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BioLargo Inc (OTCMKTS:BLGO) Stock On Watchlist After Quarterly Report

Madison Hall , , , ,

Sustainable clean technology developer and full service environmental engineering company BioLargo Inc (OTCMKTS:BLGO) was one of the many companies which filed its quarterly report yesterday for the three months which ended on March 31, 2023.

Trading Data

On Wednesday, BLGO stock rose 0.63% to $0.1992 with 121.45K shares, compared to its average volume 249.42K shares. The stock moved within a range of $0.1941 – 0.2015 after opening trade at $0.1980.

BioLargo Announces 288% Revenue Growth in Quarterly Report

It could be a good move for investors to take a look into some of the highlights from the financial results so as to make their minds up about the performance from BioLargo. The company generated consolidated revenues of $3742000 for the quarter, which worked out to a year on year rise of a staggering 288%. On a sequential basis, it worked out to a rise of 78%.

The net losses for the quarter stood at $494000 but it should also be noted that it reflected a reduction of as much as 68% year on year and that was certainly a positive. At the end of the quarter, BioLargo had a cash balance of $3,264,000 and that was much higher than the cash balance of $1,851,000 at the end of the quarter on December 31, 2022. As an aside, the company’s Chief Executive Officer and President Dennis P Calvert noted that he was confident about the long term success of Pooph, the company’s pet odor control partnership.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.