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BioHarvest Sciences
(NASDAQ:BHST)
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Rating:45Neutral
Price Target:
$2.00
▲(4.17% Upside)
Action:Reiterated
Date:07/23/26
The score is held down primarily by weak financial quality (ongoing net losses and negative operating/free cash flow) and bearish technicals (price below all major moving averages with negative MACD). Offsetting factors include constructive earnings-call signals—reiterated 2026 guidance, visible CDMO/D2C milestones, and a substantially improved cash position—which provide some support but do not fully offset profitability and execution/financing risks.
Positive Factors
Proprietary botanical synthesis platform and royalty stakes
BioHarvest’s proprietary botanical synthesis has cleared key technical gates, enabling paid CDMO work with retained composition stakes. Ownership (eg. 20% in fragrance programs) creates a durable path to high-margin, royalty-style economics and long-term recurring income beyond one-off services.
Negative Factors
Persistent net losses and negative operating/free cash flow
Ongoing meaningful losses and negative cash generation indicate the business still consumes capital to operate. Until operating cash flow is sustainably positive, the company remains dependent on external financing, which can constrain long-term execution and increase dilution or leverage risk during multi-year scale-up.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary botanical synthesis platform and royalty stakes
BioHarvest’s proprietary botanical synthesis has cleared key technical gates, enabling paid CDMO work with retained composition stakes. Ownership (eg. 20% in fragrance programs) creates a durable path to high-margin, royalty-style economics and long-term recurring income beyond one-off services.
Read all positive factors
BioHarvest Sciences (BHST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$48.96M
Dividend YieldN/A
Average Volume (3M)78.84K
Price to Earnings (P/E)―
Beta (1Y)0.88
Revenue Growth26.90%
EPS Growth-18.62%
CountryUS
Employees89
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 Ratio0.35
Price to Book (P/B)3.75
Price to Sales (P/S)2.77
P/FCF Ratio-9.97
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$12.00Price Target Upside525.00% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.4
Revenue Forecast (FY)$42.89M
BioHarvest Sciences Business Overview & Revenue Model
Company Description
BioHarvest Sciences Inc. functions as a biotechnology firm with operations segmented into Nutraceuticals and Pharmaceuticals. A key innovation is its proprietary botanical synthesis platform technology, which allows for the cultivation of active i...
How the Company Makes Money
BioHarvest Sciences primarily makes money by selling products derived from its proprietary plant-cell cultivation (“botanical synthesis”) technology. Its revenue model is based on (1) direct sales of finished nutraceutical/health-and-wellness prod...
BioHarvest Sciences Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 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 Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $52.64B | 52.13 | 4.08% | 0.81% | 3.70% | -26.39% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
45 Neutral | $48.96M | -3.48 | -88.01% | ― | 26.90% | -18.62% | |
45 Neutral | $1.34B | -0.49 | -83.04% | 7.26% | -21.31% | -2884.91% | |
45 Neutral | $12.14M | -1.09 | 79.78% | ― | -25.50% | -905.27% | |
43 Neutral | $22.76M | -0.09 | -151.30% | ― | -31.20% | -796.06% | |
42 Neutral | $1.36M | -0.09 | -219.35% | ― | -9.53% | -286.64% |
* Consumer Defensive Sector Average
BHST
BioHarvest Sciences
2.51
-5.59
-69.01%
FMC
FMC
10.55
-24.69
-70.06%
SEED
Origin Agritech
1.04
0.04
4.10%
RKDA
Arcadia Biosciences
0.72
-3.76
-84.00%
BIOX
Bioceres Crop Solutions
0.36
-2.96
-89.16%
CTVA
Corteva
76.86
6.49
9.23%
BioHarvest Sciences Corporate Events
BioHarvest Sciences to Spotlight Botanical Synthesis Platform at Canaccord Genuity Growth Conference
Jul 29, 2026
BioHarvest Sciences announced on July 29, 2026, that CEO Zaki Rakib will present at the Canaccord Genuity 46th Annual Growth Conference in Boston, a key forum for global institutional investors focused on growth companies in technology, healthcare...
BioHarvest Sciences Sets August 11 Date for Q2 2026 Results and Investor Call
Jul 28, 2026
BioHarvest Sciences announced on July 28, 2026, that it will release its second quarter 2026 financial results before market open on Tuesday, August 11, 2026. The company will hold a conference call and webcast at 8:00 a.m. Eastern Time the same d...
BioHarvest Sciences to Showcase Botanical Synthesis at 2026 BIO International Convention
Jun 18, 2026
BioHarvest Sciences Inc., listed on NASDAQ and FSE, develops sustainable plant-derived compounds using its proprietary Botanical Synthesis platform. The company positions itself at the intersection of pharmaceutical innovation and nutraceutical we...
BioHarvest Sciences Files Form 6-K With Meeting Materials for Upcoming Shareholder Vote
May 28, 2026
BioHarvest Sciences Inc., a foreign private issuer based in Vancouver, British Columbia, operates under the Canadian regulatory framework while maintaining a U.S. listing that requires it to file continuous disclosure documents with the SEC. The c...
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...
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.