The 56% revenue collapse and tripling of net losses signal severe operational deterioration. Monitor the next 10-Q for evidence of a turnaround or further cash burn; the proxy's lack of shareholder proposals or governance challenges suggests limited near-term activist pressure.
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Executive Summary
BioLargo's 2026 definitive proxy statement schedules director elections, an advisory say-on-pay vote, and ratification of auditors. The filing reveals a sharp revenue decline from $17.8M in FY2024 to $7.8M in FY2025, a net loss widening to $15.2M, and flat CEO cash compensation of $288,603. No shareholder proposals, contested director seats, or related-party transactions above the disclosure threshold are present.
Key Facts
- Revenue fell from $17,779,000 in FY2024 to $7,765,000 in FY2025 — a 56% decline.
- Net loss widened from $4,347,000 in FY2024 to $15,189,000 in FY2025.
- CEO Dennis Calvert's total compensation was $317,790 in FY2025, essentially flat vs $317,952 in FY2024.
- CFO Charles Dargan received no cash compensation; his compensation was entirely option-based ($217,962 in FY2025).
- No shareholder proposals were submitted for the 2026 annual meeting.
- All seven director nominees are incumbents; no contested elections.
- No related-party transactions exceeding $120,000 were disclosed.
- The board recommends a FOR vote on all three proposals: director elections, say-on-pay, and auditor ratification.
Financial Impact
Revenue declined ~56% YoY to $7.8M; net loss increased ~249% to $15.2M
Risk Factors
- Sustained revenue decline and widening losses may pressure liquidity and equity valuation.
- Insider ownership at 19.9% concentrated among directors/officers reduces external governance checks.
- No shareholder proposals or contested director elections indicate passive institutional base.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001437749-26-032868 |
| Document: 0001437749-26-032868-index-headers.html | 0001437749-26-032868 |
| Document: 0001437749-26-032868-index.html | 0001437749-26-032868 |
| Document: 0001437749-26-032868.txt | 0001437749-26-032868 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | DEF 14A | $0.0700 | awaiting T+60 | — | $0.0700 (−0.00%) |
Sep 11, 2026 6w ago | 8-K | $0.1000 | awaiting T+60 | — | $0.0700 (−30.00%) |
May 4, 2026 25w ago | 8-K | $0.1600 $0.1117 | ▼ −30.19% | ▼ −32.04% | $0.0700 (−56.25%) |
Apr 17, 2026 27w ago | 424B4 | $0.1500 $0.1120 | ▲ +25.33% | ▲ +32.11% | $0.0700 (+53.33%) |
Apr 17, 2026 27w ago | 424B4 | $0.1500 $0.1120 | ▲ +25.33% | ▲ +32.11% | $0.0700 (+53.33%) |
Mar 5, 2026 33w ago | 8-K | $0.1700 $0.1200 | ▲ +29.41% | ▲ +40.71% | $0.0700 (+58.82%) |
US Market Status
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