Blackline Safety (BLN) AI Stock Analysis

• Market Cap: C$571.33M
• Dividend Yield: N/A
• Average Volume (3M): 76.50K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.78
• 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: 86,976,166
• 10 Day Avg. Volume: 29,613
• 30 Day Avg. Volume: 76,497
• PEG Ratio: 0.73
• Price to Book (P/B): 8.22
• Price to Sales (P/S): 3.72
• P/FCF Ratio: -73.28
• 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$9.00
• Price Target Upside: 33.53% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: C$7.50 ▲(11.28% Upside)

Blackline Safety's strong revenue growth and improved margins are significant positives, supported by a robust balance sheet and strategic international expansion. However, ongoing net losses, negative cash flows, and valuation concerns due to a negative P/E ratio weigh on the overall score. Technical indicators suggest potential short-term weakness, but the company's strategic initiatives and recurring revenue growth provide a solid foundation for future performance.

Positive Factors

Revenue Growth

Consistent revenue growth over 34 consecutive quarters demonstrates strong market demand and effective sales strategies, supporting long-term business expansion.

Recurring Revenue Base

A strong SaaS revenue base with high recurring revenue provides stability and predictability, enhancing financial resilience and long-term growth potential.

Gross Margin Improvement

Improved gross margins indicate efficient cost management and scalability, which can lead to enhanced profitability as the company grows.

Negative Factors

Product Revenue Decline

A decline in product revenue suggests potential challenges in product sales, which could impact overall revenue growth if not addressed.

Net Loss

Ongoing net losses highlight challenges in achieving profitability, which may strain financial resources and limit investment in growth initiatives.

Negative Cash Flow

Negative cash flow raises concerns about the company's ability to generate sufficient internal funds, potentially impacting its financial flexibility and growth capacity.

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 subscription services associated with its monitoring platform. Key revenue streams include direct sales of hardware, recurring subscription fees for software services, and data analytics offerings. The company also benefits from strategic partnerships with industry leaders and safety organizations, which can enhance product visibility and expand its customer base. Additionally, Blackline Safety may engage in service contracts and provide training and support services, further contributing to its earnings.

Blackline Safety Financial Statement Overview

Summary

Blackline Safety shows strong revenue growth and effective cost management with improving gross profit margins. However, the company faces challenges in achieving profitability due to sustained net losses and negative cash flows. The balance sheet is robust with low leverage and increased equity, indicating a stable financial foundation for future growth.

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	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	146.90M	127.29M	100.01M	72.93M	54.31M	38.38M
Gross Profit	90.75M	74.25M	52.78M	32.24M	26.39M	20.19M
EBITDA	6.10M	-1.40M	-15.92M	-46.49M	-27.96M	-3.68M
Net Income	-8.12M	-12.60M	-25.55M	-53.65M	-33.30M	-8.09M
Balance Sheet
Total Assets	162.38M	146.88M	109.12M	108.05M	109.30M	88.61M
Cash, Cash Equivalents and Short-Term Investments	48.70M	43.11M	15.99M	30.94M	54.52M	51.52M
Total Debt	12.42M	13.59M	11.10M	11.25M	2.37M	1.56M
Total Liabilities	82.69M	89.27M	75.92M	55.69M	35.96M	22.28M
Stockholders Equity	79.69M	57.61M	33.20M	52.36M	73.34M	66.33M
Cash Flow
Free Cash Flow	-11.78M	-6.46M	-29.42M	-59.22M	-34.43M	-12.67M
Operating Cash Flow	-4.77M	1.91M	-22.07M	-50.56M	-28.97M	-9.16M
Investing Cash Flow	-5.99M	-30.46M	-3.46M	249.00K	-3.05M	-9.15M
Financing Cash Flow	19.59M	32.59M	9.23M	32.23M	38.72M	34.29M

Blackline Safety Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 6.74
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• 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 6.74 is above the 20-day moving average (MA) of 6.66, below the 50-day MA of 6.89, and below the 200-day MA of 6.92, indicating a neutral trend. The MACD of -0.10 indicates Negative momentum. The RSI at 51.08 is Neutral, neither overbought nor oversold. The STOCH value of 58.73 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
CMG	69 Neutral	C$455.84M	22.04	25.64%	2.32%	3.19%	-1.07%
ENGH	69 Neutral	C$1.13B	15.35	12.20%	5.69%	-0.72%	-9.27%
BLN	66 Neutral	C$571.33M	-70.58	-11.83%	―	20.78%	58.71%
TCS	65 Neutral	C$447.41M	80.54	8.14%	1.07%	7.00%	110.62%
DCBO	63 Neutral	C$875.84M	28.81	49.99%	―	16.25%	31.71%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
XTRA	52 Neutral	C$159.10M	-12.31	-108.12%	―	-12.14%	4.41%

Blackline Safety Corporate Events

Blackline Safety Sets Date for Fiscal Q4 and Year-End 2025 Results Call

Blackline Safety Corp. announced it will release its fiscal fourth quarter and full-year 2025 financial results before markets open on January 15, 2026, followed by a management-hosted conference call and webcast at 11:00 a.m. ET the same day. The scheduled release and investor call underscore the company’s efforts to maintain transparency with shareholders and analysts as it continues to expand its connected safety and IoT footprint globally, with the upcoming results expected to provide insight into its operational performance, growth trajectory and positioning within the industrial safety technology market.

The most recent analyst rating on (TSE:BLN) stock is a Buy with a C$9.00 price target. To see the full list of analyst forecasts on Blackline Safety stock, see the TSE:BLN Stock Forecast page.

Blackline Safety Earns Spot on 2025 Deloitte Technology Fast 500 List

Blackline Safety has been named to the 2025 Deloitte Technology Fast 500 list, marking its fourth appearance as one of the fastest-growing companies in North America. This recognition underscores Blackline’s commitment to delivering innovative connected safety solutions that meet rising global demand, as evidenced by its award-winning EXO 8 area monitor and sustained growth acknowledged by the Globe and Mail’s Top Growing Companies list.

The most recent analyst rating on (TSE:BLN) stock is a Hold with a C$7.50 price target. To see the full list of analyst forecasts on Blackline Safety stock, see the TSE:BLN Stock Forecast page.

Blackline Safety Expands EMEA Operations with New Offices

Blackline Safety is expanding its global presence by opening new offices in Cologne, Germany, and Abu Dhabi, UAE, to strengthen its operations in the EMEA region. This expansion aims to enhance customer engagement and service in Europe, the Middle East, and Africa, particularly in the energy, utilities, and petrochemical sectors. The new offices coincide with Blackline’s participation in major trade events, where the company will showcase updates to its safety platform, further solidifying its position as a leader in connected safety technology.

The most recent analyst rating on (TSE:BLN) stock is a Hold with a C$7.50 price target. To see the full list of analyst forecasts on Blackline Safety stock, see the TSE:BLN Stock Forecast page.

Blackline Safety’s EXO 8 Wins 2025 Firehouse Innovation Award

Blackline Safety’s EXO 8 area monitor has been awarded the 2025 Firehouse Innovation Award, marking its eighth industry accolade this year. The EXO 8 is recognized for its ability to detect eight different gases and gamma radiation in a single portable device, providing real-time data to emergency response teams. This innovation enhances safety by offering instant visibility in hazardous situations, further supported by a recent update to the EXO 8 analytics report on the Blackline Live platform, which improves data visualization and reporting for users.

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.