Flexible Solutions International, Inc. Announces Revenue Results for the Fourth Quarter and Full Year of 2022
January 12, 2023 at 09:00 am EST
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Flexible Solutions International, Inc. announced revenue results for the fourth quarter and full year of 2022. The company announced a year-over-year increase in revenue for both fourth quarter and full year 2022. The company's sales were significantly higher in the fourth quarter, 2022 compared to the fourth quarter, 2021. Flexible Solutions' top line revenue increased from $9.04 million (the fourth quarter, 2021) to $12.1 million (the fourth quarter, 2022), up approximately 34% year over year.
The company 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%.
Flexible Solutions International, Inc. is engaged in manufacturing and marketing biodegradable polymers which are used in the oil, gas and agricultural industries. The Company also develops, manufactures and markets specialty chemicals that slow the evaporation of water. Its products include HEATSAVR and WATERSAVR. Its segments include Energy and water conservation products (EWCP), and Biodegradable polymers (TPAs). Its EWCP segment consists of liquid swimming pool blankets which save energy and water by inhibiting evaporation from the pool surface, and a food-safe powdered form of the active ingredient within the liquid blankets and which are designed to be used in still or slow-moving drinking water sources. Its TPA segment is used by the petroleum, chemical, utility and mining industries to prevent corrosion and scaling in water piping. This product can also be used in detergents to increase biodegradability and in agriculture to increase crop yields by enhancing fertilizer uptake.
FLEXIBLE SOLUTIONS INTERNATIONAL, INC. 
