Cyanotech Reports Financial Results for the Second Quarter and First Six Months of Fiscal 2025
CYANOTECH CORP (CYAN)
US:NASDAQ Investor Relations:
ruscom.com/cyan/investors/investors.html
Company Research
Source: Business Wire
KAILUA KONA, Hawaii--(BUSINESS WIRE)--Cyanotech Corporation (OTCQB: CYAN), a world leader in microalgae-based, high-value nutrition and health dietary supplement products, announced financial results for the second quarter and first six months of fiscal year 2025, ended September 30, 2024.Commenting on the second quarter fiscal year 2025 results, Cyanotech’s President and Chief Executive Officer, Matthew K. Custer, said:“In prior quarters, our inventory levels were reduced to just-in-time levels to manage cash flow and strong sales in the first quarter of fiscal 2025 decreased inventory. However, mid-quarter financing allowed us to start restocking, increasing work-in-progress inventory by $1.9 million, even though finished goods were still down by $1.5 million.”“Bulk inventory, which has a shorter production time, helped drive a 39% increase in sales, and revenue from contract extraction grew by 156%. However, packaged goods, which take longer to restock, saw a 21% decrease due t
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