The company brought in revenue of $426,000, a 30% jump from the same period a year ago. In particular, sales of CupriDyne Clean, BioLargo’s industrial odor eliminator, increased 31% year-over-year.
Its net loss came in at $1.9 million, cutting its 2018 second-quarter net loss nearly in half, to $3.6 million.
Also in the quarter, BioLargo secured $2.6 million in new capital and refinanced more than $1.3 million in liabilities.
Its subsidiary, BioLargo Engineering, Science & Technologies (BLEST), was awarded multi-year contracts from the US Air Force to provide air quality services at seven bases.
Odor-No-More Inc, which makes CupriDyne, added 27-year waste handling industry veteran Mitch Noto to its team.
“We are often complimented that it is rare to see a company with so many important and financially significant opportunities all breaking through at the same time,” said BioLargo CEO Dennis Calvert.
“Both our engineering team at BLEST and our Odor-No-More team are heading into more predictable growth cycles. The new contracts for BLEST to serve the USAF are significant, and we expect to win more soon. The addition of Mitch Noto to our team will help us organize to grow and serve the largest companies in the waste handling industry with the #1 product and services.”
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel