v3.26.1
Note 11 - Business Segment Information
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

Note 11. Business Segment Information

 

BioLargo has six operating business segments, plus its corporate entity which is responsible for general corporate operations, including administrative functions, finance, human resources, marketing, legal, etc. The operational business segments are:

 

 

1.

ONM Environmental -- which sells odor and volatile organic control products and services, located in Westminster, California;

 

2.

Clyra Medical Technologies (“Clyra Medical”) -- which develops and sells medical products based on our technologies, located in Tampa, Florida;

 

3.

BioLargo Engineering (BLEST) -- which provides professional engineering services on a time and materials basis for outside clients and supports our internal operations as needed, located in Oak Ridge, Tennessee;

 

4.

BioLargo Canada, Inc. (“BioLargo Canada”) – the main hub of our scientists researching and developing our technologies, operating out of the University of Alberta, Edmonton, Canada;

 

5.

BioLargo Energy Technologies, Inc. (“BETI”) – which is developing our proprietary battery technology; and

 

6.

BioLargo Equipment Solutions & Technologies, Inc. (“BEST”) – which manages the sales and distribution of our water treatment products and related services.

 

Other than ONM Environmental, none of our operating business units have operated at a profit, and therefore have required additional cash to meet its monthly expenses, funded through sales of debt or equity, research grants, and tax credits. BETI and Clyra Medical have also been funded by third party investors who invest directly in exchange for equity ownership in that entity.

 

The segment information for the three months ended March 31, 2026, and 2025, is as follows (in thousands):

 

  

Three Months Ended March 31,

 
  

2026

  

2025

 

Revenue

        

ONM Environmental

 $423  $2,803 

BLEST

  797   690 

Clyra Medical

  154    

BioLargo Canada

  58   8 

Intersegment revenue

  (317)  (232)

Total

 $1,115  $3,269 
         

Stock option expense

        

BioLargo corporate

 $286  $409 

Clyra Medical

  413   206 

Total

 $699  $615 
         

Depreciation expense

        

BioLargo corporate

 $(9) $(11)

ONM Environmental

  (10)  (10)

BLEST

  (11)  (17)

Clyra Medical

  (2)  (4)

BETI

  (2)   

Total

 $(34) $(42)
         

Research and development expense

        

BioLargo corporate

 $(261) $(248)

BLEST

  (208)  (244)

BETI

  (142)  (60)

BioLargo Canada

  (92)  (136)

Clyra Medical

  (521)  (335)

Intersegment R&D

  317   232 

Total

 $(907) $(791)
         

Operating income (loss)

        

BioLargo corporate

 $(459) $(817)

ONM Environmental

  (95)  956 

BLEST

  (380)  (378)

BETI

  (355)  (94)

BEST

  (90)  (58)

BioLargo Canada

  (113)  (156)

Clyra Medical

  (1,712)  (1,315)

Total

 $(3,204) $(1,862)
         

Interest income (expense)

        

BioLargo corporate

 $63  $3 

ONM Environmental

     15 

Clyra Medical

  (179)  (83)

Total

 $(116) $(65)
         

Net income (loss)

        

BioLargo corporate

 $(481) $(815)

ONM Environmental

  (95)  971 

BLEST

  (380)  (377)

BETI

  (355)  (94)

BEST

  (90)  (58)

BioLargo Canada

  (113)  (150)

Clyra Medical

  (1,891)  (1,398)

Total

 $(3,405) $(1,921)

 

 

As of March 31, 2026

 

BioLargo

  

ONM

  

CLYRA

  

BLEST

  

BETI

  

BioLargo Canada

  

Elimination

  

Total

 

Tangible assets

 $674  $2,016  $3,520  $1,022  $235  $12  $(203) $7,276 

Operating lease right-of use

  206      169   604            979 

Finance lease right-of-use

        310               310 

Total

 $880  $2,016  $3,999  $1,626  $235  $12  $(203) $8,565 

 

As of December 31, 2025

 

BioLargo

  

ONM

  

CLYRA

  

BLEST

  

BETI

  

BioLargo Canada

  

Elimination

  

Total

 

Tangible assets

 $694  $2,331  $2,650  $1,169  $4  $321  $(224) $6,945 

Operating lease right-of use

  238      175   615            1,028 

Finance lease right-of-use

        338               338 

Total

 $932  $2,331  $3,163  $1,784  $4  $321  $(224) $8,311