Fuel for Thought
G7 Products Push Blackline Safety to $11.6M Revenue in 2017
Feb 13 2018 Read 1190 Times
Blackline Safety Corp. a leading manufacturer of connected worker safety monitoring solutions, have announced record fourth quarter and annual results for its fiscal year ended October 31, 2017.
“Significant growth throughout the year was met with a dramatic increase in fourth-quarter revenue, driven by deployment of the G7 product to over 100 customers, including a major order from a utility customer with a five-year service commitment,” said Cody Slater, Blackline Safety CEO and Chairman. “Blackline’s fiscal 2017 was a milestone year that culminated in the release, global certification and initial customer orders of our revolutionary G7 product family.” He added, “For the first time ever, businesses can deploy a turnkey wireless safety system, delivering unparalleled features and modularity to comprehensively monitor the wellbeing of personnel, including their potential exposure to hazardous gasses.”
“With a strong cash balance, fully-commercialized G7 portfolio, targeted product development program, expanding sales force and growing distribution network, we are well positioned to leverage our lead in the connected safety market and deliver another record year in our fiscal 2018,“ said Slater.
Blackline’s 2017 revenue of $11.6M was a 45% increase on 2016, with $4.6M of the total coming from product revenue and $7.4M generated from servicing, which were increases of 96% and 26% respectively. This success had Blackline ranked on the Canadian PROFIT 500 list of fastest growing companies for the fifth year running. 2017 also saw the highly successful and customisable G7c gas detector named New Product of the Year by Occupational Health & Safety magazine in the US.
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