Blackline Safety has always been noted as a global leader of gas detection and affiliated safety solutions. However, in recent weeks, the firm has been able to add a new feather to its already distinguished cap. This is a distinction that few, if any, of its rivals in the industry can claim to share.
Blackline Safety Registers a Period of Massive Growth
As of the month of September, Blackline Safety has achieved a solid ranking No. 145 on the 2020 Report on Business list of Canada’s Top Growing Companies. This is a special initiative whose function is rank native Canadian companies. The criteria being made use of is a specially calculated chart of three year revenue growth.
According to the summary published by The Globe and Mail, Blackline achieved its rank thanks to a three year revenue growth of 216 percent. This is an amazing record of exponential progress that very few of its peers, Canadian or elsewhere in origin, can hope to exceed. And this growth is still ongoing.
Thanks to its placement on the list, Blackline Safety is now ranked as the fastest growing public company based out of the city of Calgary. If its projected growth can continue, it will soon overtake a great many other firms that are based in the province of Alberta. Experts claim it is very possible.
A New Era of Record Growth Lies Ahead
In a report made to the media last week, Blackline Safety made some stunning new proclamations. The firm was very pleased to announce a record third quarter revenue of $9.4 million for the quarter that ended on July 31, 2020. This is by far the best third quarter that the firm has ever had and more positive proof of its success.
Blackline Safety is currently enjoying a true renaissance of growth in many other areas. These will, of course, include recurring serve revenue, which has registered a growth of 44 percent over the quarter posted at this time last year.
It should also be noted that the firm has also made public news concerning the closing of a fresh deal concerning private placement. This will bring in gross proceeds of $36 million.
The Sky is the Limit for Blackline Safety
Because the safety technology that Blackline offers is based on the cloud, the firm is able to stand proof against a great many hazards. No one will pretend that the recent pandemic isn’t affecting sales in this area. However, it is also evident that a tech model based on cloud storage offers advantages that can offset the worst effects.
This has certainly proven to be the case with Blackline Safety. Even the worst months of the raging Covid-19 epidemic have proven to be profitable ones for the firm. This is in large part due to the virtual, rather than physical, nature of its business model. But it also due to a long record of state of the art tech and service.
