BioLargo Achieves Record Quarterly Revenue of $5 Million for Second Quarter of 2024
BioLargo, Inc. (OTCQX:BLGO), a cleantech company, reported record quarterly revenue of $5 million for Q2 2024, a 247% increase compared to Q2 2023. The company's revenue for the first six months of 2024 grew by 88% compared to the same period in 2023. Despite the revenue growth, BioLargo recorded a net loss of $780,000 for the quarter, including $540,000 in non-cash stock option compensation expense. As of June 30, 2024, the company had $4.8 million in cash and cash equivalents, with total assets of $10.1 million and stockholder's equity of $5.9 million. CEO Dennis P. Calvert expressed confidence in the company's position to advance the commercialization of its cleantech products and services. The final quarterly report is expected to be filed by August 14, 2024, with an earnings conference call scheduled for the same day.
BioLargo, Inc. (OTCQX:BLGO), un'azienda cleantech, ha riportato un fatturato trimestrale record di $5 milioni per il secondo trimestre del 2024, con un incremento del 247% rispetto al secondo trimestre del 2023. Il fatturato dell'azienda nei primi sei mesi del 2024 è cresciuto dell'88% rispetto allo stesso periodo del 2023. Nonostante la crescita dei ricavi, BioLargo ha registrato una perdita netta di $780.000 per il trimestre, inclusi $540.000 in spese per compensi in opzioni azionarie non monetarie. Al 30 giugno 2024, l'azienda disponeva di $4,8 milioni in liquidità e equivalenti di liquidità, con attivi totali di $10,1 milioni e un patrimonio netto di $5,9 milioni. Il CEO Dennis P. Calvert ha espresso fiducia nella posizione dell'azienda per promuovere la commercializzazione dei suoi prodotti e servizi cleantech. Il rapporto trimestrale finale è previsto per essere presentato entro il 14 agosto 2024, con una chiamata di earnings programmata per lo stesso giorno.
BioLargo, Inc. (OTCQX:BLGO), una empresa de tecnología limpia, reportó un ingreso trimestral récord de $5 millones para el segundo trimestre de 2024, un incremento del 247% en comparación con el segundo trimestre de 2023. Los ingresos de la compañía durante los primeros seis meses de 2024 crecieron un 88% en comparación con el mismo período de 2023. A pesar del crecimiento de ingresos, BioLargo reportó una pérdida neta de $780,000 para el trimestre, incluyendo $540,000 en gastos por compensación de opciones sobre acciones no monetarias. Al 30 de junio de 2024, la empresa tenía $4.8 millones en efectivo y equivalentes de efectivo, con activos totales de $10.1 millones y un patrimonio de $5.9 millones. El CEO Dennis P. Calvert expresó confianza en la posición de la empresa para avanzar en la comercialización de sus productos y servicios de tecnología limpia. Se espera que el informe trimestral final sea presentado antes del 14 de agosto de 2024, con una llamada de ganancias programada para el mismo día.
BioLargo, Inc. (OTCQX:BLGO), 청정 기술 회사,는 2024년 2분기에 500만 달러의 분기 매출 기록을 보고했으며, 이는 2023년 2분기 대비 247% 증가한 수치입니다. 2024년 상반기 동안 회사의 매출은 2023년 같은 기간과 비교해 88% 증가했습니다. 매출 증가에도 불구하고 BioLargo는 분기 동안 78만 달러의 순손실을 기록했으며, 여기에는 54만 달러의 비현금 주식 옵션 보상 비용이 포함됩니다. 2024년 6월 30일 기준으로 회사는 480만 달러의 현금 및 현금성 자산을 보유하고 있으며, 총 자산은 1010만 달러, 주주 자본은 590만 달러입니다. CEO인 Dennis P. Calvert는 청정 기술 제품 및 서비스의 상용화를 진전시킬 수 있는 회사의 입지에 대한 신뢰를 표명했습니다. 최종 분기 보고서는 2024년 8월 14일까지 제출될 예정이며, 같은 날 수익 발표 전화 회의가 예정되어 있습니다.
BioLargo, Inc. (OTCQX:BLGO), une entreprise de technologies propres, a annoncé un chiffre d'affaires trimestriel record de 5 millions de dollars pour le deuxième trimestre 2024, soit une augmentation de 247% par rapport au deuxième trimestre 2023. Le chiffre d'affaires de l'entreprise pour les six premiers mois de 2024 a crû de 88% par rapport à la même période en 2023. Malgré cette croissance, BioLargo a enregistré une perte nette de 780 000 dollars pour le trimestre, incluant 540 000 dollars de charges de compensation d'options sur actions non monétaires. Au 30 juin 2024, l'entreprise disposait de 4,8 millions de dollars en liquidités et équivalents de liquidités, avec un total d'actifs de 10,1 millions de dollars et des capitaux propres de 5,9 millions de dollars. Le PDG Dennis P. Calvert a exprimé sa confiance dans la position de l'entreprise pour faire progresser la commercialisation de ses produits et services de technologies propres. Le rapport trimestriel final est prévu pour être déposé d'ici le 14 août 2024, avec une conférence téléphonique sur les résultats prévue le même jour.
BioLargo, Inc. (OTCQX:BLGO), ein Cleantech-Unternehmen, berichtete von einem Rekordumsatz von 5 Millionen Dollar für das 2. Quartal 2024, was einem 247%igen Anstieg im Vergleich zum 2. Quartal 2023 entspricht. Der Umsatz des Unternehmens für die ersten sechs Monate 2024 wuchs um 88% im Vergleich zum gleichen Zeitraum 2023. Trotz des Umsatzwachstums verzeichnete BioLargo einen Nettoverlust von 780.000 Dollar für das Quartal, einschließlich 540.000 Dollar an nicht zahlungswirksamen Aktienoptionsaufwendungen. Zum 30. Juni 2024 verfügte das Unternehmen über 4,8 Millionen Dollar in Bar- und Baräquivalenten, mit Gesamtvermögen von 10,1 Millionen Dollar und einem Eigenkapital von 5,9 Millionen Dollar. CEO Dennis P. Calvert äußerte Vertrauen in die Position des Unternehmens, die Kommerzialisierung seiner Cleantech-Produkte und -Dienstleistungen voranzutreiben. Der endgültige Quartalsbericht wird voraussichtlich bis zum 14. August 2024 eingereicht, und eine Gewinn-Konferenzschaltung ist für denselben Tag angesetzt.
- Record quarterly revenue of $5 million, a 247% increase year-over-year
- 88% revenue growth for the first six months of 2024 compared to 2023
- Strong cash position with $4.8 million in cash and cash equivalents
- Total assets increased to $10.1 million
- Stockholder's equity rose to $5.9 million
- Net loss of $780,000 for the quarter
- Preliminary results subject to change pending review process
Q2 2024 revenues grew
WESTMINSTER, CA / ACCESSWIRE / August 6, 2024 / BioLargo, Inc. (OTCQX:BLGO), a company that creates and commercializes sustainable technologies to solve tough environmental and cleantech challenges, announced preliminary results for its second quarter ended June 30, 2024:
Companywide revenue (
$5.0 million ) for the quarter increased247% compared with the second quarter of 2023 and increased5% compared to the first quarter of 2024 (revenues for the six months ended June 30, 2024, increased88% over the first six months of 2023).The company had a net loss for the quarter of
$780,000 , which included approximately$540,000 in non-cash stock option compensation expense.At June 30, 2024, the company had
$4.8 million in cash and cash equivalents, and$10.1 million total assets.The company's total stockholder's equity increased to
$5.9 million as of June 30, 2024.
BioLargo's President and CEO Dennis P. Calvert said of the results, "We had another quarter of record revenues, and we continue to strengthen our balance sheet. We are in a strong position to continue advancing the commercialization of our multiple cleantech products and services."
The company is still working to finalize its quarterly report on Form 10-Q for the period ended June 30, 2024, which it intends to file on or before the August 14, 2024 deadline. The revenue estimates described here are preliminary and subject to change pending the review process.
The company plans to hold an earnings conference call and webcast on August 14, 2024, to discuss its results, and will provide more information about this event soon.
About BioLargo, Inc.
BioLargo, Inc. (OTCQX:BLGO) is a cleantech and life sciences innovator and engineering services solution provider. Our core products address PFAS contamination, achieve advanced water and wastewater treatment, control odor and VOCs, improve air quality, enable energy-efficiency and safe on-site energy storage, and control infections and infectious disease. Our approach is to invent or acquire novel technologies, develop them into product offerings, and extend their commercial reach through licensing and channel partnerships to maximize their impact. See our website at www.BioLargo.com.
Contact Information
Dennis P. Calvert
President and CEO, BioLargo, Inc.
888-400-2863
Safe Harbor Act
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about BioLargo's (the "Company") expectations regarding anticipated revenue; and plans for future operations. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: the effect of regional economic conditions on the Company's business, including effects on purchasing decisions by consumers and businesses; the ability of the Company to compete in markets that are highly competitive and subject to rapid technological change; the ability of the Company to manage frequent introductions and transitions of products and services, including delivering to the marketplace, and stimulating customer demand for, new products, services, and technological innovations on a timely basis; the dependency of the Company on the performance of distributors of the Company's products. More information on these risks and other potential factors that could affect the Company's business and financial results is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
SOURCE: BioLargo, Inc.
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