BioLargo (BLGO) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was $1.1M, down 66% year-over-year due to the loss of a major private-label customer, Pooph Inc., which previously accounted for 79% of consolidated revenue in Q1 2025.

• Net loss widened to $3.4M from $1.9M in Q1 2025, primarily due to the revenue decline.

• Service revenue increased 15% year-over-year, partially offsetting the product revenue decline.

Financial highlights

• Product revenue fell 79% to $577K, while service revenue rose 15% to $538K.

• Gross profit dropped to $458K from $1.5M year-over-year.

• Operating loss increased to $3.2M from $1.9M in Q1 2025.

• Cash and cash equivalents at March 31, 2026, were $4.1M, up from $3.9M at year-end 2025.

• Working capital at quarter-end was $513K.

Outlook and guidance

• Management does not expect gross profits in 2026 to be sufficient to fund operations and anticipates the need for additional investment capital.

• Substantial doubt exists about the ability to continue as a going concern without increased revenues or further financing.