BioHarvest Sciences reported third‑quarter 2025 results that largely matched expectations. Revenue came in at $9.1 million, a 39 % year‑over‑year increase from $6.5 million in Q3 2024, and fell just $0.04 million short of the $9.14 million consensus estimate. Net loss narrowed to $2.5 million from $2.7 million, while earnings per share settled at $‑0.14, exactly meeting the $‑0.14 consensus. Gross profit margin expanded to 61 % from 57 % in the prior year, reflecting higher manufacturing scale and improved yields.
The quarter’s revenue growth was driven largely by the company’s contract‑manufacturing (CDMO) segment, which grew 722 % YoY, while its core VINIA product line continued to expand. The CDMO business now accounts for a larger share of total revenue, underscoring BioHarvest’s successful diversification beyond its flagship VINIA products. The mix shift, combined with cost efficiencies in production, helped lift the overall margin profile.
Management guided for fourth‑quarter revenue of $9.0 million to $9.5 million and adjusted EBITDA of $‑0.6 million to $0.0 million, indicating a near‑breakeven outlook. CEO Ilan Sobel said the company is “laser‑focused on closing out 2025 on a high note” and that adjusted EBITDA breakeven is expected in Q4 or early 2026. The guidance signals confidence that the company’s scaling initiatives and cost controls will translate into profitability soon.
Strategically, BioHarvest has recently raised $19.9 million in equity, bolstering its balance sheet and providing runway for expanding manufacturing capacity. The firm is also advancing a plant‑based exosome platform and has secured a CDMO partnership with Saffron Tech to develop saffron‑derived compounds. The upcoming launch of VINIA Blood Flow Hydration on December 3 is positioned to add further revenue momentum.
Overall, the results demonstrate accelerating revenue growth, margin expansion, and a clear path to profitability. While the company remains in a net‑loss position, the narrowing loss, improved gross margin, and strong CDMO performance suggest that BioHarvest is building a more resilient and diversified business model. Headwinds such as the need for continued capital infusion and the current net‑loss profile remain, but the company’s trajectory points toward a breakeven milestone in the near term.
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