BioRem (BRM) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 reached $15.7 million, up 66% year-over-year and 130% sequentially from Q1 2026.

• Net earnings for the quarter were $2.7 million, compared to $0.2 million in Q1 2026 and $0.7 million in Q2 2025.

• EPS was $0.12 basic and $0.11 diluted, significantly higher than prior periods.

• Order backlog remained near record levels at $75.5 million, with 20 new projects secured.

• Project execution exceeded expectations despite tariffs, inflation, and supply chain challenges.

Financial highlights

• Gross profit was $4.9 million (31% of revenue), up from $1.4 million (20% of revenue) in Q1 2026.

• EBITDA for the quarter was $2.8 million, up from $0.4 million in Q1 2026 and $1.2 million in Q2 2025.

• Operating expenses increased to $2.2 million, mainly due to higher variable sales expenses.

• Cash position at quarter-end was $7.2 million, down from $11.5 million at year-end 2025.

• Working capital rose to $16.8 million, up $2.8 million from December 31, 2025.

Outlook and guidance

• Management remains optimistic due to a strong project pipeline and continued global sales momentum.

• Backlog at near-historic highs supports positive outlook for future quarters.