BioLargo

BLGO

Chemicals · Basic Materials

Price

$0.11

-0.01 (-5.28%)

Market Cap

$34.7M

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+24.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 247.2M (2021) → 307.0M (2025)

BioLargo is a small environmental technology company that develops solutions for cleaning up pollution and treating contaminated water. Its main products include a water treatment system called PFAS Annihilator, which removes harmful "forever chemicals" from drinking water, and AOS (Advanced Oxidation System) technology used by industrial and municipal customers. The company also has a subsidiary called Clyra Medical that applies its technology to wound care products.

BioLargo earns revenue through a mix of product sales, engineering services, and licensing its patented technologies to other businesses. It operates primarily in the United States and Canada, and remains a very small company with a market cap under $100 million. The deeply negative operating margin shows the company is spending far more than it earns, which is a significant risk — its long-term survival depends on whether it can scale up commercial sales of its water treatment technology fast enough to reach profitability before needing additional outside funding.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-83.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-176.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$3M/ year

↓ Declining (-10% vs prior year)

33.4% of revenue

11.1x the sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

13.6%ownership

Insiders own a meaningful stake in the company

Cash Runway

~7 months

$4M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

BioLargo has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

20.3%

Thin — 20.3% gross margin

Operating Margin

-767.5%

Losing money on operations — -767.5%

ROCE

-73.5%

Weak — -73.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-56.3%

Shrinking sales (-56.3% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-107.4%

Burning cash (-107.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.59

Conservative — low debt load (0.59)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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