BioHarvest Sciences (NASDAQ: BHST) outlined plans to scale its plant-cell biomanufacturing platform during a virtual conference, projecting consolidated revenue of $37 million to $40 million in 2026. The company, which develops nutraceuticals, cosmeceuticals, and pharmaceuticals using a non-GMO process called Botanical Synthesis, also provided updates on its product pipeline and commercial partnerships.
The company reported approximately $35 million in total revenue for 2025, including over $2 million from its contract development and manufacturing organization (CDMO) segment. Cumulative sales of its flagship VINIA product, derived from red grape cells, have surpassed $100 million since commercialization. VINIA’s piceid resveratrol content is amplified 100-fold compared to natural sources, with a single 400 mg capsule equivalent to 1,000 grapes or one bottle of red wine without sugar or alcohol. About 20% of VINIA revenue comes from Amazon, with the remainder generated through the company’s direct-to-consumer website.
BioHarvest has invested roughly $100 million in its technology platform and holds 15 patents. Current manufacturing capacity stands at 20 to 25 tons, with a new facility under construction. The company’s gross profit margin is nearly 59%, though free cash flow remains negative at $10.75 million over the last twelve months, and net loss stands at $0.53 per share.
For 2026, BioHarvest projects direct-to-consumer revenue of $33 million to $35 million, alongside a $37 million to $40 million consolidated total. Additional revenue streams include a $20 million to $30 million fragrance supply agreement spanning 2027–2028, covering 20 tons of a compound derived from an aromatic tree source. CDMO revenue potential per development stage ranges from $500,000 to $1 million, depending on project complexity.
The company’s pipeline includes an olive-based product featuring verbascoside amplified 15 times, a pomegranate-based product in development, and partnerships with Tate & Lyle on two natural sweetener molecules. BioHarvest also holds minority stakes in saffron-based compounds and a fragrance molecule targeting a $15 billion annual market. A $21 million capital raise completed in late 2024 funded the new manufacturing facility.
Shares of BioHarvest closed at $2.02 in regular trading, down 1.46%, before rising 1.98% to $2.06 in after-hours activity. The stock has traded between $1.82 and $12.80 over the past 52 weeks.
