BioLargo, Inc. reported a significant decline in financial performance for the first quarter of 2026, with total revenues of $1.115 million, a decrease of 66% compared to $3.269 million in the same period of 2025. The drop in revenue was primarily attributed to the cessation of sales to Pooph Inc., which had previously accounted for 79% of the company's revenue. Product revenue fell by 79% to $577,000, while service revenue increased by 15% to $538,000. The company recorded a net loss of $3.405 million, compared to a net loss of $1.921 million in the prior year, resulting in a loss per share of $0.01.
In terms of operational changes, BioLargo's subsidiary ONM Environmental experienced an 85% decline in revenue, largely due to the loss of sales to Pooph. However, sales of industrial odor control products increased by 90%. The company also reported an increase in selling, general, and administrative expenses, which rose to $2.755 million, up 9% from the previous year. This increase was driven by higher salaries, professional fees, and insurance costs. Research and development expenses also rose by 15% to $907,000, reflecting ongoing investments in technology development.
BioLargo's balance sheet as of March 31, 2026, showed total assets of $8.565 million, up from $8.311 million at the end of 2025. Current assets increased to $5.445 million, including $4.122 million in cash and cash equivalents. Current liabilities were reported at $4.932 million, resulting in working capital of $513,000. The company noted that it does not expect gross profits for the remainder of 2026 to be sufficient to fund its operations, indicating a need for additional investment capital.
Strategically, BioLargo has entered into a purchase agreement with Clearthink Capital Partners, allowing the company to sell up to $10 million in common stock over a three-year period. This agreement is expected to provide necessary funding for ongoing operations and technology development. Additionally, Clyra Medical, a partially owned subsidiary, has begun generating revenue from its ViaCLYR wound management product, marking a new revenue stream for the company.
Looking ahead, BioLargo faces challenges in increasing revenues and managing cash flow. The company has expressed concerns about its ability to continue as a going concern unless it can secure additional funding or increase operational revenues. Management is focused on exploring new partnerships and opportunities to enhance its market position and financial stability.
About BIOLARGO, INC.
BioLargo, Inc. develops and commercializes innovative cleantech solutions addressing environmental and health challenges. Its core businesses include industrial and consumer odor and VOC control products, advanced water treatment systems targeting contaminants like PFAS and micropollutants, long-duration battery energy storage technologies, and antimicrobial medical devices. Operating through specialized subsidiaries, BioLargo serves municipal, industrial, and healthcare markets by delivering patented, energy-efficient, and environmentally sustainable technologies supported by engineering services.
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