BioLargo, Inc. operates through multiple subsidiaries with a portfolio of 34 patents focused on odor control, energy storage batteries, and medical wound care products. Revenue expanded from $281K in 2016 to $12.2M in 2023, yet operating losses widened sharply to $14.9M by 2025 amid sustained R&D investment and scale-up efforts. The company’s liquidity remains tight with current assets of $5.1M nearly matching current liabilities of $5.1M at year-end 2025. Capital has been raised primarily via equity sales under a Lincoln Park purchase agreement, generating over $3 million gross proceeds in 2025. Growth depends on commercializing technologies like the Cellinity™ liquid sodium battery and CupriDyne® Clean odor solutions while managing risks from key customer defaults and operational scaling hurdles [F1][S3][S15][S9].