Record Revenue Growth
BioStem Technologies delivered its strongest first quarter revenue in company history, with revenue increasing 73% year-over-year to $72.5 million.
Profitability Achievement
Reported GAAP net income of $4.5 million or $0.27 per share, marking the fifth consecutive quarter of profitability.
Strong Financial Position
BioStem ended the quarter with $26.7 million in cash, an increase from $22.8 million in Q4 2024.
Gross Profit Margin Improvement
Gross profit was $71.7 million, or 99% of net revenue, compared to 95% in Q1 2024, reflecting product mix benefits and scale efficiencies.
Clinical Trial Progress
Initiated a new clinical trial for BioREtain Amnion Chorion and received IRB approval. Progress is being made in existing trials with data readouts expected by mid to late 2025.