Stocks & Stones blog - August 6th Biorem is a leading cleantech company that designs, manufactures, and distributes a line of high-efficiency air emissions control systems that eliminate odours, volatile organic compounds, and hazardous air pollutants.
Due to project delays in previous years, Biorem had a record-high backlog of $52 million at the end of Q1. Compared to annual revenues of $25 million and $29 million over the previous two years, it's evident that Biorem has a high degree of visibility over upcoming growth.
When I chatted with the CEO several months ago, he mentioned that the delivery of that backlog was tilted towards the first half of the year, unlike previous years, when Q4 was typically strongest. So far, Q1 has not disappointed with 87% year-over-year revenue growth.
Over the last month and a half, the stock has been building a nice base around the $2.00 level and looks poised to break out higher on strong Q2 results.