BioHarvest Sciences (BHST)
NASDAQ:BHST
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BioHarvest Sciences
(NASDAQ:BHST)
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Rating:48Neutral
Price Target:
$4.00
▼(-64.54% Downside)
Action:ReiteratedDate:04/04/26
The score is held down primarily by ongoing cash burn and lack of profitability, alongside weak technical trend signals (trading below key moving averages with negative MACD). Offsetting these risks, the latest earnings call pointed to strong revenue growth, improving margins/operating leverage, a much stronger cash position, and constructive 2026 targets (D2C profitability and higher CDMO revenue), which provide a meaningful—but not yet proven—upside catalyst.
Positive Factors
D2C Revenue Scale & Recurring Base
VINIA's sizable D2C revenue and 85k+ active users create a durable recurring-revenue base from subscriptions and direct relationships. Scale and brand leadership reduce reliance on paid acquisition alone, support higher lifetime value per customer, and underpin predictable revenue as marketing shifts to digital.
Negative Factors
Persistent Negative Cash Flow
Despite revenue growth, continued negative operating and free cash flow means the company remains dependent on external funding until sustained FCF positivity. That reliance can force dilution or higher-cost capital, constrain investment cadence, and limit flexibility to scale CDMO capacity or marketing aggressively.
Read all positive and negative factors
Positive Factors
Negative Factors
D2C Revenue Scale & Recurring Base
VINIA's sizable D2C revenue and 85k+ active users create a durable recurring-revenue base from subscriptions and direct relationships. Scale and brand leadership reduce reliance on paid acquisition alone, support higher lifetime value per customer, and underpin predictable revenue as marketing shifts to digital.
Read all positive factors
BioHarvest Sciences (BHST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$97.47M
Dividend YieldN/A
Average Volume (3M)78.84K
Price to Earnings (P/E)―
Beta (1Y)0.65
Revenue Growth45.88%
EPS Growth43.12%
CountryUS
Employees87
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)-0.10
Shares Outstanding22,667,843
10 Day Avg. Volume86,360
30 Day Avg. Volume78,844
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)3.75
Price to Sales (P/S)2.77
P/FCF Ratio-9.97
Enterprise Value/Market Cap0.68
Enterprise Value/Revenue1.93
Enterprise Value/Gross Profit3.25
Enterprise Value/Ebitda-9.90
Forecast
1Y Price Target
$12.00Price Target Upside6.38% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.35
Revenue Forecast (FY)$44.17M
BioHarvest Sciences Business Overview & Revenue Model
Company Description
BioHarvest Sciences (BHST) is a biotechnology company specializing in the development and commercialization of innovative plant-based products for the health and wellness sectors. The company leverages its proprietary technology to produce high-qu...
How the Company Makes Money
BioHarvest makes money primarily by selling products derived from its plant-cell cultivation platform. Its revenue model includes: (1) Product sales of nutraceutical/dietary supplement offerings sold as finished goods (e.g., capsules/softgels or o...
BioHarvest Sciences Earnings Call Summary
Earnings Call Date:Mar 31, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jun 03, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum: robust revenue growth (Q4 +25%, FY +37%), improved margins, positive adjusted EBITDA in Q4, a materially stronger cash position, successful product launch traction (VINIA BloodFlow Hydration), expanding D2C scale and market leadership, and tangible scientific and commercial progress in the CDMO pipeline (notably a claimed first-ever Stage 1 fragrance cell culture with retained ownership). Management also outlined deliberate investments to scale CDMO capabilities and to premiumize the VINIA portfolio. Near-term challenges include continued GAAP losses, higher absolute operating spend for growth, modest third-party CDMO revenue today and long development timelines, channel concentration risks, and geopolitical supply‑chain uncertainty. On balance, the highlights (growth, margin improvement, cash build, product and R&D breakthroughs, and scalable go-to-market shifts) outweigh the lowlights, supporting an overall positive outlook for 2026 and beyond.Positive Updates
Strong Revenue Growth
Q4 2025 revenues of $9.1M, up 25% year-over-year; full-year 2025 revenues of $34.5M, up 37% versus prior year.
Negative Updates
Net Loss and Near-Term Profitability Pressure
Net loss in Q4 2025 was $2.2M ($0.10/share), although improved from $3.0M ($0.17/share) year-ago; company still operating at a GAAP loss while making incremental investments that pressure near-term profits.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Revenue Growth
Q4 2025 revenues of $9.1M, up 25% year-over-year; full-year 2025 revenues of $34.5M, up 37% versus prior year.
Read all positive updates
Company Guidance
Management guided that the direct‑to‑consumer (D2C) VINIA business is expected to achieve profitability in 2026 and the CDMO business is targeted to generate $4–6 million of external revenue in 2026; they described 2026 revenue growth as nonlinear (moderate Q1 with acceleration in Q2–Q4). Key metrics and starting points: FY‑2025 revenue $34.5M (+37% YoY) with Q4 revenue $9.1M (+25% YoY); VINIA D2C revenue $30.6M and >85,000 active users as of March 2026 (vinia.com ≈80% of sales, >90% of those subscription; Amazon ≈20%); Q4 gross profit $5.2M and gross margin 58% (Q4) / 59% (FY) (+100 bps Q4 YoY, +400 bps FY YoY) with an aspiration toward ~64–65% over time (modeling 0.5–1 ppt improvement per quarter); Q4 operating expenses $6.3M (70% of revenue vs 80% prior), Q4 net loss $2.2M ($0.10/sh), Q4 adjusted EBITDA $0.5M (vs -$1.8M year‑ago), and cash of $23.0M at 12/31/25 (vs $2.4M prior). Product and go‑to‑market metrics cited: VINIA BloodFlow Hydration (launched Dec 3) is the #2 contributor to incremental new customer sales (15% of new‑customer revenue YTD on vinia.com), rated 4.8/5 on vinia.com (>90 reviews) and 4.9/5 on Amazon (~50 reviews), commanding ~50% price premium, with >1,300 signups to a 30‑day challenge; Health Pros = 250 partners (adding 25–50/mo) and delivered >10% of incremental new‑customer revenue in March. CDMO specifics: ~$2M of third‑party CDMO revenue in 2025 (≈$9M total activity including internal VINIA supply), development programs typically $2–3M over 18–27 months, fragrance Stage‑1 complete with biomass for pre‑commercial testing in 6–9 months and industrial scale in 12–18 months, some manufacturing revenue expected in late‑2027 for certain programs, and BioHarvest retains ~20% ownership in some developed compositions.BioHarvest Sciences Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
58
Neutral
Cash Flow
34
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 34.51M | 25.19M | 12.67M | 5.50M | 2.10M |
| Gross Profit | 20.48M | 13.94M | 5.63M | 1.22M | 670.00K |
| EBITDA | -6.71M | -9.72M | -9.76M | -9.13M | -8.64M |
| Net Income | -11.13M | -12.91M | -12.56M | -11.24M | -9.83M |
Balance Sheet | |||||
| Total Assets | 47.66M | 25.00M | 15.00M | 9.39M | 10.21M |
| Cash, Cash Equivalents and Short-Term Investments | 23.02M | 2.39M | 5.36M | 1.74M | 4.12M |
| Total Debt | 14.10M | 13.82M | 22.34M | 10.56M | 2.66M |
| Total Liabilities | 22.22M | 23.67M | 29.86M | 15.32M | 7.35M |
| Stockholders Equity | 25.45M | 1.33M | -14.85M | -5.93M | 2.85M |
Cash Flow | |||||
| Free Cash Flow | -9.58M | -9.52M | -10.00M | -10.50M | -8.43M |
| Operating Cash Flow | -7.23M | -6.68M | -8.52M | -9.24M | -6.79M |
| Investing Cash Flow | -2.37M | -3.03M | -1.47M | -1.26M | -1.64M |
| Financing Cash Flow | 30.19M | 6.78M | 13.56M | 8.14M | 10.77M |
BioHarvest Sciences Technical Analysis
Positive
11.28
Price Trends
4.43
Negative
4.96
Negative
6.85
Negative
Market Momentum
-0.04
Negative
50.07
Neutral
19.44
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BHST, the sentiment is Positive. The current price of 11.28 is above the 20-day moving average (MA) of 4.31, above the 50-day MA of 4.43, and above the 200-day MA of 6.85, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 50.07 is Neutral, neither overbought nor oversold. The STOCH value of 19.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BHST.
BioHarvest Sciences Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $89.95M | 1.63 | 11.71% | 3.93% | -8.09% | -15.28% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | $298.70M | -3.79 | -36.02% | ― | 159.45% | 8.59% | |
48 Neutral | $97.47M | -8.58 | -158.60% | ― | 45.88% | 43.12% | |
48 Neutral | $195.19M | -1.21 | -179.42% | ― | ― | 99.21% | |
47 Neutral | $113.97M | -0.95 | -2983.24% | ― | -37.13% | 40.47% | |
46 Neutral | $185.46M | 811.87 | -0.04% | ― | -33.41% | 81.19% |
* Consumer Defensive Sector Average
BHST
BioHarvest Sciences
4.35
-1.46
-25.12%
AGEN
Agenus
4.79
2.48
107.36%
SGMO
Sangamo Therapeutics
0.26
-0.47
-64.40%
HURA
TuHURA Biosciences
2.92
-1.28
-30.48%
IH
iHuman
1.71
-0.16
-8.36%
PRE
Prenetics Group
17.83
13.53
314.65%
BioHarvest Sciences Corporate Events
BioHarvest’s VINIA Becomes Top U.S. Resveratrol Polyphenol Brand as DTC Sales Surge
Mar 27, 2026
On March 26, 2026, BioHarvest Sciences reported that its VINIA brand has become the No. 1 resveratrol polyphenol nutraceutical brand in the United States by 2025 sales revenue, as measured against market estimates and major retail channels. Manage...
BioHarvest Sciences Sets March 31, 2026 Date for Q4 and Full-Year 2025 Results
Mar 17, 2026
BioHarvest Sciences Inc. announced on March 17, 2026, that it will report its fourth quarter and full year 2025 financial results after the market close on Tuesday, March 31, 2026. The company will host a conference call and webcast at 4:30 p.m. E...
BioHarvest Sciences Grants Long-Term Equity Incentives to Align Team with Growth Strategy
Mar 16, 2026
On March 13, 2026, BioHarvest Sciences announced that its board approved long-term equity incentive awards for employees, officers and directors under the company’s equity plan. The package comprises 516,812 stock options and 264,121 restric...
BioHarvest Sciences Refreshes Board With Former Israeli Health Chief
Mar 6, 2026
BioHarvest Sciences reported a boardroom reshuffle tied to a material change dated March 3, 2025, disclosed in a March 6, 2026 filing. The company announced that long-serving director David Tsur, who had been on the board since 2021, resigned and ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.