$BLGO Cleantech Innovator BioLargo Reports Record Revenues in 2024 Annual Report
https://www.accessnewswire.com/newsroom/en/ch...rt-1008130
Revenues up 45% over prior year
WESTMINSTER, CALIFORNIA / ACCESS Newswire / April 1, 2025 / BioLargo, Inc. (OTCQX:BLGO), a company that creates and commercializes sustainable technologies to solve tough environmental and cleantech challenges, announced that its Annual Report reported record revenues and an increase of 45% over prior year (see www.biolargo.com/sec-filings).
"We're proud to report the tenth year in a row of record revenues in our 10-K filed yesterday," said Dennis P. Calvert, the company's President and CEO. "With over $5 million cash generated by our odor control products, we were able to reduce our reliance on equity financing. But, we're most excited about our emerging products, such as the Clyra surgical products, our water treatment solution for the global PFAS contamination crisis, and our safe, long-lasting battery energy storage technology we call Cellinity."
BioLargo held an earnings webcast and conference call on March 31, 2025, to discuss results for the year ended December 31, 2024. A recording and transcript of this webcast will be made available at the following link: https://www.biolargo.com/quarterly-webcasts
The following are highlights from BioLargo's annual report filed with the Securities and Exchange Commission (SEC) on March 31, 2025, and are not a substitute for the details in the Form 10-K, which can be found here (https://www.biolargo.com/sec-filings). All interested parties are encouraged to review the full report filed with the SEC, including the Risk Factors beginning on page 9, to get the most complete information about BioLargo and its growing cleantech business.
Key highlights:
Revenues for the year ended December 31, 2024, were $17,779,000, a 45% increase over 2023, which represents the tenth consecutive year of revenue growth
Net loss for 2024 was $4,347,000, a 6% decrease year-over-year; of that amount, $3,490,000 was from Clyra Medical's operations
Clyra Medical continues to make progress towards a national rollout of its surgical irrigation products, recently successfully concluding a joint formal inspection of manufacturing capabilities with its distribution partner
Non-cash expenses (issuance of stock and stock options) were $2,479,000 (57% of net loss)
Company was less reliant on equity financing in 2024, issuing 42% fewer shares of stock in 2024 as compared with 2023
At December 31, 2024, stockholders' equity was $6,056,000, assets were $10,513,000, liabilities were $4,457,000, and the company had $4,489,000 in working capital and $3,548,000 in cash and cash equivalents
https://www.accessnewswire.com/newsroom/en/ch...rt-1008130
Revenues up 45% over prior year
WESTMINSTER, CALIFORNIA / ACCESS Newswire / April 1, 2025 / BioLargo, Inc. (OTCQX:BLGO), a company that creates and commercializes sustainable technologies to solve tough environmental and cleantech challenges, announced that its Annual Report reported record revenues and an increase of 45% over prior year (see www.biolargo.com/sec-filings).
"We're proud to report the tenth year in a row of record revenues in our 10-K filed yesterday," said Dennis P. Calvert, the company's President and CEO. "With over $5 million cash generated by our odor control products, we were able to reduce our reliance on equity financing. But, we're most excited about our emerging products, such as the Clyra surgical products, our water treatment solution for the global PFAS contamination crisis, and our safe, long-lasting battery energy storage technology we call Cellinity."
BioLargo held an earnings webcast and conference call on March 31, 2025, to discuss results for the year ended December 31, 2024. A recording and transcript of this webcast will be made available at the following link: https://www.biolargo.com/quarterly-webcasts
The following are highlights from BioLargo's annual report filed with the Securities and Exchange Commission (SEC) on March 31, 2025, and are not a substitute for the details in the Form 10-K, which can be found here (https://www.biolargo.com/sec-filings). All interested parties are encouraged to review the full report filed with the SEC, including the Risk Factors beginning on page 9, to get the most complete information about BioLargo and its growing cleantech business.
Key highlights:
Revenues for the year ended December 31, 2024, were $17,779,000, a 45% increase over 2023, which represents the tenth consecutive year of revenue growth
Net loss for 2024 was $4,347,000, a 6% decrease year-over-year; of that amount, $3,490,000 was from Clyra Medical's operations
Clyra Medical continues to make progress towards a national rollout of its surgical irrigation products, recently successfully concluding a joint formal inspection of manufacturing capabilities with its distribution partner
Non-cash expenses (issuance of stock and stock options) were $2,479,000 (57% of net loss)
Company was less reliant on equity financing in 2024, issuing 42% fewer shares of stock in 2024 as compared with 2023
At December 31, 2024, stockholders' equity was $6,056,000, assets were $10,513,000, liabilities were $4,457,000, and the company had $4,489,000 in working capital and $3,548,000 in cash and cash equivalents
