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BioHarvest Sciences Inc. will host a corporate update call on May 2nd to discuss milestone achievements, including full year 2023 financial results and the recent acquisition of an expanded corporate campus. The call will feature CEO Ilan Sobel and Chairman Zaki Rakib, providing comments on financial results, the corporate campus acquisition, and the path towards Nasdaq listing requirements.
BioHarvest Sciences reported a significant revenue increase in FY 2023, with revenue growing 131% to $12.7 million. The company expects Q1 2024 revenue between $5.2-$5.3 million and Q2 2024 revenue between $5.7-$6.0 million. BioHarvest is pursuing a Nasdaq listing by year-end and has called a meeting to approve share consolidation and add an independent director. Operational highlights include improved gross margins, new product launches, and the establishment of a Contract Development and Manufacturing Organization (CDMO) business unit. The company is focused on margin optimization and achieving EBITDA profitability in the second half of 2024. BioHarvest's strategic goals align with their commitment to a Nasdaq uplisting and enhancing shareholder value.
