v3.26.1
Note 12 - Business Segment Information
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

Note 12. Business Segment Information

 

BioLargo has seven 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; 

 

6.

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

 7.BioLargo CPG LLC ("BCPG") - founded in 2026 to commercialize household consumer products based on our technologies.

 

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 and six months ended June 30, 2026, and 2025, is as follows (in thousands):

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Revenue

                

ONM Environmental

 $471  $2,006  $895  $4,809 

BioLargo corporate

  9      9    

BLEST

  1,090   940   1,888   1,630 

Clyra Medical

        154    

BioLargo Canada

  70      126   8 

Intersegment revenue

  (392)  (169)  (709)  (401)

Total

 $1,248  $2,777  $2,363  $6,046 
                 

Stock option expense

                

BioLargo corporate

 $472  $292  $758  $701 

Clyra Medical

  250   200   663   406 

Total

 $722  $492  $1,421  $1,107 
                 

Depreciation expense

                

BioLargo corporate

 $(10) $(10) $(19) $(19)

ONM Environmental

  (9)  (10)  (23)  (23)

BLEST

  (8)  (11)  (17)  (28)

Clyra Medical

  (2)  (3)  (4)  (4)

BETI

  (2)  (2)  (4)  (4)

Total

 $(31) $(36) $(67) $(78)
                 

Research and development expense

                

BioLargo corporate

 $(323) $(219) $(584) $(466)

BLEST

  (255)  (82)  (463)  (326)

BETI

  (156)  (54)  (298)  (113)

BioLargo Canada

  (87)  (120)  (179)  (256)

Clyra Medical

  (610)  (229)  (1,131)  (564)

BCPG

  (40)     (40)   

Intersegment R&D

  383   169   700   401 

Total

 $(1,088) $(535) $(1,995) $(1,324)
                 

Operating income (loss)

                

BioLargo corporate

 $(889) $(1,045) $(1,338) $(1,858)

ONM Environmental

  (110)  823   (204)  1,780 

BLEST

  (45)  16   (426)  (364)

BETI

  (339)  (122)  (694)  (217)

BEST

  (75)  (67)  (165)  (125)

BioLargo Canada

  (105)  (144)  (218)  (300)

BCPG

  (60)     (60)   

Clyra Medical

  (2,105)  (1,263)  (3,826)  (2,580)

Total

 $(3,728)  (1,802) $(6,931) $(3,664)
                 

Interest income (expense)

                

BioLargo corporate

 $1  $3  $64  $6 

ONM Environmental

  (3)  33   (3)  47 

Clyra Medical

  (270)  (116)  (450)  (198)

Total

 $(272) $(80) $(389) $(145)
                 

Net income (loss)

                

BioLargo corporate

 $(888) $(1,042) $(1,359) $(1,853)

ONM Environmental

  (113)  856   (207)  1,827 

BLEST

  (45)  16   (426)  (363)

BETI

  (339)  (122)  (694)  (217)

BEST

  (75)  (67)  (165)  (125)

BioLargo Canada

  (105)  (144)  (219)  (294)

BCPG

  (60)     (60)   

Clyra Medical

  (2,375)  (1,379)  (4,275)  (2,778)

Total

 $(4,000) $(1,882) $(7,405) $(3,803)

 

As of June 30, 2026

 

BioLargo

  

ONM

  

CLYRA

  

BLEST

  

BETI

  

BioLargo Canada

  

Elimination

  

Total

 

Tangible assets

 $515  $1,629  $2,113  $1,248  $46  $112  $(203) $5,460 

Operating lease right-of use

  173      162   592            927 

Finance lease right-of-use

        282               282 

Total

 $688  $1,629  $2,557  $1,840  $46  $112  $(203) $6,669 

 

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