BioStem Technologies Reports Third Quarter 2026 Financial Results; Grows Hospital Revenue for Second Consecutive Quarter as Customers Expand Use of Portfolio

Rhea-AI Summary

BioStem Technologies (Nasdaq: BSEM) reported third-quarter 2026 revenue of $7.6 million and raised the lower end of its full-year revenue outlook. Revenue fell from $7.9 million in the second quarter and $10.5 million a year earlier, while hospital revenue rose sequentially to $6.8 million. Gross margin fell to 56% from 61% sequentially. GAAP net loss widened to $11.4 million, or $0.64 per share, from $9.0 million, or $0.52, sequentially.

Cash ended September at $1.0 million, versus $7.0 million at June 30. A private placement generated approximately $3 million in gross proceeds. BioStem now expects 2026 revenue of $28 million–$29 million, versus $26 million–$29 million previously. It expects approximately $10 million–$12 million in annualized cash operating expense reductions, with full benefit beginning in the first quarter of 2027, and in-house Neox and Clarix production in the first half of 2027.

14 points · 2 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 16 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.2026 revenue guidance raised to $28 million–$29 million from $26 million–$29 million.
• Major point$40 million committed equity facility established with Roth Principal Investments.
• Moderate pointMulti-product customers buying two or more lines increased 14% sequentially; three or more increased more than 40%.
• Moderate pointPrivate placement closed September 30, 2026, generating approximately $3 million in gross proceeds. 11% of market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.Cost reduction plan being finalized targets approximately $10 million–$12 million annualized cash expense savings versus current run rate.

9 minor points

• Minor pointHospital revenue increased to $6.8 million from $6.7 million in the second quarter of 2026.
• Minor pointCustomers ordering in consecutive quarters increased 6% from the second quarter.
• Minor pointCommercial integration of BioTissue logistics, support, invoicing and collections completed in August; customer-management and enterprise systems integrated.
• Minor pointVENDAJE added to the company's two largest existing group purchasing organization agreements in September.
• Minor point. Forward-looking: it has not happened yet and may not happen.Neox and Clarix in-house production expected in the first half of 2027; manufacturing transfer remains on track.
• Minor point. Forward-looking: it has not happened yet and may not happen.VLU study top-line results scheduled for presentation at Innovations in Wound Healing in early December.
• Minor point. Forward-looking: it has not happened yet and may not happen.Accompanying warrants could generate up to approximately $5.6 million in additional gross proceeds if exercised.
• Minor pointExecutive option exercises generated approximately $1.0 million in gross proceeds after quarter-end.
• Minor point. Forward-looking: it has not happened yet and may not happen.Cost-plan full benefit expected beginning in the first quarter of 2027.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.$10.0 million Clearance Payment remains subject to ongoing restructuring discussions with BioTissue to lower near-term cash obligations. 36% of market cap
• Moderate pointRevenue of $7.6 million declined from $7.9 million sequentially and $10.5 million a year earlier.
• Moderate pointGross profit of $4.3 million, margin 56% fell from $4.8 million/61% sequentially and $9.3 million/88.5% year-over-year.
• Moderate pointOperating expenses of $14.1 million rose from $13.2 million sequentially and $7.8 million a year earlier.
• Moderate pointGAAP net loss of $11.4 million ($0.64/share) widened from $9.0 million ($0.52/share) sequentially.
• Moderate pointAdjusted EBITDA loss of $6.4 million compared with positive $2.7 million in the third quarter of 2025.
• Moderate pointCash of $1.0 million at September 30 declined from $7.0 million at June 30, 2026.
• Moderate pointOperating cash use increased to $8.8 million from $5.5 million in the second quarter.
• Moderate pointCurrent liabilities of $22,169,888 exceeded current assets of $16,133,736 at September 30, 2026.
• Moderate pointPrivate-placement shares and accompanying warrants dilute holders; warrants carry a $3.83 per-share exercise price.
• Moderate pointConsideration payable-extension costs totaled $1,000,000 in the third quarter of 2026. 3.6% of market cap

5 minor points

• Minor pointPhysician office revenue fell to $0.8 million from $1.1 million in the second quarter.
• Minor pointBioTissue supply pricing increased after initial discounts expired, primarily driving the sequential gross-margin decline.
• Minor pointYear-earlier GAAP profitability reversed: third-quarter 2025 net income was $761,052, with diluted EPS of $0.03.
• Minor pointEquity-facility share sales are restricted until early April 2027 unless waived; none have occurred.
• Minor pointPrivate-placement and warrant issuance costs totaled $376,097 in the third quarter of 2026.

News Explained

The capital raised is partly conditional, while the higher common-share count reduces existing holders’ percentage ownership absent offsets.

BioStem closed a private placement on September 30, 2026, for about $3 million gross; accompanying warrants could bring up to about $5.6 million more at $3.83 per share, while common shares outstanding rose from 16,825,716 at December 31, 2025 to 18,679,490 at September 30, 2026. A higher share count reduces an existing holder’s percentage ownership absent offsetting changes.

A private placement is a sale of securities to selected investors outside a public offering; resale may require a later registration statement, which the issuer may commit to file. Separately, the $40 million committed equity facility has produced no share sales, and sales are restricted until early April 2027 unless waived; its stated size is not cash already received.

BioStem reported $8.8 million of cash used in operations during the third quarter and $971,145 in cash and equivalents at September 30, 2026; after quarter-end, the CEO and COO exercised options generating about $1.0 million gross.

Key Figures

Net revenue: $7.6 million Hospital revenue: $6.8 million Gross margin: 56% +5 more

Net revenue

$7.6 million

Third quarter 2026; compared with $7.9 million in Q2 2026 and $10.5 million in Q3 2025

Hospital revenue

$6.8 million

Third quarter 2026; compared with $6.7 million in Q2 2026

Gross margin

56%

Third quarter 2026; compared with 61% in Q2 2026 and 88.5% in Q3 2025

GAAP net loss

($11.4 million)

Third quarter 2026; compared with ($9.0 million) in Q2 2026

Adjusted EBITDA loss

($6.4 million)

Third quarter 2026; compared with Adjusted EBITDA of $2.7 million in Q3 2025

Cash and cash equivalents

$1.0 million

As of September 30, 2026; compared with $7.0 million as of June 30, 2026

Cash used in operations

$8.8 million

Third quarter 2026; compared with $5.5 million in Q2 2026

Full-year revenue guidance

$28 million to $29 million

2026 outlook; raised from the prior range of $26 million to $29 million

Previous Earnings Reports

2 past events · Latest: Aug 12

Same Type 2 events

1. Aug 12

   Q2 earnings

   24h Move

   -18.4%

   Sequential revenue rose, but year-over-year revenue declined; BioStem reported a net loss and raised guidance.

2. Nov 13

   Q3 earnings

   24h Move

   -4.0%

   Reported $10.5 million revenue and $0.8 million net income, despite a negative next-day reaction.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

allograft, private placement, cgmp

3 terms

allograft medical

"development, manufacturing, and commercialization of perinatal tissue allograft products"

Tissue taken from one person and transplanted into another to repair or replace damaged body parts, such as bone, skin, or heart valves. For investors, allografts matter because their use involves manufacturing standards, supply and safety controls, regulatory approvals, and reimbursement rules that can affect sales, liability and growth for companies that process, store or sell these biological materials — similar to how sourcing and quality control of key parts affect a manufacturer’s business.

private placement financial

"Closed a private placement with multiple institutional investors"

A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.

cgmp regulatory

"and current Good Manufacturing Practices"

cGMP (current Good Manufacturing Practice) are government-enforced quality standards that manufacturers must follow to ensure drugs, medical devices, and related products are made consistently, safely, and meet specified quality tests. For investors, cGMP compliance is like a restaurant passing health inspections: it reduces the risk of product recalls, regulatory fines, or production stoppages that can hurt revenue and company value, and it supports market access and long-term trust.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Hospital revenue grew sequentially to $6.8 million; customers purchasing two or more product lines up 14% from the second quarter

In-house production of Neox^® and Clarix^® on track to begin in the first half of 2027

Raises full-year 2026 revenue guidance

POMPANO BEACH, Fla., Nov. 12, 2026 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (Nasdaq: BSEM) (“BioStem” or the “Company”), a leading regenerative medicine company focused on the development, manufacturing, and commercialization of perinatal tissue allograft products, today reported financial results for the third quarter ended September 30, 2026 and raised full year 2026 revenue guidance.

“We grew hospital revenue again this quarter, and importantly, are doing so by adding new accounts and increasing penetration with existing customers. The number of customers buying two or more of our product lines grew 14% from the second quarter. We also completed the final step of our commercial infrastructure build-out, and with in-house production of Neox and Clarix expected to begin in the first half of 2027, we are on track to become a fully vertically integrated company with those product lines,” said Jason Matuszewski, Chair and CEO of BioStem. “With these foundations in place, we are focused on strengthening the balance sheet, raising our gross margin, reducing operating expenses and narrowing our adjusted EBITDA loss as we work toward breakeven.”

Recent Business Highlights

• Generated net revenue of $7.6 million for the third quarter of 2026, with hospital revenue increasing sequentially to $6.8 million
• Deepened adoption within existing accounts, customers purchasing two or more of the Company’s product lines increased 14% from the second quarter, customers purchasing three or more lines increased more than 40%
• Grew the number of customers ordering in consecutive quarters by 6% from the second quarter
• Completed the integration of sales logistics, operational support, invoicing and collections from BioTissue effective at the beginning of August, with the Company's CRM platform now live and integrated with its ERP system
• Added the VENDAJE product family to the Company's two largest existing GPO agreements in September
• Technology transfer of Neox and Clarix manufacturing to the Company’s Pompano Beach facility on track, with in-house production expected to begin in the first half of 2027
• Top-line results from the Company’s VLU study scheduled to be reported at the Innovations in Wound Healing meeting in early December
  

Recent Corporate Highlights

• Closed a private placement with multiple institutional investors on September 30, 2026, generating gross proceeds of approximately $3 million, with the potential for up to approximately $5.6 million in additional gross proceeds from the exercise of accompanying warrants with an exercise price of $3.83 per share
• Established a $40 million committed equity facility with Roth Principal Investments, LLC; sale of shares under the facility may not begin until early April 2027 unless the applicable restriction is waived
• Working with BioTissue to restructure the terms of the $10.0 million Clearance Payment in order to lower near-term cash obligations
• Finalizing a cost reduction plan expected to reduce annualized cash operating expenses by approximately $10 to $12 million compared with the current run rate, with the full benefit beginning in the first quarter of 2027

Third Quarter 2026 Financial Results

Net revenue was $7.6 million, compared to $7.9 million in the second quarter of 2026 and $10.5 million in the third quarter of 2025. Hospital revenue was $6.8 million compared to $6.7 million in the second quarter of 2026, and physician office revenue was $0.8 million compared to $1.1 million in the second quarter of 2026.

Gross profit was $4.3 million, representing a gross margin of 56%, compared to $4.8 million and 61% in the second quarter of 2026, and $9.3 million and 88.5% in the prior year period. The sequential decrease in gross margin was in line with expectations and primarily reflected higher pricing under the BioTissue supply agreement following the expiration of the initial discounted pricing.

Operating expenses totaled $14.1 million, compared to $13.2 million in the second quarter of 2026 and $7.8 million in the third quarter of 2025. The sequential increase was driven primarily by higher general and administrative expenses related to uplisting and financing activity and payroll taxes on RSU vesting, partly offset by lower research and development spend.

GAAP net loss was ($11.4) million, or ($0.64) per share, compared to ($9.0)million, or ($0.52) per share, in the second quarter of 2026.

Adjusted EBITDA loss was ($6.4) million, compared to Adjusted EBITDA of $2.7 million in the third quarter of 2025. A reconciliation of GAAP net (loss) income to Adjusted EBITDA loss is included at the end of this press release.

As of September 30, 2026, cash and cash equivalents totaled $1.0 million, compared to $7.0 million as of June 30, 2026. Cash used in operations in the third quarter was $8.8 million, compared to $5.5 million in the second quarter. During the quarter, the company closed a private placement on September 30, 2026 with gross proceeds of approximately $3 million, with the potential for up to approximately $5.6 million in additional gross proceeds from the exercise of accompanying warrants with an exercise price of $3.83 per share. Subsequent to the quarter, the Company’s CEO and COO exercised options generating approximately $1.0 million in gross proceeds. No shares have been sold under the Company’s committed equity facility, and sales under the facility are restricted until early April 2027 unless waived.

Financial Outlook

BioStem now expects its revenue for full year 2026 to be in the range of $28 million to $29 million, an increase from the prior outlook of $26 million to $29 million.

Conference Call & Webcast Information:

• Conference ID: 107 437 691
• North America Toll-Free: +1 833-461-5787
• International Toll: +1 585-542-9983
• Webcast Link: https://events.q4inc.com/attendee/107437691

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.

Join BioStem’s Distribution List & Social Media:
To follow the latest developments at BioStem, sign up for the Company’s email distribution list HERE, and follow us on X and LinkedIn.

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. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate”, “plan,” “outlook,” “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this press release include, without limitation, statements regarding the application of new capital received by the Company, the Company’s cost reduction plan, including the expected timing, scope and the amount of savings; expected operating expenses, cash burn and adjusted EBITDA, including the Company’s target of Adjusted EBITDA breakeven; the transfer of Neox and Clarix manufacturing, including its expected timing and its expected effect on gross margin, and the continuity of supply from BioTissue during the transition; expected gross margin; revenue guidance and expected hospital and physician office revenue trends; the Company’s ability to access its committed equity facility and to obtain other financing; the expected receipt of a tax refund; expected improvements in collections and working capital; the restructuring of the Clearance Payment and the Company’s arrangements with BioTissue; the timing and results of the Company’s VLU study and the effect of clinical evidence on adoption of its products; the expected benefits of GPO coverage for the VENDAJE product family and of the Company’s commercial infrastructure and systems; expected customer use trends; and the Company’s ability to meet market needs and the Company’s growth prospects.

Forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties which could cause actual results or outcomes to differ materially from the expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: the Company’s ability to maintain compliance with Nasdaq’s continued listing standards; the Company’s ability to obtain financing on terms acceptable to it, or at all, including limitations on its ability to access its committed equity facility; dilution to the Company’s stockholders resulting from sales of common stock under the committed equity facility, the exercise of outstanding warrants and options, or other equity financings; the Company’s ability to continue as a going concern; the Company’s ability to pay the $10.0 million Clearance Payment owed to BioTissue, which remains unpaid, the outcome of discussions to restructure the Clearance Payment and the consequences of any default or exercise of remedies by BioTissue; the Company’s ability to achieve the expected savings from its cost reduction plan and the possibility that such measures disrupt its operations or result in unanticipated charges or employee attrition; the timing and success of the transfer of Neox and Clarix manufacturing; the Company’s dependence on BioTissue for the supply of certain products and the outcome of discussions to restructure its agreement with BioTissue; customer concentration; 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; volatility in the price of the Company’s common stock; and the possibility that the Company may be adversely affected by other general economic, business, and/or competitive factors. Additional factors are described under “Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 and its Registration Statement on Form 10, as amended, and in its other filings with the U.S. Securities and Exchange Commission. There may be additional risks 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 Group
ir@biostemtech.com

BioStem Technologies, Inc. and Subsidiaries Condensed Consolidated Balance Sheets
		As of September 30, 2026 (Unaudited)					As of December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents		$		971,145			$	29,549,018
Accounts receivable, net				6,600,028				9,874,468
Inventory				6,451,358				2,877,160
Prepaid expenses and other assets				2,111,205				2,102,803
Total current assets				16,133,736				44,403,449
Long-Term Assets
Property and equipment, net				4,381,460				3,970,513
Construction-in-process				505,307				961,032
Right-of-use asset, net				164,135				327,267
Intangible assets, net				20,860,143				119,765
Goodwill				1,532,635				244,635
Total assets		$		43,577,416			$	50,026,661
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable and accrued expenses		$		10,462,057			$	4,441,419
License fees payable				434,775				729,975
Income tax payable				-				31,512
Accrued interest				26,333				2,227,500
Operating lease liabilities				165,823				225,768
Notes payable, net of discount				1,000,000				3,000,000
Consideration payable				10,000,000				-
Other current liabilities				80,900				127,406
Total current liabilities				22,169,888				10,783,580
Long-Term Liabilities
Operating lease liabilities, less current portion				-				105,262
Warrant liability				3,081,104				-
Total long-term liabilities				3,081,104				105,262
Total liabilities				25,250,992				10,888,842
Stockholders' Equity
Series A-1 convertible preferred stock, $0.001 par value; authorized 300 shares; issued and outstanding 300 shares as of September 30, 2026 and December 31, 2025.				-				-
Series B-1 convertible preferred stock, $0.001 par value; authorized 500,000 shares; issued and outstanding 5 shares as of September 30, 2026 and December 31, 2025.				-				-
Common stock, $0.001 par value; authorized 975,000,000 shares; issued and outstanding 18,679,490 and 16,825,716 shares as of September 30, 2026 and December 31, 2025, respectively.				18,681				16,827
Additional paid-in capital				68,692,124				60,338,654
Treasury stock, 18,000 shares at cost				(43,346	)			(43,346	)
Accumulated deficit				(50,341,035	)			(21,174,316	)
Total stockholders' equity				18,326,424				39,137,819
Total liabilities and stockholders' equity		$		43,577,416			$	50,026,661

BioStem Technologies, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(Unaudited)
	Three Months Ended September 30,
	2026				2025
Revenue, net	$	7,640,885			$	10,473,402
Cost of goods sold		3,346,797				1,204,794
Gross profit		4,294,088				9,268,608
Sales and marketing expenses		5,346,021				1,305,957
General and administrative expenses		7,536,166				4,498,341
Research and development expenses		481,189				1,957,876
Depreciation and amortization expense		706,661				57,644
Total operating expenses		14,070,037				7,819,818
(Loss) income from operations		(9,775,949	)			1,448,790
Other (expense) income:
Interest income, net		6,359				143,284
Other (expense) income		(1,606,064	)			(123,345	)
Other (expense) income, net		(1,599,705	)			19,939
Total (loss) income from operations before income taxes		(11,375,654	)			1,468,729
Income tax expense		-				(707,677	)
Net (loss) income	$	(11,375,654	)		$	761,052
Basic net (loss) income per share attributable to common stockholders	$	(0.64	)		$	0.05
Diluted net (loss) income per share attributable to common stockholders	$	(0.64	)		$	0.03
Basic weighted average common shares outstanding		17,864,178				16,749,593
Diluted weighted average common shares outstanding		17,864,178				22,787,934

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 EBITDA, which we calculate as net income (loss) adjusted for interest, taxes, depreciation and amortization, and Adjusted EBITDA, which we calculate as EBITDA further adjusted for share-based compensation expense, SEC registration and related transaction costs, consideration payable extension costs, PIPE and warrant issuance costs and other non-recurring costs, to evaluate our operating performance and trends and make planning decisions. Our management believes EBITDA and Adjusted EBITDA help identify underlying trends in our business that could otherwise be masked by the effect of the items that we exclude. Accordingly, we believe that EBITDA and Adjusted EBITDA provide 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.

Cash operating expenses is a non-GAAP financial measure that we calculate as GAAP operating expenses excluding share-based compensation, depreciation and amortization, and other non-cash items. We are unable to provide a reconciliation of the expected reduction in annualized cash operating expenses, or of our targeted Adjusted EBITDA, to the most directly comparable GAAP measures without unreasonable efforts. This is because we cannot reliably predict the amount or timing of certain items, including share-based compensation, changes in the fair value of our warrant liability, transaction related costs and other non-recurring items. These items are uncertain, depend on factors outside our control, and could have a significant impact on our GAAP results.

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,
	September 30, 2026				September 30, 2025
Net (loss) income	$	(11,375,654	)		$	761,052
Interest income		(6,359	)			(143,284	)
Depreciation and amortization		706,661				57,644
Income tax expense		-				707,677
EBITDA		(10,675,352	)			1,383,089
Share-based compensation		2,087,481				1,151,988
SEC registration and related transaction costs		599,920				-
Consideration payable-extension costs		1,000,000				-
PIPE and warrant issuance costs		376,097				-
Other non-recurring costs		215,761				125,000
Adjusted EBITDA	$	(6,396,093	)		$	2,660,077

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were BioStem Technologies' third-quarter 2026 revenue and earnings?

BioStem reported $7.6 million in revenue and a GAAP net loss of $11.4 million, or $0.64 per share. Revenue compared with $7.9 million in the second quarter of 2026 and $10.5 million in the third quarter of 2025.

What is BioStem Technologies' updated 2026 revenue guidance?

BioStem expects full-year 2026 revenue of $28 million to $29 million, compared with its previous outlook of $26 million to $29 million. The revision increases the lower end while leaving the upper end unchanged.

When can BioStem Technologies access its $40 million equity facility?

Share sales under BioStem's $40 million committed equity facility cannot begin until early April 2027 unless the applicable restriction is waived. The facility is with Roth Principal Investments, and no shares have been sold under it.

Why did BioStem Technologies' gross margin decline sequentially in the third quarter of 2026?

The company attributed the sequential gross-margin decline primarily to higher pricing under the BioTissue supply agreement after initial discounted pricing expired. Gross margin was 56%, compared with 61% in the second quarter of 2026.