Quarterly revenues in Q2 grew 37% compared to Q1, and
185% compared to Q2 of 2021.
Westminster, CA – August 3, 2022 – BioLargo, Inc.
(OTCQB:BLGO), a developer of sustainable cleantech technologies and
full-service environmental engineering company, today announced that it has set
a new quarterly revenue record, and provided a snapshot of the improving
financial results of its environmental technology subsidiaries.
The company’s President and CEO Dennis P. Calvert said, “While
we are pleased with our financial results from this quarter, we believe this is
just the start of dramatic growth for our company, driven by (i) the expanded
sales and expected retail launch of POOPH by our white-label pet odor control
partners at Ikigai, (ii) the anticipated launch of our proprietary PFAS
treatment technology, as well as the wastewater treatment product developed in
partnership with Garratt-Callahan, and (iii) the expansion of big engineering
projects like the waste-to-energy conversion plant project in South America.”
He continued, “It is also worth mentioning that our project
to help a national nuclear fuel innovator develop prototype production systems is
expected to expand over the coming months following a successful first phase of
our contract.” You can read more about this project in the original press
release, linked here: https://biolargo.blogspot.com/2022/06/biolargo-engineering-science.html.
BioLargo generated approximately $1.3 million in company-wide
revenue for the second quarter of 2022, representing a 37% increase compared with
the first quarter of 2022, and a 185% increase compared with the second quarter
of 2021. Note, however, that these revenue figures are preliminary, have not
been reviewed and are subject to change pending review by the company’s
independent registered public accounting firm. The company will include its
full results of operations in its quarterly report for the period ended June
30, 2022, due to be filed with the SEC by August 15, 2022. The company also
intends to hold an investor webcast and conference call shortly after the filing
of its quarterly report to discuss its financial results, and will provide
details for participating in this event as soon as its available.
About BioLargo, Inc.
BioLargo, Inc. (OTCQB:BLGO) invents, develops, and
commercializes innovative technologies in the cleantech space, including for PFAS
contamination, advanced water and wastewater treatment, industrial odor and VOC
control, air quality control, and infection control. With over 13 years of
extensive R&D, BioLargo holds a wide array of issued patents, maintains a
robust pipeline of products, and provides full-service environmental
engineering. Our approach is to invent or acquire novel technologies and
develop them to maturity through our operating subsidiaries. We have developed
a number of key channel partnerships to support the reach of our products and
services and maximize their commercial potential. With a keen emphasis on
collaborations with academic, municipal, and commercial organizations and
associations, BioLargo has proven itself with over 80 awarded grants and
numerous pilot projects. We monetize through direct sales, recurring service
contracts, licensing agreements, strategic joint venture formation and/or the
sale of the IP. See our website at www.BioLargo.com.
Contact Information
Dennis P. Calvert
President and CEO, BioLargo, Inc.
888-400-2863
Safe Harbor Act
This press release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include without limitation those about
BioLargo’s (the “Company”) expectations regarding anticipated revenue and plans
for future operations, and may be identified by words such as “we believe”.
These statements involve risks and uncertainties, and actual results may differ
materially from any future results expressed or implied by the forward-looking
statements. Risks and uncertainties include without limitation: the effect of
the COVID-19 pandemic on the Company’s business, results of operations,
financial condition, and stock price; the effect of global and regional
economic conditions on the Company’s business, including effects on purchasing
decisions by consumers and businesses; the ability of the Company to compete in
markets that are highly competitive and subject to rapid technological change;
the ability of the Company to manage frequent introductions and transitions of
products and services, including delivering to the marketplace, and stimulating
customer demand for, new products, services, and technological innovations on a
timely basis; the dependency of the Company on the performance of distributors
of the Company’s products. More information on these risks and other potential
factors that could affect the Company’s business and financial results is included
in the Company’s filings with the SEC, including in the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and Results of
Operations” sections of the Company’s most recently filed periodic reports on
Form 10-K and Form 10-Q and subsequent filings. The Company assumes no
obligation to update any forward-looking statements or information, which speak
as of their respective dates.
