BluMetric Environmental ($BLM.V) FINS Review

Q1 2025

I haven’t formally reviewed BLM in almost a year now, but that doesn’t mean I haven’t been watching. I was extremely high on them a couple of years ago, but downgraded them in my latest review due to decreasing profitability.

Despite those concerns, the stock has performed extremely well, rising by approximately 140% over the past year. But after producing twelve straight positive net income quarters up until Q3 of 2023, their profitability can be described as lumpy at best, producing just $64k of positive net income on $35M of revenue. For those reasons I have been issuing some caution on their Q1.

A preliminary look at their Q1 announced after hours last night look more encouraging, blowing last years top line out of the water. But what about the rest, and are these results deserving of that share price appreciation?