BioHarvest Sciences (BHST) AI Stock Analysis

• Market Cap: $111.23M
• Dividend Yield: N/A
• Average Volume (3M): 78.84K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.63
• Revenue Growth: 45.88%
• EPS Growth: 43.12%
• Country: US
• Employees: 87
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Agricultural Inputs
• EPS (TTM): -0.14
• Shares Outstanding: 22,654,290
• 10 Day Avg. Volume: 86,360
• 30 Day Avg. Volume: 78,844
• PEG Ratio: 0.55
• Price to Book (P/B): 75.25
• Price to Sales (P/S): 3.97
• P/FCF Ratio: -10.51
• Enterprise Value/Market Cap: 0.85
• Enterprise Value/Revenue: 2.88
• Enterprise Value/Gross Profit: 4.87
• Enterprise Value/Ebitda: -20.47
• 1Y Price Target: $13.00
• Price Target Upside: 15.25% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: $5.50 ▼(-51.24% Downside)

The score is held down primarily by weak financial performance (ongoing net losses, negative operating/free cash flow, and elevated leverage) and bearish technicals (below key moving averages with negative MACD). The latest earnings call adds support via strong revenue growth, improving gross margins, and guidance pointing toward adjusted EBITDA breakeven, but valuation remains constrained by unprofitability and no dividend.

Positive Factors

Proprietary plant‑cell cultivation platform

BioHarvest’s patented plant‑cell cultivation technology is a durable competitive asset that enables standardized, scalable production of botanical bioactives. This creates barriers to entry, supports CDMO services and branded product consistency, and underpins long-term differentiation in nutraceuticals.

Sustained revenue growth with improving margins

The company shows multi-year top-line momentum (TTM revenue rose to $32.7M from $12.7M in 2023) alongside gross margin expansion (TTM ~59%, Q3 gross margin 61%). Durable revenue and margin improvement reflect scale benefits and stronger unit economics as operations expand.

Strengthened liquidity via institutional equity financing

A material institutional raise meaningfully bolstered cash resources and reduces near‑term refinancing pressure. This financing supports expansion of direct‑to‑consumer and CDMO initiatives, improving runway to reach adjusted EBITDA breakeven and execute growth plans.

Negative Factors

Negative operating and free cash flow

Persistent negative operating and free cash flow indicate the business is still cash‑consumptive, requiring ongoing external funding until margins and working capital convert to positive cash generation. This constrains strategic flexibility and increases funding risk over the medium term.

Elevated leverage relative to equity

Debt materially exceeds equity, leaving the balance sheet thin and reducing tolerance for operational setbacks. High leverage increases interest and covenant risk, and could force dilutive or costly financing if cash burn persists before profitability is achieved.

Concentration in VINIA product revenues

Heavy reliance on a single product family (VINIA) creates concentration risk: demand, competitive pressure, or regulatory issues could materially impact revenue. Limited product diversification slows resilience and makes long‑term growth dependent on successful new product commercialization.

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-quality, bioavailable compounds from various plants, targeting markets such as dietary supplements, nutraceuticals, and functional foods. With a focus on sustainability and scalability, BioHarvest aims to meet the growing consumer demand for natural health solutions.

How the Company Makes Money

BioHarvest Sciences generates revenue primarily through the sale of its proprietary plant-based products, including dietary supplements and nutraceuticals. The company has established key partnerships with manufacturers and distributors in the health and wellness industry, allowing it to reach a broader customer base. Additionally, BioHarvest may engage in licensing agreements for its technology and formulations, creating another revenue stream. The company is also exploring opportunities in the functional food market, potentially expanding its product offerings and increasing overall revenue.

BioHarvest Sciences Financial Statement Overview

Summary

Revenue and gross margin are improving (TTM revenue up vs. 2024/2023; TTM gross margin 59%), but the business remains unprofitable with a large TTM net loss and persistent cash burn (negative operating and free cash flow). Leverage is elevated relative to equity, limiting financial flexibility.

Income Statement

BHST is showing strong top-line momentum, with revenue up to 32.7M in TTM (Trailing-Twelve-Months) from 25.2M in 2024 and 12.7M in 2023, alongside a materially improved gross margin (59% in TTM vs. 55% in 2024 and 44% in 2023). However, the company remains structurally unprofitable with negative operating profit and a net loss of 11.9M in TTM; while losses have improved versus 2024, profit margins are still meaningfully negative, indicating the cost base is not yet aligned with the current revenue scale.

Balance Sheet

Leverage remains a key risk. Total debt rose to 19.8M in TTM (Trailing-Twelve-Months) while equity is only 7.7M, leaving debt elevated relative to the capital base (debt-to-equity about 2.6x), though this is a major improvement versus 2024 when equity was very low and leverage was extreme. Total assets increased to 35.2M, but ongoing losses are pressuring returns on equity (still deeply negative in TTM), and the balance sheet has limited room for error if losses and cash burn persist.

Cash Flow

Cash generation is weak and remains the central concern. Operating cash flow was negative in TTM (Trailing-Twelve-Months) at -8.0M and free cash flow was also negative at -10.1M, indicating the business is still consuming cash rather than funding itself. While free cash flow burn has not worsened dramatically versus recent years, the combination of ongoing net losses and negative operating cash flow suggests continued reliance on external financing until profitability and working-capital dynamics improve.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	32.72M	25.19M	12.67M	5.50M	2.10M	396.00K
Gross Profit	19.37M	13.94M	5.63M	1.22M	670.00K	138.00K
EBITDA	-4.61M	-9.72M	-9.76M	-9.13M	-8.64M	-5.77M
Net Income	-11.89M	-12.91M	-12.56M	-11.24M	-9.83M	-6.58M
Balance Sheet
Total Assets	35.19M	25.00M	15.00M	9.39M	10.21M	5.30M
Cash, Cash Equivalents and Short-Term Investments	10.97M	2.39M	5.36M	1.74M	4.12M	1.78M
Total Debt	19.84M	13.82M	22.34M	10.56M	2.66M	2.71M
Total Liabilities	27.45M	23.67M	29.86M	15.32M	7.35M	7.60M
Stockholders Equity	7.74M	1.33M	-14.85M	-5.93M	2.85M	-2.29M
Cash Flow
Free Cash Flow	-10.07M	-9.52M	-10.00M	-10.50M	-8.43M	-4.05M
Operating Cash Flow	-8.00M	-6.68M	-8.52M	-9.24M	-6.79M	-3.88M
Investing Cash Flow	-2.07M	-3.03M	-1.47M	-1.26M	-1.64M	-173.00K
Financing Cash Flow	18.49M	6.78M	13.56M	8.14M	10.77M	4.93M

BioHarvest Sciences Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.28
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

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 5.16, above the 50-day MA of 5.60, and above the 200-day MA of 7.41, indicating a bearish trend. The MACD of -0.19 indicates Negative momentum. The RSI at 41.52 is Neutral, neither overbought nor oversold. The STOCH value of 8.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BHST.

BioHarvest Sciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IH	67 Neutral	$93.96M	6.69	11.71%	3.93%	-8.09%	-15.28%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
PRE	55 Neutral	$321.34M	-5.24	-23.93%	―	159.45%	8.59%
SGMO	47 Neutral	$180.19M	-1.21	-480.02%	―	-37.13%	40.47%
BHST	45 Neutral	$111.23M	-7.17	-200.22%	―	45.88%	43.12%
AGEN	45 Neutral	$96.58M	―	―	―	-33.41%	81.19%
HURA	41 Neutral	$32.49M	-0.82	-418.06%	―	―	99.21%

BioHarvest Sciences Corporate Events

BioHarvest Sciences Reports Strong Financial Position in Q3 2025

BioHarvest Sciences Inc. has released its unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2025. The financial report highlights a significant increase in cash and cash equivalents from $2,390,000 at the end of 2024 to $10,966,000 as of September 30, 2025, indicating improved liquidity. This financial performance reflects the company’s ongoing efforts to strengthen its financial position, which could enhance its competitive edge in the biotechnology sector.

The most recent analyst rating on (BHST) stock is a Hold with a $7.50 price target. To see the full list of analyst forecasts on BioHarvest Sciences stock, see the BHST Stock Forecast page.