BLGO BIOLARGO, INC.

Overview and Growth

In fiscal 2025, BIOLARGO, INC. recorded $7.76M of revenue, net loss of $11.78M, and an operating cash outflow of $8.30M. At $7.76M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 56.3% below fiscal 2024 revenue of $17.78M, marking a top-line contraction. At period end, total assets were $8.31M, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.93x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Gross profit was $3.41M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 43.9% of revenue, showing how much of the top line remained after direct costs. Operations produced a $14.86M operating loss before non-operating and tax effects. An operating margin of -191.3% reflected costs exceeding revenue-level gross profit by 191.3% of sales. The bottom-line result was a net loss of $11.78M after operating, financing, tax, and other recognized items. Measured against revenue, the bottom-line deficit represented 151.7% after all recognized items. Negative EBITDA totaled $14.71M, confirming that the earnings deficit remained before depreciation and amortization. Relative to period-end equity, the net loss represented 772.0%. Relative to total assets, the net loss represented 141.7%. Compared with a $2.40M net loss in fiscal 2024, the current loss increased to $11.78M.

Liquidity and Capital Structure

Total assets were $8.31M, supported by $6.79M of liabilities and $1.53M of shareholder equity. At period end, current assets of $5.11M compared with current liabilities of $5.06M, defining the company’s short-term resource position. At 1.01x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $3.88M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 76.7%, excluding receivables and other current assets. Borrowings totaled $2.08M, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 1.36x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 25.0%, showing how much of the asset base was matched by borrowing. Book equity represented 18.4% of total assets, quantifying the balance-sheet share supported by shareholder capital. Relative to total assets, liabilities measured 81.6%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 46.7%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 20.9% from $10.51M in fiscal 2024, leaving current total assets lower year over year. Book equity was 74.8% lower than fiscal 2024 equity of $6.06M, showing how shareholder capital changed year over year. The reported cash balance changed 9.4% from $3.55M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $8.30M, rather than cash generation from operations. The operating cash outflow widened to $8.30M from $3.21M in fiscal 2024.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.