Blackline Safety - Public Comps and Valuation Multiples

Blackline Safety Overview

About Blackline Safety

Blackline Safety Corp is a connected safety monitoring technology company. The company develops, manufactures, and markets products and services that empower businesses with real-time safety insights to manage emergency responses, evacuations, and gas detection compliance programs. Its operating segments include, Product segment and Service segment which generates the majority of the revenue for the company. Service revenues relate to connectivity, monitoring and data services that it provides to the customers of its safety devices and includes access to the Blackline Safety Cloud, compliance and analytics reports, SOC monitoring, two-way voice functionality and push to talk capability. Geographically, it derives revenue from Canada, Europe, United States and Rest of the World.

Founded

2006

HQ

Employees

562

Website

blacklinesafety.com

Sectors

IoT
DeepTech

Financials

LTM Revenue $108M

LTM EBITDA $3.6M

EV

$408M

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Blackline Safety Financials

As of September 2025, Blackline Safety reported last 12-month revenue of $108M and EBITDA of $3.6M.

In the same period, Blackline Safety generated $66.8M in LTM gross profit and -$7.0M in net income.

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Blackline Safety P&L

In the most recent fiscal year, Blackline Safety reported revenue of $90.7M and EBITDA of -$1.0M.

Blackline Safety expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$108M	XXX	$90.7M	XXX	XXX	XXX
Gross Profit	$66.8M	XXX	$52.9M	XXX	XXX	XXX
Gross Margin	62%	XXX	58%	XXX	XXX	XXX
EBITDA	$3.6M	XXX	-$1.0M	XXX	XXX	XXX
EBITDA Margin	3%	XXX	-1%	XXX	XXX	XXX
EBIT	-$5.0M	XXX	-$9.3M	XXX	XXX	XXX
EBIT Margin	-5%	XXX	-10%	XXX	XXX	XXX
Net Profit	-$7.0M	XXX	-$9.0M	XXX	XXX	XXX
Net Margin	-6%	XXX	-10%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Blackline Safety including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $108M. EBITDA for the last twelve months was $3.6M. In the most recent fiscal year, Blackline Safety achieved $90.7M in revenue and -$1.0M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$108M	Analyst estimates available to subscribers	$90.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$66.8M	Analyst estimates available to subscribers	$52.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	61.8% gross margin	Analyst estimates available to subscribers	58.3% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$3.6M	Analyst estimates available to subscribers	-$1.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	3.3% EBITDA margin	Analyst estimates available to subscribers	-1.1% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$5.0M	Analyst estimates available to subscribers	-$9.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-4.6% EBIT margin	Analyst estimates available to subscribers	-10.3% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$7.0M	Analyst estimates available to subscribers	-$9.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-6.5% net profit margin	Analyst estimates available to subscribers	-9.9% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Blackline Safety

This financial data table provides comprehensive performance metrics for Blackline Safety, a company based in Canada. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Blackline Safety generated $108M in revenue over the last twelve months.
The company achieved $3.6M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $66.8M.
Net income over the last twelve months reached -$7.0M.

Fiscal Year Performance

In the most recent fiscal year, Blackline Safety reported $90.7M in total revenue.
Fiscal year EBITDA was -$1.0M.
The company maintained a gross profit margin of 58.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was -1.1%.
Net profit margin reached -9.9% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Blackline Safety. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Blackline Safety Stock Performance

Blackline Safety has current market cap of CAD 609M (or $434M), and EV of CAD 573M (or $408M).

Market Cap Evolution

Blackline Safety Stock Data

As of October 17, 2025, Blackline Safety's stock price is CAD 7 (or $5).

See Blackline Safety trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$408M	$434M	XXX	XXX	XXX	XXX	$-0.08

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Blackline Safety Valuation Multiples

Blackline Safety's trades at 4.4x EV/Revenue multiple, and -2049.3x EV/EBITDA.

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Blackline Safety Financial Valuation Multiples

As of October 17, 2025, Blackline Safety has market cap of $434M and EV of $408M.

Equity research analysts estimate Blackline Safety's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Blackline Safety has a P/E ratio of -62.1x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$434M	XXX	$434M	XXX	XXX	XXX
EV (current)	$408M	XXX	$408M	XXX	XXX	XXX
EV/Revenue	3.8x	XXX	4.4x	XXX	XXX	XXX
EV/EBITDA	113.4x	XXX	-2049.3x	XXX	XXX	XXX
EV/EBIT	-81.2x	XXX	-47.5x	XXX	XXX	XXX
EV/Gross Profit	6.1x	XXX	n/a	XXX	XXX	XXX
P/E	-62.1x	XXX	-50.3x	XXX	XXX	XXX
EV/FCF	-59.7x	XXX	-81.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Blackline Safety Margins & Growth Rates

Blackline Safety's last 12 month revenue growth is 21%

Blackline Safety's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Blackline Safety's rule of 40 is 8% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Blackline Safety's rule of X is 56% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Blackline Safety Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	21%	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	3%	XXX	0%	XXX	XXX	XXX
EBITDA Growth	235%	XXX	n/a	XXX	XXX	XXX
Rule of 40	8%	XXX	21%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	56%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	33%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	15%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	69%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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