VANCOUVER, BRITISH COLUMBIA - BioHarvest Sciences Inc. (NASDAQ: BHST) (CSE: BHSC) (FSE: 8MV0), known for its proprietary Botanical Synthesis technology, has reported a year of significant transformation and growth, according to a shareholder letter from CEO Ilan Sobel. InvestingPro data reveals impressive revenue growth of 111.68% over the last twelve months, with analysts projecting continued sales growth this year. The company launched its CDMO Services division, partnered with Tate & Lyle, and doubled its core VINIA® capsule business in 2024. Additionally, BioHarvest successfully introduced VINIA Inside products, targeting a broader consumer market.
The CDMO Services division, unveiled in early March 2024, aims to accelerate the company's mission to develop and democratize life-changing molecules for health and wellness. The partnership with Tate & Lyle, a leader in ingredient solutions, is a testament to the maturity of BioHarvest's technology, which allows for the large-scale, economical production of unique plant-derived molecules.
BioHarvest's Direct-to-Consumer (D2C) Products division also saw growth, ending 2024 with around 50,000 active subscribers in the USA and an exit run rate nearing US$30 million. The company expanded its VINIA® offerings with the launch of Functional Superfood Coffee and tea lineups, with future plans including Nespresso and K-Cup compatible products, as well as VINIA SUPER-CHEWS for a younger, active demographic.
Strategic investments in an 80,000 square foot corporate campus in Yavneh, Israel, and the digitization of production processes have improved gross margin profiles from 44% in Q3 2023 to 56% in Q3 2024, with expectations to exceed 60% in 2025. InvestingPro analysis shows the company maintains impressive gross profit margins of 54%, though it currently operates with moderate debt levels. Subscribers can access 8 additional ProTips and detailed financial metrics on the platform. These initiatives are supported by new talent, including board member Anne Binder and experts Dr. Itay Mayrose and Dr. Edward Maristany.
A significant capital markets milestone was achieved with the listing on the Nasdaq, which is expected to enhance visibility among U.S. investors and improve liquidity. The company aims for adjusted EBITDA profitability in the second half of 2025. According to InvestingPro's Fair Value analysis, the stock currently shows potential for value appreciation, with analyst price targets ranging from $12 to $18 per share. The company's overall Financial Health score is rated as "FAIR," though investors should note it's not yet profitable over the last twelve months.
BioHarvest's focus for the future remains on operational execution to support commercialization at scale. The company's confidence in its growth prospects is underscored by its technological, intellectual property, and operational capabilities.
This information is based on a press release statement.
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