Core Insights - BioHarvest Sciences reported a 47% increase in first-quarter revenues, reaching $7.9 million, surpassing management's guidance [3][8][11] - The growth was primarily driven by the VINIA® business, which achieved over 50,000 active subscribers by February 2025 [3][5] - The company is expanding its product offerings and marketing strategies to target younger consumer segments [4][7] Financial Performance - Total revenues for Q1 2025 increased to $7.9 million from $5.3 million in Q1 2024, marking a 47% year-over-year growth [8] - Gross profit rose by 53% to $4.6 million, with gross margins improving to 58.5% from 56.2% [9][22] - Operating expenses increased to $6.3 million, primarily due to higher marketing expenditures, but as a percentage of revenue, it decreased to 46.8% from 48.0% [10][22] Loss and Financing - The net loss for Q1 2025 was $2.3 million, a significant reduction from a net loss of $6.6 million in the same quarter of the previous year [11][22] - The company raised $3.9 million in debt financing during the quarter, increasing cash and cash equivalents to $3.4 million [12][24] Operational Highlights - The company is advancing its CDMO division, with successful validation of its botanical synthesis platform for various molecule types [5][6] - New product lines under the VINIA® brand are being introduced, including VINIA® SuperFood Tea and VINIA® Espresso, aimed at capturing a younger demographic [4][7] - The company anticipates continued growth in both its product and service units, with expectations of reaching adjusted EBITDA breakeven in the second half of 2025 [5][7]
BioHarvest Sciences Reports First Quarter 2025 Financial Results