FSI ANNOUNCES FOURTH QUARTER AND FULL YEAR 2024 REVENUE

Rhea-AI Summary

Flexible Solutions International (FSI), a developer of biodegradable polymers and environmental technologies, has reported its Q4 and full-year 2024 revenue figures. The company experienced a 3% year-over-year decline in Q4 revenue, dropping from $9.43 million in Q4 2023 to $9.15 million in Q4 2024. Full-year revenue showed minimal change, slightly decreasing from $38.3 million in 2022 to $38.2 million in 2023.

CEO Dan O'Brien attributed Q4 weakness to international agriculture market conditions but expressed optimism for improvement in 2025. Complete financial results will be released after market close on March 31, 2025, followed by a conference call on April 1, 2025.

Positive

• Stable full-year revenue with minimal 0.3% decrease year-over-year
• Company maintains diversified product portfolio across multiple markets

Negative

• Q4 2024 revenue declined 3% year-over-year
• Weakness in international agriculture market segment

VICTORIA, BRITISH COLUMBIA, Jan. 14, 2025 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. FSI is also increasing its presense in the food and nutrition supplement manufacturing markets. Today the Company announces fourth quarter (Q4) and full year, 2024 revenue.

Sales were slightly lower in Q4, 2024 compared to Q4, 2023. Flexible Solutions’ top line revenue decreased from $9.43million (Q4, 2023) to $9.15million (Q4, 2024), down approximately 3% year over year. Full year revenue decreased from $38.3 million in 2022 to $38.2million in 2023, a full year decrease of 0%.

Mr. Dan O’Brien, CEO, comments, “Q4 saw some weakness in the international agriculture market that we expect will improve in 2025.”

Complete financial results will be available after market close on March 31, 2025 concurrent with the Company’s SEC full year filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, the following business day, Monday, April 1, 2025. See the FSI March 31, 2025 financials news release for the dial in numbers.

About Flexible Solutions International

Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavr^™, the world’s first commercially viable water evaporation retardant. WaterSavr^™ reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Heatsavr^™, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.

Safe Harbor Provision

The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Flexible Solutions International
6001 54^th Ave, Taber, Alberta, CANADA T1G 1X4
Company Contacts

Jason Bloom
Toll Free: 800.661.3560
Fax: 403.223.2905
Email: info@flexiblesolutions.com

To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com

If you have received this news release by mistake or if you would like to be removed from our update list please reply to: info@flexiblesolutions.com

FAQ

What was FSI's Q4 2024 revenue compared to Q4 2023?

FSI's Q4 2024 revenue was $9.15 million, down 3% from $9.43 million in Q4 2023.

How did FSI's full-year 2024 revenue compare to 2023?

FSI's full-year revenue slightly decreased from $38.3 million in 2023 to $38.2 million in 2024, showing virtually no change year-over-year.

When will FSI release its complete financial results for 2024?

FSI will release its complete financial results after market close on March 31, 2025.

What caused FSI's revenue decline in Q4 2024?

According to CEO Dan O'Brien, the revenue decline was due to weakness in the international agriculture market.

When is FSI's conference call scheduled for Q4 and full-year 2024 results?

FSI's conference call is scheduled for April 1, 2025, at 8:00 am Pacific Time (11:00 am Eastern Standard Time).