BioLargo Continues Record Setting Revenue Growth
BioLargo, Inc. (OTCQB:BLGO) reported record-setting revenue growth for Q1 2023, surpassing previous quarterly figures. Driven by significant sales of the Pooph pet-odor control product through Ikigai Marketing Works, the company expects over 50% revenue growth compared to Q4 2022, marking the seventh consecutive quarter of growth. Preliminary Q1 2023 revenues are projected to exceed four times those of Q1 2022. While the company is not yet profitable, net losses are decreasing. An earnings conference call is scheduled for April 3, 2023, and the 2022 financial statements are under audit, with a filing expected by the end of March.
- Record Q1 2023 revenues exceeding previous quarter's records.
- Anticipated over 50% revenue growth from Q4 2022.
- Seventh consecutive quarter of revenue growth.
- Projected Q1 2023 revenues are more than four times Q1 2022.
- The company is not yet profitable despite revenue growth.
WESTMINSTER, CA / ACCESSWIRE / March 20, 2023 / BioLargo, Inc. (OTCQB:BLGO), a developer of sustainable cleantech technologies and full-service environmental engineering company, announced that the Company's first quarter 2023 revenues have already surpassed the Company's previous record quarterly revenues set last quarter. This revenue growth is driven primarily by sales of the Pooph branded pet-odor control product sold by Ikigai Marketing Works, LLC. Company management expects that quarter over quarter revenues in Q1 2023 will surpass a
Dennis P. Calvert, President and CEO of BioLargo commented, "The lion's share of the recent revenue increases is due to the ongoing growth of Pooph sales led by our partners at Ikigai Marketing Works, whom we applaud for their success in expanding the product's adoption in retail outlets across the country."
He continued, "We have many products and solutions in early stages of commercialization that we believe will contribute to revenue growth in future periods, such as our PFAS treatment solution, Clyra Medical's Bioclynse, and Garratt-Callahan's ‘minimal liquid discharge' industrial wastewater treatment system. Each of these initiatives continues to advance and we look forward to sharing more information as they each expand. We believe there is still plenty of opportunity for market penetration for the Pooph branded pet-odor control product, as well as the Company's other products and services."
The Company intends to hold an earnings conference call and webcast on April 3, 2023 at 1:30 PM Pacific Time. More details will be released prior to that date.
About BioLargo, Inc.
BioLargo, Inc. (OTCQB: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, 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") 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 the COVID-19 pandemic on the Company's business, results of operations, financial condition, and stock price; the effect of global, national and 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.
View source version on accesswire.com:
https://www.accesswire.com/744457/BioLargo-Continues-Record-Setting-Revenue-Growth
FAQ
What are BioLargo's Q1 2023 revenue expectations?
How does Q1 2023 revenue compare to Q1 2022 for BioLargo?
What is driving BioLargo's revenue growth?
When will BioLargo announce its 2022 financial results?
Is BioLargo profitable as of Q1 2023?
