FSI ANNOUNCES THIRD QUARTER 2024 REVENUE

Rhea-AI Summary

Flexible Solutions International, Inc. (NYSE-AMERICAN: FSI), a developer and manufacturer of biodegradable polymers and environmentally friendly technologies, has announced its Q3 2024 revenue. The company reported a 6.5% year-over-year increase in top-line revenue, rising from $8.721 million in Q3 2023 to $9.287 million in Q3 2024.

FSI specializes in products for oil extraction, detergent ingredients, water treatment, crop nutrient availability, nutraceuticals, and water and energy conservation. The complete financial results will be available after market close on November 14, 2024, coinciding with the company's SEC filings. A conference call is scheduled for November 15, 2024, at 8:00 am Pacific Time (11:00 am Eastern Standard Time) to discuss the results.

Positive

• Q3 2024 revenue increased by 6.5% year-over-year
• Top-line revenue grew from $8.721 million to $9.287 million

Negative

• None.

Insights

Financial Analyst

The Q3 2024 revenue report for Flexible Solutions International (FSI) shows a 6.5% year-over-year increase, with sales rising from $8.721 million in Q3 2023 to $9.287 million in Q3 2024. This moderate growth is positive, especially considering the challenging economic environment many companies are facing.

However, it's important to note that this is only top-line revenue. We don't have information on profitability, margins, or cash flow, which are important for a comprehensive financial assessment. The full financial results, including these key metrics, will be released on November 14, 2024.

For investors, this revenue growth is encouraging but not extraordinary. It suggests the company is maintaining its market position and potentially expanding slightly. The diversity of FSI's product portfolio, spanning biodegradable polymers, nutraceuticals and water conservation technologies, may be contributing to its resilience.

Investors should watch for the complete financial report to understand the company's profitability and overall financial health. Additionally, the upcoming conference call on November 15 will be important for gaining insights into management's perspective on the results and future outlook.

VICTORIA, BRITISH COLUMBIA, Oct. 17, 2024 (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 makes nutraceuticals, biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces top line revenue for third quarter (Q3), 2024.

Sales were up in Q3, 2024 compared to Q3, 2023. Flexible Solutions’ top line revenue increased from $8.721 million (Q3, 2023) to $9.287 million (Q3, 2024), up approximately 6.5% year over year.

Complete financial results will be available after market close on Thursday, November 14, 2024, 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, Friday, November 15, 2024. See the FSI November 14, 2024 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 FSI's revenue for Q3 2024?

FSI's revenue for Q3 2024 was $9.287 million, representing a 6.5% increase from Q3 2023.

When will FSI release its complete Q3 2024 financial results?

FSI will release its complete Q3 2024 financial results after market close on Thursday, November 14, 2024.

When is FSI's Q3 2024 earnings conference call scheduled?

FSI's Q3 2024 earnings conference call is scheduled for Friday, November 15, 2024, at 8:00 am Pacific Time (11:00 am Eastern Standard Time).

What products does Flexible Solutions International (FSI) develop?

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