11:18 AM EST, 11/17/2025 (MT Newswires) -- BioRem ( BIRMF ) up over 4% on last look, said Monday that third-quarter net income and revenue both fell, but still beat estimates.

Net income narrowed to $1.2 million, or $0.06 per diluted share, from $1.9 million, or $0.10 per diluted share, in the prior year period. Analysts polled by FactSet had expected $0.04 per share.

Revenue declined 24% to $11.3 million over the same period, but beat the $9.7 million forecast. Biorem ( BIRMF ) attributed this to customers construction timelines and delivery schedules. The company's current backlog stands at a record $71 million, and is up from the $48.4 million last year.

Biorem ( BIRMF ) said it expects order bookings to continue to grow.

"A multi-pronged effort by the sales team across the various product categories has resulted in strong order bookings and order backlog growth", said Derek Webb, chief executive. "We are extremely pleased with adoption rates of our new products and services. It demonstrates that the adjustments in strategy undertaken in the last couple of years correctly determined the needs of our customers and is providing the reliable performance that the market has come to expect from Biorem ( BIRMF )."

Biorem ( BIRMF ) shares are up $0.09, to $2.24, on the TSX Venture Exchange.

Price: 2.24, Change: +0.09, Percent Change: +4.19