Flexible Solutions International, Inc. - FSI STOCK NEWS

Flexible Solutions International (NYSE: FSI) has announced the termination of its Merger Agreement with Lygos Inc. on September 30, 2022. Despite this setback, both companies remain dedicated to collaborating on the development of sustainable aspartic acid and biodegradable products derived from it. FSI, based in Victoria, British Columbia, specializes in biodegradable polymers for various applications including oil extraction and water treatment. The company continues to focus on innovation in environmental technologies.

Flexible Solutions International reported strong Q2 2022 results, with sales reaching $11,165,143, up from $8,535,451 in Q2 2021. The net profit was $1,662,454 or $0.13 per share, compared to $1,176,761 or $0.10 per share year-over-year. Operating cash flow for the first half of 2022 was $4,560,754, an increase from $3,293,783 in the prior year. The CEO emphasized their commitment to maintaining growth momentum in the coming quarters.

Flexible Solutions International (FSI) has filed a registration statement with the U.S. SEC on July 25, 2022, regarding its planned all-stock merger with Lygos. This merger aims to create a leading sustainable specialty ingredient company, backed by a $160 million growth capital investment in Lygos. Both companies' boards have unanimously approved the agreement, which requires shareholder approval and satisfaction of customary closing conditions. The merger is expected to enhance FSI's biodegradable product offerings using Lygos' fermentation technology.

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.

Flexible Solutions International (NYSE-American: FSI) has achieved food grade compliance at its NanoChem facility in Peru, Illinois, after significant effort over the last 18 months. CEO Dan O'Brien emphasized the importance of this achievement for their expanding toll spray drying services. The company believes that this compliance opens up growth opportunities in a specialized industrial sector. Flexible Solutions specializes in biodegradable polymers and has a diverse range of products targeting environmental technology and crop enhancement.

Flexible Solutions International (FSI) reported strong Q1 2022 financial results, with sales increasing to $10,783,280 from $7,624,607 in Q1 2021. The net profit stood at $1,533,059, or $0.12 per share, which is consistent with the previous year's profit. Operating cash flow improved to $2,467,625 ($0.20 per share) from $1,429,112 ($0.12 per share) in 2021. CEO Daniel B. O’Brien mentioned ongoing challenges in international shipping, yet expressed a positive outlook for the next quarter.

Flexible Solutions International (NYSE-AMERICAN: FSI) announced a year-over-year revenue increase of approximately 41% for Q1 2022, with sales rising from $7.625 million in Q1 2021 to $10.783 million in Q1 2022. CEO Dan O'Brien noted that most of this increase comes from new business ventures, with the prior year’s delays also contributing to the growth. The complete financial results are expected on May 16, 2022, with a conference call scheduled for May 17, 2022.

Flexible Solutions International, Inc. (FSI) and Lygos, Inc. have announced a definitive all-stock merger agreement following a $160 million investment in Lygos to scale production. The merger aims to integrate their technologies to meet rising demand for sustainable chemical ingredients. The agreement has gained unanimous approval from both companies' boards and is expected to close in Q3 2022, pending stockholder approval. The merger positions FSI to enhance its biodegradable product offerings, with Lygos’ CEO set to lead the combined entity.

Flexible Solutions International (FSI) reported strong financial results for the year ended December 31, 2021, with revenues reaching $34.42 million, a 10% increase from the previous year. The net profit also rose by 16% to $3.45 million or $0.28 per share. Operating cash flow increased by 24% to $5.65 million. The company anticipates further growth in 2022, supported by new customer engagements and product introductions, despite facing significant increases in shipping costs and raw material prices.