$BLGO BioLargo's Year-to-Date Revenues Up 80% h
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Posted On: 11/15/2024 10:16:28 AM
$BLGO BioLargo's Year-to-Date Revenues Up 80%
https://www.accesswire.com/943117/biolargos-y...nues-up-80
Annual revenue record secured, with one quarter remaining
WESTMINSTER, CA / ACCESSWIRE / November 15, 2024 / BioLargo, Inc. (OTCQX:BLGO), a company that creates and commercializes sustainable technologies to solve tough environmental and cleantech challenges, announced results of its third quarter of 2024:
Revenues ($14.1 million) through September 30, 2024, were 80% greater than the same period in 2023.
Revenue in the third quarter of 2024 increased 63% ($4.4 million) as compared to the third quarter of 2023.
Net loss was $1.1 million for the third quarter, and $2.6 million through September 30, 2024, compared to $1.5 million and $3.6 million for the same periods in 2023.
The company had current assets of $7,394,000 at September 30, 2024, of which $3,882,000 was cash and cash equivalents.
Total stockholder's equity was $6.0 million as of September 30, 2024.
The full details of the company's financials and business information for the three months and nine months ended September 30, 2024, were filed with the SEC on Form 10-Q, available at www.biolargo.com/sec-filings.
Dennis P. Calvert, President and CEO of BioLargo, commented, "With one quarter still remaining we've already secured a revenue record for 2024, making it our tenth consecutive year of record-setting growth. At the same time, we believe this growth is a mere fraction of our true potential. Each of our subsidiaries has huge potential to disrupt their respective markets and improve lives around the world. Based on our track record of growth and adoption in new business segments underway, we believe 2025 could shape up to be another record year."
He continued, "This year we made substantial investments in equipment and infrastructure in preparation for the anticipated national rollout of our subsidiary Clyra Medical Technologies' products. Like all the technologies we develop at BioLargo, Clyra's products have features and benefits that are simply unmatched in the marketplace, which is why we are so excited to see these products adopted in the marketplace where they can make an impact for the greater good."
https://www.accesswire.com/943117/biolargos-y...nues-up-80
Annual revenue record secured, with one quarter remaining
WESTMINSTER, CA / ACCESSWIRE / November 15, 2024 / BioLargo, Inc. (OTCQX:BLGO), a company that creates and commercializes sustainable technologies to solve tough environmental and cleantech challenges, announced results of its third quarter of 2024:
Revenues ($14.1 million) through September 30, 2024, were 80% greater than the same period in 2023.
Revenue in the third quarter of 2024 increased 63% ($4.4 million) as compared to the third quarter of 2023.
Net loss was $1.1 million for the third quarter, and $2.6 million through September 30, 2024, compared to $1.5 million and $3.6 million for the same periods in 2023.
The company had current assets of $7,394,000 at September 30, 2024, of which $3,882,000 was cash and cash equivalents.
Total stockholder's equity was $6.0 million as of September 30, 2024.
The full details of the company's financials and business information for the three months and nine months ended September 30, 2024, were filed with the SEC on Form 10-Q, available at www.biolargo.com/sec-filings.
Dennis P. Calvert, President and CEO of BioLargo, commented, "With one quarter still remaining we've already secured a revenue record for 2024, making it our tenth consecutive year of record-setting growth. At the same time, we believe this growth is a mere fraction of our true potential. Each of our subsidiaries has huge potential to disrupt their respective markets and improve lives around the world. Based on our track record of growth and adoption in new business segments underway, we believe 2025 could shape up to be another record year."
He continued, "This year we made substantial investments in equipment and infrastructure in preparation for the anticipated national rollout of our subsidiary Clyra Medical Technologies' products. Like all the technologies we develop at BioLargo, Clyra's products have features and benefits that are simply unmatched in the marketplace, which is why we are so excited to see these products adopted in the marketplace where they can make an impact for the greater good."
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