BioLargo, Inc. reported a decline in financial performance for the first quarter of 2025, with total revenues of $3.27 million, a 31% decrease from $4.76 million in the same period of 2024. The drop was primarily attributed to a significant reduction in sales of its pet odor control product, Pooph, which accounted for 79% of the company's revenue. Product revenue fell by 39% to $2.80 million, while service revenue increased by 152% to $466,000, reflecting a shift in the company's revenue mix.
The company's gross profit for the quarter was $1.49 million, down from $2.25 million a year earlier. Total operating expenses rose to $3.35 million, compared to $3.01 million in the previous year, leading to an operating loss of $1.86 million, up from a loss of $763,000 in Q1 2024. The net loss attributable to common shareholders was $1.16 million, or $(0.004) per share, compared to a loss of $410,000, or $(0.001) per share, in the prior year.
In terms of operational developments, BioLargo's subsidiary ONM Environmental experienced a 39% revenue decline, primarily due to decreased sales of the Pooph product. Conversely, BLEST, another subsidiary, saw a 152% increase in revenue, driven by new contracts for air quality control services. The company reported a total of 44 full-time employees as of March 31, 2025, reflecting a strategic focus on expanding its workforce to support growth initiatives.
Looking ahead, BioLargo expressed concerns regarding its liquidity and capital resources, indicating that gross profits for the year ending December 31, 2025, may not be sufficient to sustain current operations. The company reported current assets of $7.22 million, including $2.56 million in cash, and current liabilities of $3.37 million. BioLargo anticipates needing additional investment capital to fund its business plans and technology investments, raising substantial doubt about its ability to continue as a going concern without increased revenues or successful financing activities.
About BIOLARGO, INC.
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