FSI ANNOUNCES RECORD Q4 AND FULL YEAR 2022 REVENUE

Rhea-AI Summary

Flexible Solutions International (NYSE: FSI) reported a notable revenue increase for Q4 and full-year 2022. Q4 revenue surged to $12.1 million, a 34% rise from $9.04 million in Q4 2021. Full-year revenue improved from $34.4 million in 2021 to $45.7 million in 2022, reflecting a 33% increase. The CEO, Dan O’Brien, attributed this growth to the collective efforts of the team. Detailed financial results will be available on March 31, 2023, with a conference call set for April 3, 2023.

Positive

• Q4 2022 revenue increased by 34% year over year, reaching $12.1 million.
• Full-year revenue rose by 33%, from $34.4 million in 2021 to $45.7 million in 2022.
• Growth experienced across all quarters of 2022 and all market segments.

Negative

• None.

VICTORIA, BRITISH COLUMBIA, Jan. 12, 2023 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces a year over year increase in revenue for both fourth quarter (Q4) and full year, 2022.

Sales were significantly higher in Q4, 2022 compared to Q4, 2021. Flexible Solutions’ top line revenue increased from $9.04 million (Q4, 2021) to $12.1 million (Q4, 2022), up approximately 34% year over year. FSI experienced growth across all quarters of 2022 and in all market segments. Full year revenue increased from $34.4 million in 2021 to $45.7 million in 2022, a full year increase of 33%.

Mr. Dan O’Brien, CEO, comments, “This level of growth, sustained over an entire year, can only happen when every person in the Company does their best. I’m proud of what we have achieved together.”

Complete financial results will be available on March 31, 2023 concurrent with the Company’s SEC Full year filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, the following business day, Monday, April 3, 2023. See the FSI March 31, 2023 financials news release for the dial in numbers.

About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavr^TM, the world’s first commercially viable water evaporation retardant. WaterSavr^TM reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Heatsavr^TM, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.

Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Flexible Solutions International
6001 54^th Ave, Taber, Alberta, CANADA T1G 1X4

Company Contacts

Jason Bloom
Toll Free: 800.661.3560
Fax: 403.223.2905
Email: info@flexiblesolutions.com

To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com

If you have received this news release by mistake or if you would like to be removed from our update list please reply to: info@flexiblesolutions.com

FAQ

What were the financial results for Flexible Solutions International (FSI) in Q4 2022?

In Q4 2022, FSI reported revenue of $12.1 million, a 34% increase compared to $9.04 million in Q4 2021.

How did FSI's full-year revenue change from 2021 to 2022?

FSI's full-year revenue grew from $34.4 million in 2021 to $45.7 million in 2022, marking a 33% increase.

When will Flexible Solutions release its complete financial results for 2022?

The complete financial results will be available on March 31, 2023.

When is the FSI conference call scheduled?

The FSI conference call is scheduled for April 3, 2023, at 8:00 am Pacific Time.