FSI ANNOUNCES RECORD Q4 AND FULL YEAR 2022 REVENUE
Today the Company announces a year over year increase in revenue for both fourth quarter (Q4) and full year, 2022.
VICTORIA, BRITISH COLUMBIA, Jan. 12, 2023 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces a year over year increase in revenue for both fourth quarter (Q4) and full year, 2022.
Sales were significantly higher in Q4, 2022 compared to Q4, 2021. Flexible Solutions’ top line revenue increased from $9.04 million (Q4, 2021) to $12.1 million (Q4, 2022), up approximately 34% year over year. FSI experienced growth across all quarters of 2022 and in all market segments. Full year revenue increased from $34.4 million in 2021 to $45.7 million in 2022, a full year increase of 33%.
Mr. Dan O’Brien, CEO, comments, “This level of growth, sustained over an entire year, can only happen when every person in the Company does their best. I’m proud of what we have achieved together.”
Complete financial results will be available on March 31, 2023 concurrent with the Company’s SEC Full year filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, the following business day, Monday, April 3, 2023. See the FSI March 31, 2023 financials news release for the dial in numbers.
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavrTM, the world’s first commercially viable water evaporation retardant. WaterSavrTM reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. HeatsavrTM, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.
Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
Flexible Solutions International
6001 54th Ave, Taber, Alberta, CANADA T1G 1X4
Company Contacts
Jason Bloom
Toll Free: 800.661.3560
Fax: 403.223.2905
Email: [email protected]
To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com
If you have received this news release by mistake or if you would like to be removed from our update list please reply to: [email protected]
