Riverwater Partners, an investment management company, released its “Small Cap Strategy” Q4 2025 investor letter. A copy of the letter can be downloaded here. The Strategy underperformed the Russell 2000 Index during the fourth quarter as well as in FY2025. The stock selection drove the underperformance of the Strategy in the quarter. The strategy’s emphasis on high-quality stocks lagged behind broader market trends. However, the firm expects the environment to be more favorable for high-quality businesses ...

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company operates with a team of experienced and qualified news journalists, ensuring independent content production [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The news team delivers insights across various sectors, including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

Core Insights - BioHarvest Sciences achieved a significant milestone in 2025, marking its first full year as a NASDAQ-listed company with an annualized revenue run rate exceeding US$36 million and gross margins above 60% [1] - The company is focused on expanding its D2C Products and CDMO Services business units, aiming for continued growth and achieving adjusted EBITDA breakeven in the near term [1] D2C Products Business - The D2C Products business, particularly the VINIA® brand, has seen aggressive growth and product diversification, leveraging the 'VINIA Inside' strategy to enhance brand awareness and market penetration [2] - The VINIA Blood Flow Hydration Solution has received positive consumer feedback and is positioned to capture a share of the US$13 billion Electrolyte Hydration market [3] - Active users of VINIA products have exceeded 85,000, with over 90% of purchases being subscription-based, indicating a strong and predictable revenue stream [4] CDMO Services Division - The CDMO Services division reached a critical inflection point in 2025, securing partnerships across various industries and validating the commercial relevance of its Botanical Synthesis platform [5] - The division is working on two major new plant-based compounds, including a fragrance compound and a saffron-derived compound, with significant market potential [6] - The expectation is that CDMO revenues will surpass those of the Products division as the business continues to scale [6] Financial Strength and Growth - The company improved its balance sheet in 2025, raising approximately US$30.8 million through various financing methods, positioning itself for further growth and efficiency [7] - Increased analyst coverage and trading volume following the NASDAQ listing are seen as positive indicators for achieving a fair market valuation [8] - BioHarvest is fully funded for operational objectives and strategic capital investments, including the development of a new corporate campus and expanded manufacturing facilities [9] Future Priorities - The company's priorities include accelerating revenue growth, expanding margins, and reaching adjusted EBITDA breakeven while executing against a growing CDMO pipeline and expanding the VINIA product ecosystem [11]

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Vancouver, British Columbia and Rehovot, Israel--(Newsfile Corp. - December 18, 2025) - BioHarvest Sciences Inc. (NASDAQ: BHST) (FSE: 8MV0) ("BioHarvest" or the "Company"), a biotechnology company pioneering its proprietary Botanical Synthesis™ platform, today announced that it has been awarded a $1.6 million grant from the Israeli Innovation Authority (IIA). The grant was approved under the IIA's Bio-Convergence program, which supports technologies at the intersection of biology, engineering, data science ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Core Insights - BioHarvest Sciences Inc. has launched VINIA Blood Flow Hydration™, the first hydration solution utilizing VINIA's Piceid resveratrol technology, entering the $13 billion U.S. electrolyte market [1][2][15] - The product aims to enhance hydration by improving blood flow, thereby facilitating more efficient delivery of fluids and electrolytes to the body [2][6][12] Product Overview - VINIA Blood Flow Hydration™ is designed to improve circulation and hydration, combining water, electrolytes, and red grape powder to enhance nutrient delivery [7][12] - The formulation includes 470 mg of sodium, 190 mg of potassium, and 80 mg of magnesium per serving, along with 6 mg of rapid absorption Piceid resveratrol [11][12] - The product is available in six flavors: Mixed Berry, Fruit Punch, Watermelon, Summer Orange, Lemonade, and Lemon Lime, developed by a former Coca-Cola flavor formulator [10][11] Market Strategy - The product is exclusively available at Vinia.com with free delivery across North America and will also be sold on Amazon by the end of December [15] - BioHarvest aims to differentiate itself in the hydration market by leveraging superior science, efficacy, and taste, targeting high double-digit revenue growth [7][15] Consumer Assurance - BioHarvest offers a 90-Day "Feel It or It's Free" guarantee, allowing customers to return the product if they are not satisfied [14] - Each batch of VINIA Blood Flow Hydration™ is tested for banned substances under the Informed Sport program, ensuring safety for athletes [13]

分组1 - BioHarvest Sciences Inc. reported a quarterly loss of $0.14 per share, which is an improvement from a loss of $0.16 per share a year ago, aligning with the Zacks Consensus Estimate [1] - The company posted revenues of $9.07 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 0.74%, but showing an increase from $6.54 million year-over-year [2] - The stock has increased approximately 27.8% since the beginning of the year, outperforming the S&P 500's gain of 16.5% [3] 分组2 - The earnings outlook for BioHarvest Sciences Inc. is uncertain, with current consensus EPS estimates at -$0.09 for the coming quarter and -$0.59 for the current fiscal year [7] - The Zacks Industry Rank for Medical - Biomedical and Genetics is in the top 35% of over 250 Zacks industries, indicating a favorable industry outlook [8] - The estimate revisions trend for BioHarvest Sciences Inc. was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it will perform in line with the market [6]

Financial Data and Key Metrics Changes - Total revenues increased 39% year-over-year to $9.1 million in Q3 2025, compared to $6.5 million in Q3 2024 [3][13] - Gross profit increased 50% to $5.6 million, representing 61% of total revenue, up from 57% in the same year-ago quarter [13][14] - Adjusted EBITDA loss narrowed to $0.4 million in Q3 2025 from a loss of $1.7 million in Q3 2024 [14] Business Line Data and Key Metrics Changes - Product revenue grew 30% to $8.4 million, while CDMO revenue surged 722% to $0.7 million [13][14] - Core capsules accounted for 88% of product revenues, with new products contributing approximately 30% of growth [4][5] Market Data and Key Metrics Changes - The US VINIA active user base exceeded 75,000 customers, contributing to revenue growth [3] - The launch of VINIA BloodFlow Hydration targets the $17 billion US electrolyte hydration market [9] Company Strategy and Development Direction - The company operates two business verticals: direct-to-consumer products and CDMO services, aiming to drive revenue from both branded products and B2B partnerships [4] - The recent capital raise of $19.9 million will fund the next growth phase, including tripling manufacturing capacity and expanding CDMO services [11][12] - The company aims to achieve adjusted EBITDA break-even by early 2026, with a focus on revenue growth and margin improvement [12][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive adjusted EBITDA soon, emphasizing the importance of scaling operations and maintaining cost discipline [15][17] - The company is focused on executing the rollout of new products and expanding its Health Pros Affiliate Program to enhance customer acquisition [16][17] Other Important Information - The company secured a new CDMO partnership with SaffronTech to develop saffron-derived compounds, retaining a 25% ownership of the resulting product [5][6] - Gross profit margins improved due to increased manufacturing scale and improved yields [14] Q&A Session Summary Question: Expectations for the ramp-up of the new hydration product - Management indicated a staged launch with initial positive responses and expects a quarter-on-quarter ramp-up in sales, particularly after the broader launch on December 3 [19][22] Question: Update on CDMO opportunities and SaffronTech agreement - Management detailed the collaboration with SaffronTech, emphasizing a fast-tracked development process and the potential for a quick market entry [24][26] Question: Progress on existing CDMO contracts - Management provided updates on ongoing CDMO agreements, highlighting progress in the cosmetic fragrance space and the Tate & Lyle agreement [32][33] Question: Long-term outlook for CDMO business - Management projected that by 2027-2028, approximately 75% of revenue could come from the CDMO business, with margins significantly higher than the product business [47][49] Question: Early success with the HealthPros program - Management reported strong early engagement and conversion rates from HealthPros, with plans to onboard 300 professionals by year-end [41][43]

Group 1 - Proactive specializes in providing fast, accessible, and actionable business and finance news content to a global investment audience [2][3] - The company focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - Proactive's news team operates from key finance and investing hubs, including London, New York, Toronto, Vancouver, Sydney, and Perth [2][3] Group 2 - Proactive is committed to technology adoption, utilizing various tools to enhance workflows and content production [4][5] - The company employs automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]