CYANOTECH CORP (PK:CYAN)

Business Focus: Pharmaceuticals

Sector:  Healthcare Industry:  Pharmaceuticals
 
See Regulatory Filings on SEC
Company Contact
Address: 73-4460 Queen Kaahumanu Hwy, Suite #102
KAILUA KONA HI 96740
Tel: 1-310-3466131
Website: https://www.cyanotech.com
IR: See website
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Key People
Matthew K. Custer
President, Chief Executive Officer, Director
Felicia Ladin
Chief Financial Officer, Vice President of Finance and Administration, Treasurer
Gerald R. Cysewski
Chief Executive Officer Emeritus, Chief Scientific Officer
Glenn D. Jensen
Vice President - Operations
Charles J. Hartmann
Vice President of Sales and Marketing
Amy B. Nordin
Vice President of Human Resources, Secretary
Jennifer M. Johansen
Vice President - Quality, Regulatory and Government Affairs
   
Business Overview
Cyanotech Corporation is an agricultural company. It is engaged in the production of natural products derived from microalgae grown in complex and intricate agricultural systems on the Kona coast of Hawaii. It cultivates, on a large-scale basis, two microalgal species from which its two major product lines, natural astaxanthin products and spirulina products, are derived. Its products include BioAstin Hawaiian Astaxanthin and Hawaiian Spirulina Pacifica. BioAstin Hawaiian Astaxanthin is a dietary antioxidant shown to support and maintain the body's natural inflammatory response, to enhance skin, and to support eye, joint and immune health. BioAstin Hawaiian Astaxanthin has expanding applications as a human dietary supplement and dietary ingredient. Hawaiian Spirulina Pacifica is a nutrient-rich dietary supplement used for extra energy, a strengthened immune system, cardiovascular benefits and as a source of antioxidant carotenoids. Its products are sold as consumer-packaged goods.
Financial Overview
For the nine months ended 31 December 2023, CYANOTECH CORP revenues decreased 4% to $17.1M. Net loss increased 59% to $3.2M. Revenues reflect Spirulina bulk segment decrease of 64% to $1M, Contract extraction revenue segment decrease of 51% to $258K. Higher net loss reflects Sales/Marketing increase of 21% to $4M (expense), Interest expense increase of 49% to $495K (expense).
Employees: 86 as of Mar 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $8.17M as of Dec 31, 2023
Annual revenue (TTM): $22.49M as of Dec 31, 2023
EBITDA (TTM): -$2.32M as of Dec 31, 2023
Net annual income (TTM): -$4.62M as of Dec 31, 2023
Free cash flow (TTM): -$0.55M as of Dec 31, 2023
Net Debt Last Fiscal Year: $6.15M as of Dec 31, 2023
Shares outstanding: 6,941,763 as of Mar 13, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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