BioLargo (BLGO) 14 Nov 242024 Q3 Earnings call transcript

Welcome to the BioLargo Third Quarter 2024 Earnings Results Call. [Operator Instructions] I would now like to turn the call over to your host, Brian Loper. Please go ahead, Brian.

Great. Thank you, operator. welcome the QX XXXX. months and conference earnings everyone, for call ended afternoon, to XXXX BioLargo's results Good September XX, now, earlier had release, have everyone the By press earnings access which this [ to issued ] week. was should with available laws, webcast we statements about customers, operations, results including our considered forward-looking is are our the within business include replay. In plans, of and statements call potential remarks for strategies our and This meanings growth that forward-looking being today, will of relationships and market securities future opportunities.

additional management may statements addition, [ In to the questions. make forward-looking in response ]

with Forward-looking materially are knowledge subject XX-Q, are XX-K current the any detailed A from The undertakes statements contained actual such and no and Form obligation the Officer, and call Dennis risks Chief certain and Calvert. of the Executive other statements. And and I'll forward-looking recent uncertainties and our update SEC. most statements. filed with today over to company on are of uncertainties that, to based discussion in may to differ expectations BioLargo's hand risks to the management's Form cause reports as forward-looking results

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why And industrial. delay to million found a growing partnership make adoption finds we're assets, that, $XXX more about to technologies expect talk we that an to And $XXX quite company talked we'll And one we through eventually, in slug magnitude be believe larger. Pooph. breaking now, exit. find at know, scale and to we're resource that We away know information that big which between critical in investments same and the every but invest time it's go we're that to sure we somewhere doing, they're went to in We've launch. we've get a acknowledged that successful. We resource to range. The we will really value for. an products that share applies investments. such it's of cycle you and ready willing that, to [ make $X.X a and negotiated its go willing the that those mode, faced predicted fully preparing $XXX We these passion is in have participation that that third-party somewhere it's a schedule. about we As create next And equipment, prepare orders to the exit of plus to It's the extraordinary XX% the we've through going million. great traction, you brand It's exit the innovation made with to ] going million we're so as task we on prepare bit Clyra. daunting other of and partner, about records, supported and to to a go, significant that a Right think right, and validations ready time, commitments some book. the first launch substantial million quite and quarter. to I've these

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and stripping in foam, wastewater, PFAS waiting -- done. adoption. there's go there's things We industrial the firefighting beauty a install little the example, that ] ahead municipal there's we're and ion reconditioning permitting we've contractor and us done it opportunities. And exchange to first case for building. drinking bit off wastewater, get Anxious are There on first to our a got to ago, and PFAS goes. so on of groundwater, like there's latent For water, the [ recycling general our get the just commercial got is just many on

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global to scalability, with working we to leveraging plan me for with wrong. I'm a us technology. But it's position. And talk there's here believe scalability a get some to I'm highlight we business commercial to scale the global one billion global to about describe And the spot business keep valuation I'm fact range, performance. at got got battery billion, I'm plan core that. has as we're $X it that. that, really a rather partners a going detail account. meager and that's frontrunner and competency competitor that then the expand I this anxious saying can in Now, remarkable. going I with someone in for actually hoping puts and the create we're by that that. on We $X.X-plus no and in think comes the forth going proves

warning This is apply. forecast. the a prize ] with those execution us that's this course, not technology is the Of before financing, and risk, a proper the things [ as is cornerstone all

circuit to year ending XX. So at financial this we course. I'm that of period, performance to most Charlie don't basis the ask step talk all, now technical want recent about going up short a and for on September to

So Charlie, you're ready?

Okay.

everybody I off I'm think Can hear me? mute.

There Yes. you go.

Dennis... Well, thanks, Good. so,

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to thank all, I'm got I on. for you, report. third our on it. everyone listening And the quarter call

slide on or months. the last large with rate, We're at fed we million And a great where certainly we basis. should have at is the annual revenue, an another million, into run be were we believe $XX we on increase X quarter over did $XX year. more definitely this So which our and

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yes. Slide X, number

When revenue SG&A. at look and the yes, we the --

X quarterly is to in maintaining the of an a been which me back area X-month last is almost X for close million million, revenue. $XXX,XXX year's important and improvement And and which improvement So, $X.X months. months. Again, is third million, SG&A as let our loss, go growing loss the our We've to net quarter loss the the why the we've $X.X It's is noncash, the our been from that from then been in quarter. much $X with $X.X million company, and pretty costs start revenue. even big, which year's was we'll was net last

cash situation. So, are operating perspective, for the our our improving we on and P&L

working convention. with So do what's is an everyone that notice is for to decline has tell our as accounting quarter-to-quarter. it revenue, that can I recognize revenue we to there a the want is what you It and in -- And capital.

we If can revenue. of contract And as balance statement, due fall will that you and what cash we because and accounts of into show that sheet, on has expect they increased substantially up flow fully business. increased our recognize at which the conventions accounting receivable liabilities, also to look our they see you'll which both as our are revenue, the assets

So thing. it's a timing

changed back months. quarter million aspect going $X.X it, be then actual on in again, -- that we for to the the it to but or used good Again, I of And in to just we continues So business for -- like the from the working P&L improvement $X.XX was cash and the an capital But because negative -- thing, way is account flow, million a of last the truth X have our to out also said, our statements. turns year. a grow.

cash sitting our to decline. From revenues and $X.X perspective, continues Our continue a to loss million. grow, we're on

in and very really quarter. cash the next that, see again which fact, in be of an of increase is So liabilities, we if slide, all to declined And continue Dennis, the result kick you small good very, third-party The situation. our this has a certainly in stockholders' is debt in equity. you'll to

good. Very

Okay.

So, perspective, we're a in balance increasing equity, from a essence, in really position. sheet reducing debt. good We're

have increased We've reduced and good We revenue the loss. operations. really

So back to you.

a of and come cash. Clyra, We've equipment, alongside investors a bit substantial that has color. taken Clyra. related little also Yes. investments have quite that I'll just to then of invested in And made bit BioLargo Also into primarily comment

that to put same the actually been for who into $X.X work of in million the price terms has which equity X great. on we course of investors Clyra So exchange in over months the operation, funded

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good we position, show cash to so, And are as can been good well ready, and a Clyra to is that that sure fast news make in ready support those possibly we launch to up as just we've the as and products. is able get

Okay? Little backdrop.

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is highlight the creation way a the highlights the the full the to and really Pads that Potty circle origin Potty scaled the goes for there leverage of comes are company, story back And chain. Pads. think it show I brand The supply story business. with to the story and recognition our of

off of detail and money order. where mode ready time at accrue at benefits of to what a for the spent a line. scaled and about being to already. but talking major extraordinarily scale. Pooph And lot scale talked pricing large it our briefly, it's I working a with a ready come I as great to Products talked an enter we're That's on competitive manufacturing allow the ready example the the Clyra with player As come partnership ready the and we get need don't bear. We it margin supply to mode. enough. lot market and partners. journey that's chain, us now, of We can't to about. that's about the to emphasize first We right

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Okay. quick. We're the battery talk technology about [ going ] to real

very So is this important. article

please it, you do. haven't read If

X month business. trillion next talking reach dollar ago. storage. also about Clean The storage, economists long-duration is can us. energy out to long-duration energy this You wrote energy about It's

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backup markets, Let let offloading, next see make perhaps emergency this we EV Yes, what right. next me buildings, energy and perhaps got talked the -- charging right? like. stations, So to I've balancing the sure to certainly grid, the the home, are about renewable

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very, happens new new Drinking water is important. drinking is water. way. Why but say, it's adopt public appointees, works. made barrier. really political It's adopt and to They're you technology. got and to difficult that to hesitant hard through break technology drinking by figures, to slow, very work water this really politically, the the We this water? slowest So okay, it is Okay? most And drinking always

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I'll Okay. open again, you, thank questions. We'll And for now. pause everybody. up it

Instructions]. [Operator

Dennis. right. well. as Terrific us. Thank sharing you, Fine with presentation. that for Charlie, All Thanks, numbers

I is BioLargo think one thing still little a the dipped is annually, have that's Q-over-Q growing might pretty important crazily. but to year-over-year, distinguish, bit, numbers differentiate

Yes.

you you're -- So question asking? that's a some want Is do there that in one? that Is -- that? is what on that color

Well, QX you explain we in the question. Can dip a revenues? have yes, better

Yes.

couple is to number. past, explanations there. in had there's our us engineers recall higher up One with we've kick some that projects allowed a that, the of a So to

group. that's create So also out of that also Those some our balance that on we've was not had come event. not contracts. recurring. yet, that work recognize be were Good have Charlie related contracts the in where example we've asset, then pointed to sheet would treatment the been And Force some and engineering that the able revenue onetime Air to

And so well. as implication that has an

of Pooph, but performance we've don't in we not of that, And we believe reflective in that QX the We strong emerge dramatic QX, Pooph. seen and also periods believe history, the past as our historically that do that's seen trends. we growth that's have the for into with been

have long stated the a they Pooph incentive haul, quarter-over-quarter. so. which is they They for an again, rate, achieve goal XX% growth certainly and the can do over believe changed, hasn't to So

but So certainly control we're it. pulling don't it, pulling for that. We we're for

as think We more find really whole some there's things with assets. technology significant That's we traction XXXX, our of events. I great. bunch Now believe go a good happening. There's do into we'll water

are us That's our through to engineers. some that have projects also great. We coming

very way, Clyra preparing to big, all for have significant the launch BioLargo. bodes well also a numbers, really We for really future significant in

is to might He hope that? that to So the you that enough? add want Or on I mute. do be answers question. Charlie,

Brian. Okay, he can. in He'll come when

Next question?

Yes.

what short real revenue number is but the QX? [indiscernible] question, So for

$X million...

no, ], just for million. no, million quarter. [ $X.X $X.X under No, million $X.XXX the

Great. Okay.

Let's see here. All right.

to from questions uplist I let's start to to what investors of you expect a And on one. today. will this number guess take do happen? a call this have with it the We When make major exchange?

out at just business all, position, it and we're starved strong on be business, able our advancing to continuing execute our and position we're be it lot like XXXX. factors in not I'd we see believe the the cash do trigger price see grow. a guarantee That be, execute Yes. and in until us on equity prove commercial stock to to in in that's Can't to that's should their and That's we're value been that viability together. simple then that capital some make results. If need it to We We good to it. would because believe that we puts in terms, come of appreciation the We've do. we underlying my which of a There's a business goal. what price. hesitant the very question. pull great happen should case, a to

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question. hope So the that answers

believe is our cleaning to sources Do actually will rooting a That great [ for Yes. segue. you ] and administration PFAS? water favorable be solutions the new country's

have gig It's them, is for these good is the not that but linked up. chemicals a gig I will earth. of the for multitrillion are a of going just current net Yes. with cancer. Well, poised The America. that It's walk well These mean -- administration. market. steroids. on concept, dollar literally is, that's in dollar portfolio it's battery those right, Domestic Made regulations The sure. trillion actually the defects all the the we There's question. to and the backwards. to job things in set. so of PFAS export. They with One have about are view number been the Made fit They're steroids. contaminants water also -- a technology think, manufacturing, literally think That's tech in -- up. our Then birth domestic on about creation, America

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a think I So in we're BioLargo that's spot. course, too. good pretty then, for good all pro-markets, And of pro-commerce,

right. All

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right. All

to battery. shift the Let's gears

the third-party for to validation? those are ] expect? [ battery are product And So what when delivered? be did submit hurdles results expected we When

of a Yes. There's hurdles? the hurdles. are What ton

validation third-party on testing. the So battery

Sally reported going was Q, is of So Energy. of those the also, level, And Department that DOE both argue particularly should got we've program begun at doors and have ] that some a together for I and for the other highest would our United the of what government national relationships we the we've putting EPA. These the result mention with I technology, with through issues States in interest. awesome. opened a which EPA, the a water process same the the direct with of program of are [ the people America the

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Yes. And just real something quick, or potential is the clients validation essential for helpful?

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so do work. now got the you to And

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cycle. We've to innovation earliest the some the see. do. got That's we'll work So in

also urgent So that. press forth the the bringing. It's probably most from don't and the world to forget we're bring what biggest probably

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And waiting tell us. for to so them we're

we answers. today. Dennis. that, I All That's you all in appreciate right. you have being Thank so your for for thorough

Well, everybody. just Okay. out let's close then,

for to assets Don't I So way. slide in to technical make again, the we value support. want in performance. again, intend the make a approximately and and our on thesis continue continue we change to the knows under is of sure steadfastly We're think marching big your on we capital the you these trends we'll growth a to the our everybody to best of record year a thank XXXX conserving forward these growth And to day. technical pace love million. And $XX year-over-year. think is do unseen that, the given coming And sure record year we'd XXX% that, just leverage acceptance,

and going going out there to that's everything it can make to So happen. to do put XXXX, mark we're we for a

help let me and So thank can you much, know you. we how very

you This concludes attending. today's conference Thank for call.