Mr. Derek Webb reports

BIOREM REPORTS RECORD THIRD QUARTER EARNINGS OF $ 2.7 MILLION AND $0.16 EPS - REVENUE INCREASES 48% OVER SAME PERIOD IN PRIOR YEAR

Biorem Inc. has released results for the three-month period ended Sept. 30, 2026. Biorem's complete 2026 third quarter financial statements and MD&A (management's discussion and analysis) have been filed on SEDAR+.

The company is reporting record third quarter revenues and earnings.

Revenues for the quarter totaled $16.6-million, a $5.4-million or 48-per-cent increase from revenues of $11.3-million recorded during the third quarter of 2025. Year-to-date revenues also set records totalling $39.1-million compared with $25.4-million for the first nine months of 2025.

Earnings for the quarter were $2.7-million representing 15.8 cents in earnings per share, and year-to-date earnings were $6.6-million or 29 cents per share.

New order bookings in the quarter totalled $15.1-million bringing bookings for the nine months to $48.6-million and maintaining the company's order backlog at $74.5-million on Sept. 30, 2026.

Gross profit in the quarter of $5.6-million, represented 34 per cent of revenue, compared with $4.9-million and 31 per cent of revenue in the second quarter of 2026. The increase in gross profit during the quarter was due to project mix and higher revenues in the quarter.

Operating expenses for the quarter were $2.0-million, which was consistent with the same quarter in the previous year but $413,000 higher than the immediately preceding quarter due to increased variable sales expenses on the higher revenues recorded in the quarter.

"Our momentum from earlier in the year continued into the third quarter," said Derek S. Webb, president and chief executive officer. "Project execution continues to be strong, and the organization has responded effectively to the various challenges that linger in the industry and greater economy. We have been able to maintain or improve our margins, and many projects are ahead of schedule.

"Just as critical, our sales team continues to close strategic projects around the globe, with our backlog at near-historical levels. With many potential projects still in the pipeline, management is excited at the future potential for the variety of new products and services being offered to our customer base."

The company's cash position stood at $7.9-million on Sept. 30, 2026, compared with the $8.4-million held on Sept. 30, 2025. Working capital at the end of the quarter was $19.5-million, up $7.8-million from the $11.7-million held on Sept. 30, 2025, and up $2.6-million from the $16.8-million recorded at June 30, 2026.

About Biorem Inc.

Biorem is a leading clean technology company that designs, manufactures and distributes a comprehensive line of high-efficiency air emissions control systems used to eliminate odours, volatile organic compounds (VOCs) and hazardous air pollutants (HAPs). With sales and manufacturing offices across the continent, a dedicated research facility, a worldwide sales representative network and more than 2,000 installed systems worldwide, Biorem offers state-of-the-art technology-based products, and peace of mind for municipalities, industrial companies and their surrounding communities.