FSI Announces Second Quarter, 2022 Revenue

Rhea-AI Summary

Flexible Solutions International (NYSE: FSI) reported a 30% year-over-year revenue increase for Q2 2022, with sales rising from $8.535 million in Q2 2021 to $11.125 million in Q2 2022. CEO Dan O’Brien expressed satisfaction with the revenue growth and optimism for the remainder of the year. Complete financial results will be available on August 15, 2022, aligning with the SEC quarterly filings. A conference call is scheduled for August 16, 2022, at 8:00 am PT.

Positive

• 30% increase in Q2 2022 revenue compared to Q2 2021.
• Sales rose from $8.535 million to $11.125 million.
• Positive outlook for continued revenue growth in H2 2022.

Negative

• None.

VICTORIA, BRITISH COLUMBIA, July 18, 2022 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI, FRANKFURT: FXT), 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 revenues for second quarter (Q2), 2022.

Sales were higher in Q2, 2022 compared to Q2, 2021. Flexible Solutions’ top line revenue increased from $8.535 million (Q2, 2021) to $11.125million (Q2, 2022), up approximately 30% year over year.

Dan O’Brien, CEO, states, “We are pleased with the Q2 revenue and with the year to date. We will do our best to continue in this positive trend for the second half of 2022.”

Complete financial results will be available on August 15, 2022 concurrent with the Company’s SEC quarterly filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, Tuesday, August 16. See the FSI August 15, 2022 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: 250.477.9912
Email: info@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
To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com

FAQ

What was Flexible Solutions International's revenue for Q2 2022?

Flexible Solutions International reported a revenue of $11.125 million for Q2 2022.

How much did revenue increase for Flexible Solutions International in Q2 2022?

The revenue increased by approximately 30% year-over-year.

When will Flexible Solutions International release its complete financial results?

The complete financial results will be available on August 15, 2022.

When is the conference call scheduled for Flexible Solutions International?

The conference call is scheduled for August 16, 2022, at 8:00 am PT.

What is the stock symbol for Flexible Solutions International?

The stock symbol for Flexible Solutions International is FSI.