Top Page
BSF Enterprise PLC
(LSE:BSFA)
BSF Enterprise PLC (BSFA) vs. iShares MSCI United Kingdom ETF (EWC)
BSF Enterprise PLC Business Overview & Revenue Model
BSF Enterprise PLC Financial Statement Overview
| Breakdown | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 52.84K | 57.82K | 12.94K | 0.00 | 0.00 |
| Gross Profit | -127.47K | -26.64K | -86.55K | -160.50K | 0.00 |
| EBITDA | -1.10M | -1.68M | -1.46M | -905.76K | -58.22K |
| Net Income | -1.11M | -1.67M | -1.50M | -930.04K | -58.43K |
Balance Sheet | |||||
| Total Assets | 3.01M | 3.50M | 5.26M | 4.03M | 401.45K |
| Cash, Cash Equivalents and Short-Term Investments | 149.02K | 637.66K | 2.32M | 1.06M | 359.87K |
| Total Debt | 0.00 | 78.05K | 156.93K | 231.88K | 0.00 |
| Total Liabilities | 289.02K | 305.07K | 401.63K | 449.47K | 36.63K |
| Stockholders Equity | 2.72M | 3.19M | 4.86M | 3.58M | 364.82K |
Cash Flow | |||||
| Free Cash Flow | -1.02M | -1.60M | -1.44M | -677.86K | -85.19K |
| Operating Cash Flow | -1.01M | -1.59M | -1.38M | -667.24K | -85.19K |
| Investing Cash Flow | -9.92K | -12.02K | -64.85K | 1.75K | 0.00 |
| Financing Cash Flow | 529.69K | -78.88K | 2.70M | 1.37M | 0.00 |
BSF Enterprise PLC Technical Analysis
BSF Enterprise PLC Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | £1.45M | -0.70 | -37.63% | ― | -100.66% | 84.15% | |
48 Neutral | £2.63M | 1.47 | 37.98% | ― | ― | ― | |
48 Neutral | £4.50M | -1.85 | -12.33% | ― | ― | ― | |
42 Neutral | £962.81K | -3.56 | -46.41% | ― | -64.18% | 12.05% | |
42 Neutral | £4.28M | -7.39 | -140.34% | ― | ― | ― |
BSF Enterprise PLC Corporate Events
BSF Enterprise’s Lab-Grown Leather subsidiary has successfully tanned scaffold-free, cultivated skin into A4-sized sheets in the UK, using a proprietary process that produces a bio-equivalent “Elemental” leather with the look, feel and durability of traditional hides. Professional tanners have validated the material’s comparability to conventional leather, positioning it as a sustainable alternative for luxury and ultra-luxury applications.
The tanning process relies solely on plant-derived agents and avoids chromium and other heavy metals, sharply reducing the environmental and chemical footprint versus standard leather production. LGL will now share samples with a leading global fashion house for evaluation and will showcase its T-Rex Leather ultra-luxury item in Amsterdam, underscoring its ambition to create novel, ethically produced “extinct luxury” materials for high-end markets.
The most recent analyst rating on (GB:BSFA) stock is a Hold with a £0.60 price target. To see the full list of analyst forecasts on BSF Enterprise PLC stock, see the GB:BSFA Stock Forecast page.
BSF Enterprise PLC has mutually agreed with its counterparties to terminate a proposed £15m equity fundraise and associated capital reorganisation, unwinding the agreements that underpinned the transaction. A previously announced £300,000 convertible loan note will remain in place, extended by 12 months, with noteholders retaining the option to convert at the price of BSF’s next capital raise.
Following the collapse of the planned funding, the company has opened discussions with alternative investors to secure capital both at group level and for its subsidiaries Lab-grown Leather Ltd and Kerato Ltd. Management aims to close a new, more favourable fundraising in the coming weeks, a move that will be critical to supporting its tissue-engineering growth strategy and maintaining momentum in its emerging sustainable materials and biotech operations.
The most recent analyst rating on (GB:BSFA) stock is a Sell with a £1.00 price target. To see the full list of analyst forecasts on BSF Enterprise PLC stock, see the GB:BSFA Stock Forecast page.
BSF Enterprise’s subsidiary Lab-Grown Leather Limited has produced its first fully tanned, scaffold-free A4-sized skin, approaching 2mm thickness, using its Advanced Tissue Engineering Platform. The Elemental product line now demonstrates industrially relevant dimensions and properties comparable to conventional hide, including durability, breathability and patina, while allowing tunable performance characteristics.
The company claims a zero-waste geometry process that grows skins to specification, reducing scrap common in traditional leather production. This technical milestone enables BSF to intensify engagement with luxury brands and material distributors, positioning Elemental and the T-Rex Leather concept as a new class of high-end, ethically sourced materials with a scarcity-driven narrative.
LGL has also launched the T-Rex Leather brand online and scheduled a showcase event for 2 April 2026 to demonstrate these materials to the fashion and luxury sectors. BSF expects the combination of protected IP, scalability and the ability to mimic rare or extinct species’ cellular biology to provide a competitive moat in both mainstream luxury leather and emerging exotic segments.
The most recent analyst rating on (GB:BSFA) stock is a Hold with a £0.86 price target. To see the full list of analyst forecasts on BSF Enterprise PLC stock, see the GB:BSFA Stock Forecast page.
BSF Enterprise PLC reported that all resolutions at its Annual General Meeting were passed by shareholders via poll, with each motion receiving near-unanimous support. The strong voting outcomes reaffirm the board’s mandate and provide governance continuity as the company advances its portfolio of tissue-engineered products and scales its sustainable materials business.
Management is encouraging direct investor engagement through its dedicated interactive website, where shareholders can ask questions and access company updates. This push for enhanced communication underscores BSF Enterprise’s efforts to strengthen shareholder relations and transparency as it pursues commercialisation in the emerging field of cultivated materials.
The most recent analyst rating on (GB:BSFA) stock is a Hold with a £1.00 price target. To see the full list of analyst forecasts on BSF Enterprise PLC stock, see the GB:BSFA Stock Forecast page.
BSF Enterprise PLC, a developer of tissue-engineered products such as lab-grown leather, cultivated meat and corneal repair technologies, focuses on sustainable, scaffold-free solutions that offer alternatives to traditional materials. Its platform is aimed at meeting rising global demand for environmentally responsible innovations across multiple applications.
The company has updated investors on its proposed equity fundraise and capital reorganisation, confirming it will miss the previously anticipated timetable for completing the transaction. Management said the financing process is taking longer than expected as it assesses options and progresses required workstreams, but stressed that the board continues to pursue transaction certainty and will issue further updates in due course.
The most recent analyst rating on (GB:BSFA) stock is a Sell with a £1.50 price target. To see the full list of analyst forecasts on BSF Enterprise PLC stock, see the GB:BSFA Stock Forecast page.
BSF Enterprise PLC has issued a correction to its recently released Annual Report and Consolidated Financial Statements for the year ended 30 September 2025, clarifying that its reported net loss should be £1,113,527 rather than the previously stated £1,013,527 in the highlights and financial summary. The updated figure, now reflected in the report available on the company’s website, slightly increases the scale of the reported loss, underscoring the financial pressures associated with BSF’s ongoing investment in developing and commercialising its portfolio of tissue-engineered products.
The most recent analyst rating on (GB:BSFA) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on BSF Enterprise PLC stock, see the GB:BSFA Stock Forecast page.
BSF Enterprise PLC has published its Annual Report and Accounts for the year to 30 September 2025, highlighting significant technical and commercial progress across its core subsidiaries 3D Bio-Tissues, Lab-Grown Leather and Kerato, as well as its Hong Kong arm. During the period the group launched its CytoBoost bioactive media additive and expanded City-Mix for cost-effective cultivated meat production, achieved a breakthrough in producing the world’s first 2mm-thick scaffold-free leather and advanced collaborations with luxury fashion brands, and secured a key licensing agreement with the University of Montreal for liquid cornea technology, with veterinary trials targeted for 2026 and human trials for 2027. BSF also strengthened its balance sheet through shareholder approval for up to £15 million in warrant-based fundraising to support commercialisation, spin-outs, Greater China expansion and potential acquisitions, while cutting its net loss to just over £1.0 million through cost control and higher grant income, underscoring its drive to transition from R&D to commercial scale in cultivated meat inputs, lab-grown leather and regenerative medicine.
The most recent analyst rating on (GB:BSFA) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on BSF Enterprise PLC stock, see the GB:BSFA Stock Forecast page.
Kerato Limited, the corneal-focused biotechnology subsidiary of BSF Enterprise PLC, has secured participation as an industrial partner in a CAD 663,000 PSO V2D grant programme awarded by Québec’s Ministry of Economy, Innovation and Energy to the University of Montreal, with Kerato co-funding about 55% of the 18‑month project. The funding will support safety and biocompatibility testing, veterinary clinical trials of its LiQD Cornea Animal Health product, manufacturing scale-up, quality and regulatory readiness, and intellectual property work, all aimed at de-risking both veterinary and future human applications. Veterinary trials are due to start in Q1 2026, with a targeted initial commercial launch of LiQD Cornea Animal Health in Canada in Q1 2027 and first revenues expected thereafter, while early engagement with Health Canada and collaboration with the University of Montreal and Axelys are intended to strengthen Kerato’s North American presence and accelerate access to high-value veterinary and clinical markets, ultimately supporting the longer-term development of human corneal repair solutions.
The most recent analyst rating on (GB:BSFA) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on BSF Enterprise PLC stock, see the GB:BSFA Stock Forecast page.