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Pet Odor Product Is a Major Hit for Clean Tech Co.

Source: Streetwise Reports


August 16, 2023 ( Newswire) BioLargo Inc.'s hit pet odor control product Pooph is launching at more than 20,000 stores this year, a tenfold increase in its current retail store count. The company also announced a 127% increase in year-to-date revenues compared to the last period. Read to see the press release, and what catalysts Biolargo sees coming its way.

BioLargo Inc.'s (OTCQB:BLGO) Pooph pet odor control product has been a surprise hit for the clean tech company, helping to increase the company's revenue by as much as 288% in the first quarter and 127% increase through Q2 compared to the prior year.

Dennis P. Calvert, BioLargo's President and CEO, said, "2023 is shaping up to be a great year. We are especially excited as the Pooph team continues its national advertising campaign and successfully adds more retailers to carry the product. They aim to secure contracts for more than 20,000 retail stores to carry the product, and those efforts are underway. We have witnessed first-hand how the team at Pooph executes with precision and will continue to support these ambitious goals."

Made by BioLargo subsidiary ONM Environmental and sold by partners at Ikigai, Pooph is finding success at Walmart stores and online at Amazon and now, with more than 12 major retailers now rolling out the product to their stores.

The product's availability is expected to go from approximately 2,000 stores as of June 30, 2023, to more than 20,000 retail stores as contracts continue to expand through the end of 2023.

"Q2 was marked by the stocking up of inventory in Q1 to support the logistics that roll out the product with Walmart. The product is currently available in 2,000 of the target 3,000 stores and expanding. When you look at the highlights of what we would call catalysts, odor is a big one because it's rocking and rolling," company President and Chief Executive Officer Dennis Calvert said. "Who would have ever thought odor control would be such a sexy product line?"

Pooph comprised 90% of ONM's revenues and 86% of BioLargo's revenues company-wide. BioLargo's revenues year-to-date were US$5.288 million, a 127% increase over the same period last year. In fact, during the first six months of 2023, the company has already achieved about 88% of last year's revenues (US$5.9 million).

Pooph destroys odors instantly on a molecular level and is clear, odorless, and non-staining while remaining "safe for people, pets, and the planet," the company said.

It is produced by its ONM Environmental odor and volatile organic compound (VOC) control subsidiary that also supports industrial sales around the country and is expanding through organic sales.

"Pooph is now on shelves in thousands of Walmart stores nationwide, and rollout through Chewy has begun," wrote Singular Research analyst Michael Mathison in a June 12 research note. "Pooph revenue exceeded our forecasts by 60%, and we have increased future Pooph revenue projections as a result."

Mathison rated the stock Buy-Venture with a 12-month target price of US$0.28.

"With strong revenue growth and continued tight expense controls, we see BLGO achieving positive operating cash flow in FY:24 and positive GAAP earnings in FY:25," he wrote. "We remain bullish."

The Catalyst: Revenue 'Exceeded Expectations'

BioLargo's multiple innovations also address contamination from so-called "forever chemicals," treat wastewater, improve energy efficiency, and control infections and infectious diseases.

It really is four commercial companies: BioLargo Energy, BioLargo Equipment, ONM Environmental, and Clyra Medical Technologies, all supported by the corporate office, its engineering group, and a research and development team.

Its approach is to invent or acquire novel technologies and develop them into products that solve problems and lead to profits. Pooph is a great example, Calvert has said.

"That's a full-circle story for the company, to validate not only the concept of why innovation is important but then to find the market and become an expert and then make the right partnership deal to allow you to exploit it all the way to exit to get the big prize," Calvert said.

The company said it expected (correctly) a reduction in topline revenue in Q2 as initial Walmart stocking orders of Pooph decreased. But Mathison said revenue "far exceeded expectations," and he expected the company to reach positive operating cash flow in the fiscal year 2024.

He said he remained "bullish" on the stock, and "with revenue growing rapidly and expenses largely fixed, we forecast that BioLargo will swing from losses to positive EBITDA in late FY:23 and positive GAAP earnings in FY:24," he wrote.

Customer: 'It Really Works'

ONM's original odor removal technology was developed by Chief Science Officer Ken Code, and its first use was in 2009 on odors in livestock facilities. With its success, the company branded and marketed the product for the waste-handling industry.

Pooph works on the same technology, the company said. It is fragrance-free, does not have volatile organic compounds (VOCs) or hazardous air pollutants (HAPs), and is "safe for people, pets, plants, and the planet," the company said.

The product has four out of five stars on one of its listings on, and the company said more than 7,300 people have left it five-star reviews.

"I honestly didn't think it would work," one reviewer, identified as M. Here, wrote, giving the product five stars on August 2. "My Labrador is wet constantly throughout the day ... You all know that nasty wet dog smell. ... It's really swampy. ... It works. It really works. And it doesn't mask the smell with perfume. It's like it cancels it out."

The company said it manufactures Pooph on a cost plus 30% margin and a 6% royalty basis. "Every bottle that is sold, we make money," Calvert said.

"As the company has evolved, we've developed this incredible skill at providing full-service solutions ... that allow us to take innovation all the way through the cycle into commercial adoption," he said. "We've got a number of commercial initiatives that are really significantly breaking out for the company ... (It) took a long time, a lot of money to get to this moment. And now we're really enjoying the fruits of that significant investment in technology and assets."

Ownership and Share Structure

About 14.6% of BioLargo is owned by insiders and management, according to Yahoo Finance. They include Chief Science Officer Kenneth Code with 8.77%, CEO Calvert with 3.43%, and Director Jack Strommen with 1.52%, Reuters reported.

About 0.04% is held by the institution First American Trust, Reuters said.

The rest, about 85%, is retail.

Its market cap is US$50.73 million, with about 285 million shares outstanding, about 243 million free-floating. It trades in a 52-week range of US$0.32 and US$0.1601.

More Info: Newswire

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