BioHarvest Sciences Reports Fourth Quarter and Full Year 2023 Financial Results
BioHarvest Sciences Reports Fourth Quarter and Full Year 2023 Financial Results
- FY 2023 Revenue Increased 2.3x to $12.7 Million USD
- The Company expects Q1 2024 Revenue to be in the range of $5.2 million to $5.3 million and is providing Q2 2024 Revenue Guidance of $5.7-$6.0 million
- Management pursuing Nasdaq listing by end of year. General and Special meeting called to approve share consolidation and additional independent director to comply with Nasdaq listing requirements
- 2023 财年收入增长了 2.3 倍,达到 1,270 万美元
- 该公司预计,2024年第一季度收入将在520万美元至530万美元之间,并将在2024年第二季度提供570万至600万美元的收入指导
- 管理层力争在年底前在纳斯达克上市。召开股东大会和特别会议以批准股票合并和增加独立董事以遵守纳斯达克的上市要求
Vancouver, British Columbia and Rehovot, Israel--(Newsfile Corp. - April 30, 2024) - BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) ("BioHarvest" or the "Company"), a biotechnology company pioneering its patented Botanical Synthesis technology platform, today reported its financial and operational results for the fourth quarter and full year ended December 31, 2023. The Company is also announcing an Annual and Special General Meeting as part of its intention to uplist to Nasdaq by year-end as the Company seeks to enhance its capital markets visibility with retail and institutional investors.
不列颠哥伦比亚省温哥华和以色列雷霍沃特--(Newsfile Corp.,2024年4月30日)——开创其专利植物合成技术平台的生物技术公司BioHarvest Sciences Inc.(CSE:BHSC)(场外交易代码:CNVCF)(“BioHarvest” 或 “公司”)今天公布了截至2023年12月31日的第四季度和全年财务和经营业绩。该公司还宣布召开年度和特别股东大会,这是其计划在年底前在纳斯达克上市的一部分,因为该公司正在寻求提高其资本市场在散户和机构投资者中的知名度。
Fourth Quarter & Subsequent 2024 Operational Highlights
第四季度及随后的2024年运营亮点
- Revenue grew 131% to $12.7 million in 2023, compared to $5.5 million in 2022. Fourth quarter revenue grew 85% to $4.5 million, as compared to $2.4 million in the fourth quarter of 2022.
- Fourth quarter 2023 gross margins improved to 51%, as compared to 27% in the fourth quarter of 2022. Full year 2023 gross margins improved to 45%, as compared to 22% in 2022.
- In the US, new customer and subscriber counts more than doubled, while marketing costs increased by only 48%, with customer churn and cost of acquisition both decreasing as well.
- The Company expects first quarter 2024 revenues to be in the range of $5.2 -$5.3 million and is providing second quarter 2024 revenue guidance of $5.7-$6.0 Million.
- Launched new 'Hot Beverage" lineup in December 2023, starting with VINIA Functional Coffees, with additional VINIA products in the near-term product pipeline.
- Launched a Contract Development and Manufacturing Organization (CDMO) business unit in the first quarter of 2024 and signed two contracts to develop patentable, plant-based molecules; one for a Nasdaq listed pharmaceutical company, and another for a leading player in the nutrition and ingredients industry.
- Appointed senior hires to spearhead key initiatives as part of the CDMO services business unit, including Professor Itay Mayrose, Ph.D., Senior Artificial Intelligence (AI) Scientist, Matt Zrebiec, VP of Business Development, and life sciences executive Anna Tenstam as VP of Business Development- Cosmeceuticals and Injectables.
- Announced plan to expand manufacturing footprint with the opening of a new corporate campus to consolidate the Company's corporate offices, R&D efforts and build a future 50 Ton production footprint under one roof.
- To meet the Nasdaq listing requirements, the Company has announced its Annual and Special General Meeting will be held on May 27, 2024, to seek shareholder approval for a share consolidation to meet the minimum share price requirements of Nasdaq and to allow the Company's shares to be eligible for margin trading. The proposed share consolidation is 35-1.
- The Company is also proposing to add an additional independent director in order to meet Nasdaq corporate governance requirements. The Company proposes to nominate Anne Binder of Paris France, who is an Independent advisor to financial groups, board member for various not for profit organizations, and a Director of Lectra, from 2011 to April 2023.
- In the event a listing is completed, it is contemplated that the common shares of the Company would continue to trade in Canada on the Canadian Securities Exchange
- 收入增长了131%,达到2023年的1,270万美元,而2022年为550万美元。第四季度收入增长了85%,达到450万美元,而2022年第四季度为240万美元。
- 2023年第四季度的毛利率提高到51%,而2022年第四季度的毛利率为27%。2023年全年毛利率提高至45%,而2022年为22%。
- 在美国,新客户和订户数量翻了一番多,而营销成本仅增长了48%,客户流失率和收购成本也都下降了。
- 该公司预计,2024年第一季度的收入将在520万美元至530万美元之间,并提供2024年第二季度的收入指导,为570万至600万美元。
- 2023年12月推出了新的 “热饮” 产品线,首先是VINIA功能性咖啡,其他VINIA产品将在短期产品线中推出。
- 2024年第一季度成立了合同开发和制造组织(CDMO)业务部门,并签署了两份开发可获得专利的植物基分子的合同;一份针对纳斯达克上市制药公司,另一份针对营养和配料行业的领先企业。
- 任命资深员工作为CDMO服务业务部门的一部分领导关键举措,包括伊泰·梅罗斯博士、高级人工智能(AI)科学家伊泰·梅罗斯教授、业务发展副总裁马特·兹雷比克以及担任药妆和注射剂业务发展副总裁的生命科学高管安娜·滕斯塔姆。
- 宣布计划通过开放新的公司园区来扩大制造足迹,以整合公司的公司办公室和研发工作,并在一个屋檐下建立未来的50吨产量。
- 为了满足纳斯达克的上市要求,公司宣布其年度和特别股东大会将于2024年5月27日举行,以寻求股东批准股票合并,以满足纳斯达克的最低股价要求,并允许公司的股票有资格进行保证金交易。拟议的股份合并为35-1。
- 该公司还提议增加一名独立董事,以满足纳斯达克公司治理要求。该公司提议提名法国巴黎的安妮·宾德在2011年至2023年4月期间担任金融集团的独立顾问、各种非营利组织的董事会成员和力克的董事。
- 如果上市完成,预计该公司的普通股将继续在加拿大证券交易所进行交易
Management Commentary
管理层评论
Ilan Sobel, Chief Executive Officer of BioHarvest Sciences, said: "I am pleased to report that our 2023 revenues grew 131%, driven by continued strong VINIA sales. We have seen significant growth on our core nutraceutical capsule business combined with additional "VINIA Inside" products, such as our Hot Beverage line up, which are expected to continue to drive consistent revenue growth in 2024.
BioHarvest Sciences首席执行官伊兰·索贝尔表示:“我很高兴地向大家报告,在VINIA持续强劲销售的推动下,我们的2023年收入增长了131%。我们的核心营养胶囊业务显著增长,加上其他 “VINIA Inside” 产品,例如我们的热饮系列,这些产品预计将在2024年继续推动收入的持续增长。
"Our focus on margin optimization and driving efficiencies across the organization drove a substantial increase in gross margins, which grew to 50.7% in the fourth quarter of 2023, as compared to 27.3% a year ago. In 2024 we are focused on further optimizing our e-commerce processes and our cost of customer acquisition, which are key aspects in our goal of reaching EBITDA profitability in the second half of 2024.
“我们对利润率优化和提高整个组织效率的关注推动了毛利率的大幅增长,毛利率在2023年第四季度增长至50.7%,而去年同期为27.3%。2024年,我们将专注于进一步优化我们的电子商务流程和客户获取成本,这是我们在2024年下半年实现息税折旧摊销前利润盈利目标的关键方面。
"The launch of our CDMO business unit with the guidance of Chairman Dr. Zaki Rakib marked another milestone in our history. As a CDMO, we can leverage our expertise in Botanical Synthesis to develop patentable, plant-based molecules to solve some of the most pressing problems facing the industry today. In addition to generating revenue with our research initiatives for CDMO customers, this business unit provides another incredible avenue towards monetization in the form of royalties on future commercial sales for any molecule we develop, providing significant long-term upside.
“在董事长扎基·拉基布博士的指导下,我们的CDMO业务部门的成立标志着我们历史上的又一个里程碑。作为CDMO,我们可以利用我们在植物合成方面的专业知识来开发可获得专利的植物基分子,以解决当今行业面临的一些最紧迫的问题。除了通过我们的研究计划为CDMO客户创造收入外,该业务部门还为我们开发的任何分子提供了另一种不可思议的货币化途径,其形式是为我们开发的任何分子的未来商业销售收取特许权使用费,从而提供了可观的长期上升空间。
"The opening of our new corporate campus in Israel - where we can consolidate our various corporate offices, R&D, and production facilities under a single roof - will help to streamline costs, build new capabilities, and add capacity. This facility features twelve state-of-art clean rooms which will support our acquisition of new CDMO Services customers, and which will enable us to build a future 50 Ton per year production facility using our next-generation manufacturing processes.
“我们在以色列开设新的企业园区——我们可以在那里将各种公司办公室、研发和生产设施整合到一个屋檐下——将有助于简化成本、建立新能力和增加产能。该工厂拥有十二个最先进的洁净室,这将支持我们收购新的CDMO服务客户,这将使我们能够使用下一代制造工艺建造未来每年50吨的生产设施。
Sobel continued, "2023 was a transformational year for BioHarvest, and our management team is of the opinion that the timing is now right to proceed with our strategic goal of pursuing a Nasdaq uplisting. The Nasdaq provides growth-oriented companies such as BioHarvest greater exposure to the largest capital market in the world. We have posted strong quarter over quarter revenue growth in our Products Business Unit, we have launched a CDMO Services Business Unit to accelerate research and revenues, and we recently announced a state-of-the-art campus to consolidate both of these growing verticals. Our commitment to operational execution now sees us working towards EBITDA break even by Q3 2024, and with the strong fundamentals that our growing business now boasts, we are confident that the revised capital structure and potential increase in liquidity associated with a Nasdaq listing will be attractive to both US institutional and retail investors."
索贝尔继续说:“2023年对BioHarvest来说是变革性的一年,我们的管理团队认为,现在是推进我们在纳斯达克上市的战略目标的时机。纳斯达克为BioHarvest等以增长为导向的公司提供了更多进入全球最大资本市场的敞口。我们的产品业务部门公布了强劲的同比收入增长,我们成立了CDMO服务业务部门以加快研究和收入,最近我们还宣布建造一个最先进的园区,以整合这两个不断增长的垂直行业。现在,我们对运营执行的承诺使我们努力在2024年第三季度实现息税折旧摊销前利润收支平衡,凭借我们目前不断增长的业务所拥有的强劲基本面,我们相信,与纳斯达克上市相关的修订资本结构和潜在的流动性增加将对美国机构和散户投资者都具有吸引力。”
LIVE Shareholder Update to be held May 2, 2024, at 2:30PM ET
股东最新情况直播将于美国东部时间2024年5月2日下午 2:30 举行
All interested investors and media are invited to join the May 2 Shareholder Update, to be hosted by CEO Ilan Sobel and Chairman and President Zaki Rakib. Management will provide their comments on the 2023 Financial results, on the recent acquisition of a new corporate campus, and on the proposed path to the Company's planned Nasdaq listing. The Shareholder Update will be live and will feature a Q+A session.
邀请所有感兴趣的投资者和媒体参加5月2日的《股东最新情况》,该报告将由首席执行官伊兰·索贝尔和董事长兼总裁扎基·拉基布主持。管理层将对2023年财务业绩、最近收购新企业园区以及公司计划在纳斯达克上市的拟议路径发表评论。《股东最新消息》将上线,并将以问答环节为特色。
Register here:
在这里注册:
Fourth Quarter & Fiscal Year 2023 Financial Results
第四季度和2023财年财务业绩
Revenue for the fourth quarter of fiscal 2023 increased 85% to $4.5 million, as compared to $2.4 million in the fourth quarter of 2022. Revenue for fiscal 2023 increased 131% to $12.7 million, as compared to $5.5 million in the prior year. The increase was largely attributable to growth in VINIA subscribers and new customers, which both grew by over 100% year-over-year.
2023财年第四季度的收入增长了85%,达到450万美元,而2022年第四季度为240万美元。2023财年的收入增长了131%,达到1,270万美元,而去年同期为550万美元。增长主要归因于VINIA用户和新客户的增长,两者同比增长均超过100%。
Gross profit increased 244% to $2.3 million, or 50.7% of total revenues, in the fourth quarter of fiscal 2023, as compared to $0.7 million, or 27.3% of total revenues, in the same year-ago quarter. Gross profit increased 362% to $5.6 million, or 44.5% of total revenues, in fiscal 2023, as compared to $1.2 million, or 22.2% of total revenues, in the prior year. The increase in gross margin was primarily attributable to the benefits of increased manufacturing scale, improved manufacturing yields, and cost reductions in downstream packaging and delivery costs.
2023财年第四季度的毛利增长了244%,达到230万美元,占总收入的50.7%,而去年同期为70万美元,占总收入的27.3%。2023财年的毛利增长了362%,达到560万美元,占总收入的44.5%,而去年同期为120万美元,占总收入的22.2%。毛利率的增长主要归因于制造规模的扩大、制造产量的提高以及下游包装和交付成本降低所带来的好处。
Net cash used in operating activities totaled $3.0 million in the fourth quarter of fiscal 2023, as compared to $2.5 million in the same year-ago quarter. Net cash used in operating activities totaled $8.5 million in fiscal 2023, as compared to $9.2 million in the prior year.
2023财年第四季度用于经营活动的净现金总额为300万美元,而去年同期为250万美元。2023财年用于经营活动的净现金总额为850万美元,而去年同期为920万美元。
Net loss for the fourth quarter of fiscal 2023 totaled $7.2 million, or $0.02 per basic and diluted share, as compared to a net loss of $2.8 million, or $0.00 per basic and diluted share, in the same year-ago quarter. Net loss for fiscal 2023 totaled $12.6 million, or $0.03 per diluted share, as compared to a net loss of $11.2 million, or $0.02 per diluted share, in the prior year. Net loss for fiscal 2023 included $1.3 million of non-operating derivative expenses.
2023财年第四季度的净亏损总额为720万美元,合每股基本亏损和摊薄后每股亏损0.02美元,而去年同期净亏损280万美元,基本和摊薄后每股亏损0.00美元。2023财年的净亏损总额为1,260万美元,摊薄每股亏损0.03美元,而上一财年的净亏损为1,120万美元,摊薄每股亏损0.02美元。2023财年的净亏损包括130万美元的非营业衍生品支出。
Cash and cash equivalents as of December 31, 2023, increased to $5.4 million, as compared to $1.7 million as of December 31, 2022.
截至2023年12月31日,现金及现金等价物增至540万美元,而截至2022年12月31日为170万美元。
About BioHarvest Sciences Inc.
BioHarvest 科学公司简介
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) is a leader in Botanical Synthesis, leveraging its patented technology platform to grow plant-based molecules, without the need to grow the underlying plant. BioHarvest is leveraging its botanical synthesis technology to develop the next generation of science-based and clinically proven therapeutic solutions within two major business verticals; as a contract development and production organization (CDMO) on behalf of customers seeking complex molecules, and as a creator of proprietary nutraceutical health and wellness products, which includes dietary supplements. To learn more, please visit .
BioHarvest Sciences Inc.(CSE:BHSC)(场外交易代码:CNVCF)(FSE:8MV)是植物合成领域的领导者,利用其专利技术平台培育植物基分子,无需种植底层植物。BioHarvest正在利用其植物合成技术在两个主要垂直业务领域开发基于科学且经过临床验证的下一代治疗解决方案;作为代表寻求复杂分子的客户的合同开发和生产组织(CDMO),以及作为专有营养保健品健康和保健产品(包括膳食补充剂)的创造者。要了解更多信息,请访问。
Forward-Looking Statements
前瞻性陈述
Information set forth in this news release might include forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Launching new products is subject to risks and uncertainties including the risk that the market will not accept the product or that government approvals required for sale or import of the products will not be obtained. There is no assurance that the Company will reach projected Q1 or Q2 2024 revenue guidance, or become EBITDA break even in Q3 2024, as these are dependent on a combination of factors such as supply chain efficiencies, input cost stability, marketing efficiencies and uncertain consumer preferences. Revenue projections are estimates and there is no assurance will occur when estimated as the timing is dependent on consumer acceptance and cost stability and other factors beyond company control. Although the Company believes that it will be able to meet the requirements for Nasdaq listing in the coming months there is no assurance that a listing will occur within the expected time frame or at all, as listing will be subject to the company being able to meet listing criteria, including being registered under US Securities Laws, a history of trading at certain price levels, and financial and share distribution requirements. Some of these requirements may be affected by matters beyond the control of the company such as conditions impacting markets generally or changes in requirements.
本新闻稿中提供的信息可能包括基于管理层当前估计、信念、意图和预期的前瞻性陈述,并且存在许多风险和不确定性,这些风险和不确定性可能导致实际业绩与前瞻性陈述中描述的结果存在重大差异。推出新产品面临风险和不确定性,包括市场不接受该产品或无法获得销售或进口产品所需的政府批准的风险。无法保证公司将达到预计的2024年第一季度或第二季度收入指导,或在2024年第三季度实现息税折旧摊销前利润收支平衡,因为这些都取决于供应链效率、投入成本稳定性、营销效率和不确定的消费者偏好等多种因素。收入预测是估计值,无法保证估算时会发生,因为时机取决于消费者的接受程度和成本稳定性以及公司无法控制的其他因素。尽管该公司认为在未来几个月内将能够满足纳斯达克上市的要求,但无法保证上市将在预期的时间范围内或根本无法保证,因为上市将取决于该公司能否满足上市标准,包括根据美国证券法注册、特定价格水平的交易历史以及财务和股票分配要求。其中一些要求可能会受到公司无法控制的事项的影响,例如普遍影响市场的条件或要求的变化。
All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.
所有前瞻性陈述本质上都是不确定的,实际结果可能会受到许多我们无法控制的重大因素的影响。读者不应过分依赖前瞻性陈述。除了通过我们的定期管理层讨论和分析披露外,BHSC不打算更新前瞻性陈述的披露。
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
加拿大证券交易所及其监管服务提供商均不对本新闻稿的充分性或准确性承担责任。
This release has been reviewed and approved by Dave Ryan, VP Investor Relations, who accepts responsibility for its contents.
本新闻稿已由投资者关系副总裁戴夫·瑞安审查和批准,他对其内容承担责任。
BioHarvest Corporate Contact:
Dave Ryan, VP Investor Relations & Director
+1 (604) 622-1186
info@bioharvest.com
BioHarvest 公司联系方式
投资者关系副总裁兼董事戴夫·瑞安
+1 (604) 622-1186
info@bioharvest.com
Investor Relations Contact:
Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
+1 (949) 259-4987
BHSC@mzgroup.us
投资者关系联系人:
卢卡斯·A·齐默尔曼
董事总经理
MZ 集团-MZ 北美
+1 (949) 259-4987
BHSC@mzgroup.us