Blackline Safety reports highest quarterly revenue ever

Q3 revenue doubles to $4.7M compared to same quarter, prior year

Calgary, AB — Blackline Safety Corp. (TSX Venture: BLN), a leading manufacturer of gas detection and connected safety solutions, announced its best quarter ever.

“Expanding customer adoption of Blackline’s connected safety products and services drove strong revenue growth through our third quarter,” said Cody Slater, Blackline Safety CEO and Chairman. “Overall revenue more than doubled with service revenue up 58% and a 260% jump in product revenue.” He added, “Our latest numbers demonstrate that G7 is revolutionizing the safety industry, helping businesses stay connected with their teams to keep them safe and manage their operations more efficiently. Strong customer adoption has continued into Q4 with the announcement of a $1.9M lease order that displaced obsolete gas detectors while equipping the customer with the latest in connected safety technology.”

Blackline continues to innovate G7’s capabilities through continued product development while expanding its commercialization programs. Mr. Slater said, “G7 products and services have defined the new benchmark for industry, delivering turn-key connectivity, plug-and-play modular design and a deep suite of capabilities. We are increasing market reach by expanding our sales team in the field, plus introducing a new partner portal to support our growing distribution channels.” He added, “Blackline works tirelessly to expand our leading position at the forefront of connected safety. We will begin shipping our new Multi-gas Pump Cartridge this fall, plus we have plans to announce other new, significant capabilities that focus on productivity and product line expansion in the coming weeks.”

Destaques

• Total revenue of $4.7M, a 103% increase over the prior year’s Q3
• Product revenue of $1.9M, a 260% increase over the prior year’s Q3
• Service revenue, including Blackline Complete lease revenue, of $2.8M, a 58% increase over the prior year’s Q3
• Contracted future service revenue (lease commitments) grew to $5.3M, a 32% increase over the prior year’s Q3
• Leased units increased to 2,697, up 84% over the prior year’s Q3
• Revenue growth in both the United States and Europe increased by 183% over the prior year’s Q3
• Cash and short-term investments of $13.0M at Q3 FY2018
• Launched G7 Insight, a new gas detection program that equips businesses in the energy, utility and telecom sectors with connected gas detection technology
• Announced new multi-gas pump cartridge to support confined space entry and leak check surveys for facilities
• Launched Blackline Analytics that empowers decision-making by leveraging G7 connected gas detector ‘big data’
• Received the Health & Safety Award from the 2018 Global Petroleum Show

Destaques financeiros

Os valores subsequentes nesta versão estão em milhares, exceto as porcentagens e os dados por ação. 

Informações financeiras importantes

Third quarter revenue was $4,676 compared to $2,302 in the comparable quarter of the prior fiscal year, resulting in an increase of 103% or $2,374. Revenue in both the United States and Europe increased 183% with these regions continuing their strong growth during the quarter.

Product revenue during the third quarter was $1,852, an increase of 260% compared to $514 in the comparable quarter of the prior fiscal year. This increase was driven by shipments of Blackline’s G7c and G7x products across all regions.

Service revenue was $2,824, an increase of 58% compared to $1,788 in the same period last year, attributed to new service activations by end customers from the continued solid growth in product sales and increased adoption of the Blackline Complete leasing program.

Contracted future service revenue, representing the current value of future Blackline Complete lease commitments, was $5,279 as at July 31, 2018, an increase of 32% from Q3 FY2017.

Gross margin for the third quarter was $1,875 compared to $1,018 in the comparable quarter of the prior year, an increase of 84% over the comparable period from the prior year. This increase was driven by the growth of Blackline’s service revenue year over year.

Adjusted EBITDA was $(179) for the third quarter compared to $(905) in the comparable quarter of the prior year. The increase in the Adjusted EBITDA for the quarter was attributable to an increase in revenues and gross margin quarter-over-quarter.

Blackline’s unaudited condensed consolidated interim financial statements and management’s discussion and analysis on financial condition and results of operations for the period ended July 31, 2018 are available at www.sedar.com. All results are reported in Canadian dollars. To learn more about Blackline Safety, visit www.blacklinesafety.com and follow Blackline on Twitter @blacklinesafety.

Sobre a Blackline Safety:A Blackline Safety é líder global em tecnologia de segurança conectada. Oferecendo monitoramento ao vivo abrangente e detecção sem fio de gases, ajudamos equipes que trabalham em ambientes perigosos a responder a emergências em tempo real e gerenciar evacuações eficientes, garantindo a segurança de todos ao longo do processo. Com milhões investidos em pesquisa e desenvolvimento de tecnologia, a Blackline Safety é reconhecida pela qualidade e inovação. Nossa talentosa equipe de designers e engenheiros cria e fabrica internamente — desde tecnologia vestível e detectores de gás pessoais até infraestrutura hospedada em nuvem e interfaces baseadas na web para a indústria global. Oferecemos a primeira solução de monitoramento de segurança conectada pronta para uso e que funciona em qualquer lugar, com detecção de gás, 3G sem fio, comunicações via satélite, viva-voz bidirecional, mensagens para funcionários e monitoramento ao vivo para atender aos desafios de segurança exigentes de organizações em mais de 200 países. Para obter mais informações, acessewww.BlacklineSafety.com.

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