Q1 2026 Revenue Up 8% to $8.5M, Net Loss Widens to $2.6M; CDMO Projects Advance

summarizeSummary

BioHarvest Sciences reported an 8% year-over-year revenue increase to $8.5 million for Q1 2026, alongside a widened net loss of $2.6 million. The company highlighted significant progress in its CDMO division with two projects advancing to Stage 2, and growth in its D2C VINIA product line.

check_boxKey Events

• Q1 2026 Financial Results

  Total revenues increased 8% year-over-year to $8.5 million, with gross margins at 59%. Net loss widened to $2.6 million from $2.3 million in the prior year, and Adjusted EBITDA loss was $1.2 million.

• Strong Cash Position

  Cash and cash equivalents, including bank deposits, totaled $20.2 million as of March 31, 2026, providing financial runway.

• CDMO Projects Advance

  Two major Botanical Synthesis programs (rare fragrance and Saffron compounds) successfully advanced to Stage 2 development, with combined agreements valued at over $2 million, expanding future royalty and manufacturing opportunities.

• VINIA Product Growth

  The VINIA brand's customer base grew to 90,000 active users, and the new Blood Flow Hydration product generated $920,000 in cumulative revenue since its November 2025 launch.

auto_awesomeAnalysis

BioHarvest Sciences reported mixed first-quarter results with revenue growth driven by its CDMO division and new product launches, but also a widening net loss. The company's cash position remains strong at $20.2 million. The advancement of two major CDMO projects into Stage 2, valued at over $2 million combined, provides a positive outlook for future royalty and manufacturing revenues, aligning with the company's 'two-lens' strategy. This filing provides detailed financial and operational updates following a previous summary of Q1 results on the same day that mentioned a 'going concern', which is not present in this detailed news release.