BioHarvest Secures 20-Ton Fragrance Agreement as Revenue Rises 3.8%
The botanical synthesis company reported second quarter revenue of $8.8 million
BioHarvest Sciences Inc. (BHST), a developer of botanical synthesis technology, signed a manufacturing agreement with a UAE-based customer to produce a rare botanical fragrance. The company expects the agreement to support a 20-ton commercial production program over two years and drive a profitable growth trajectory for its contract development and manufacturing organization (CDMO) business.
Total revenues for the three months ended June 30, 2026, were $8.8 million, an increase of 3.8% compared to the $8.5 million reported in the same period in 2025. For the six months ended June 30, 2026, revenues reached $17.3 million, up from $16.4 million in the prior-year period.
Despite the revenue growth, the company reported a net loss and comprehensive loss of $3.7 million for the second quarter. This was an improvement from the $4.1 million loss recorded in the second quarter of 2025. The basic and diluted loss per share for the quarter was 0.17 a share, compared to 0.24 a share in the previous year.
For the first half of 2026, the company reported a net loss and comprehensive loss of $6.4 million, nearly flat compared to the $6.4 million loss for the same period in 2025. The six-month operating loss rose to $4.3 million from $3.5 million in 2025. This increase in operating loss occurred as total operating expenses for the six months climbed to $14.5 million from $13.2 million.
Cash flow from operating activities showed a widening deficit, with net cash used in operating activities reaching $4.2 million for the first six months of 2026, compared to $2.9 million in 2025. The company ended the period with $15.2 million in cash and cash equivalents, down from $23.0 million as of December 31, 2025.
Management stated it is transitioning from proving the breadth of its technology to converting high-value opportunities into recurring manufacturing revenue and royalties. The company also noted a deliberate choice to prioritize gross margin and cash discipline over top-line growth for its VINIA consumer business to redirect capital into manufacturing capacity.