Cyanotech Corporation (CYAN) Bundle
A Brief History of Cyanotech Corporation (CYAN)
Foundation and Early Days
Foundation and Early Days
Cyanotech Corporation was founded in 1983 in Kailua-Kona, Hawaii. The company specialized in the cultivation of microalgae for nutritional products. Its primary focus was on the production of Astaxanthin, a powerful antioxidant derived from the microalga Haematococcus pluvialis.
Initial Public Offering
In 1993, Cyanotech went public, trading on the NASDAQ under the ticker symbol CYAN. The initial offering price was set at $5.00 per share, raising approximately $3.5 million for the company.
Product Development and Diversification
The company developed a variety of products, including nutritional supplements such as BioAstin, and expanded its product offerings to include spirulina-based products. By 2000, sales of BioAstin had reached approximately $5 million.
Financial Performance Over the Years
| Year | Revenue ($ million) | Net Income ($ million) | EPS ($) |
|---|---|---|---|
| 2015 | 12.7 | 0.4 | 0.03 |
| 2016 | 14.4 | 0.8 | 0.05 |
| 2017 | 16.2 | 1.1 | 0.06 |
| 2018 | 18.5 | 1.5 | 0.07 |
| 2019 | 20.0 | 1.7 | 0.08 |
| 2020 | 21.5 | 1.8 | 0.09 |
| 2021 | 22.8 | 2.0 | 0.10 |
| 2022 | 23.5 | 2.2 | 0.11 |
Research and Development Investments
Throughout its history, Cyanotech has invested heavily in research and development. In 2021, the company allocated approximately $1.5 million, focusing on enhancing cultivation techniques and product formulations.
Market Presence and Distribution
Cyanotech's products are distributed worldwide, with a significant presence in North America, Europe, and Asia. As of 2022, the company reported that over 70% of its revenue came from international sales.
Recent Developments and Future Outlook
In 2022, Cyanotech announced plans for expanding its production capacity by 30% to meet increasing global demand. The company projected revenue growth of 10% annually for the next five years.
A Who Owns Cyanotech Corporation (CYAN)
Shareholder Distribution
Shareholder Distribution
The ownership of Cyanotech Corporation (CYAN) is varied among institutional investors, insiders, and retail investors. The following table summarizes the latest shareholder distribution data:
| Shareholder Type | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 32.5% | 1,300,000 |
| Insider Ownership | 25.7% | 1,020,000 |
| Retail Investors | 41.8% | 1,670,000 |
Major Institutional Shareholders
Several key institutional investors hold significant shares in Cyanotech Corporation. The following table lists the major institutional shareholders as of the latest SEC filings:
| Institution | Percentage Ownership | Number of Shares |
|---|---|---|
| BlackRock, Inc. | 10.2% | 408,000 |
| Vanguard Group, Inc. | 9.5% | 380,000 |
| Dimensional Fund Advisors LP | 7.8% | 312,000 |
| State Street Corporation | 5.0% | 200,000 |
Insider Ownership and Management
Insider ownership plays a crucial role in determining the governance and operational decisions of Cyanotech Corporation. The following table showcases the primary insiders and their respective ownership percentages:
| Name | Position | Ownership Percentage | Number of Shares |
|---|---|---|---|
| Dr. Gerald R. Cysewski | CEO | 12.0% | 480,000 |
| Dr. Robert J. B. Wagner | Chairman | 8.0% | 320,000 |
| Mary A. Baird | CFO | 5.0% | 200,000 |
Market Capitalization
The current market capitalization of Cyanotech Corporation is essential for understanding its financial health. As of the latest trading day, the market cap is:
- Market Capitalization: $15.5 million
Recent Stock Performance
The stock performance of Cyanotech Corporation shows fluctuations that may reflect broader market trends. The following table details recent performance metrics:
| Date | Closing Price | Volume |
|---|---|---|
| 2023-10-01 | $4.75 | 50,000 |
| 2023-10-02 | $4.90 | 40,000 |
| 2023-10-03 | $5.00 | 30,000 |
Future Outlook
Analysts project potential growth and challenges for Cyanotech Corporation. Some key financial metrics to consider include:
- Projected Revenue Growth (2023): 15%
- Projected EPS (Earnings Per Share) Growth (2023): $0.10
- Debt to Equity Ratio: 0.25
Cyanotech Corporation (CYAN) Mission Statement
Core Mission
The mission of Cyanotech Corporation is to produce and market high-quality natural products derived from microalgae, particularly focusing on nutritional supplements and cosmetics. Their commitment is grounded in sustainability and health.
Vision Statement
Cyanotech envisions a world where people can thrive by accessing the highest quality natural products that contribute to their well-being and enhance their quality of life.
Values and Principles
- Innovation: Commitment to research and development for new products.
- Sustainability: Focus on environmentally sustainable practices in production.
- Quality: Ensure the highest standards of quality in all products.
- Integrity: Upholding ethical business practices.
- Health: Promoting health and wellness globally through natural solutions.
Financial Overview
As of the latest financial reports for the fiscal year 2023, Cyanotech Corporation reported the following key figures:
| Metric | Value |
|---|---|
| Revenue | $11.6 million |
| Net Income | $1.2 million |
| Total Assets | $19.4 million |
| Total Equity | $14.5 million |
| Market Capitalization | $32.2 million |
Target Markets
Cyanotech focuses on several key segments, including:
- Health and wellness industry
- Cosmetics and personal care
- Food and beverage sector
- Pharmaceuticals
Proven Product Lines
Cyanotech has developed a robust portfolio of microalgae-based products:
| Product | Type | Market Segment |
|---|---|---|
| Astaxanthin | Nutritional Supplement | Health & Wellness |
| Spirulina | Nutritional Supplement | Health & Wellness |
| BioAstin | Nutraceutical | Cosmetics |
| Hawaiian Spirulina | Superfood | Food & Beverage |
Research and Development Investments
In the fiscal year 2023, Cyanotech invested significantly in R&D, contributing approximately $1.5 million to enhance their product offerings and improve production processes.
Sustainability Initiatives
Cyanotech’s operational strategies include a strong commitment to sustainability:
- Utilization of renewable energy sources for production.
- Minimization of waste through efficient resource management.
- Engagement in community education about the benefits of microalgae.
Partnerships and Collaborations
Cyanotech has established strategic alliances to bolster its market position:
- Collaboration with academic institutions for research innovation.
- Partnerships with distributors to expand market reach.
- Engagement with sustainability organizations to enhance eco-friendly practices.
Future Outlook
With a growing demand for natural supplements, Cyanotech projects steady growth. The forecast for revenue in 2024 is approximately $13 million, reflecting a commitment to increasing market share and expanding product lines.
How Cyanotech Corporation (CYAN) Works
Company Overview
Company Overview
Cyanotech Corporation, a publicly traded company on the NASDAQ under the symbol CYAN, specializes in the production of microalgae-based products. The company focuses on cultivating spirulina and astaxanthin, which are recognized for their nutritional and health benefits.
Production Process
The production of cyanobacteria and microalgae involves several stages:
- Photobioreactors: Utilization of closed systems that optimize the growth of algae through controlled conditions.
- Harvesting: Recovery of biomass usually through centrifugation or filtration techniques.
- Processing: Drying and powdering algae to create supplements and functional ingredients.
Financial Performance
Cyanotech’s financial performance, as of the latest fiscal year ending March 31, 2023, indicates:
| Financial Metrics | Amount (in USD) |
|---|---|
| Total Revenue | $11.3 million |
| Net Income | $0.8 million |
| Gross Profit | $3.4 million |
| Operating Expenses | $2.5 million |
| Earnings per Share (EPS) | $0.02 |
| Assets | $15.5 million |
| Liabilities | $3.2 million |
| Shareholder Equity | $12.3 million |
Market Position
Cyanotech operates within the nutraceutical market, which has been growing significantly. The global nutraceutical market size was valued at approximately $382.5 billion in 2020 and is projected to reach $610.1 billion by 2028, growing at a CAGR of 7.7%.
Product Lines
The main product lines that Cyanotech offers include:
- Spirulina Pacifica: A natural source of protein, vitamins, and antioxidants.
- AstaGreens: A premium astaxanthin product known for its high antioxidant capacity.
- Nutrex Hawaii: A brand under which its products are marketed and sold.
Customer Segments
Cyanotech primarily serves the following customer segments:
- Health and wellness retailers
- Online supplement distributors
- Food and beverage manufacturers
- Pharmaceutical companies
Growth Strategy
The company aims to enhance growth through:
- Innovation in product development
- Expansion into international markets
- Strengthening supply chain efficiency
Sustainability Practices
Cyanotech emphasizes sustainability in its operations by:
- Utilizing renewable energy sources in production
- Implementing water conservation methods
- Ensuring responsible sourcing of raw materials
Recent Developments
Recent advancements include:
- New product launches focused on vegan and plant-based nutrition.
- Partnerships with research institutions to enhance algae cultivation techniques.
- Investment in marketing strategies to increase brand awareness.
How Cyanotech Corporation (CYAN) Makes Money
Overview of Revenue Streams
Cyanotech Corporation (CYAN) generates revenue primarily through the production and sale of nutritional products derived from microalgae. Their product portfolio mainly includes spirulina and astaxanthin, which are marketed for their health benefits. In fiscal year 2023, Cyanotech reported revenues of approximately $15.6 million.
Product Segmentation
The company’s revenue is derived from several key product segments, which are categorized as follows:
| Product Category | Revenue (FY 2023) | Percentage of Total Revenue |
|---|---|---|
| Spirulina Products | $9.2 million | 59% |
| Astaxanthin Products | $5.6 million | 36% |
| Other Products | $0.8 million | 5% |
Sales Channels
Cyanotech's sales are conducted through various channels, including:
- Direct-to-Consumer Sales
- Wholesale Distribution
- Online Retail Platforms
- Nutritional Supplements Market
Geographic Revenue Distribution
The geographic breakdown of Cyanotech's revenue shows a diverse market approach, with significant sales in North America and Asia:
| Region | Revenue (FY 2023) | Percentage of Total Revenue |
|---|---|---|
| North America | $10 million | 64% |
| Asia | $3 million | 19% |
| Europe | $2.2 million | 14% |
| Other Regions | $0.4 million | 3% |
Cost Structure
Cyanotech’s cost structure includes production, operational, and marketing expenses, crucial for maintaining profitability:
- Cost of Goods Sold (COGS): $8 million
- Operating Expenses: $4 million
- Marketing and Advertising: $1 million
- Research and Development: $0.5 million
Profitability
The net income reported by Cyanotech for the fiscal year 2023 was approximately $1.2 million, reflecting a net profit margin of about 7.7%.
Market Trends and Growth Opportunities
Current market trends indicate a growing demand for natural health supplements, which presents significant growth opportunities for Cyanotech. The global spirulina market size was valued at $364 million in 2023, with a projected CAGR of 9.3% from 2024 to 2030.
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