BioHarvest Sciences (BHST)
NASDAQ:BHST
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BioHarvest Sciences
(NASDAQ:BHST)
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Rating:45Neutral
Price Target:
$4.00
▼(-64.54% Downside)
Action:Reiterated
Date:05/19/26
The score is held back primarily by weak financial performance (ongoing losses and negative cash flow) and a bearish technical setup (below major moving averages with negative MACD). The earnings call was moderately supportive due to reiterated guidance, commercial/CDMO progress, and a stronger cash position, but valuation remains constrained by lack of profitability.
Positive Factors
Revenue & Margins
Sustained top-line growth to roughly $35M TTM with materially improved gross margins (~59%) indicates durable unit economics across product and ingredient lines. Strong margins provide room to invest in D2C marketing and CDMO scale while improving the path to operating leverage and eventual profitability.
Negative Factors
Negative cash flow
Persistent negative operating and free cash flow means the company relies on external financing to fund growth and operations. Continued cash burn constrains strategic flexibility, raises dilution or debt risks, and could delay capacity or commercialization plans if revenue inflection or margin gains slip.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Margins
Sustained top-line growth to roughly $35M TTM with materially improved gross margins (~59%) indicates durable unit economics across product and ingredient lines. Strong margins provide room to invest in D2C marketing and CDMO scale while improving the path to operating leverage and eventual profitability.
Read all positive factors
BioHarvest Sciences (BHST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$87.50M
Dividend YieldN/A
Average Volume (3M)78.84K
Price to Earnings (P/E)―
Beta (1Y)0.61
Revenue Growth26.90%
EPS Growth-18.62%
CountryUS
Employees87
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)-0.62
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 Cap0.73
Enterprise Value/Revenue1.82
Enterprise Value/Gross Profit3.07
Enterprise Value/Ebitda-9.60
Forecast
1Y Price Target
$12.00Price Target Upside6.38% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.33
Revenue Forecast (FY)$44.55M
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. Revenue is generated through (1) sales of branded finished consumer products (dietary supplements) sold via direct-to-consumer and other retail/...
BioHarvest Sciences Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 31, 2026
Earnings Call Sentiment Positive
The call conveyed solid technological and commercial progress — notable CDMO milestones (Stage 1 completions, a $1.2M Stage 2 fragrance contract with 20% retained ownership, and Saffron Stage 1 advancement), stronger cash position, and clear D2C product traction (VINIA Blood Flow Hydration, strong reviews, active users). However, near-term financials show continued net losses, increased operating and marketing spend, and a deliberate D2C marketing reset that temporarily depressed revenue. Execution risks remain around manufacturing capacity timing (new facility target H2 2027), potential future capital needs, and early-stage validation for novel assets. Overall the positives (milestones, cash build, pipeline, product traction and reiterated guidance) outweigh the short-term headwinds and uncertainties, but successful execution over the next quarters — especially H2 2026–2027 — will be critical to realize the opportunities.Positive Updates
Quarterly Revenue Growth
Total revenue for Q1 2026 was $8.5M, up 8% year-over-year from $7.9M in Q1 2025.
Negative Updates
Net Loss and Operating Expense Increase
Net loss widened to $2.6M ($0.11 per share) in Q1 2026 from $2.3M ($0.13 per share) in Q1 2025 (≈ +13% loss increase). Total operating expenses rose to $6.9M from $6.3M (≈ +9.5%), driven by higher marketing spend and increased CDMO services expenses.
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly Revenue Growth
Total revenue for Q1 2026 was $8.5M, up 8% year-over-year from $7.9M in Q1 2025.
Read all positive updates
Company Guidance
Management reiterated 2026 guidance calling for total CDMO revenue of $12–14M (including intercompany VINIA production) with $4–6M expected from current/new project work, and a company‑level adjusted EBITDA loss of $4–5M; the D2C business is guided to $38–42M of revenue with adjusted EBITDA profit of $0.5–2M and quarterly improvement expected (Q2 vs Q1, with H2 showing the full benefit). Key operational and commercial metrics backing the outlook include a $1.2M Stage‑2 fragrance contract (BioHarvest retains 20% ownership), completion of Stage‑1 saffron now in Stage‑2, a pipeline of at least 3–4 new CDMO projects, planned production capacity expansion with a second factory targeted to start operating in H2 2027, VINIA’s >90,000 active users and VINIA Blood Flow Hydration’s ~$1M in sales since launch (≈20% of new customer revenue YTD, ~160–170 reviews, 4.7/5 average), and a cash and bank deposit position of $20.2M as of March 31, 2026.BioHarvest Sciences Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
50
Neutral
Cash Flow
36
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
Negative
11.28
Price Trends
4.17
Negative
4.45
Negative
6.33
Negative
Market Momentum
-0.11
Positive
35.53
Neutral
27.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BHST, the sentiment is Negative. The current price of 11.28 is above the 20-day moving average (MA) of 3.95, above the 50-day MA of 4.17, and above the 200-day MA of 6.33, indicating a bearish trend. The MACD of -0.11 indicates Positive momentum. The RSI at 35.53 is Neutral, neither overbought nor oversold. The STOCH value of 27.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $52.36B | 44.96 | 4.67% | 1.04% | 6.27% | 3.72% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
45 Neutral | $87.50M | -7.33 | -88.01% | ― | 26.90% | -18.62% | |
45 Neutral | $1.71B | -0.67 | -83.04% | 16.68% | -16.63% | -865.93% | |
45 Neutral | $13.72M | -1.35 | ― | ― | -25.50% | -905.27% | |
43 Neutral | $28.19M | -0.13 | -105.50% | ― | -31.20% | -754.78% | |
41 Neutral | $1.98M | -0.13 | -80.74% | ― | -9.53% | -286.64% |
* Consumer Defensive Sector Average
BHST
BioHarvest Sciences
3.70
-2.93
-44.19%
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-80.13%
BIOX
Bioceres Crop Solutions
0.48
-4.52
-90.40%
CTVA
Corteva
77.68
7.17
10.18%
BioHarvest Sciences Corporate Events
BioHarvest Sciences Posts Q1 2026 Growth and Advances Botanical Synthesis Deals
May 14, 2026
On May 14, 2026, BioHarvest Sciences reported first-quarter 2026 revenue of $8.5 million, up 8% year on year, with gross margins of 59% and a net loss widening to $2.6 million, while reaffirming its full-year revenue guidance of $42–$48 mill...
BioHarvest Sciences Files Q1 2026 Financials on Form 6-K
May 14, 2026
BioHarvest Sciences Inc. has filed its Form 6-K for May 2026 with the U.S. Securities and Exchange Commission, dated May 14, 2026, providing updated financial and disclosure information for investors. The submission includes unaudited interim cond...
BioHarvest Sciences Names New Business Development Chief to Drive CDMO Growth
May 14, 2026
On May 12, 2026, BioHarvest Sciences announced the appointment of Nedira Salzman-Frenkel as Vice President of Business Development for its CDMO division, reinforcing its push to secure long-term development and manufacturing contracts across pharm...
BioHarvest Advances Saffron CDMO Program to Stage 2 After Completing Cell Bank Milestone
May 13, 2026
On May 13, 2026, BioHarvest Sciences reported that its CDMO division had completed Stage 1 of a multi-stage development program with SaffronTech, successfully creating a stable saffron cell bank for nutraceutical and culinary uses. The cell bank r...
BioHarvest Sciences Secures $1.2M Stage 2 CDMO Deal for Rare Fragrance Development
May 12, 2026
BioHarvest Sciences said on May 12, 2026 that its CDMO division has signed a US$1.2 million Stage 2 contract in a multi-stage program to develop a rare scent-producing plant for the global fragrance industry, following completion of Stage 1 in Mar...
BioHarvest Sciences Installs Co-Founder Zaki Rakib as CEO in Strategic Leadership Shift
May 11, 2026
On April 29, 2026, BioHarvest Sciences announced a strategic leadership transition aimed at sharpening execution of its dual focus on direct-to-consumer and CDMO operations. Co-founder and Executive Chairman Dr. Zaki Rakib assumed the role of Chie...
BioHarvest Sciences Sets May 14 Date for First-Quarter 2026 Results
May 1, 2026
BioHarvest Sciences Inc. announced on April 30, 2026, that it will release its first quarter 2026 financial results before the market opens on Thursday, May 14, 2026. The company will host a conference call and live webcast at 8:00 a.m. U.S. Easte...
BioHarvest Sciences Names Co‑Founder Zaki Rakib CEO in Strategic Leadership Shake-Up
Apr 29, 2026
On April 29, 2026, BioHarvest Sciences announced a strategic leadership transition in support of its “two-lens” growth strategy across its direct-to-consumer and CDMO businesses. Co‑founder and Executive Chairman Dr. Zaki Rakib a...
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.