BioLargo - A record-setting year
BioLargo reported record revenue of $1.86m for 2019, a 36% increase over 2018 and a record single quarter revenue of over $560,000 for Q4. Odor-no-More (ONM) had its best year to date with $1.46m in revenue ($832,000 gross profit). However, ONM fell short of its goal of breaking even for the year with a loss of $337,000 (albeit improved from the 2018 $433,000 loss) due to increased headcount for future growth. The company noted that in 2020 it will focus on increasing sales through improved distribution and strategic alliances and will keep its headcount constant. This will be supported by a new $10m equity facility from Lincoln Park.
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