BioRem (BRM) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 reached $9.4 million, up 29% year-over-year and 99% sequentially from Q1 2025.

• Year-to-date revenue totaled $14.1 million, a 7% increase over the first half of 2024.

• Net earnings for Q2 2025 were $745,000, with year-to-date net earnings of $782,000, up from $681,000 in the prior year.

• Order backlog grew to $61 million as of June 30, 2025, compared to $57 million a year earlier.

• Management expects the strong backlog to support robust revenues and earnings in the second half of 2025.

Financial highlights

• Gross profit for Q2 2025 was $2.5 million (27% margin), up from $1.7 million (22.7% margin) in Q2 2024.

• EBITDA for Q2 2025 was $1.2 million, more than double the $555,000 in Q2 2024.

• Operating expenses for Q2 2025 were $1.5 million, up from $1.1 million, mainly due to a $400,000 credit loss provision.

• Cash on hand at June 30, 2025 was $7.7 million; working capital stood at $10 million.

• Operating activities generated $1.2 million in cash, but working capital changes used $2.5 million.

Outlook and guidance

• Management anticipates continued strong revenue and earnings in the second half of 2025, supported by a robust order backlog.

• Ongoing international shipments and robust bidding activity are expected to drive growth.