BioHarvest Sciences to Host Virtual Shareholder Update December 13, 2023, 2:30pm ET
- Double-digit revenue growth quarter-over-quarter
- Improved gross profit margins
- Active planning for the launches of disruptive new products
- Q3 VINIA® revenues of USD 3.24M represent growth of 113% compared to Q3 2022 and 18% increase compared to Q2 2023
- Year over Year Q3 Gross Profit improved from 18% to 45%
- VINIA total active subscriber count grew by 213% Year over Year
- None.
Vancouver, British Columbia and Rehovot, Israel--(Newsfile Corp. - December 1, 2023) - BioHarvest Sciences Inc. ("BioHarvest" or the "Company") (CSE: BHSC) (OTCQB: CNVCF) announces that it is hosting the Q3 Performance Update Presentation on Wednesday, December 13, 2023, at 11:30 am PST | 2:30 pm EST. The interactive session will be hosted by Ilan Sobel, CEO of BioHarvest Sciences.
"I am currently in Nashville, Tennessee, as part of a U.S. media and operational partner tour ahead of the imminent launch of our VINIA functional coffee, and I am energized by the positive and committed feedback I am receiving as I meet with our marketing, commercial, and investor partners," stated CEO Ilan Sobel, adding "As announced in our Q3 financials this week, we have achieved double-digit revenue growth quarter-over-quarter, we have improved our gross profit margins, and we are actively planning the launches of disruptive new products. I look forward to hosting the December 13 Shareholder Update and to answering questions from several hundred of our energized shareholder partners while enjoying a fresh mug of our delicious new VINIA coffee."
Mr. Sobel will discuss the Q3 2023 financials announced November 29, and he will provide additional information regarding the VINIA coffee launch and other major VINIA marketing programs and upcoming new product pipeline. Following the presentation, there will be a live question and answer session. 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
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
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 projected guidance by Q4 2023, as that is 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.
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/189526
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