I think this company meets requirements for rule 7… They’ve been around 300M< Market Cap for the past 6 months.
They have rapidly expanding revenue and are becoming a leader in the Gas Detection+ Safety Industry.
They sell Hardware along with Software as a Service which makes revenue extremely sticky.
Blackline Safety Reports Highest Quarterly Revenue Ever – Q2 Hits $31.6M, Up 31% Year-Over-Year
•29th consecutive quarter of year-over-year top-line growth
•Record Annual Recurring Revenue (“ARR”)(1) of $56.5 million, up 33% year-over-year
•Record gross margin of 57%, up from 52% year-over-year
•Net Dollar Retention (“NDR”)(1) of 130% compared to 118% year-over-year
•Net cash used in operating activities decreased 78% to $1.5 million from $7.1 million year-over-year
•EBITDA(1) improves by 59% year-over-year to a $1.9 million loss in Q2 2024 compared to a $4.6 million loss in Q2 2023
I also want to highlight, the CEO sold his first gas detection company to HoneyWell for 260M in 2006.
I wouldn’t be shocked to see him sell again for much more in the next 3-5 years. They have an industry revolutionizing product with their Software addition which is why they’ve grown at 35%< CAGR and are forecasted to continue growing at that pace for the foreseeable future.
They are expected to turn EBITDA positive by end of Q4.
Let me know your thoughts.
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