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Close of 9 Nov 2026, in USD
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About Cyanotech
From its filings with the US Securities and Exchange Commission
Cyanotech is based in Kailua Kona, Hawaii and is incorporated in Nevada. Its shares trade on OTC under the ticker CYAN. The SEC classifies its business as medicinal chemicals & botanical products. In the fiscal year to 31 March 2025, it reported revenue of $24.2m and a net loss of $3.2m. At that date it held total assets of $23.5m and shareholders' equity of $8.9m.
Microalgae are a diverse group of microscopic plants that have a wide range of physiological and biochemical characteristics and contain, among other things, high levels of natural protein, amino acids, vitamins, pigments and enzymes. Microalgae have the following properties that make commercial production attractive: (1) microalgae grow much faster than land grown plants, often up to 100 times faster; (2) microalgae have uniform cell structures with no bark, stems, branches or leaves, permitting easier extraction of products and higher utilization of the microalgae cells; and (3) the cellular uniformity of microalgae makes it practical to control the growing environment in order to optimize a particular cell characteristic. Efficient and effective cultivation of microalgae requires consistent light, warm temperatures, low rainfall and proper chemical balance in a very nutrient-rich environment, free of environmental contaminants and unwanted organisms. This is a challenge that has motivated us to design, develop and implement proprietary production and harvesting technologies, systems and processes in order to commercially produce human dietary supplement products derived from microalgae.
Quoted from its 10-K, filed 20 Jun 2025. Read the filing on SEC.gov ↗
Company facts
- Sector
- Consumer Staples
- Industry
- Personal Products
- Listed since
- 21 May 1999
- Employees
- 83
- Website
- cyanotech.com ↗
- Head office
- 73-4460 QUEEN KAAHUMANU HWY, KAILUA KONA, HI, 96740
- Incorporated in
- NV
- Classification
- Medicinal Chemicals & Botanical Products
- Filer status
- Non-accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Mr. Michael DavisIndependent Chairman of the Board$50,000
- Mr. Matthew CusterPresident, Chief Executive Officer, Director, since 2019$266,388
- Ms. Jennifer MiyashiroChief Financial Officer, Vice President of Finance and Administration, Treasurer
- Dr. Gerald CysewskiChief Executive Officer - Emeritus, Chief Scientific Officer, since 1990$48,791
- Mr. Glenn JensenVice President - Operations$177,818
- Ms. Jennifer BrandVice President - Sales
- Ms. Amy NordinVice President - Human Resources, Corporate Secretary
- Ms. Jennifer JohansenVice President - Quality, Regulatory & Government Affairs
- Ms. Collette KakukChief Strategic and Commercial Officer
- Mr. David MulderIndependent Director$64,000
- Mr. David ViedIndependent Director$64,000
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Cyanotech Corp's Hawaiian Spirulina Pacifica is a dietary supplement with cardiovascular benefits and antioxidant carotenoids.
- The company cultivates over two microalgal species for its natural astaxanthin and spirulina product lines.
- Cyanotech Corp manufactures finished products in Hawaii and California, supporting domestic production.
Weaknesses
- Cyanotech Corp has only 83 employees, indicating a small operational scale.
- The company's IPO occurred in May 1999, suggesting a long-standing but potentially outdated business model.
- Cyanotech Corp is headquartered in Kailua Kona, Hawaii, limiting its geographic reach.
Opportunities
- Cyanotech Corp can expand its natural astaxanthin product line derived from microalgae cultivation.
- The company's Hawaiian BioAstin supports skin and eye health, aligning with growing wellness trends.
- Cyanotech Corp's focus on microalgae-derived products offers potential for new market segments.
Threats
- Cyanotech Corp's reliance on microalgae cultivation in Hawaii poses risks from natural disasters.
- The company's limited employee count of 83 may hinder scalability in competitive markets.
- Cyanotech Corp's products are manufactured in Hawaii and California, increasing supply chain vulnerability.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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