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BioHarvest Sciences (BHST)
NASDAQ:BHST
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BioHarvest Sciences
(NASDAQ:BHST)
Rating:54Neutral
Price Target:
$9.50
▲(8.82% Upside)
Positive Factors
Product Diversification
The company is expecting revenue contribution from five products by the end of 2025, demonstrating product expansion and diversification.
Revenue Growth
BioHarvest Sciences Inc. reported revenues of $7.9M, showing a 47% year-over-year increase, indicating strong growth.
Strategic Partnerships
BioHarvest has signed CDMO contracts with three partners, including Tate & Lyle PLC, indicating strategic growth in the pharmaceutical and other industries.
Negative Factors
Capital Raising Needs
The company may need to raise capital before the end of 1Q25 to pay down its convertible loans and fund operations for 1H25.
Revenue Guidance
The 3Q25 revenue guidance is below prior consensus and previous estimates.
Revenue Guidance Miss
Management introduced 2Q25 revenue guidance of at least $8.5M, up 41.0% y/y, but below prior consensus of $8.9M, and our prior estimate of $9.2M.
BioHarvest Sciences (BHST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$151.32M
Dividend YieldN/A
Average Volume (3M)15.03K
Price to Earnings (P/E)―
Beta (1Y)0.53
Revenue Growth57.83%
EPS Growth40.94%
CountryUS
Employees87
SectorConsumer Defensive
Sector Strength54
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)-0.24
Shares Outstanding17,333,430
10 Day Avg. Volume21,686
30 Day Avg. Volume15,034
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap1.14
Enterprise Value/Revenue5.73
Enterprise Value/Gross Profit9.87
Enterprise Value/Ebitda-29.69
Forecast
1Y Price Target
$12.63Price Target Upside44.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
BioHarvest Sciences Business Overview & Revenue Model
Company DescriptionBioHarvest Sciences Inc. operates as a biotechnology company. The company operates through Nutraceuticals and Pharmaceuticals segments. It develops botanical synthesis platform technology to grow the ingredients in any plant enzymes or cells. The company is leveraging its botanical synthesis technology to develop science-based and clinically proven therapeutic solutions in nutraceuticals and pharmaceuticals verticals. It also operates as a contract development and manufacturing operation services. In addition, the company offers wellness products. Further, it offers VINIA, a red grape cell dietary supplement containing the matrix of polyphenols contained in red grapes. The company operates in Israel and the United States. BioHarvest Sciences Inc. is based in Vancouver, Canada.
How the Company Makes MoneyBioHarvest Sciences generates revenue primarily through the sale of its plant-based products created using its proprietary biofarming technology. The company's key revenue streams include the direct sale of health and wellness products, such as dietary supplements, which are distributed through various retail and online channels. Additionally, BHST may engage in strategic partnerships or licensing agreements with other companies in the nutraceutical and pharmaceutical industries to further monetize its technology and expand its market reach. These partnerships can also contribute to its earnings through royalties or shared profits from joint ventures.
BioHarvest Sciences Earnings Call Summary
Earnings Call Date:Aug 11, 2025
(Q2-2025)
| % Change Since: -0.34%|
Next Earnings Date:Dec 01, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue growth, gross margin expansion, and success in both product and CDMO divisions, indicating strong operational momentum. However, increased operating expenses and net losses present challenges. The launch of new products and strategic programs, such as the Health Pros' Affiliate program, are positive indicators for future growth.Q2-2025 Updates
Positive Updates
Revenue Growth
Revenue rose 41% year-over-year to $8.5 million, in line with guidance, driven by performance across vinia.com, Amazon, and CDMO services.
Gross Margin Expansion
Gross margins expanded by 800 basis points to 60%, up from 52% in the same year-ago quarter, driven by larger bioreactors, enhanced manufacturing yields, and digitization of workflows.
VINIA Product Success
Total active VINIA customers in the U.S. reached approximately 65,000, with Amazon sales accounting for 20% of total sales. VINIA is the #1 resveratrol-only product sold on Amazon in the U.S.
CDMO Milestones
Successfully completed Stage 1 of a CDMO research contract, advancing to Stage 2 with a pharmaceutical partner. Signed a new contract targeting a fragrance molecule.
New Product Launches
Launched VINIA Daily 2X Formula chews and expanded VINIA Inside delivery systems with new SuperFood Tea SKUs. Preparing to launch VINIA Blood Flow Hydration Solution in October.
Health Pros' Affiliate Program
Announced the launch of the VINIA Health Pros' Professional Affiliate program to activate health practitioners and influencers, aiming for significant subscriber growth.
Negative Updates
Increased Operating Expenses
Operating expenses increased to $6.9 million from $4.8 million, primarily due to higher marketing spend and development of the Health Pros' Affiliate program.
Net Loss Increase
Net losses for the second quarter totaled $4 million, compared to a net loss of $0.7 million in the same year-ago quarter.
Tariff Impact
Final tariff impact from Israel to the U.S. is now at 15%, affecting the cost structure, although it has been managed through efficiencies.
Company Guidance
In the BioHarvest Sciences Second Quarter 2025 Corporate Update Conference Call, the company provided significant guidance and metrics indicating strong performance and strategic milestones. Revenue for Q2 2025 rose by 41% year-over-year to $8.5 million, driven by growth in VINIA subscription revenue and CDMO services. Gross margins expanded by 800 basis points to 60%, up from 52% in the same quarter the previous year, attributed to the deployment of larger bioreactors and improved manufacturing efficiencies. The company aims to reach adjusted EBITDA breakeven by Q4 2025, propelled by a diverse strategy including new product launches such as VINIA Daily 2X Formula chews and the upcoming VINIA Blood Flow Hydration Solution. The CDMO division achieved a milestone with a research contract advancing to Stage 2, contributing positively to the company's financials. The Health Pros' Professional Affiliate program is expected to significantly enhance VINIA's market exposure, targeting 300 influencers by year-end. Despite a net loss of $4 million in Q2 2025, the company is optimistic about reaching profitability, supported by a disciplined approach to cost management and strategic growth initiatives.BioHarvest Sciences Financial Statement Overview
Summary
BioHarvest Sciences shows strong revenue growth but remains unprofitable with negative net income and high leverage. The negative equity and reliance on external funding highlight financial instability.Income Statement
BioHarvest Sciences has shown a significant revenue growth trajectory, from $396,000 in 2020 to $27.68 million TTM. However, the company remains unprofitable with persistent negative net income and EBIT margins. The TTM gross profit margin stands at 56.1%, indicating efficiency in managing production costs, but the negative net profit margin of -31.3% highlights challenges in covering operational and other expenses.35
Negative
Balance Sheet
The balance sheet of BioHarvest Sciences reveals a precarious financial position with negative stockholders' equity of -$876,042 TTM, indicating liabilities exceed assets. The debt-to-equity ratio is not calculable due to negative equity, and the equity ratio is also negative, reflecting a high leverage position and potential solvency risks.20
Very Negative
Cash Flow
BioHarvest Sciences' cash flow analysis shows negative operating and free cash flows, with free cash flow deteriorating to -$9.82 million TTM. The company has been financing its operations through significant financing cash flows, indicating reliance on external funding. The operating cash flow to net income ratio is negative, suggesting inefficiency in converting sales into cash.30
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 30.17M | 25.19M | 12.67M | 5.50M | 2.10M | 396.00K |
| Gross Profit | 17.50M | 13.94M | 5.63M | 1.22M | 670.00K | 138.00K |
| EBITDA | -5.82M | -9.72M | -9.76M | -9.13M | -8.51M | -5.77M |
| Net Income | -12.06M | -12.91M | -12.56M | -11.24M | -9.83M | -6.58M |
Balance Sheet | ||||||
| Total Assets | 27.80M | 25.00M | 15.00M | 9.39M | 10.21M | 5.30M |
| Cash, Cash Equivalents and Short-Term Investments | 3.73M | 2.39M | 5.36M | 1.74M | 4.12M | 1.78M |
| Total Debt | 21.09M | 13.82M | 22.34M | 10.56M | 2.66M | 2.71M |
| Total Liabilities | 32.02M | 23.67M | 29.86M | 15.32M | 7.35M | 7.60M |
| Stockholders Equity | -4.22M | 1.33M | -14.85M | -5.93M | 2.85M | -2.29M |
Cash Flow | ||||||
| Free Cash Flow | -9.21M | -9.52M | -10.00M | -10.50M | -8.43M | -4.05M |
| Operating Cash Flow | -7.03M | -6.68M | -8.52M | -9.24M | -6.79M | -3.88M |
| Investing Cash Flow | -2.14M | -3.03M | -1.47M | -1.26M | -1.64M | -173.00K |
| Financing Cash Flow | 7.80M | 6.78M | 13.56M | 8.14M | 10.77M | 4.93M |
BioHarvest Sciences Technical Analysis
Positive
8.73
Price Trends
7.62
Positive
6.96
Positive
6.40
Positive
Market Momentum
0.50
Positive
56.50
Neutral
48.52
Neutral
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 8.73 is above the 20-day moving average (MA) of 8.48, above the 50-day MA of 7.62, and above the 200-day MA of 6.40, indicating a bullish trend. The MACD of 0.50 indicates Positive momentum. The RSI at 56.50 is Neutral, neither overbought nor oversold. The STOCH value of 48.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BHST.
BioHarvest Sciences Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $144.26M | 10.62 | 11.29% | 3.04% | -9.70% | -30.98% | |
63 Neutral | $20.85B | 14.73 | -3.85% | 3.09% | 2.70% | -8.60% | |
54 Neutral | $151.32M | ― | -973.22% | ― | 57.83% | 40.94% | |
54 Neutral | $94.50M | ― | -26.74% | ― | 85.33% | 30.70% | |
51 Neutral | $176.89M | ― | -298.41% | ― | 565.52% | 79.44% | |
43 Neutral | $144.03M | ― | 260.68% | ― | -36.29% | 36.16% | |
36 Underperform | $162.65M | ― | -287.92% | ― | ― | 97.61% |
* Consumer Defensive Sector Average
Performance Comparison
BHST
BioHarvest Sciences
8.73
3.26
59.60%
AGEN
Agenus
4.52
-1.35
-23.00%
SGMO
Sangamo Biosciences
0.59
-0.22
-27.16%
HURA
TuHURA Biosciences
3.25
-4.18
-56.26%
IH
iHuman
2.80
1.23
78.34%
PRE
Prenetics Group
7.25
2.44
50.73%
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.