Blackline Safety (BLN) AI Stock Analysis

• Market Cap: C$635.08M
• Dividend Yield: N/A
• Average Volume (3M): 47.79K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.56
• Revenue Growth: 31.68%
• EPS Growth: 67.90%
• Country: CA
• Employees: 540
• Sector: Technology
• Sector Strength: 76
• Industry: Software - Application
• EPS (TTM): -0.01
• Shares Outstanding: 86,661,040
• 10 Day Avg. Volume: 60,546
• 30 Day Avg. Volume: 47,786
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• P/FCF Ratio: N/A
• 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$9.25
• Price Target Upside: 23.01% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 68 Neutral
• Price Target: C$8.00 ▲( 6.38% Upside)

Blackline Safety's strong revenue growth and solid balance sheet are significant strengths, but the current lack of profitability and negative cash flow pose challenges. Technical analysis shows positive momentum, though near-term caution is advised due to valuation concerns and overbought signals. Recent corporate events underscore strategic positioning but have a limited impact on the overall score.

Positive Factors

Performance Expectations

The analysis sets expectations for another year of superior performance.

Stock Recommendation

Analyst recommends a BUY rating for Blackline Safety stock.

Stock Target Price

The stock has a target price set at C$70.00.

Negative Factors

EBITDA Guidance

EBITDA guidance is in line with expectations but falls 4% below industry estimates.

Guidance Revision

Another guidance revision has occurred due to ongoing power availability issues.

Performance Outlook

There is a cautious near-term outlook for Blackline Safety's performance.

Blackline Safety Business Overview & Revenue Model

Company Description

Blackline Safety (BLN) is a leading provider of connected safety technology, specializing in the development of cutting-edge safety wearables and monitoring solutions. The company operates primarily in the industrial and commercial sectors, offering products and services that enhance worker safety and operational efficiency. Blackline Safety's core products include personal gas detection devices, lone worker monitoring systems, and cloud-connected software platforms that provide real-time safety insights and analytics.

How the Company Makes Money

Blackline Safety generates revenue through the sale of its safety devices and associated services. The company's revenue model includes product sales, subscription-based services, and data analytics offerings. Key revenue streams include the direct sale of safety equipment, such as gas detectors and lone worker monitors, and recurring subscription fees for access to its cloud-based safety monitoring and analytics platform. Additionally, Blackline Safety benefits from partnerships with industrial clients and distributors, which help to expand its market reach and drive sales growth. The company also offers maintenance and support services, contributing further to its earnings.

Blackline Safety Financial Statement Overview

Summary

Blackline Safety exhibits strong revenue growth and a stable balance sheet with low leverage. However, persistent operating losses and negative free cash flow present risks to financial sustainability. The company should focus on improving profitability and cash flow management to enhance its financial standing.

Income Statement

Blackline Safety has shown significant revenue growth with a 27.3% increase from the previous year, reflecting strong sales performance. However, the company has been operating at a loss, evident from the negative net profit margin of -9.89% and a negative EBIT margin of -8.36%. The gross profit margin stands at 58.33%, which is robust for the software industry, but the negative margins indicate challenges in managing operating expenses.

Balance Sheet

The balance sheet reveals a relatively low debt-to-equity ratio of 0.24, indicating prudent financial leverage. The equity ratio is 39.22%, suggesting that a significant portion of the company's assets are funded by equity. Return on equity is negative at -21.86%, which reflects the company's current unprofitability. Overall, the balance sheet shows stability with manageable debt levels.

Cash Flow

The company has improved operating cash flow to $1.91 million from a negative position, but free cash flow remains negative at -$6.46 million, which is concerning for long-term sustainability. The operating cash flow to net income ratio is -0.15, indicating cash flow challenges. Improvements in free cash flow management are necessary to strengthen financial health.

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
	EBIT
-10.65M	-24.45M	-51.98M	-32.30M	-8.35M
	EBITDA
-1.40M	-15.92M	-46.49M	-27.96M	-3.68M
	Net Income Common Stockholders
-12.60M	-25.55M	-53.65M	-33.30M	-8.09M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
43.11M	15.99M	30.94M	54.52M	51.52M
	Total Assets
146.88M	109.12M	108.05M	109.30M	88.61M
	Total Debt
13.59M	11.10M	11.25M	2.37M	1.56M
	Net Debt
-2.52M	-384.00K	-11.19M	-32.06M	-26.96M
	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: Positive
• Last Price: 7.52
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BLN, the sentiment is Positive. The current price of 7.52 is above the 20-day moving average (MA) of 6.95, above the 50-day MA of 6.73, and above the 200-day MA of 6.30, indicating a bullish trend. The MACD of 0.25 indicates Negative momentum. The RSI at 72.74 is Negative, neither overbought nor oversold. The STOCH value of 88.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BLN.

Blackline Safety Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ENGH	75 Outperform	C$1.45B	17.04	14.76%	4.00%	8.11%	15.83%
CMG	75 Outperform	C$576.95M	25.72	29.19%	2.86%	32.49%	-0.20%
KXS	73 Outperform	C$5.53B	397.48	2.32%	―	15.14%	-31.45%
BLN	68 Neutral	C$635.08M	―	-14.10%	―	31.68%	67.90%
DCBO	67 Neutral	$1.09B	34.11	41.12%	―	20.52%	246.69%
TCS	66 Neutral	C$610.06M	201.96	4.56%	0.80%	2.61%	46.26%
Sector *	61 Neutral	$11.29B	10.07	-7.05%	2.96%	7.47%	-10.75%

Blackline Safety Corporate Events

Blackline Safety’s EXO 8 Wins Multiple Awards for Safety Innovation

Blackline Safety has announced that its new EXO 8 area monitor, capable of detecting up to eight gases plus gamma radiation, has received four prestigious awards, including the Red Dot Design Award and three Occupational Health & Safety Industrial Hygiene Awards. These accolades underscore EXO 8’s innovative design and its significant impact on industrial safety, particularly in emergency preparedness and response. The device’s new gamma detection capability is especially beneficial for fire and hazmat teams, contributing to a 175% growth in customer adoption in these sectors. The EXO 8’s success reflects Blackline’s commitment to advancing proactive safety management and its strong market position in connected safety technology.

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.

Blackline Safety’s Meaghan Whitney Recognized as a Top Executive in HR

Blackline Safety’s Chief People Officer, Meaghan Whitney, has been honored in the Globe and Mail’s 2025 Best Executives for her exceptional leadership in Human Resources. Under Whitney’s leadership, Blackline has experienced significant workforce growth and improved employee engagement, contributing to the company’s consistent revenue growth and strong industry positioning.

Blackline Safety Strengthens Leadership with Key Vice President Promotions

Blackline Safety announced the promotion of three senior leaders to Vice President roles, enhancing its leadership team to support continued global expansion and operational efficiency. Andrea Lamond, Eric Palmiere, and Julie Baron have been promoted to lead Growth Operations, Business IT & Cybersecurity, and Marketing, respectively, as the company builds on its momentum of 32 consecutive quarters of growth, aiming to deliver industry-leading safety innovations worldwide.

Blackline Safety Recognized as a Global Innovator in Workplace Safety

Blackline Safety has been recognized by Fast Company as one of the World’s Most Innovative Companies for 2025, highlighting its significant contributions to workplace safety through innovative technology. The company’s connected safety solutions, including wearable devices and cloud-based software, enable real-time monitoring and incident prevention, thereby transforming how organizations protect their workforce. This accolade underscores Blackline’s leadership in setting new standards for safety and operational performance in hazardous environments.

Blackline Safety Announces Leadership Changes and Shareholder Meeting Outcomes

Blackline Safety Corp. announced the results of its 2025 shareholders meeting, highlighting the retirement of Cheemin Bo-Linn and the appointment of Jason Cohenour as the new lead independent director. The meeting also saw the election of all proposed directors and the approval of several resolutions, including amendments to the company’s stock option and share award incentive plans. These changes are expected to support Blackline’s strategic growth and governance, reinforcing its commitment to long-term value creation for stakeholders.

Blackline Safety Achieves Record Q1 2025 Revenue with Strong Growth

Blackline Safety Corp. reported a record fiscal first quarter 2025 revenue of $37.7 million, marking a 43% increase year-over-year, and achieving its 32nd consecutive quarter of revenue growth. The company also reported a record annual recurring revenue of $70.9 million, up 31% year-over-year, and a net dollar retention of 128%, underscoring strong global demand and the ability to scale profitably.

Blackline Safety Celebrates 20 Years with Charitable Donation

To commemorate its 20th anniversary, Blackline Safety Corp. donated $20,000 to Threads of Life, a Canadian non-profit dedicated to supporting families affected by workplace tragedies. This gesture underscores Blackline’s commitment to workplace safety and innovation, aiming to prevent future incidents and promote safe working environments, especially for lone workers who often feel unsafe.

Blackline Safety to Announce Q1 2025 Financial Results

Blackline Safety Corp. has announced that it will release its fiscal first quarter 2025 financial results on March 12, 2025, before the market opens. The company will host a conference call and webcast to discuss these results, which could provide insights into its financial health and strategic direction, potentially impacting stakeholders and its positioning in the safety technology industry.