BioHarvest Sciences Announces Major Product Launch of VINIA-Based Functional Coffees
- Significant growth in Q3 revenues, with a 113% increase compared to the previous year
- Q4 2023 revenue range guidance of USD 4.2M - 4.5M
- Year over Year Q3 Gross Profit improved from 18% to 45%
- VINIA total active subscriber count grew by 213% Year over Year
- Over 3,300 verified reviews with an average 4.8/5 stars
- Reported Net loss per share for Q3 2023 was 0.4 cents USD per share, for a total of USD 1.72M
- Continued improvement of gross margins expected in the next two quarters along with an increase in production capacity
- VINIA Superfood Coffee will be a unique disruptor in the
$6B US coffee pod market - First of three Major "VINIA Inside" Products to be Launched
- Q4 2023 corporate revenue range guidance of USD 4.2M - 4.5M
- Further validation of the Botanical Synthesis Technology Platform
Vancouver, British Columbia and Rehovot, Israel--(Newsfile Corp. - December 13, 2023) - BioHarvest Sciences Inc, (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) ("BioHarvest" or "the Company") announces that it has created a new "functional" coffee product line featuring VINIA® Red Grape Superfood, its flagship nutraceutical product. Tens of thousands of subscribers take VINIA® daily to improve blood flow, which enhances their physical energy and mental alertness, and now consumers can experience those same blood flow improvements conveniently together with one daily cup of great tasting VINIA® Superfood coffee, now available at www.vinia.com.
Image of VINIA SuperFood Coffee with a Keurig-style coffee maker
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6168/190879_cad4711c4458395a_002full.jpg
"We expect our Hot Beverages product line to be a disruptor in the USD
"Superior Science, Superior Taste and Superior Efficacy"
BioHarvest Sciences' mission is to "Bring the Power of the Plant to the People", and every product aligns with the strategy of "Superior Science, Superior Taste, and Superior Efficacy".
Superior Science- The BioHarvest Sciences Botanical Synthesis platform delivers non- GMO, fingerprint consistent plant cells with elicited levels of active phytochemicals not available in nature. All benefits and claims are supported by scientific studies and clinical trials.
Superior Taste- All product formulations are extensively taste-tested via blind quantitative taste test research versus market leaders. VINIA's sensory taste profile is especially suited to food and beverage formulations, as it has a uniquely neutral taste profile which pairs perfectly with other core ingredients. For the new VINIA coffees, BioHarvest has partnered with one of the world's top coffee makers, Seattle-based Joe's Garage to create a one-of-a-kind functional coffee with exceptional taste. In a blind taste-test of coffee drinkers, 2 out of 3 prefer VINIA® Superfood Coffee when compared to a leading "Better for You" National Coffee Brand (Competitor). In a blind taste-test of DECAF coffee drinkers, 2 out of 3 prefer VINIA Superfood DECAF over a leading decaf brand sold on Amazon.
Superior Efficacy: VINIA's Piceid Resveratrol is 25x more soluble in water than regular resveratrol. It enters the bloodstream on average only 20 minutes after ingestion and its bioavailability reaches a peak blood plasma level after one hour and remains bio-active in blood plasma for at least 12 hours. VINIA is clinically proven to significantly dilate arteries. It achieves this unique outcome by increasing Nitric Oxide levels in the blood (which act as a vasodilator) and by reducing the Endothelin-1 levels in the blood (which act as a vasoconstrictor).
BioHarvest Vice President of E-Commerce Jared Turner commented on how this product launch follows the Company's "Superior Science, Superior Taste, Superior Efficacy" strategy:
"VINIA is not only a highly effective product, but its taste neutrality, solubility and consistency advantage make it easy to integrate with food and beverage, and cosmetic formulations. We have chosen coffee as our first VINIA delivery mechanism, and it is just one example of how we can create products that intercept conveniently with the consumer's daily schedule and lifestyle activities, providing a pleasant, economical experience with healthy functional impact," stated Jared Turner, adding, "We are very bullish on the sales growth and revenue expectations for these disruptive products."
Images of VINIA SuperFood Coffee Packaging - Decaf and Medium Roast
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6168/190879_cad4711c4458395a_003full.jpg
BioHarvest currently has a Direct-to-Consumer focus, with
VINIA Superfood functional coffees are expected to be available in 2024 in Nespresso® compatible pods, and the Company has announced that it will add tea products to its Hot Beverages business, including black and green teas. The Company expects to release financial guidance on the new VINIA Superfood Coffee and Tea portfolio at the end of Q1, 2024.
Live Corporate Webinar December 13, 2:30 PM ET
BioHarvest Sciences will hold a LIVE Shareholder presentation on December 13 at 2:30pm Eastern Time, hosted by CEO Ilan Sobel. The interactive meeting will include a discussion of the December 2023 VINIA® Superfood Coffee Launch, the Q3 2023 financials announced November 29, and updates on additional major corporate initiatives.
A live question and answer session will follow the presentation. All media and investors are invited to pre-register. For any questions regarding the event, please contact info@bioharvest.com.
Link to register: https://us02web.zoom.us/webinar/register/WN_bLZXtZR3T9ijR_uqmdJA_w
VINIA Financial Performance
VINIA® US revenues and customer base have seen steady growth since its North American ecommerce launch in June 2021.
Q3 Corporate Highlights released November 29:
- Q3 VINIA® revenues of USD 3.24M represent growth of
113% compared to Q3 2022 and18% increase compared to Q2 2023 - Year over Year Q3 Gross Profit improved from
18% to45% - Q4 2023 revenue range guidance of USD 4.2M - 4.5M
- VINIA total active subscriber count grew by
213% Year over Year - VINIA has received over 3,300 verified reviews and scores an average 4.8/ 5 stars
Reported Net loss per share for Q3 2023 was 0.4 cents USD per share, for a total of USD 1.72M (compared to 2.85M in Q2 2023). With the continued improvement of gross margins expected in the next two quarters along with an increase in production capacity, management will be focusing on maximizing revenue delivery in 2024.
About BioHarvest Sciences
BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at an industrial scale, without the need to grow the plant itself. BioHarvest is currently focused on leveraging its botanical synthesis technology to develop the next generation of science-based and clinically proven therapeutic solutions, within two major business verticals - nutraceutical health and wellness products such as dietary supplements, and development of plant cell-based Active Pharmaceutical Ingredients (API's) that focus on specific medical indications.
BioHarvest Sciences Inc.
Ilan Sobel, Chief Executive Officer
For further information, please contact:
Dave Ryan, VP Investor Relations & Director Phone: 1 (604) 622 -1186
Email: info@bioharvest.com
Forward-Looking Statements
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 break-even by Q4 2023 or profitability in Q1 2024, as that is dependent on a combination of factors such as supply chain efficiencies, input cost stability, marketing efficiencies and uncertain consumer preferences. Break even and profitability dates are estimates and there is no assurance they will occur when estimated as the timing is dependent on consumer acceptance and cost stability and other factors beyond company control. 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.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/190879
FAQ
What is the ticker symbol for BioHarvest Sciences Inc.?
What is the expected revenue range for Q4 2023?
What is the VINIA Superfood Coffee product line known for?
What was the growth in Q3 VINIA revenues compared to the previous year?
What was the reported net loss per share for Q3 2023?
