Welcome to our dedicated page for Bioharvest news (Ticker: BHST), a resource for investors and traders seeking the latest updates and insights on Bioharvest stock.
BioHarvest Sciences Inc. develops plant-based compounds through its proprietary Botanical Synthesis technology platform, which is designed to grow plant compounds without cultivating the underlying plant. Company news centers on two business verticals: a direct-to-consumer products business built around proprietary nutraceutical health and wellness products, including VINIA, and a CDMO business serving customers seeking novel plant-based compounds.
Recurring updates include financial results, product commercialization, direct-to-consumer growth, CDMO development programs, and applications of the platform in areas such as nutraceuticals and fragrance molecules. BioHarvest also reports governance and leadership changes, equity-based compensation actions, financing activity, and conference participation tied to its public-company profile.
BioHarvest Sciences reported strong Q3 2024 financial results with revenue increasing 101% year-over-year to $6.5 million. Gross margins expanded significantly by 1,200 basis points to 57% compared to 45% in the same year-ago quarter. The company's VINIA® subscribers grew 128% year-over-year, and they successfully launched a new VINIA® SuperFood tea line. Management expects Q4 2024 revenues of at least $7.2 million and projects reaching adjusted EBITDA breakeven in H2 2025. The company recently uplisted to the Nasdaq Global Market on November 12, 2024.
BioHarvest Sciences (NASDAQ: BHST) has launched VINIA® SuperFood Functional Tea Line, targeting the $3.3 billion North American functional tea market. The new product line includes four premium blends: Black Tea, Green Tea, Matcha Green Tea, and Cranberry Hibiscus Herbal Tea, all infused with piceid resveratrol equivalent to one VINIA® capsule. The teas, sourced from Rainforest Alliance certified farms, outperformed leading brands in third-party blind taste testing. This launch follows the successful VINIA® capsules and SuperFood Coffee, implementing the company's 'VINIA® Inside' strategy to deliver circulatory health benefits across multiple consumer verticals.
BioHarvest Sciences (NASDAQ: BHST) has announced its participation in the Noble Capital Markets 20th Annual Emerging Growth Equity Conference on December 3, 2024, in Boca Raton, FL. CEO Ilan Sobel will conduct one-on-one meetings with institutional investors and deliver a presentation at the event. The company, which specializes in Botanical Synthesis technology, aims to discuss its growth strategy focusing on plant-based molecules for Direct-to-Consumer Health and Wellness business and CDMO customers. The presentation will be made available on BioHarvest's investor relations website following the conference.
BioHarvest Sciences (NASDAQ: BHST) has scheduled its Third Quarter 2024 earnings call for November 25, 2024, at 4:30 P.M. Eastern Time. The company will release its financial results for the quarter ended September 30, 2024, after market close on the same day. The conference call will include a corporate update and a Q&A session. Participants can join via U.S./Canada dial-in (1-844-825-9789) or International dial-in (1-412-317-5180) using Conference ID 10194495. A replay will be available through December 9, 2024.
BioHarvest Sciences (NASDAQ: BHST) announced the commencement of trading on the Nasdaq Global Market under the ticker symbol 'BHST' while maintaining its listing on the Canadian Securities Exchange (CSE). The company will release its third quarter 2024 financial results after market close on November 25, followed by an investor conference call at 4:30 p.m. Eastern time to discuss results and provide corporate updates.