Canada's Biorem Q1 revenue rises, order backlog hits record

Biorem

14/05/2026 13:13

Overview

Canada clean tech firm's Q1 revenue rose 44% yr/yr to C$6.8 mln

Order backlog reached record C$77 mln on strong project bookings

Result Drivers

HIGHER REVENUE - Co said revenue rose 44% yr/yr due to increased project activity and seasonal differences in construction schedules

GROSS PROFIT INCREASE - Gross profit rose due to higher revenue, though gross margin narrowed to 20% from 23%

HIGHER SALES EXPENSES - Operating expenses rose slightly, mainly from increased variable sales expenses on higher revenues

Company press release: ID:nCNW1b2pMa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
C$6.82 mln
Q1 Net Income
C$201,000
Q1 Gross Profit
C$1.39 mln
Q1 Operating Expenses
C$1.08 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the environmental services & equipment peer group is "buy"

Wall Street's median 12-month price target for Biorem Inc is C$3.50, about 0% even its May 13 closing price of C$3.50

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)