BioHarvest Q1 Revenue Rises 8% to $8.5M with 135% CDMO Growth and Stage 2 Deals Over $2M
BioHarvest reported Q1 revenue of $8.5 million, up 8% year-over-year, with CDMO revenue surging 135% and gross margin rising to 59%, while net loss widened to $2.6 million ($0.11/share). The company advanced two Botanical Synthesis programs into Stage 2 agreements valued at over $2 million and ended Q1 with $20.2 million in cash.
1. Q1 Financial Results
BioHarvest reported Q1 revenue of $8.5 million, an 8% increase from $7.9 million a year earlier, with gross margin improving to 59%. The company maintained full-year guidance of $42–48 million while net loss widened to $2.6 million ($0.11 per share) and adjusted EBITDA loss remained at $1.2 million.
2. Strong CDMO Growth and Pipeline Advancements
Revenue from the CDMO segment surged 135% year-over-year, driven by progress in fragrance and saffron Botanical Synthesis programs. Two Stage 2 agreements worth over $2 million were signed, including a $1.2 million deal for an endangered fragrance plant and a saffron program agreement exceeding $1 million.
3. Expenses and Cash Position
Operating loss marginally rose to $1.8 million as sales and marketing expenses increased to $4.1 million to support direct-to-consumer growth. Cash and equivalents stood at $20.2 million at quarter end, underpinning near-term operational needs.
4. Strategic Expansion Plans
BioHarvest is executing a two-lens strategy to scale its CDMO and direct-to-consumer businesses, with R&D expansion completed and plans underway to open a new manufacturing site in the second half of 2027 to boost production capacity.