BioHarvest Sciences Inc. (NASDAQ:BHST), a biotechnology company known for its patented Botanical Synthesis technology, reported a 39% increase in third-quarter revenue, driven by growth in its core VINIA capsule business and expanding contract development and manufacturing (CDMO) operations.
Total revenues for the quarter ended September 30 rose to $9.1 million, in line with management guidance. The company said its US active VINIA users now exceed 75,000.
Gross profit margin improved to 61%, up from 57% in the same period a year ago.
For the fourth quarter, management expects revenue between $9 million and $9.5 million, with adjusted EBITDA forecasted loss between $600,000 to breakeven.
CEO Ilan Sobel highlighted continued momentum across BioHarvest’s product portfolio. “The third quarter of 2025 was underscored by continued strong operational performance, as we exceeded our revenue targets and moved closer to our near-term goal of achieving adjusted EBITDA breakeven,” Sobel said. “Our results were fueled by sustained growth in our core VINIA capsule business as well as the expanding success of our ‘VINIA Inside’ product portfolio and an increasingly significant CDMO customer base.”
BioHarvest announced a breakthrough in producing plant-based exosomes at scale in a bioreactor, opening potential new revenue streams. The company also initiated an early adopter rollout of its VINIA Blood Flow Hydration Solution, with a market-wide launch planned for early December. The six-flavor product targets the US electrolyte hydration market, valued at more than $17 billion.
On the CDMO side, BioHarvest secured a new customer, Saffron Tech, to develop saffron-derived compounds using its Botanical Synthesis platform. BioHarvest will retain 25% ownership of the compound.
Sobel noted progress in the company’s professional affiliate program, onboarding 75 “Health Pros” to sell VINIA products, with a year-end target of 300 participants.