FSI ANNOUNCES SECOND QUARTER 2023 REVENUE

Rhea-AI Summary

Flexible Solutions International, Inc. (FSI) has announced its top line revenue for the second quarter of 2023. Sales decreased by approximately 7% compared to the same period last year, with revenue dropping from $11.165 million in Q2 2022 to $10.330 million in Q2 2023. Complete financial results will be available on August 14, 2023, and a conference call is scheduled for August 15, 2023.

VICTORIA, BRITISH COLUMBIA, July 17, 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 top line revenue for second quarter (Q2), 2023.

Sales were lower in Q2, 2023 compared to Q2, 2022. Flexible Solutions’ top line revenue decreased from $11.165 million (Q2, 2022) to $10.330 million (Q2, 2023), down approximately 7% year over year.

Complete financial results will be available after market close on Monday, August 14, 2023, concurrent with the Company’s SEC second quarter filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, the following business day, Tuesday, August 15, 2023. See the FSI August 14, 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 is the company name mentioned in the press release?

The company mentioned in the press release is Flexible Solutions International, Inc. (FSI).

What does FSI develop and manufacture?

FSI develops and manufactures biodegradable polymers for oil extraction, detergent ingredients, water treatment, and crop nutrient availability chemistry. They also manufacture biodegradable and environmentally safe water and energy conservation technologies.

What is the revenue for Q2 2023 compared to Q2 2022?

The revenue for Q2 2023 decreased by approximately 7% compared to Q2 2022. It dropped from $11.165 million to $10.330 million.

When will the complete financial results be available?

The complete financial results will be available after market close on Monday, August 14, 2023.

When is the scheduled conference call?

The scheduled conference call is on Tuesday, August 15, 2023, at 8:00 am Pacific Time and 11:00 am Eastern Standard Time.