Blue Star reports further losses, but soft-shell crab RAS revenue grows

Blue Star Foods reported a net loss of USD 3.7 million (EUR 3.6 million) in the third quarter of 2022, but it increased its quarterly revenue from its soft-shell crab recirculating aquaculture system (RAS) to USD 500,000 (EUR 481,000).

The Miami, Florida, U.S.A.-based seafood supplier reported a 28 percent revenue increase to USD 10.7 million (EUR 10.3 million) for the first nine months of the year. It had posted losses of USD 1.4 million (EUR 1.4 million) in Q2 2022 and a loss of USD 162,000 (EUR 156,000) in Q2 2021.

“Our top-line revenue has continued as expected and we believe we remain on track to nearly double revenue for all of 2022,” Blue Star Chairman and CEO John Keeler said ...