Bioharvest Sciences, Inc. ( (BHST) ) has released its Q3 earnings. Here is a breakdown of the information Bioharvest Sciences, Inc. presented to its investors.
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BioHarvest Sciences Inc., a biotechnology company, specializes in Botanical Synthesis technology to produce plant-based compounds for nutraceutical products and as a contract development and manufacturing organization (CDMO). The company recently reported a 39% year-over-year increase in third-quarter revenues, reaching $9.1 million, driven by strong performance in its VINIA product line and new CDMO partnerships. Gross profit margins improved to 61%, and the company strengthened its balance sheet with a $19.9 million institutional equity raise. Key highlights include the successful production of plant-based exosomes and the launch of a new VINIA Blood Flow Hydration Solution targeting the U.S. electrolyte hydration market. Despite a net loss of $2.5 million, BioHarvest’s adjusted EBITDA loss narrowed significantly compared to the previous year. Looking forward, the company is poised to capitalize on its robust financial position to pursue strategic growth opportunities and enhance shareholder value.