Blackline Safety (BLN) AI Stock Analysis

• Market Cap: C$598.00M
• Dividend Yield: N/A
• Average Volume (3M): 101.73K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.71
• Revenue Growth: 20.78%
• EPS Growth: 58.71%
• Country: CA
• Employees: 540
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.04
• Shares Outstanding: 86,911,260
• 10 Day Avg. Volume: 136,154
• 30 Day Avg. Volume: 101,732
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$9.50
• Price Target Upside: 34.56% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 70 Outperform
• Price Target: C$8.00 ▲(13.31% Upside)

Blackline Safety's strong revenue growth and improved margins are significant positives, supported by bullish technical indicators. However, negative profitability and valuation challenges weigh on the score. The earnings call provided a positive outlook with strategic growth initiatives, enhancing the overall score.

Positive Factors

Recurring Revenue Growth

The strong growth in recurring revenue indicates a robust SaaS model, providing predictable cash flows and enhancing long-term financial stability.

Gross Margin Improvement

Improved gross margins reflect operational efficiencies and better cost management, supporting sustainable profitability over time.

Strategic Partnership

The ADNOC agreement expands Blackline's market presence in the Middle East, providing growth opportunities and reinforcing its competitive position.

Negative Factors

Negative Cash Flow

Negative operating cash flow indicates potential liquidity issues, which could hinder the company's ability to invest in growth and manage debt.

Product Revenue Decline

A decline in product revenue suggests challenges in maintaining sales momentum, potentially impacting overall revenue growth and market share.

Net Loss

Ongoing net losses highlight profitability challenges, which could affect investor confidence and limit financial flexibility for future initiatives.

Blackline Safety Business Overview & Revenue Model

Company Description

Blackline Safety Corp., develops, manufactures, and markets worker safety monitoring products and services in Canada, the United States, Europe, Australia, New Zealand, and internationally. It offers connected safety devices, including G7c, a safety wearable for indoor and outdoor locations covered by 3G wireless; G7x, a safety wearable for remote locations; G7 EXO, a cloud-connected area monitor; G7 Dock, an accessory product used to calibrate G7c and G7x devices; G7 Bridge, a portable satellite base station; G7 lone worker monitoring solutions; and field-replaceable cartridges in G7c, G7x, and G7 EXO connected devices. The company also provides Blackline Live, a cloud-hosted live safety monitoring portal for safety alert management; Blackline Live's real-time compliance and reporting dashboard; Blackline Analytics, a data analytics package; Blackline Vision, a data science consulting and software services; Blackline monitoring; and Blackline Location Beacon, an indoor/outdoor location technology. In addition, it offers Loner Mobile, a safety monitoring application for smartphones; Loner Duo, a Bluetooth accessory paired with loner mobile for medium to high-risk work-alone scenarios; gas sensors, which include single- and multi-gas diffusion cartridges and multi-gas pump cartridges; and industrial contact tracing for COVID-19. Further, the company provides portable tracking solutions for package tracking, loss prevention, surveillance, asset security, and vehicle tracking applications. It serves municipalities and utilities, oil and gas, renewable energy, hazmat and fire response, petrochemical, rail transportation, steel manufacturing, biotech and pharma manufacturing, agriculture, construction, mining, pulp and paper, and wood products manufacturing industries. The company was formerly known as Blackline GPS Corp. and changed its name to Blackline Safety Corp. in July 2015. Blackline Safety Corp. was founded in 2004 and is headquartered in Calgary, Canada.

How the Company Makes Money

Blackline Safety generates revenue primarily through the sale of its safety devices and associated cloud-based software services. The company offers a subscription model for its software services, which provides recurring revenue streams. Key revenue streams include the sale of hardware devices like gas detectors and lone worker monitors, as well as subscription fees for software that provides real-time data, analytics, and emergency response management. Blackline Safety's earnings are bolstered by partnerships with industrial companies seeking to improve workplace safety and comply with regulatory standards. Additionally, the company may engage in strategic alliances and collaborations to expand its market reach and product offerings.

Blackline Safety Financial Statement Overview

Summary

Blackline Safety shows strong revenue growth and improving gross profit margins, but faces challenges with net losses and negative cash flows. The balance sheet is solid, with low leverage and increased equity.

Income Statement

Blackline Safety has shown consistent revenue growth, with TTM revenue at $142.996M, a 12.3% increase from the previous annual period. Gross profit margin for TTM is 60.68%, indicating strong cost management. However, net profit margin is negative at -5.16%, reflecting ongoing challenges in achieving profitability. The EBIT margin is also negative at -2.90%, though improved from prior periods, suggesting potential for future operational efficiency gains.

Balance Sheet

The company maintains a solid equity position with a debt-to-equity ratio of 0.16, indicating low leverage. Stockholders' equity increased to $80.485M, enhancing stability. The equity ratio stands at 49.11%, demonstrating a balanced capital structure. The return on equity is negative due to net losses, but improving equity suggests long-term potential for shareholder return.

Cash Flow

Operating cash flow has turned negative at -$1.445M in TTM, down from positive cash flow in previous periods, raising concerns about cash generation. Free cash flow remains negative at -$10.071M, but the free cash flow to net income ratio is slightly improving. The company relies on financing activities for liquidity, which could pose a risk if external funding sources become constrained.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	127.29M	100.01M	72.93M	54.31M	38.38M
Gross Profit	74.25M	52.78M	32.24M	26.39M	20.19M
EBITDA	-1.40M	-15.92M	-46.49M	-27.96M	-3.68M
Net Income	-12.60M	-25.55M	-53.65M	-33.30M	-8.09M
Balance Sheet
Total Assets	146.88M	109.12M	108.05M	109.30M	88.61M
Cash, Cash Equivalents and Short-Term Investments	43.11M	15.99M	30.94M	54.52M	51.52M
Total Debt	13.59M	11.10M	11.25M	2.37M	1.56M
Total Liabilities	89.27M	75.92M	55.69M	35.96M	22.28M
Stockholders Equity	57.61M	33.20M	52.36M	73.34M	66.33M
Cash Flow
Free Cash Flow	-6.46M	-29.42M	-59.22M	-34.43M	-12.67M
Operating Cash Flow	1.91M	-22.07M	-50.56M	-28.97M	-9.16M
Investing Cash Flow	-30.46M	-3.46M	249.00K	-3.05M	-9.15M
Financing Cash Flow	32.59M	9.23M	32.23M	38.72M	34.29M

Blackline Safety Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 7.06
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BLN, the sentiment is Neutral. The current price of 7.06 is below the 20-day moving average (MA) of 7.16, above the 50-day MA of 6.72, and above the 200-day MA of 6.85, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 50.92 is Neutral, neither overbought nor oversold. The STOCH value of 21.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:BLN.

Blackline Safety Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ENGH	71 Outperform	C$1.14B	15.25	12.47%	6.34%	0.03%	-10.21%
KXS	70 Outperform	C$4.94B	142.61	5.61%	―	15.81%	22.17%
BLN	70 Outperform	C$598.00M	―	-11.83%	―	20.78%	58.71%
DCBO	68 Neutral	C$1.11B	39.25	61.75%	―	18.51%	32.49%
TCS	65 Neutral	C$515.01M	116.26	6.29%	0.98%	4.03%	199.20%
CMG	58 Neutral	C$512.21M	23.51	25.78%	2.58%	8.53%	-8.25%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Blackline Safety Corporate Events

Blackline Safety Achieves Record Fiscal Q3 2025 with Strong Revenue Growth

Blackline Safety reported a record fiscal third quarter for 2025, with revenue reaching $37.6 million, marking the 34th consecutive quarter of year-over-year growth. The company’s Annual Recurring Revenue increased by 29% to $80.2 million, and the Net Dollar Retention rate was 128%, highlighting strong customer loyalty and expansion. The EXO 8 area monitor, capable of detecting multiple gases and gamma radiation, has gained significant traction across various industries, further strengthening Blackline’s market position. The company also achieved a positive Adjusted EBITDA for the fifth consecutive quarter, reflecting improved profitability and operational efficiency.

The most recent analyst rating on (TSE:BLN) stock is a Buy with a C$10.00 price target. To see the full list of analyst forecasts on Blackline Safety stock, see the TSE:BLN Stock Forecast page.

Blackline Safety Launches Major Software Enhancements at NSC 2025

Blackline Safety unveiled significant software upgrades at the 2025 National Safety Congress & Expo, introducing enhancements to its Blackline Live platform. These updates include improved bulk management tools, a refreshed mobile app for lower-risk workers, and new geofencing capabilities. The enhancements aim to streamline compliance, automate operations, and enhance worker protection, reflecting Blackline’s commitment to safety innovation and its growing influence in the connected safety technology industry.

The most recent analyst rating on (TSE:BLN) stock is a Buy with a C$10.00 price target. To see the full list of analyst forecasts on Blackline Safety stock, see the TSE:BLN Stock Forecast page.

Blackline Safety Strengthens AI Strategy with New Board Appointment

Blackline Safety has appointed Vasi Philomin, a seasoned executive from Siemens and Amazon, to its Board of Directors to advance its AI strategy. Philomin’s expertise in industrial AI and IoT platforms is expected to bolster Blackline’s mission of transforming safety through data-driven intelligence, enhancing worker protection and productivity.

The most recent analyst rating on (TSE:BLN) stock is a Buy with a C$10.00 price target. To see the full list of analyst forecasts on Blackline Safety stock, see the TSE:BLN Stock Forecast page.

Blackline Safety to Announce Q3 2025 Financial Results

Blackline Safety Corp. announced it will release its fiscal third quarter 2025 financial results on September 11, 2025, followed by a conference call and webcast. This announcement highlights the company’s ongoing commitment to transparency and engagement with stakeholders, potentially impacting its market positioning and investor relations.

The most recent analyst rating on (TSE:BLN) stock is a Buy with a C$10.00 price target. To see the full list of analyst forecasts on Blackline Safety stock, see the TSE:BLN Stock Forecast page.

Blackline Safety Secures Major Rollout with ADNOC in Multi-Year Agreement

Blackline Safety has initiated a significant rollout with the Abu Dhabi National Oil Company (ADNOC) under a multi-year agreement, marking a major milestone in its Middle East growth strategy. The initial order includes 1,000 G6 wearable single-gas detectors and 1,200 location beacons, reinforcing ADNOC’s commitment to worker safety and operational excellence. This agreement highlights the growing demand for Blackline’s connected safety ecosystem, which combines wearable technology, cloud software, and live monitoring to protect workers in challenging environments.

The most recent analyst rating on (TSE:BLN) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Blackline Safety stock, see the TSE:BLN Stock Forecast page.

Blackline Safety Expands Quality Assurance Program to Enhance Product Reliability

Blackline Safety has announced a significant expansion of its quality assurance program, increasing its QA team and upgrading inspection equipment for enhanced product testing and reliability. This expansion, conducted entirely in-house, aims to ensure the durability and safety of their devices through rigorous testing in simulated environments. By investing in advanced inspection tools and expanding their QA team by over 250%, Blackline strengthens its commitment to safety and reliability, potentially enhancing its market position and stakeholder trust.

The most recent analyst rating on (TSE:BLN) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Blackline Safety stock, see the TSE:BLN Stock Forecast page.