BioStem Technologies Reports Second Quarter 2026 Financial Results
Rhea-AI Summary
BioStem Technologies (Nasdaq: BSEM) reported Q2 2026 net revenue of $7.9 million, up 29% sequentially from $6.1 million but down from $11.0 million in Q2 2025. Revenue was driven mainly by Neox and Clarix products, with hospital revenue of $6.7 million and physician office revenue of $1.1 million.
Gross profit was $4.8 million with a 61% margin, flat sequentially but below 94% a year ago. Operating expenses rose to $13.2 million, leading to a GAAP net loss of $9.0 million and Adjusted EBITDA loss of $4.6 million. Cash and equivalents fell to $7.0 million. The company completed a $2.5 million private placement, resolved $5.3 million of debt, uplisted to the Nasdaq Capital Market on August 7, 2026, and, according to BioStem, raised full-year 2026 revenue guidance to $26–29 million from $25–29 million.
Positive
- Q2 2026 revenue $7.9M, up 29% sequentially from $6.1M
- Hospital revenue $6.7M and physician office revenue $1.1M in Q2 2026
- Gross margin 61% maintained sequentially despite higher revenue
- $2.5M private placement and $5.3M debt resolved in quarter
- Full-year 2026 revenue guidance raised to $26–29M from $25–29M
- Common stock uplisted to Nasdaq Capital Market on August 7, 2026
Negative
- Q2 2026 revenue $7.9M, down from $11.0M in Q2 2025
- Gross margin 61% vs 94% in Q2 2025, indicating compression
- Q2 2026 GAAP net loss $9.0M vs near breakeven in Q2 2025
- Adjusted EBITDA swung to -$4.6M from +$2.5M year over year
- Cash and equivalents fell to $7.0M from $13.7M at Q1 2026 end
- Total current liabilities increased to $21.2M from $10.8M at year-end 2025
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | Q1 earnings report | Negative | -14.2% | Quarterly loss and cash decline accompanied sequential revenue growth and unchanged annual guidance |
| Mar 24 | Q4 earnings report | Negative | -3.9% | Quarterly and annual losses were reported despite revenue and acquisition updates |
| Nov 13 | Q3 earnings report | Positive | -4.0% | Positive earnings, trial, regulatory, and partnership updates preceded a negative reaction |
| Aug 14 | Q2 earnings report | Negative | -32.1% | Revenue declined 34% year over year and adjusted EBITDA fell despite positive EBITDA history |
| May 12 | Q1 earnings report | Positive | -16.9% | Revenue growth, net income, EBITDA, cash improvement, and clinical progress preceded a negative reaction |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
All five tag-matched earnings events had negative 24-hour reactions, averaging -14.22%.
Key Terms
gaap financial
adjusted ebitda financial
private placement financial
promissory note financial
cgmp regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Generates
Raises full-year 2026 revenue guidance
Uplists to Nasdaq Capital Market
POMPANO BEACH, Fla., Aug. 12, 2026 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (Nasdaq: BSEM), a leading regenerative medicine company focused on the development, manufacturing, and commercialization of perinatal tissue allograft products, today reported financial results for the second quarter ended June 30, 2026.
Recent Corporate Highlights
- Completed the uplisting of the Company’s common stock to the Nasdaq Capital Market on August 7, 2026
- Completed a
$2.5 million private placement with the Company’s first institutional investor
Recent Business Highlights
- Generated net revenue of
$7.9 million for the second quarter of 2026, representing sequential growth of29% from$6.1 million in the first quarter of 2026 - Continued to scale the commercial organization, expanding the direct sales force, integrating the CRM and ERP systems, and transitioning all major group purchasing organization (GPO) agreements to broaden access across hospital systems nationwide
- Issued eight new U.S. design patents covering fenestrated human placental allograft technology, further expanding the Company’s intellectual property portfolio
“The recent completion of our uplisting to Nasdaq was a monumental capital markets milestone for BioStem. This achievement enhances our visibility, broadens our access to institutional capital, and reflects the significant work our team has done to strengthen the foundation of the Company," said Jason Matuszewski, Chair and CEO of BioStem. "The second quarter marked a period of meaningful execution as we advanced the integration of new assets into our business, expanded our commercial organization, and strengthened the platform needed to support long-term growth. This progress, alongside our capital markets achievements, positions us well to sustained long-term growth.”
Second Quarter 2026 Financial Results
Net revenue was
Gross profit was
Operating expenses totaled
GAAP net loss was (
Adjusted EBITDA loss was (
As of June 30, 2026, cash and cash equivalents totaled
2026 Financial Outlook
BioStem expects its revenue for full year 2026 to be in the range of
Conference Call & Webcast Information:
- Conference ID: 9695874
- North America Toll-Free: (800) 715-9871
- International Toll: +1 (646) 307-1963
- Webcast Link: https://events.q4inc.com/attendee/199151484
About BioStem Technologies, Inc. (Nasdaq: BSEM): BioStem Technologies, Inc. is a publicly traded, biomedical innovator, focused on developing, manufacturing and commercializing advanced allograft solutions derived from perinatal tissue. The company leverages its industry-leading proprietary BioRetain®, CryoTek® and SteriTek® processing technologies, designed to optimize the preservation of the natural properties of these tissues, supporting their use in clinical settings. Its allografts are used by clinicians across a wide range of specialties. With a growing portfolio of products, expanding clinical research initiatives, and a national commercial footprint, BioStem is committed to advancing innovation in regenerative medicine.
BioStem Technologies’ quality management system and standard operating procedures have been reviewed and accredited by the Association for Advancing Tissue and Biologics (“AATB”). These systems and procedures are established in compliance with current Good Tissue Practices (“cGTP”) and current Good Manufacturing Practices (“cGMP”). BioStem’s portfolio of quality brands includes its Neox®, Clarix®, VENDAJE® and American Amnion™ product lines.
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Forward-Looking Statements:
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to expectations or forecasts of future events including with respect to the operations of the Company, strategies, prospects, and other aspects of the business of the Company. Forward-looking statements may be identified using words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate”, “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical fact. Forward-looking statements in this release include, among other things, statements regarding: the Company’s expectations regarding its financial and operational strength and diversity; the Company’s expectations regarding the benefits and integration of the acquired BioTissue assets; the Company’s expectations regarding its ability to navigate the evolving reimbursement landscape; the Company’s expectations regarding its ability to execute on its strategic plans, including expanding its salesforce; the Company’s expectations regarding its ability to uplist to Nasdaq; the Company’s expectations regarding second half and full year 2026 financial results; and the Company’s expectations regarding its ability to grow and the market penetration of the Company’s products.
Forward-looking statements with respect to the operations of the Company, strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: the impact of any changes to the reimbursement levels for the Company’s products; significant and continuing competition, which could adversely affect the Company’s business, results of operations and financial condition; rapid technological change, which could cause the Company’s products to become outdated or obsolete, harming the Company’s ability to effectively compete; the Company’s ability to convince physicians that its products are safe and effective alternatives to existing treatments and that its products should be used in their procedures; the risk that the Company may be unable to successfully market its products to the end users of such products; the impact of any changes to the accounting treatment of the Company’s revenue and expenses; the Company’s ability to obtain financing on terms acceptable to it, or at all; the Company has incurred significant losses since inception and may incur losses in the future; the impact of any changes in applicable laws or regulations; the Company's accounts receivable collection risk and concentration; the Company’s ability to maintain production of its products in sufficient quantities to meet demand; and the possibility that the Company may be adversely affected by other general economic, business, and/or competitive factors. There may be additional risks about which the Company is presently unaware of or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company undertakes no duty to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contact BioStem:
Website: www.biostemtechnologies.com
E-Mail: pr@biostemtech.com
X: @BSEM_Tech
Facebook: BioStemTechnologies
Phone: 954-380-8342
Investor Relations:
Philip Trip Taylor, Gilmartin
ir@biostemtech.com
Public Relations:
Jennifer Horton, Relevance
jennifer@relevance.com
| BioStem Technologies, Inc. and Subsidiaries Condensed Consolidated Balance Sheets | |||||||
| As of June 30, 2026 (Unaudited) | As of December 31, 2025 | ||||||
| ASSETS | |||||||
| Current Assets | |||||||
| Cash and cash equivalents | $ | 6,962,492 | $ | 29,549,018 | |||
| Accounts receivable, net | 6,621,357 | 9,874,468 | |||||
| Inventory | 4,711,775 | 2,877,160 | |||||
| Prepaid expenses and other assets | 2,485,430 | 2,102,803 | |||||
| Total current assets | 20,781,054 | 44,403,449 | |||||
| Long-Term Assets | |||||||
| Property and equipment, net | 4,419,563 | 3,970,513 | |||||
| Construction-in-process | 505,307 | 961,032 | |||||
| Right-of-use asset, net | 220,551 | 327,267 | |||||
| Intangible assets, net | 21,359,186 | 119,765 | |||||
| Goodwill | 1,532,635 | 244,635 | |||||
| Total assets | $ | 48,818,296 | $ | 50,026,661 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued expenses | $ | 9,457,957 | $ | 4,441,419 | |||
| License fees payable | 434,775 | 729,975 | |||||
| Income tax payable | - | 31,512 | |||||
| Accrued interest | 11,333 | 2,227,500 | |||||
| Operating lease liabilities | 222,471 | 225,768 | |||||
| Notes payable, net of discount | 1,000,000 | 3,000,000 | |||||
| Contingent consideration payable | 10,000,000 | - | |||||
| Other current liabilities | 75,808 | 127,406 | |||||
| Total current liabilities | 21,202,344 | 10,783,580 | |||||
| Long-Term Liabilities | |||||||
| Operating lease liabilities, less current portion | 1,355 | 105,262 | |||||
| Total long-term liabilities | 1,355 | 105,262 | |||||
| Total liabilities | 21,203,699 | 10,888,842 | |||||
| Stockholders' Equity | |||||||
| Series A-1 convertible preferred stock, | - | - | |||||
| Series B-1 convertible preferred stock, | - | - | |||||
| Common stock, | 17,841 | 16,827 | |||||
| Additional paid-in capital | 66,605,483 | 60,338,654 | |||||
| Treasury stock, 18,000 shares at cost | (43,346 | ) | (43,346 | ) | |||
| Accumulated deficit | (38,965,381 | ) | (21,174,316 | ) | |||
| Total stockholders' equity | 27,614,597 | 39,137,819 | |||||
| Total liabilities and stockholders' equity | $ | 48,818,296 | $ | 50,026,661 | |||
| BioStem Technologies, Inc. and Subsidiaries | |||||||
| Condensed Consolidated Statements of Operations | |||||||
| (Unaudited) | |||||||
| Three Months Ended June 30, | |||||||
| 2026 | 2025 | ||||||
| Revenue, net | $ | 7,899,249 | $ | 10,963,174 | |||
| Cost of goods sold | 3,058,588 | 685,177 | |||||
| Gross profit | 4,840,661 | 10,277,997 | |||||
| Sales and marketing expenses | 5,321,885 | 1,275,150 | |||||
| General and administrative expenses | 6,496,530 | 6,871,997 | |||||
| Research and development expenses | 733,616 | 1,957,352 | |||||
| Depreciation and amortization expense | 689,317 | 60,739 | |||||
| Total operating expenses | 13,241,348 | 10,165,238 | |||||
| (Loss) income from operations | (8,400,687 | ) | 112,759 | ||||
| Other (expense) income: | |||||||
| Interest income, net | 23,362 | 64,785 | |||||
| Other (expense) income | (594,035 | ) | 409 | ||||
| Other (expense) income, net | (570,673 | ) | 65,194 | ||||
| Total (loss) income from operations before income taxes | (8,971,360 | ) | 177,953 | ||||
| Income tax expense | - | (167,340 | ) | ||||
| Net (loss) income | $ | (8,971,360 | ) | $ | 10,613 | ||
| Basic net (loss) income per share attributable to common stockholders | $ | (0.52 | ) | $ | 0.00 | ||
| Diluted net (loss) income per share attributable to common stockholders | $ | (0.52 | ) | $ | 0.00 | ||
| Basic weighted average common shares outstanding | 17,327,652 | 16,708,776 | |||||
| Diluted weighted average common shares outstanding | 17,327,652 | 23,419,726 | |||||
Non-GAAP Financial Measures:
Our management uses financial measures that are not in accordance with generally accepted accounting principles in the United States, or GAAP, in addition to financial measures in accordance with GAAP to evaluate our operating results. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, our reported financial results prepared in accordance with GAAP. Our management uses Adjusted EBITDA, which we calculate as net income less interest, taxes, depreciation and amortization, share-based compensation expense, and transaction related costs, to evaluate our operating performance and trends and make planning decisions. Our management believes Adjusted EBITDA helps identify underlying trends in our business that could otherwise be masked by the effect of the items that we exclude. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by our management in its financial and operational decision-making.
The following is a reconciliation of GAAP net (loss) income to non-GAAP EBITDA and non-GAAP Adjusted EBITDA for each of the periods presented:
| Three Months Ended, | |||||||
| June 30, 2026 | June 30, 2025 | ||||||
| Net (loss) income | $ | (8,971,360 | ) | $ | 10,613 | ||
| Interest income | (23,362 | ) | (64,785 | ) | |||
| Depreciation and amortization | 689,317 | 60,739 | |||||
| Income tax expense | - | 167,340 | |||||
| EBITDA | (8,305,405 | ) | 173,907 | ||||
| Share-based compensation | 2,363,577 | 2,335,631 | |||||
| Gain on extinguishment of debt | (815,250 | ) | - | ||||
| Fair value adjustment on contingent consideration | 1,412,000 | - | |||||
| Transaction related costs | 722,011 | - | |||||
| Adjusted EBITDA | $ | (4,623,067 | ) | $ | 2,509,538 | ||
