BioLargo (BLGO) Q2 2026 earnings summary

Executive summary

• The company operates as a portfolio builder in cleantech, incubating and commercializing subsidiaries in water treatment, medical devices, consumer products, energy storage, and engineering services.

• Revenue for the six months ended June 30, 2026, was $2.36 million, down 61% year-over-year due to the loss of a major private-label customer, but sequential Q2 2026 revenue grew 12% to $1.25 million.

• Net loss for the six months was $7.41 million, with Q2 2026 net loss at $4 million, and Clyra Medical accounting for a significant portion.

• Despite setbacks, the company advanced commercialization, launched new ventures, and is relaunching consumer products and medical segments.

• The company maintains lean overhead, with most capital raised at the subsidiary level and management committed to long-term value creation.

Financial highlights

• Product revenue fell 79% year-over-year for the quarter, while service revenue increased 7%; gross margin improved to 54% in Q2 2026.

• Cash and equivalents at quarter-end were $2.19 million, with a working capital deficit of $1.27 million.

• Operating expenses rose to $8.06 million, driven by higher R&D and SG&A.

• 86% of new capital in H1 2026 was raised at the subsidiary level, minimizing dilution at the parent.

• The Pooph exit led to a $4 million write-down and significant revenue loss, but a relaunch of the consumer products brand is planned.

Outlook and guidance

• Consumer products relaunch is targeted for October 2026 under a company-owned model, aiming to recapture and exceed prior Pooph-related revenues.

• Clyra Medical is advancing with new distributors, a second product launch, and a major national partner expected in 2027.

• PFAS water treatment business is positioned for growth with a commercial reference site, strategic alliances, and large-scale projects in the pipeline.

• Battery technology (Cellinity) is in pilot production, seeking commercialization partners, with a business model focused on licensing and royalties.

• Management does not expect gross profits in 2026 to cover operational costs and anticipates the need for further investment capital.