BioLargo Sets New Quarterly Revenue Record
BioLargo, Inc. (OTCQB:BLGO) reported approximately $1.3 million in revenue for Q2 2022, a 37% increase from Q1 and a 185% increase compared to Q2 2021. The company attributes this growth to expanding sales of the POOPH product, the anticipated launch of PFAS treatment technology, and larger engineering projects. The revenue figures are preliminary and may change pending accounting review. Full results will be available in the quarterly report due by August 15, 2022. An investor webcast will follow the report's release.
- New quarterly revenue record of approximately $1.3 million.
- 37% growth in Q2 revenue compared to Q1 2022.
- 185% growth in Q2 revenue compared to Q2 2021.
- Expansion of sales expected with POOPH product launch.
- Anticipated launch of proprietary PFAS treatment technology.
- Increased engagement in large engineering projects.
- Revenue figures are preliminary and subject to change.
- Dependence on successful product launches and engineering project expansions for future growth.
Quarterly Revenues in Q2 Grew
WESTMINSTER, CA / ACCESSWIRE / August 3, 2022 / BioLargo, Inc. (OTCQB:BLGO), a developer of sustainable cleantech technologies and full-service environmental engineering company, today announced that it has set a new quarterly revenue record, and provided a snapshot of the improving financial results of its environmental technology subsidiaries.
The company's President and CEO Dennis P. Calvert said, "While we are pleased with our financial results from this quarter, we believe this is just the start of dramatic growth for our company, driven by (i) the expanded sales and expected retail launch of POOPH by our white-label pet odor control partners at Ikigai, (ii) the anticipated launch of our proprietary PFAS treatment technology, as well as the wastewater treatment product developed in partnership with Garratt-Callahan, and (iii) the expansion of big engineering projects like the waste-to-energy conversion plant project in South America."
He continued, "It is also worth mentioning that our project to help a national nuclear fuel innovator develop prototype production systems is expected to expand over the coming months following a successful first phase of our contract." You can read more about this project in the original press release, linked here: https://biolargo.blogspot.com/2022/06/biolargo-engineering-science.html.
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About BioLargo, Inc.
BioLargo, Inc. (OTCQB:BLGO) invents, develops, and commercializes innovative technologies in the cleantech space, including for PFAS contamination, advanced water and wastewater treatment, industrial odor and VOC control, air quality control, and infection control. With over 13 years of extensive R&D, BioLargo holds a wide array of issued patents, maintains a robust pipeline of products, and provides full-service environmental engineering. Our approach is to invent or acquire novel technologies and develop them to maturity through our operating subsidiaries. We have developed a number of key channel partnerships to support the reach of our products and services and maximize their commercial potential. With a keen emphasis on collaborations with academic, municipal, and commercial organizations and associations, BioLargo has proven itself with over 80 awarded grants and numerous pilot projects. We monetize through direct sales, recurring service contracts, licensing agreements, strategic joint venture formation and/or the sale of the IP. 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, and may be identified by words such as "we believe". 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 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.
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