BioHarvest Sciences (BHST) Investor presentation summary

Business model and guidance

• 2026 revenue guidance: $37–40M total, including $33–35M D2C and $4–5M CDMO, excluding internal VINIA transfers.

• D2C is led by VINIA, with subscription sales and planned expansion into hydration, chews and hot beverages; the strategy is to move the business toward profitability and disciplined cash generation.

• The platform combines D2C products with CDMO development, manufacturing and potential royalty economics across four industries.

• 2025 revenue was reported at $35M, with $100M in cumulative sales; the presentation also cites 15 patents.

Plant cell platform and infrastructure

• Proprietary plant-cell culture uses a cell line derived from one plant, then propagates it in industrial bioreactors to produce plant-derived molecules at scale.

• Claimed platform benefits include controlled consistency and purity, non-GMO production, lower COGS versus extraction, and enhanced potency through elicitation methods.

• Current annual production capacity is 20–25 tons, with a stated expansion path to 75+ tons; historical facility capex was $5M.

• AI-supported computer vision, sensor data fusion and predictive models are intended to improve yield, consistency, discovery and scale-up throughput.

Commercial and development pipeline

• Four third-party programs are advancing across cosmetics and fragrances, nutraceuticals, pharma and biotech, and nutrition and sweeteners.

• A 20-ton manufacturing and supply agreement for a rare botanical luxury fragrance is expected to generate $20–30M revenue in 2027–2028.

• The fragrance program completed Stage 1 and entered Stage 2; a manufacturing and supply agreement was signed in Q3 2026.

• The Saffron Tech program completed Stage 1 in Q2 2026; the Tate & Lyle program added a second sweetener molecule after the platform demonstrated production capability for the targeted molecule in Q4 2026.

• CDMO economics progress from paid development stages to commercial manufacturing revenue and potential royalties or ownership participation.