BioHarvest posts higher Q2 revenue, secures manufacturing deal for premium fragrance compound

BioHarvest posts higher Q2 revenue, secures manufacturing deal for premium fragrance compound

Tue, August 11, 2026 at 3:41 PM GMT+3 3 min read

• BHST +3.61%

BioHarvest Sciences Inc (NASDAQ:BHST, FRA:8MV0) reported higher second-quarter revenue as the plant-based molecule developer shifted spending toward manufacturing capacity.

Revenue for the quarter was $8.8 million, up 3.8% from a year earlier. Net loss narrowed to $3.7 million, or $0.17 per share, from $4.1 million, or $0.24 per share, a year earlier. Gross profit was $5.1 million, or 58% of revenue, compared with 59% of revenue in the same period last year.

Total operating expenses rose to $7.6 million from $6.9 million, driven by technology development spending in the CDMO services unit and investment in a new marketing strategy for the products business.

Adjusted EBITDA loss widened to $1.6 million from $1.2 million a year earlier.

Cash and cash equivalents, together with bank deposits, totaled $16.25 million as of June 30, compared with $3.7 million a year earlier.

"BioHarvest is transitioning from proving the breadth of our Botanical Synthesis technology across multiple industries to selectively converting our highest-value opportunities into recurring manufacturing revenue, royalties and sustainable profitability," CEO Dr Zaki Rakib told shareholders.

BioHarvest revised its full-year guidance, tightening its expected CDMO revenue range to $4 million to $5 million from $4 million to $6 million, while lowering VINIA D2C revenue guidance to $33 million to $35 million from $38 million to $42 million. Consolidated EBITDA losses are now expected to be in the range of $3 million to $5 million, compared with a previous expected loss of $3 million to $4 million.

Concurrently, BioHarvest announced a new agreement with an existing UAE-based customer that secures scaled production of a rare fragrance ingredient. BioHarvest described the ingredient as one of the most valuable raw materials in the global fragrance industry, with premium grades commanding prices exceeding tens of thousands of dollars per kilogram and growing demand across the Middle East, Asia and Western luxury perfume markets. The deal covers anticipated production of 20 tons, with limited production expected to begin as early as the first half of 2027.

"This is another milestone that validates the versatility and commercial potential of our Botanical Synthesis technology as a horizontal platform, broadly applicable to high-value, high-margin industries and serves as a model for attractive future economics for our business," Rakib added.

The company also pointed to progress on other fronts, including a $1.4 million grant from the Israel Innovation Authority in July to support predictive AI in its research pipeline and factory automation, and an expanded sweetener development collaboration with Tate & Lyle covering multiple plant-based molecules.

The company's VINIA wellness brand had approximately 95,000 active customers at the end of July, with revenue growth of 2% year-over-year in the second quarter. BioHarvest implemented its first US pricing change since 2021 in June, raising prices by up to 20% for new subscription customers from their second order.