Blumetric Environmental Inc
OTC:BLMWF
Blumetric Environmental Inc
BluMetric Environmental, Inc. operates as a cleantech company. The company is headquartered in Carp, Ontario. The firm's services and products include engineering, rehabilitation and design; wastewater and water treatment solutions; hydrogeology and hydrology; environmental due diligence assessments; waste management (solid, liquid and hazardous); and management systems and training. The company provides an end-to-end solution from assessment and evaluation to implementation to ongoing service and management. The firm is focused on four key markets, which includes mining; commercial and industrial; Government; and military. The company has approximately 10 offices across Ontario, Quebec, Yukon and Northwest Territories.
BluMetric Environmental, Inc. operates as a cleantech company. The company is headquartered in Carp, Ontario. The firm's services and products include engineering, rehabilitation and design; wastewater and water treatment solutions; hydrogeology and hydrology; environmental due diligence assessments; waste management (solid, liquid and hazardous); and management systems and training. The company provides an end-to-end solution from assessment and evaluation to implementation to ongoing service and management. The firm is focused on four key markets, which includes mining; commercial and industrial; Government; and military. The company has approximately 10 offices across Ontario, Quebec, Yukon and Northwest Territories.
Revenue Growth: Q3 revenue surged to $14.7 million from $8 million last year, driven mainly by the strong performance and post-acquisition growth of WaterTech USA (Gemini).
Margins: Gross margin declined to 36% from 44% year-over-year, mostly due to a shift in sales mix favoring WaterTech over higher-margin professional services.
Profitability: EBITDA fell slightly to $308,000 from $356,000, impacted by lower professional services utilization and increased non-billable labor. The quarter saw a net loss of $451,000 compared to a small profit last year.
Utilization & SG&A: Professional services suffered from project delays, leading to a $900,000 increase in nonbillable labor, but utilization is now at an all-time high, with a rebound expected in Q4.
Outlook & Guidance: Management expects a strong rebound in Q4 profitability, driven by higher utilization and reduced nonbillable labor, but sees 6–7% EBITDA margin as more realistic than the aspirational 10%. 2025 EBITDA is expected to surpass 2024.
Military & Product Innovation: Military market revenues rose 76% with new contracts and the launch of a Navy ship water-quality system, which may have broader commercial applications.
Acquisition Strategy: The company is actively pursuing accretive M&A opportunities at 4–6x EBITDA multiples but remains disciplined on valuation and leverage, with no current debt and strong cash reserves.
