Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended March 31, 2019 Commission File Number 0-14602 CYANOTECH CORPORATION (Exact name of registrant as specified in its charter) Nevada 91-1206026 (State or other jurisdiction of incorporation or organization) (I. R. S. Employer Identification No.) 73-4460 Queen Kaahumanu Highway, Suite 102, Kailua-Kona, ...

Financial Data and Key Metrics Changes - The company achieved record sales for the third quarter, exceeding $10 million in net sales, an increase of $894,000 or 9.8% compared to the prior year [3][4] - Gross profit was $4.12 million, down $124,000 from the same quarter last year, with gross profit as a percentage of sales decreasing to 41% from 46.3% [4][5] - Net income for the quarter was $288,000, a significant decrease from $1.1 million in the same quarter last year, with diluted earnings per share dropping to $0.05 from $0.19 [5] Business Line Data and Key Metrics Changes - Spirulina sales increased by $658,000, representing a 21.3% increase, while astaxanthin sales rose by $236,000 or 9% compared to the same quarter last year [4] - Astaxanthin sales included a $1.2 million increase in sales to Amazon and Costco, but were partially offset by a $700,000 decrease in international sales [4] Market Data and Key Metrics Changes - The company faced challenges in production due to the unpredictable nature of agriculture, impacting overall profitability [6] Company Strategy and Development Direction - The company aims to improve profit margins and profitability while enhancing cultivation techniques and technologies [6] - There is a commitment to deepening brand awareness in the consumer market and exploring new revenue opportunities, including extraction services for other companies [6] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the record sales numbers but noted dissatisfaction with current profit margins [3] - The company is determined to improve supply stability to support its farm proposition and is focused on long-term growth opportunities [6] Other Important Information - Operating expenses increased by $471,000 primarily due to higher advertising and promotional costs, while general and administrative expenses remained consistent with the prior year [4] Q&A Session Summary Question: No questions were received from shareholders during the call - Management concluded the call with remarks on sales performance and future strategies without addressing specific shareholder inquiries [6]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For Quarterly Period Ended December 31, 2018 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period From to Commission File Number 0-14602 CYANOTECH CORPORATION (Exact name of registrant as specified in its charter) NEVADA 91-1206026 (State or other jurisdi ...