FSI Announces Third Quarter, 2022 Revenue

Rhea-AI Summary

Flexible Solutions International (NYSE-AMERICAN: FSI) reported a 27% increase in revenue for Q3 2022, rising to $11.683 million from $9.214 million in Q3 2021. This growth reflects the company's strong performance in biodegradable polymers for oil extraction, water treatment, and energy conservation technologies. Full financial results will be released on November 14, 2022, alongside an SEC filing. A conference call is scheduled for November 15.

Positive

• Revenue increased 27% from $9.214 million (Q3 2021) to $11.683 million (Q3 2022).

Negative

• None.

VICTORIA, BRITISH COLUMBIA, Oct. 19, 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 revenue for third quarter (Q3), 2022.

Sales were higher in Q3, 2022 compared to Q3, 2021. Flexible Solutions’ top line revenue increased from $9.214 million (Q3, 2021) to $11.683 million (Q3, 2022), up approximately 27% year over year.

Complete financial results will be available on November 14, 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, the following business day, Tuesday, November 15. See the FSI November 14, 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: 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 was Flexible Solutions International's revenue for Q3 2022?

Flexible Solutions International reported revenue of $11.683 million for Q3 2022.

How much did Flexible Solutions International's revenue increase compared to Q3 2021?

Revenue increased by approximately 27% compared to Q3 2021.

When will Flexible Solutions International release its full financial results?

The full financial results will be available on November 14, 2022.

When is the conference call for Flexible Solutions International's Q3 results?

The conference call is scheduled for November 15, 2022, at 8:00 am Pacific Time.