Tue, May 14, 8:57 PM (73 days ago)
**Abstract:** For the quarter ended March 31, 2024, BioLargo, Inc. reported a significant increase in revenues, primarily driven by the sales of its pet odor product under the Pooph brand, which comprised 88% of total revenue. The company recorded a 27% increase in total revenue to $4.76 million compared to the same period in 2023. However, the net loss widened to $775,000 from $494,000 in the previous year, attributed to increased selling, general, and administrative expenses, and higher research and development costs. ONM Environmental, a subsidiary, saw a 29% revenue increase to $4.58 million, though its cost of goods sold rose to 53% of revenue due to higher raw material costs. BioLargo Engineering, Science & Technologies (BLEST) experienced a revenue decline due to a focus on internal projects, while its operating loss increased to $445,000. Clyra Medical and BioLargo Energy Technologies (BETI) generated no revenue, with ongoing investment in product development. The company raised $1.08 million through stock sales, including $260,000 from Lincoln Park Capital Fund. Despite generating positive cash flow from operations, BioLargo remains heavily reliant on external funding, raising concerns about its ability to continue as a going concern without further capital investment.