Biorem, Inc. (BIRMF) research, news, and more from GeoInvesting

Company description

Wed, 29 Nov 2023 13:49:35 GMT

BioRem Inc., a clean technology engineering company, designs, manufactures, distributes, and sells air pollution control systems that are used to eliminate odors, volatile organic compounds (VOCs), and hazardous air pollutants (HAPs). It offers biofilters for the removal of odors, H2S, VOCs, and HAPs; and biotrickling filters for applications of high levels of H2S or other water-soluble VOCs. The company also provides multi-stage systems to remove odors from various municipal/urban wastewater treatment processes; biogas desulfurization systems; dry scrubber adsorption systems; and cannabis odor control systems. In addition, it offers biological processes and testing services; media sampling and analysis; system review and inspections; and media replacements and spare parts. The company operates in Canada, the United States, China, and internationally. BioRem Inc. was founded in 1990 and is headquartered in Puslinch, Canada

Research

Mon, 17 Nov 2025 15:44:27 GMT

BIOREM Inc. (TSXV:BRM) (OTC:BIRMF) (C$2.15; C$34.6M market cap) announced Q3 2025 results:

Q3 sales of C$11.3 million vs. C$14.9 million in the prior year, above analyst estimates of C$9.7 million
Q3 2025 EPS: C$0.06 vs. $C0.12 in the prior year
Q3 order bookings of C$17 million
Record order backlog of C$71 million as of Sept 30, 2025 (vs. C$50.9M on June 30, 2025 and C$48.4M on Sept 30, 2024)
Gross margin was 28% vs. 33% in Q3 2024

Management Commentary:

"A multi-pronged effort by the sales team across the various product categories has resulted in strong order bookings and order backlog growth", said Derek S. Webb, President & CEO. "We are extremely pleased with adoption rates of our new products and services. It demonstrates that the adjustments in strategy undertaken in the last couple of years correctly determined the needs of our customers and is providing the reliable performance that the market has come to expect from Biorem."

"With a historic order backlog and continued bookings growth anticipated, Biorem is continuing on its growth trajectory. We are excited at all of the future opportunities as we continue to execute the strategy"

BioRem Inc. designs, manufactures, and sells air pollution control systems that remove odors, volatile organic compounds, and hazardous air pollutants using technologies like biofilters, biotrickling filters, and dry scrubbers.

Research

Mon, 25 Aug 2025 15:38:25 GMT

BIOREM Inc. (TSXV:BRM) (OTC:BIRMF) ($2.08; $33.5M market cap) announced Q2 2025 results:

Q2 sales of $9.4 million vs. $7.3 million in the prior year, ahead of analyst estimates of $8.6 million
Q2 2025 EPS: $0.040 vs. $0.018 in the prior year
Booked $7.4 million in new orders during Q2; year-to-date bookings reached $24.1 million
Order backlog stood at $61 million as of June 30, 2025 (vs. $57 million in prior year)
Company expects backlog to support strong H2 revenues and earnings
Operating expenses included a $400,000 credit loss provision for a specific project
Cash on hand at quarter-end was $7.7 million; working capital totaled $10 million

Management Commentary:

"We were able to successfully overcome the logistical challenges we experienced earlier in the year, allowing us to accelerate shipments to our international customers during the second quarter. This has helped meet our initial forecasts for delivery and minimizes the impact to our customers' schedules. We expect to continue this pace in the second half of the year as we continue to export to China, the Middle East and South East Asia." — Derek S. Webb, President and CEO

"Bidding activity continues to be robust and management is pleased at the size of the outstanding opportunities in the domestic and international market segments. We expect our focus on offering both technologies and integrated service solutions to continue to produce tangible results and drive growth over the next several quarters."

Our Quick Take:

It’s good to see the company bounce back from a temporary period of quarterly financial lumpiness, something that’s going to be inherent in the business, at times. We still think the long-term setup is great for this company with strong industry tailwinds (clean environment solutions). Hopefully overtime, quarterly financial lumpiness will smooth out as the company continues to focus on ancillary recurring revenue type service offerings. If you’re interested in this company, you should definitely watch the interview with the CEO who attended the March 2025 microcap virtual conference hosted at the Microcap Investing Cliff notes Substack.

Research

Wed, 11 Jun 2025 14:44:49 GMT

BIOREM Inc. (TSXV:BRM) (OTC:BIRMF)($1.89; $30.5M market cap) announced a normal course issuer bid (NCIB):

"Biorem believes that: (1) the repurchase of Common Shares would be an effective use of its cash resources and in the best interests of Biorem and its shareholders; (2) that the current market price of its Common shares does not fully reflect their underlying value; and (3) that current market conditions provide opportunities for the Company to acquire Common Shares at attractive prices."

Key highlights:

TSX Venture Exchange approved the NCIB allowing repurchase of up to 806,872 shares ( 5% of outstanding shares as of June 10, 2025).
Purchases begin on or about June 16, 2025, and will be conducted through Cormark Securities Inc.
All repurchased shares will be cancelled.
No current intention from officers or insiders to sell shares to the company under this program.
No shares were repurchased for cancellation in the past 12 months

Research

Wed, 28 May 2025 15:24:06 GMT

BIOREM Inc. (OTC:BIRMF) (TSXV:BRM) ($2.00; $32.2M market cap) announced Q1 2025 results (all figures in Canadian dollars):

Q1 sales of $4.7 million vs. $5.9 million in the prior year
Q1 GAAP EPS of $0.002 vs. $0.02 in the prior year
Order bookings of $16.1 million in Q1 2025
Backlog reached a record $68 million as of March 31, 2025
23 new projects secured, including a $5.8 million contract in the Middle East
Gross profit margin declined to 23% vs. 30% in Q1 2024 due to lower revenues
Operating expenses down $248,000 YoY, driven by reduced sales expenses and professional fees
$91,000 invested in manufacturing equipment to boost production capacity
Cash balance grew to $9.6 million from $5.2 million at year-end 2024
Working capital increased to $9.6 million, up from $7.0 million in Q1 2024

"Sales initiatives executed in 2024 are now converting into orders in our growing backlog. Bidding activity remains robust and expected to continue throughout the year", said Derek S. Webb.

"Management remains focused on a number of organic growth initiatives and delivering the historical backlog that has been built up over the last several quarters."
"One of the key challenges we face is supporting a growing number of international clients that require significant shipping capacity to move our proprietary next generation biological media to their locations. Several current projects require almost 1,000 sea containers in 2025. Securing containers and a berth on vessels on a weekly basis is proving difficult for our customers and we have tasked our logistics team with supporting their efforts in this area."

"We have made significant progress in expanding our service offerings and capabilities. A promising new development is that we have manufactured several on-demand odour control rental units for projects in North America. These systems are leased out when existing infrastructure projects require emissions abatement during the construction phase. We look forward to exploring this new product line, as it builds on our mission to have the most comprehensive product and service offerings in the industry."

Our Quick Take:

The Middle East contract is what caught our attention, as this was a new region the company had been exploring, per our first Fireside Chat discussion with the CEO, Derek Webb, on 12/16/2024.

BioRem Inc. designs and manufactures air pollution control systems that remove odorous and harmful contaminants using biofilters, biotrickling filters, desulfurization units, dry scrubbers, and odor control solutions.

Research

Thu, 17 Apr 2025 19:59:06 GMT

BioRem Inc. (BIRMF) (TSXV:BRM) ($1.86; 29.98M market cap) announced Q4 2024 and full year 2024 results: (results released during the trading day yesterday)

Q4 sales of $9.3 million vs $12.2 million in the prior year
Q4 EPS of $0.01 vs EPS of $0.14 in the prior year
Full year sales of $37.4 million vs $25.2 million in the prior year
Full year EPS of $0.16 vs $0.13 in the prior year

"Overall, we are very pleased with the progress made in 2024," said Derek S. Webb, President and CEO. "Business development with a focus on new products and services has produced tangible results and we continue to be excited at continuing this expansion in 2025 with new geographical territories and technological offerings."

"Investments made in late 2023 for our manufacturing processes enabled a significant increase in production capacity and reduced input costs while improving quality", continued Mr. Webb. "These capital improvements have aided greatly in maintaining and improving on project delivery schedules."

"While geopolitical and tariff pressures are expected to provide challenges in 2025, we believe the corporation is well positioned to weather the dynamic situation. A diverse and flexible supply chain, American based manufacturing and a strong balance sheet ensures we have the tools required to resolve these challenges."

Although the 2024 fourth-quarter was weak, we have to remember two things. First, the company has been very clear that investors who want to invest in this company will have to stomach large volatility around quarterly results. Secondly, the company was going up against one of its best quarters in its history in the fourth quarter of 2023. The more concerning aspect of the fourth quarter is that we need more details on the weak gross margins, “the result of lower revenues in the quarter and the accrual of costs for a project that may require some rework “

Research

Tue, 11 Feb 2025 15:17:47 GMT

Biorem Inc (OTC:BIRMF) (TSXV:BRM) ($1.78; $28.4M market cap) announced it has received several new orders totalling more than $8 million.

"Amid all of the trade uncertainties of recent weeks, the new year has started with robust sales and bidding activity" said Derek S. Webb, President and Chief Executive Officer. "Our backlog continues to grow; driven largely by the new products and services we have introduced over the past few years. Delivery and performance have exceeded customer expectations, and we are beginning to see increased demand as a result."

"A good mix of infrastructure and industrial applications make up the bulk of the new orders," added Webb, "As cities continue to grow, this is driving demand for our technologies. While we expect that there will be some short-term volatility, we see a strong, long-term market for our world class solutions."

When you get a chance, you can view our 4/12/2024 Skull Session Management Morning Briefing with Biorem's (BIRMF) CEO, Derek Webb, where we learned about the latest developments at the company after its fiscal Q4 2023 financial results. Our very first Fireside Chat with Webb occurred in February of last year.

Biorem is an environmental biotechnology company that designs, manufactures and distributes a comprehensive line of air emissions control systems used to eliminate odors, volatile organic compounds, and hazardous air pollutants

Research

Wed, 06 Nov 2024 20:38:34 GMT

Biorem Inc (OTC:BIRMF) (TSXV:BRM) ($1.80; $28.2M market cap) reported Q3 2024 results: (all figures are CAD)

Q3 sales of $14.8 million vs $5.5 million
Q3 EPS of $0.12 vs EPS of $0.03 in the prior year

"In the third quarter, delays related to industry-wide issues with construction projects eased somewhat, allowing BIOREM to catch up on orders in the Company's backlog," said Derek S. Webb, President and CEO. "Even as project deliveries accelerated, BIOREM's sales funnel, outstanding bids and order backlog remain robust with no signs of softening over the near- to medium-term."

"Population growth and the need for significant increases in housing construction throughout North America is driving demand for municipal and industrial infrastructure projects that require air emission abatement systems. BIOREM's experience and performance in delivering both large and small successful air emission abatement projects makes them uniquely positioned to benefit over the long term from this growth cycle".

Research

Mon, 26 Aug 2024 17:12:29 GMT

Biorem Inc (OTC:BIRMF, TSXV:BRM) ($1.64; $25.7M market cap) reported Q2 2024 results: (all figures are CAD)

Q2 sales of $7.3 million vs $4.2 million
Q2 EPS of $0..02 vs a loss of $0.006 in the prior year
During the quarter the Company booked $13 million in new orders resulting in a record order backlog of $57 million on June 30, 2024 compared to an order backlog of $51.5 million on June 30, 2023.

The Company expects this record backlog to support strong revenues and earnings in the second half of the year.

"Our strategic initiatives gathered momentum in 2024" said Derek S. Webb, President and CEO. "This is reflected in the product mix purchased by our clients as well as new orders that have driven our order backlog to a record $57 million."

"There continues to be strong underlying demand for our full range of products and services," continued Mr. Webb. "Physical and chemical technologies are supplementing the core advanced biological solutions that customers have come to trust and rely upon. A large multi-stage project we recently confirmed in the Middle East offers a good example of this. The project will involve a combination of chemical and biological technologies to deal with emissions from a biosolids drying operation. Management is excited at working together with a repeat customer to deliver another successful project."

Research

Wed, 29 May 2024 19:35:54 GMT

Biorem Inc (OTC:BIRMF) ($1.50; $23.5M market cap) reported Q1 2024 results:

Sales of $5.9 million vs $3.2 million in the prior year
EPS of $0.02 vs a loss of $0.04
The Company booked new orders totalling $6.1 million in the quarter resulting in a historic backlog of orders at March 31, 2024 of $52.0 million compared to an order backlog of $39 million at March 31, 2023.

“The first quarter is traditionally a slow start to BIOREM's fiscal year in terms of revenues and earnings due to construction and project life cycles", commented Derek Webb, President and CEO. "BIOREM's strong results for the first quarter of 2024 in both revenues, earnings and new bookings are strong indicators of another year of growth for the Company. Our sales funnel continues to grow for both our biological solutions as well as with the new dry scrubber product line introduced last year. The growing order backlog and sales funnel at these levels will ensure the Company's continued growth in revenues and profitability."

Back in December 2023, the BIRMF was initially discussed as a stock with a compellingly low P/E during GeoInvesting’s Live Forum that month. Since then, iIt has grown into a more suitable valuation, doubling in price leading up to this latest earnings report.

Also, don’t forget that we’ve also had two discussions with the CEO, Derek Webb, first to get acquainted with him and his business, and then a follow-up briefing after the company’s full year 2023 results were announced.

And most recently, we recapped our thoughts on Biorem’s participation in the Vegas Planet Microcap Showcase that occurred several weeks ago. These are all great pieces of video content to show that we’ve been vetting the company for some time now.

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).

Research

Fri, 12 Apr 2024 12:56:19 GMT

Q4 and full year 2023 results: (all figures are CAD)

Q4 sales of $12.2 million vs $10.9 million
Q4 non-GAAP EPS of $0.13 vs $0.10 in the prior year
Full year sales of $25.1 million vs $28.8 million
Full year non-GAAP EPS of $0.12 vs $0.14

"Management looks forward to beginning the next phase of the Corporation's development", said Derek S. Webb, President and CEO. "A strong backlog; healthy bidding activity and a number of exciting new products introduced and under development promise to provide us with the tools necessary to achieve growth in 2024."

"We are particularly excited about expanding both our organic as well as inorganic growth initiatives. The market has been responsive to our new introductions and we expect the same level of interest with the next offering of complementary technologies. A number of new initiatives are underway with results expected to begin to be realized within the coming quarters. All in all, a very exciting period for our company."

Research

Wed, 29 Nov 2023 15:06:39 GMT

Biorem Inc (OTC:BIRMF) ($0.70; $10.9M market cap), whose solutions remove odors and hazardous pollutants related to areas such as water treatment and renewable energy operators, is the next company on our radar.

This morning the company reported Q3 2023 results:

Sales of $5.5 million vs $7.3 million in the prior year
EPS of $0.03 vs $0.05

While the quarter was down, year over year, for the last few years, revenues have been hovering around the mid $20 million area, up from $9.9 million in 2004.

However, the growth in revenue has been lumpy. The company has been mostly profitable since 2013, losing money in only 2014 and 2019 due to supply chain disruptions its customers were facing, which delayed project deployment.

"The decrease in revenues for the first nine months of 2023 compared to the prior year continues to be entirely due to delays in customer project construction schedules that were beyond BIOREM's ability to influence. While construction schedules across the industry continue to be impacted by high infrastructure demand, tight labour supplies, and supply chain delays, BIOREM has successfully managed to minimize the effect of these challenges on our 2023 earnings and cash flow," said Derek S. Webb, President and CEO. "Our sales funnel, opportunities, bookings and backlog remain at historic highs with no signs of softening over the near- to medium-term." Source MS Microcaps AI News APP.

Even though 2023 has been a choppy year in terms of growth, it looks like the company will finish the year strong.

“The Company expects this record backlog to enable the Company to deliver a strong fourth quarter of the year in terms of revenues and earnings.”

I first interviewed Biorem’s CEO, Derek Webb in early 2023. I wanted to find out what management was doing to reduce the volatility/momentum in sales and earning growth. Webb mentioned that the company has been spending capital and time to diversify its customer base and broaden its served markets.

Comment from today’s release no this subject:

"Unique in the Industry, BIOREM's broadening of the revenue base through product expansion and diversification, have resulted in significant achievements over the last several quarters. This investment in new products and sales initiatives has generated more than two dozen projects and approximately $25 million in bookings outside of our traditional sales base. This is a reflection of a strong market demand for BIOREM's experience and performance in delivering successful air emission abatement projects."

Given the company’s record backlog…

“During the quarter the Company booked $8.2 million in new orders resulting in another record order backlog of $54.5 million on September 30, 2023 compared to an order backlog of $51.5 million on June 30, 2023 and $43 million on September 30, 2022.”

… growth challenges that seem temporary, and a run-rate P/E of 7x on Q3 earnings per share, we think now is a good time to start digging into this story, especially at a time where Environmental, Social, and Governance (ESG) financial factors are in focus.

Next on the docket will be to review my interview notes and invite the CEO to join us as a guest on a Skull Session Fireside Chat Live event, while investors are asleep at the wheel in researching this company, and as management copes with temporary business challenges..