Curated News
By: NewsRamp Editorial Staff
April 30, 2024
BioHarvest Sciences Reports Strong Financial Performance, Eyes Nasdaq Listing
TLDR
- BioHarvest Sciences' revenue surged by 131% to $12.7 million in 2023, with gross margins improving to 51% in the fourth quarter.
- The company's revenue guidance for the first and second quarters of 2024 is expected to range between $5.2-$5.3 million and $5.7-$6.0 million, respectively.
- BioHarvest Sciences' commitment to unlocking greater shareholder value and expanding its presence in the US market is evident through its strong financial performance and strategic initiatives.
- BioHarvest Sciences launched a new 'Hot Beverage' lineup in December 2023, starting with VINIA® Functional Coffees, with additional VINIA® products in the pipeline.
Impact - Why it Matters
The news highlights BioHarvest Sciences' impressive financial growth, strategic market expansion, and plans for a Nasdaq listing, showing the company's commitment to shareholder value and market presence. It also signals potential opportunities for investors and consumers interested in the company's innovative products.
Summary
BioHarvest Sciences CEO Ilan Sobel shared the company's financial results, reporting a 131% revenue increase in 2023. Gross margins improved, and US market growth was significant. Revenue guidance for 2024 was provided, and the company plans to list on the Nasdaq Exchange. BioHarvest Sciences also launched a new 'Hot Beverage' lineup, including VINIA® Functional Coffees.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, BioHarvest Sciences Reports Strong Financial Performance, Eyes Nasdaq Listing
