BioLargo - Firing on all cylinders
BioLargo reported $666,000 in total Q320 sales (+24.7% y-o-y), a new record, a $1.9m operating loss (flat year-on-year) and a $2.39m net loss (from $3.89m in Q319). It had $356,000 in Q320 sales from ONM Environmental, down 10% from Q319, but the division recovered significantly since the start of the pandemic (up 19% from Q120). Sequentially, companywide revenue growth was up 56% over Q220, a strong bounce back from COVID-19 disruptions, and total sales are up 15% for 9M20 to $1.52m. BioLargo also announced that BioLargo Water is ready for commercial operations and we expect to see an increased sales effort.
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