BioLargo, Inc. (OTCQX:BLGO), recognized for the creation of innovative sustainable technologies, has announced a comprehensive review of its performance in 2024 along with an ambitious outlook for 2025. The company has experienced significant revenue growth while maintaining zero share dilution during the second half of the year.
Dennis P. Calvert, President and CEO of BioLargo, highlighted the company’s transformative journey throughout 2024. “Our success is attributed to the unwavering support from our shareholders, partners, and dedicated teams,” he stated. The previous year marked a pivotal moment for BioLargo as it solidified its position as a leader in cleantech innovation.
A standout product, Pooph, which focuses on pet odor control, exemplifies BioLargo’s business strategy of developing technology and partnering with industry experts. This collaboration led to the launch of eight unique products available through major retailers like Amazon and Walmart. Pooph significantly contributed to the company’s revenue in 2024.
In addition to Pooph, BioLargo made notable advancements across its medical, equipment, and energy divisions. The subsidiary Clyra Medical dedicated substantial resources to prepare its Bioclynse wound irrigation solution for surgical applications, investing over $2 million to ensure compliance with FDA manufacturing standards.
BioLargo’s battery technology subsidiary also achieved milestones by completing its pilot manufacturing facility and successfully producing prototype cells. These liquid-sodium batteries present a safer alternative to traditional lithium cells, eliminating risks associated with runaway fires and toxic materials. The company plans to scale up production and seek global manufacturing partnerships in 2025.
The company’s water treatment technologies progressed significantly in 2024, securing its first commercial project aimed at treating PFAS contaminants—substances often referred to as “forever chemicals.” The installation is expected to be operational in early 2025, which could enhance BioLargo’s reputation as a leader in economical water treatment solutions.
Calvert emphasized the importance of financial responsibility and operational efficiency in maximizing shareholder value while driving innovation.
In 2024, the company’s financial highlights showcased significant growth, with stock performance rising from $0.17 at the end of 2023 to a peak of $0.45, currently stabilizing at $0.30. Cash reserves increased from $3.5 million at the end of 2023 to $3.9 million by the third quarter of 2024, while shareholders’ equity improved from $4.2 million to $6 million during the same period. The company also successfully uplisted from OTCQB to OTCQX Best Market, demonstrating its ability to meet high financial standards. Additionally, in the second half of 2024, there was a reduced reliance on investor capital due to increased operational gross profits, achieved without common stock sales.
With a solid foundation established in 2024, BioLargo is poised for further growth in 2025, as management has outlined several key objectives. The company plans to pursue uplisting to a national stock exchange, such as NASDAQ or NYSE, while continuing to grow top-line revenues and maintain its historical growth rates. Additionally, BioLargo aims to launch Bioclynse for surgical use through a leading distribution partner and complete the installation of its PFAS treatment system in New Jersey, expanding sales of these systems. The development of commercial-sized Cellinity battery cells and packs will also be finalized, with performance claims being validated. Finally, the company intends to support the growth trajectory of its Pooph product line, which has shown significant revenue potential.
BioLargo’s commitment to innovation and sustainability positions it well for another record-setting year ahead as it seeks to enhance its commercialization efforts across various sectors.
