Biolargo Financials
This page shows Biolargo (BLGO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
BioLargo’s growth model still depends on external funding because cash burn expanded faster than gross profit in FY2025.
FY2025 kept gross margin near prior levels at43.9% , but operating cash outflow widened to-$8.3M ; that says product-level economics were not the main break, while overhead and development spending were. Cash still ended the year at$3.9M because financing supplied$8.2M , so the steady cash balance hides a direct reliance on new capital.
From FY2022 through FY2024, losses were shrinking as revenue scaled, which suggested some fixed-cost absorption was finally appearing. That changed in the latest year: SG&A reached
Leverage rose as debt-to-equity moved from 0.1x to 0.5x, even though the company still remains more equity-funded than debt-funded. With
Financial Health Signals
We are recalculating Biolargo's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Biolargo passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Biolargo generates $0.55 in operating cash flow (-$8.3M OCF vs -$15.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Biolargo earns $-27.5 in operating income for every $1 of interest expense (-$14.9M vs $540K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Biolargo generated $7.8M in revenue in fiscal year 2025. This represents a decrease of 56.3% from the prior year.
Biolargo's EBITDA was -$14.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 249.5% from the prior year.
Biolargo reported -$15.2M in net income in fiscal year 2025. This represents a decrease of 249.4% from the prior year.
Cash & Balance Sheet
Biolargo held $3.9M in cash against $2.1M in long-term debt as of fiscal year 2025.
Margins & Returns
Biolargo's gross margin was 43.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the prior year.
Biolargo's operating margin was -191.3% in fiscal year 2025, reflecting core business profitability. This is down 166.9 percentage points from the prior year.
Biolargo's net profit margin was -195.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 171.2 percentage points from the prior year.
Biolargo's ROE was -375.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 326.7 percentage points from the prior year.
Capital Allocation
Biolargo invested $2.6M in research and development in fiscal year 2025. This represents a decrease of 10.0% from the prior year.
BLGO Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M+81.0% | $616K-44.2% | $1.1M-60.3% | $2.8M-15.1% | $3.3M-10.5% | $3.7M-16.0% | $4.4M-13.2% | $5.0M |
| Cost of Revenue | $657K+33.8% | $491K-32.8% | $731K-46.1% | $1.4M-23.9% | $1.8M-6.6% | $1.9M-27.5% | $2.6M-8.6% | $2.9M |
| Gross Profit | $458K+266.4% | $125K-66.4% | $372K-73.8% | $1.4M-4.5% | $1.5M-14.9% | $1.7M+1.5% | $1.7M-19.4% | $2.1M |
| R&D Expenses | $907K+39.1% | $652K+6.0% | $615K+15.0% | $535K-32.4% | $791K+0.8% | $785K+13.8% | $690K+10.8% | $623K |
| SG&A Expenses | $2.8M-20.6% | $3.5M+12.4% | $3.1M+14.9% | $2.7M+6.6% | $2.5M-2.2% | $2.6M+23.3% | $2.1M-12.9% | $2.4M |
| Operating Income | -$3.2M+20.1% | -$4.0M+44.1% | -$7.2M-298.4% | -$1.8M+3.2% | -$1.9M-15.2% | -$1.6M-52.4% | -$1.1M-19.2% | -$890K |
| Interest Expense | $188K-15.7% | $223K+54.9% | $144K+80.0% | $80K-14.0% | $93K+111.4% | $44K+238.5% | $13K+550.0% | $2K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$3.4M+17.8% | -$4.1M+42.8% | -$7.2M-284.9% | -$1.9M+2.0% | -$1.9M-10.9% | -$1.7M-63.4% | -$1.1M-35.9% | -$780K |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BLGO Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.6M+3.1% | $8.3M-9.0% | $9.1M-27.0% | $12.5M+18.9% | $10.5M0.0% | $10.5M+2.0% | $10.3M+2.5% | $10.1M |
| Current Assets | $5.4M+6.5% | $5.1M-11.4% | $5.8M-37.1% | $9.2M+27.3% | $7.2M+1.1% | $7.1M-3.5% | $7.4M+4.0% | $7.1M |
| Cash & Equivalents | $4.1M+6.2% | $3.9M-14.6% | $4.5M+31.0% | $3.5M+35.4% | $2.6M-27.7% | $3.5M-8.6% | $3.9M-18.5% | $4.8M |
| Inventory | $292K-5.8% | $310K-24.2% | $409K-7.9% | $444K+20.3% | $369K+11.8% | $330K+38.7% | $238K+35.2% | $176K |
| Accounts Receivable | $730K+18.7% | $615K-19.2% | $761K-56.1% | $1.7M-58.8% | $4.2M+32.8% | $3.2M-1.3% | $3.2M+52.5% | $2.1M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $8.8M+105.0% | $4.3M+67.4% | $2.5M-60.4% | $6.4M+18.8% | $5.4M+226.2% | $1.7M-3.8% | $1.7M-58.5% | $4.2M |
| Current Liabilities | $4.9M | N/A | N/A | $4.1M+21.0% | $3.4M | N/A | N/A | $3.0M |
| Long-Term Debt | $174K-91.6% | $2.1M | N/A | N/A | N/A | $1.1M+499.4% | $180K-2.2% | $184K |
| Total Equity | $1.8M-55.8% | $4.0M-38.6% | $6.6M-24.8% | $8.8M+15.1% | $7.6M-14.0% | $8.9M+3.2% | $8.6M+42.9% | $6.0M |
| Retained Earnings | -$163.6M-1.4% | -$161.3M-1.9% | -$158.3M-4.3% | -$151.8M-0.8% | -$150.7M-0.8% | -$149.5M-0.7% | -$148.5M-0.4% | -$147.9M |
BLGO Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.9M-83.5% | -$1.6M+42.4% | -$2.8M-30.3% | -$2.1M-15.7% | -$1.8M+4.5% | -$1.9M-18.3% | -$1.6M-972.8% | -$151K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$32K-146.2% | -$13K-105.1% | $256K+33.3% | $192K | $0+100.0% | -$57K-46.2% | -$39K+89.1% | -$358K |
| Financing Cash Flow | $3.2M+235.1% | $952K-73.3% | $3.6M+26.0% | $2.8M+227.1% | $866K-45.6% | $1.6M+108.4% | $764K-23.5% | $999K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BLGO Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.1%+20.8pp | 20.3%-13.4pp | 33.7%-17.4pp | 51.2%+5.7pp | 45.5%-2.3pp | 47.8%+8.3pp | 39.6%-3.0pp | 42.6% |
| Operating Margin | -287.4%+363.8pp | -651.1%-0.2pp | -651.0%-586.1pp | -64.9%-7.9pp | -57.0%-12.7pp | -44.3%-19.9pp | -24.4%-6.6pp | -17.8% |
| Net Margin | -305.4%+367.0pp | -672.4%-15.7pp | -656.8%-589.0pp | -67.8%-9.0pp | -58.8%-11.4pp | -47.4%-23.0pp | -24.4%-8.8pp | -15.6% |
| Return on Equity | -190.7%-88.2pp | -102.5%+7.6pp | -110.1%-88.6pp | -21.5%+3.8pp | -25.3%-5.7pp | -19.6%-7.2pp | -12.4%+0.6pp | -13.0% |
| Return on Assets | -39.8%+10.1pp | -49.8%+29.5pp | -79.3%-64.3pp | -15.1%+3.2pp | -18.3%-1.8pp | -16.5%-6.2pp | -10.3%-2.5pp | -7.8% |
| Current Ratio | 1.10 | N/A | N/A | 2.25+0.1 | 2.14 | N/A | N/A | 2.36 |
| Debt-to-Equity | 4.90+4.4 | 0.51+0.1 | 0.39-0.3 | 0.74+0.0 | 0.71+0.6 | 0.12+0.1 | 0.020.0 | 0.03 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Biolargo's annual revenue?
Biolargo (BLGO) reported $7.8M in total revenue for fiscal year 2025. This represents a -56.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Biolargo's revenue growing?
Biolargo (BLGO) revenue declined by 56.3% year-over-year, from $17.8M to $7.8M in fiscal year 2025.
Is Biolargo profitable?
No, Biolargo (BLGO) reported a net income of -$15.2M in fiscal year 2025, with a net profit margin of -195.6%.
What is Biolargo's EBITDA?
Biolargo (BLGO) had EBITDA of -$14.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Biolargo have?
As of fiscal year 2025, Biolargo (BLGO) had $3.9M in cash and equivalents against $2.1M in long-term debt.
What is Biolargo's gross margin?
Biolargo (BLGO) had a gross margin of 43.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Biolargo's operating margin?
Biolargo (BLGO) had an operating margin of -191.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Biolargo's net profit margin?
Biolargo (BLGO) had a net profit margin of -195.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Biolargo's return on equity (ROE)?
Biolargo (BLGO) has a return on equity of -375.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Biolargo's operating cash flow?
Biolargo (BLGO) generated -$8.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Biolargo's total assets?
Biolargo (BLGO) had $8.3M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Biolargo spend on research and development?
Biolargo (BLGO) invested $2.6M in research and development during fiscal year 2025.
What is Biolargo's debt-to-equity ratio?
Biolargo (BLGO) had a debt-to-equity ratio of 0.51 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Biolargo's return on assets (ROA)?
Biolargo (BLGO) had a return on assets of -182.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Biolargo's cash runway?
Based on fiscal year 2025 data, Biolargo (BLGO) had $3.9M in cash against an annual operating cash burn of $8.3M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Biolargo's Piotroski F-Score?
Biolargo (BLGO) has a Piotroski F-Score of 1 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Biolargo's earnings high quality?
Biolargo (BLGO) has an earnings quality ratio of 0.55x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Biolargo cover its interest payments?
Biolargo (BLGO) has an interest coverage ratio of -27.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.