Biorem knocked it outta the parkBIOREM reported record quarterly revenues for the third quarter of $14.9 million, an increase of 103% over the previous quarter and 170% higher than the $5.5 million of revenues reported in the same quarter in 2023. Year to date revenues totalled $28.1 million, a 117% increase over the $13 million reported for the first nine months of 2023. The increase in revenues for the first nine months of 2024 compared to the prior year is largely attributable to the increase in order bookings and continuing delivery of projects from the Company's large order backlog.
During the quarter the Company booked $6.6 million in new orders resulting in an order backlog of $48.4 million on September 30, 2024. This compares to an order backlog of $57 million on June 30, 2024 and $54.5 million as of September 30, 2023.
The Company expects order bookings to continue to grow as and delivery of projects from the order backlog continues generating strong revenue and earnings growth over the next 12 months.