up $2.6 million from the $16.8 million recorded at June 30, 2026.
About BIOREM Inc.
BIOREM is a leading clean technology company that designs, manufactures and distributes a comprehensive line of high-efficiency air emissions control systems used to eliminate odors, volatile organic compounds (VOCs), and hazardous air pollutants (HAPs). With sales and manufacturing offices across the continent, a dedicated research facility, a worldwide sales representative network and more than 2.000 installed systems worldwide, Biorem offers state-of-the-art technology-based products and peace of mind for municipalities, industrial companies and their surrounding communities. Additional information on Biorem is available on our website at www.biorem.biz.
SOURCE Biorem Inc.
