01:29 PM EDT, 09/18/2025 (MT Newswires) -- (Adds analyst comment and updates shares.)

Blackline Safety ( BLKLF ) on Thursday said it secured a $1.8 million contract with a major North American water and wastewater utility provider based in California.

The company said the order includes more than 560 devices, comprised of G7c wearable gas detectors and Blackline Docks to streamline device calibration and charging.

Blackline said the agreement also includes four years of self-monitoring services, ensuring ongoing visibility and heightened protection for the company's workers.

"This contract is an important step in our continued expansion across the water and wastewater sector," said Chief Growth Officer, Sean Stinson.

National Bank of Canada on Thursday maintained its outperform rating and $9.00 price target on the company's shares.

The bank noted it does not believe the size of this new deal "will move the needle", as the company transforms to capture more large deals. However, the bank noted the contract is a good example of Blackline leveraging its success in other regions into a new market.

"We believe Blackline's technical edge comes from its connectivity that enables flows of data for greater visibility of employee activities and their work environment," added the bank.

The company's shares were last seen up $0.15 to $7.23 on the Toronto Stock Exchange.

Price: 7.25, Change: +0.17, Percent Change: +2.40