BioLargo Inc. (BLGO:OTCQX), which develops and commercializes sustainable technologies for environmental and cleantech challenges, has filed its financial results for the three and six months ended June 30, according to an August 17 release.
The company will hold a stockholder town hall on Thursday, September 10, at 1 p.m. PT; the complete filing is available on its website.
"Setting aside the Pooph-related product line we exited last August, revenue grew approximately 26% year over year through six months, and 12% sequentially from the first to second quarter," BioLargo President and Chief Executive Officer Dennis P. Calvert said. "Second quarter gross margin reached 54%. We ended the quarter with US$2.2 million in cash. We had two ways to fund the businesses this year, sell BioLargo common stock, or raise capital inside the businesses doing the work and stand behind it. We chose the second and as a result 86% of the capital we raised in the first half was raised inside our subsidiaries rather than by selling BioLargo stock."
Calvert continued, "This helped us to advance five distinct businesses: medical device products, water treatment, industrial and consumer odor control, energy storage, and engineering services. Two opportunities are closest to commercial inflection: launching Clyra's flagship products across the United States and relaunching our consumer products. The other three, our water treatment, energy storage, and engineering businesses, are advancing toward scale through strategic alliances and dedicated capital. Our September 10 town hall will detail each of the five businesses, including the progress made and the milestones ahead."
Second-quarter revenue was US$1.248 million, up 12% from US$1.115 million in the first quarter but down 55% from US$2.777 million a year earlier, a drop driven mainly by exiting the private-label "Pooph" pet odor-control line in August 2025. Excluding Pooph, first-half revenue rose 26%, to US$2.363 million from about US$1.874 million a year earlier.
Clyra Medical contributed US$154,000 of first-half revenue, and consolidated service revenue rose 10%. Second-quarter gross margin improved to 54% from 51% a year earlier, helped by shedding low-margin private-label sales and stronger cost control at ONM Environmental, where cost of goods sold fell to 37% of revenue from 45%. First-half gross margin held at 48%, roughly flat year over year.
The second-quarter net loss widened to US$4 million from US$1.882 million a year earlier. Clyra Medical accounted for US$2.375 million, or 59%, of the consolidated quarterly loss, and about 48% of combined SG&A and R&D expense in the first half. Because BioLargo holds a 48% interest in Clyra, a meaningful portion of that loss is attributable to Clyra's minority investors rather than to BioLargo stockholders.
About 86% of first-half capital came through the subsidiaries rather than BioLargo share sales: Clyra raised US$3.395 million in debt and BioLargo Energy Technologies US$487,000 in equity, versus US$647,000 from selling BioLargo stock. Tied to these and notes issued in 2025, BioLargo had guaranteed US$3.97 million of Clyra promissory notes as of June 30. The approach trades equity dilution at the parent for contingent credit exposure.
At June 30, total assets were US$6.669 million (including US$3.499 million of current assets and US$2.188 million of cash), against US$4.765 million in current liabilities — a working capital deficit of US$1.266 million.
Management said it will keep pursuing subsidiary-level financing where practical, and pointed stockholders to the full liquidity discussion in the company's 10-Q.
Clyra and ViaCLYR™ Leading the Way
BioLargo is advancing several business platforms toward commercialization, led by Clyra Medical Technologies. Clyra's ViaCLYR™ copper-iodine solution is FDA-cleared under Section 510(k) specifically as a wound-irrigation solution for acute and chronic wounds — not for surgical or other applications, which the company is pursuing separately. ViaCLYR landed its first U.S. distributor order in February 2026 and an 18-country distribution deal with Dubai's Al-Hikma FZCO in May, and it booked US$154,000 in first-half revenue. Its next product, the surgical-irrigation solution Bioclynse, is slated to launch through a national distribution counterparty — extending the technology toward surgical use.
On the consumer side, the newly formed BioLargo CPG LLC plans an October relaunch of CupriDyne®-based household products, this time with BioLargo owning the brand and controlling the chain end to end, after the Pooph, Inc. license was revoked in September 2025. Its ONM Environmental unit keeps selling CupriDyne Clean and the equipment used to deploy it to municipalities, landfills and industrial customers, supported by recurring Southern California contracts.
BioLargo Engineering, Science & Technologies (BLEST) generated US$1.888 million in first-half revenue — including roughly US$100,000 a month from U.S. Air Force air-quality work — and won a US$1.2 million contract in April to design a mineral-waste remediation pilot in the western U.S. In water treatment, BioLargo's Aqueous Electrostatic Concentrator has run at Lake Stockholm, New Jersey, for more than six months (10,000-plus hours), removing PFAS to non-detect levels under EPA and state testing. And BioLargo Energy Technologies is developing Cellinity, a long-duration liquid-sodium battery built on abundant domestic materials with a projected 20-plus-year life — now in customer and financing talks, but with no signed contracts or revenue yet.
"We have important milestones that we expect to accomplish over the next six to nine months," Calvert said, pointing to the fall consumer-products launch, Al-Hikma's first orders, Bioclynse's rollout, authorization to build the minerals-processing commercial pilot, and a commercial agreement for its water-treatment or battery technology. "If those things happen, the thesis is working. If any of them do not, we will say so plainly and tell you why."
BioLargo will hold its stockholder town hall on September 10, 2026, at 1 p.m. Pacific (4 p.m. Eastern), where management plans to review second-quarter results and commercialization across its medical, water-treatment, odor-control, energy-storage and engineering businesses.
Expert: Portfolio Spans Several Cleantech Categories
1Technical Analyst John Newell of John Newell & Associates highlighted BioLargo's healthcare operations through its subsidiary, Clyra Medical Technologies, in a March 11 report for Streetwise Reports. Newell said BioLargo has taken a deliberate path toward commercialization by first subjecting its proprietary technologies to extensive scientific validation and then working with established partners to expand their market reach. He noted that the company's portfolio spans water treatment, environmental remediation, air-quality solutions, energy storage and medical applications.
Newell identified Clyra as one of BioLargo's key healthcare assets, citing its copper-iodine technology, which has an antimicrobial component that functions as a preservative in the solution without causing cytotoxic effects. Newell also highlighted ViaCLYR's FDA 510(k) clearance, which allows the product to enter established medical-device distribution channels, while noting that the underlying platform is backed by approximately 40 issued and pending patents covering liquid, powder, hydrogel and antimicrobial dressing products.
Based on the potential of BioLargo's different technology platforms, Newell gave the company a Speculative Buy rating. He said the company's cautious commercialization model and emphasis on strategic partnerships could allow it to benefit from growing demand for advanced medical technologies and sustainable energy-storage solutions.
Oak Ridge Financial Analyst Richard Ryan described BioLargo's operating model in a May 18 report as a "hub and spoke format invent/acquire a product, prototype/prove it out, partner with necessary third parties, and commercialize." Ryan maintained his Buy rating, arguing that BioLargo's use of independent operating subsidiaries to commercialize its technologies spreads risk while allowing the company to retain significant ownership positions in businesses pursuing opportunities across several rapidly expanding markets.
Catalysts: Addressing Growing Markets
The worldwide wound care market is projected to grow from US$22.22 billion in 2025 to US$30.48 billion by 2030, reflecting a 6.5% CAGR, according to MarketsandMarkets. The research firm attributed the anticipated expansion to increasing chronic disease rates, more traumatic injuries and burns, and the growing healthcare requirements of an aging population. As healthcare systems, insurers and manufacturers seek better patient outcomes while containing long-term expenses, wound management is becoming a greater priority across hospitals, outpatient clinics, home-care providers and long-term care settings.
MarketsandMarkets also expects demand for wound care products to rise as healthcare providers encounter more chronic wounds, diabetic foot ulcers, pressure injuries, venous leg ulcers, surgical wounds and trauma-related wounds. The report noted that wounds that heal slowly can increase hospitalization expenses, consume additional healthcare resources and contribute to more frequent readmissions, making effective wound treatment both a medical priority and an important consideration for healthcare organizations seeking to control costs and improve operational efficiency.
The U.S. market for pet odor-control and cleanup products is expanding as rising pet ownership and increased consumer spending on animal care encourage greater demand for products that help maintain household cleanliness. Grand View Research valued the market at approximately US$6.47 billion in 2023 and projects it will reach about US$8.87 billion by 2030, indicating continued growth as manufacturers adapt their production strategies to serve the expanding opportunity.
Streetwise Ownership Overview*
BioLargo Inc. (BLGO:OTCQX)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 03/21/07 | NMED:OTCQX | 25 | BLGO:OTCQX | 1 |
| 11/20/02 | NWAY:OTCQX | 1 | NMED:OTCQX | 1 |
| 08/15/01 | LACI:OTCQX | 1 | NWAY:OTCQX | 1 |
"The increasing pet ownership and rising spending on pet care drive the market growth," Grand View said. "As more households in the U.S. welcome pets, the demand for products that maintain home hygiene and address pet-related odors has surged. Pet owners are more willing than ever to invest in high-quality solutions to manage pet waste and minimize unpleasant smells in their homes, fostering a strong demand for specialized odor control and clean-up products."
Grand View Research reported that 66% of U.S. households, representing 86.9 million homes, owned a pet in 2024, compared with 56% in 1988. The report also found that 97% of pet owners regarded their animals as family members, while 51% considered them equivalent to human family members, trends that are supporting continued demand for specialized odor-control and cleanup products.
"There has been a notable shift toward prioritizing home hygiene and cleanliness, especially in the wake of the COVID-19 pandemic," the report said. "Consumers are more aware of maintaining cleaner living environments, particularly in homes with pets. The concern over potential health issues from lingering pet odors and messes has prompted an increasing number of pet owners to adopt regular cleaning practices."
Ownership and Share Structure2
About 13.73% of BioLargo is owned by insiders and management. About 0.04% is held by institutions with 13F-disclosed institutional holdings only. The rest is retail.
Its market cap is US$32.91 million, with about 328.73 million shares outstanding. It trades in a 52-week range of US$0.10 and US$0.23.
Common Investor Questions
What did BioLargo report? On August 17, 2026, BioLargo filed its financial results for the three and six months ended June 30. Second-quarter revenue was US$1.248 million — up 12% sequentially from US$1.115 million, but down 55% from US$2.777 million a year earlier — and second-quarter gross margin expanded to 54% from 51%. The company will hold a stockholder town hall on September 10.
What's the "86% without selling stock" story? CEO Dennis P. Calvert said the company chose to fund its businesses mostly from within rather than by diluting shareholders: about 86% of first-half capital was raised inside the subsidiaries rather than through BioLargo share sales. Clyra Medical raised US$3.395 million in debt and BioLargo Energy Technologies US$487,000 in equity, versus just US$647,000 from selling BioLargo stock.
What are BioLargo's five businesses? Medical device products (Clyra Medical), water treatment, industrial and consumer odor control, energy storage, and engineering services. Calvert said the two closest to commercial inflection are launching Clyra's flagship products across the U.S. and relaunching consumer products, while water treatment, energy storage, and engineering advance toward scale through partnerships and dedicated capital.
When is the town hall, and what will it cover? BioLargo will hold its stockholder town hall on September 10, 2026, at 1 p.m. Pacific (4 p.m. Eastern), where management plans to review second-quarter results and detail commercialization progress and milestones across its medical, water-treatment, odor-control, energy-storage, and engineering businesses.
| Want to be the first to know about interesting Cleantech, Technology, Healthcare Services and Special Situations investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. | Subscribe |
Important Disclosures:
- BioLargo Inc. is a billboard sponsor of Streetwise Reports. The company pays a monthly sponsorship fee of US$3,000–US$6,000 for banner advertising and an enhanced company profile page. Streetwise Reports’ editorial content is fully independent and is not influenced by sponsorship.
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of BioLargo Inc.
- Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
For additional disclosures, please click here.
- Disclosure for the quote from the John Newell article published on March 11, 2026
- For the quoted article (published on March 11, 2026), BioLargo paid Street Smart, an affiliate of Streetwise Reports, US$2,550.
- Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
John Newell Disclaimer
As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.
- Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
