Welcome to our dedicated page for Cyanotech news (Ticker: CYAN), a resource for investors and traders seeking the latest updates and insights on Cyanotech stock.
Cyanotech Corporation (CYAN) is a microalgae-focused manufacturer in the medicinal and botanical sector that regularly publishes detailed financial and operational updates. The company describes itself as a world leader in microalgae-based, high-value nutrition and health dietary supplement products, centered on its BioAstin Hawaiian Astaxanthin and Hawaiian Spirulina Pacifica lines produced at its 96-acre facility in Kona, Hawaii.
On this news page, readers can follow Cyanotech’s quarterly and annual earnings announcements, where the company reports net sales, gross profit, operating income or loss, and net income or loss, along with commentary from management. These releases often discuss trends in bulk versus packaged sales, contract extraction revenue, inventory management, production efficiency, and gross margin performance.
Cyanotech’s news flow also covers strategic and operational themes such as tariff impacts on contract extraction competitiveness, macroeconomic conditions affecting demand, and initiatives in brand-building, e‑commerce channels and bulk ingredient markets. In addition, the company and its Nutrex-Hawaii subsidiary issue product-related news, including new formats like gummies for BioAstin Hawaiian Astaxanthin and Hawaiian Spirulina, reflecting ongoing product development within its microalgae-based portfolio.
Investors and observers can use this page to review management’s narrative around financial results, operational discipline, and the company’s focus on naturally farmed Hawaiian microalgae. For deeper detail, Cyanotech’s releases frequently direct readers to its Form 10‑K and Form 10‑Q filings with the U.S. Securities and Exchange Commission.
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Cyanotech Corporation (CYAN) reported its financial results for the third quarter and first nine months of fiscal year 2023, revealing a 37.7% decrease in net sales, totaling $5.89 million compared to $9.46 million in the same quarter last year. The company experienced a gross profit margin decline to 29.9%, down from 34.2%. Net loss stood at $598,000 or $0.10 per diluted share. For the first nine months, net sales decreased 36.1% to $17.79 million. Operating losses were significant, with a loss of $1.67 million for the nine months, compared to an operating income the previous year.
The company cites ongoing inventory adjustments and global supply chain challenges as key factors affecting performance.
Cyanotech Corporation (CYAN) reported substantial declines in financial results for the second quarter and first half of fiscal 2023. Net sales fell by 45.0% to $5.2 million compared to $9.4 million in the prior year, primarily due to adverse exchange rate impacts and reduced sales in the bulk and e-commerce segments. Operating loss expanded to $837,000, with a net loss of $940,000 or $0.15 per diluted share. Over the first six months, net sales dropped 35.3% to $11.9 million, resulting in a net loss of $1.4 million or $0.23 per diluted share. Gross profit margins also decreased, reflecting ongoing challenges.
Anavasi Diagnostics, a medical technology firm, has elected three new board members: Bryan Crane, PhD, from Illumina, Arthur Kirsch from Liquidia Corp, and David Vied from Cyanotech Corporation. This expansion aims to leverage their extensive industry experience to enhance Anavasi's growth as it progresses through clinical trials and product development. Nelson Patterson, CEO, expressed optimism about the fresh perspectives these members will bring. Anavasi has secured $6 million in seed funding and is currently in a $20 million Series A fundraising round.
Cyanotech Corporation (NASDAQ: CYAN) reported disappointing financial results for Q1 FY2023, ending June 30, 2022. Net sales dropped by 25.1% to $6.72 million, down from $8.96 million in the same quarter last year. Gross profit also decreased to $2.32 million, yielding a gross margin of 34.5%, compared to 41.0% previously. The company faced an operating loss of $425,000 and a net loss of $472,000, or $0.08 per diluted share. Production issues related to staffing shortages and timing of shipments contributed to lower sales and higher costs.
Cyanotech Corporation (Nasdaq: CYAN) reported strong fiscal year 2022 results, with net sales reaching $36.0 million, an increase of 11.2% from fiscal 2021. The gross profit rose to $13.6 million, achieving a 37.7% gross margin, up from 34.4% the previous year. The company generated $2.4 million in cash from operations and deleveraged by $1.7 million. However, fourth-quarter net sales declined to $8.1 million, a 13.9% decrease year-over-year. Net income for the fiscal year was $2.15 million, equating to $0.35 per diluted share.
Nutrex Hawaii, Inc. has launched TurmericAstin, a new product combining BioAstin Hawaiian Astaxanthin and Organic Turmeric Root Extract with 95% curcuminoids. This product aims to support a healthy inflammatory response and enhance immune health and brain function. The company emphasizes sustainable farming practices, utilizing solar power and ultra-deep ocean water at their facility in Kailua-Kona, Hawaii. The product contains ingredients designed for effective absorption, including BioPerine Black Pepper Extract.
Cyanotech Corporation (CYAN) announced its financial results for Q3 and the first nine months of fiscal year 2022, showing robust growth despite supply chain issues. In Q3, net sales rose to $9.46 million, a 35.4% increase from the previous year, with a gross profit of $3.24 million and a margin of 34.2%. Net income for the quarter was $386,000 ($0.06 per diluted share), down from $827,000 ($0.13) the prior year. For the first nine months, net sales reached $27.84 million, up 21.5%, with net income at $1.88 million ($0.30) compared to $1.12 million ($0.18) previously.