Tearsheet

BioHarvest Sciences (BHST)


Market Price (3/30/2026): $4.47 | Market Cap: $77.9 Mil
Sector: Consumer Staples | Industry: Packaged Foods & Meats

BioHarvest Sciences (BHST)


Market Price (3/30/2026): $4.47
Market Cap: $77.9 Mil
Sector: Consumer Staples
Industry: Packaged Foods & Meats

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 46%
Weak multi-year price returns
2Y Excs Rtn is -63%, 3Y Excs Rtn is -76%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -6.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -19%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -57%
  Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -29%
2 Megatrend and thematic drivers
Megatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Nutritional Supplements, Vegan Products, Show more.
  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -20%
3   Key risks
BHST key risks include [1] its continued unprofitability and reliance on potentially dilutive external financing, Show more.
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 46%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -57%
2 Megatrend and thematic drivers
Megatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Nutritional Supplements, Vegan Products, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -63%, 3Y Excs Rtn is -76%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -6.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -19%
5 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -29%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -20%
7 Key risks
BHST key risks include [1] its continued unprofitability and reliance on potentially dilutive external financing, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

BioHarvest Sciences (BHST) stock has lost about 35% since 11/30/2025 because of the following key factors:

1. Significant Share Dilution from Q4 2025 Equity Offering.

In November 2025, BioHarvest Sciences completed an upsized public offering of common stock, generating approximately $17.4 million to $19.9 million in gross proceeds. This substantial equity raise resulted in considerable dilution for existing shareholders, a factor that commonly places downward pressure on a company's stock price.

2. Persistent Net Losses and Slow Progress Towards Profitability.

BioHarvest Sciences continued to report net losses, with a net loss of $2.5 million in Q3 2025 and a trailing twelve-month net loss of -$11.89 million as of September 30, 2025. Despite management's projections for adjusted EBITDA break-even in Q4 2025 and a 39% year-over-year revenue increase in Q3 2025, the ongoing unprofitability and negative free cash flow likely weighed on investor sentiment, especially against previous higher stock valuations.

Show more

Stock Movement Drivers

Fundamental Drivers

The -35.8% change in BHST stock from 11/30/2025 to 3/29/2026 was primarily driven by a -35.8% change in the company's P/S Multiple.
(LTM values as of)113020253292026Change
Stock Price ($)6.734.32-35.8%
Change Contribution By: 
Total Revenues ($ Mil)33330.0%
P/S Multiple3.62.3-35.8%
Shares Outstanding (Mil)17170.0%
Cumulative Contribution-35.8%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/29/2026
ReturnCorrelation
BHST-35.8% 
Market (SPY)-5.3%23.1%
Sector (XLP)3.9%1.0%

Fundamental Drivers

The -47.2% change in BHST stock from 8/31/2025 to 3/29/2026 was primarily driven by a -51.0% change in the company's P/S Multiple.
(LTM values as of)83120253292026Change
Stock Price ($)8.184.32-47.2%
Change Contribution By: 
Total Revenues ($ Mil)30338.4%
P/S Multiple4.72.3-51.0%
Shares Outstanding (Mil)1717-0.6%
Cumulative Contribution-47.2%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/29/2026
ReturnCorrelation
BHST-47.2% 
Market (SPY)0.6%24.6%
Sector (XLP)2.8%-5.2%

Fundamental Drivers

The -17.6% change in BHST stock from 2/28/2025 to 3/29/2026 was primarily driven by a -43.3% change in the company's P/S Multiple.
(LTM values as of)22820253292026Change
Stock Price ($)5.244.32-17.6%
Change Contribution By: 
Total Revenues ($ Mil)223345.9%
P/S Multiple4.12.3-43.3%
Shares Outstanding (Mil)1717-0.5%
Cumulative Contribution-17.6%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/29/2026
ReturnCorrelation
BHST-17.6% 
Market (SPY)9.8%21.4%
Sector (XLP)1.1%-0.2%

Fundamental Drivers

The -31.5% change in BHST stock from 2/28/2023 to 3/29/2026 was primarily driven by a -89.4% change in the company's P/S Multiple.
(LTM values as of)22820233292026Change
Stock Price ($)6.304.32-31.5%
Change Contribution By: 
Total Revenues ($ Mil)433764.7%
P/S Multiple21.82.3-89.4%
Shares Outstanding (Mil)1317-24.9%
Cumulative Contribution-31.5%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/29/2026
ReturnCorrelation
BHST-31.5% 
Market (SPY)69.4%15.0%
Sector (XLP)23.1%2.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BHST Return100%-39%-28%12%-16%-17%-31%
Peers Return8%-67%26%-10%-22%5%-67%
S&P 500 Return27%-19%24%23%16%-5%72%

Monthly Win Rates [3]
BHST Win Rate42%33%42%58%58%0% 
Peers Win Rate54%20%57%45%37%47% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
BHST Max Drawdown0%-50%-46%-15%-20%-20% 
Peers Max Drawdown-18%-69%-34%-40%-46%-16% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-5% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: DNA, CDXS, TWST, NATR, USNA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)

How Low Can It Go

Unique KeyEventBHSTS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-78.7%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven370.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven224 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-72.2%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven259.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven246 days148 days

Compare to DNA, CDXS, TWST, NATR, USNA

In The Past

BioHarvest Sciences's stock fell -78.7% during the 2022 Inflation Shock from a high on 2/19/2021. A -78.7% loss requires a 370.1% gain to breakeven.

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About BioHarvest Sciences (BHST)

BioHarvest Sciences Inc. operates as a biotechnology company. The company operates through Nutraceuticals and Pharmaceuticals segments. It develops botanical synthesis platform technology to grow the ingredients in any plant enzymes or cells. The company is leveraging its botanical synthesis technology to develop science-based and clinically proven therapeutic solutions in nutraceuticals and pharmaceuticals verticals. It also operates as a contract development and manufacturing operation services. In addition, the company offers wellness products. Further, it offers VINIA, a red grape cell dietary supplement containing the matrix of polyphenols contained in red grapes. The company operates in Israel and the United States. BioHarvest Sciences Inc. is based in Vancouver, Canada.

AI Analysis | Feedback

Here are 1-3 brief analogies for BioHarvest Sciences (BHST):

  • Imagine Impossible Foods, but for lab-grown plant extracts and compounds used in health supplements and pharmaceuticals.
  • They're like Moderna, applying a unique 'botanical synthesis' platform technology to create a range of plant-based ingredients for health supplements and drugs.
  • Think of them as the Tesla for natural health ingredients, utilizing advanced biotech to produce specific plant compounds more consistently and sustainably.

AI Analysis | Feedback

  • VINIA: A red grape cell dietary supplement containing a matrix of polyphenols designed for wellness.
  • Therapeutic Solutions: Science-based and clinically proven solutions leveraging their botanical synthesis technology for both nutraceutical and pharmaceutical applications.
  • Contract Development and Manufacturing Operation (CDMO) Services: Services provided to other companies for the development and manufacturing of products utilizing their botanical synthesis platform.

AI Analysis | Feedback

BioHarvest Sciences Inc. primarily sells its flagship product, VINIA, a red grape cell dietary supplement, directly to individual consumers through its e-commerce platforms. Based on this direct-to-consumer model for its main revenue-generating product, the major customer categories are:

  1. Health-Conscious Individuals: This category includes consumers who are proactive about their health, seeking natural and scientifically-backed dietary supplements to support cardiovascular health, improve blood flow, and benefit from antioxidant properties. They are often informed about the benefits of polyphenols and look for innovative wellness solutions.
  2. Aging Population: Individuals, typically in their middle to later years, who are concerned with age-related health challenges, particularly those affecting cardiovascular function, cognitive health, and overall vitality. They seek supplements that can help maintain healthy aging and improve quality of life.
  3. Early Adopters and Wellness Enthusiasts: Consumers who are open to trying new biotechnology-derived health products and are interested in cutting-edge nutritional science. This group often researches product efficacy and embraces innovative approaches to personal wellness.

AI Analysis | Feedback

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AI Analysis | Feedback

Ilan Sobel, Chief Executive Officer

Ilan Sobel has been the CEO of BioHarvest Sciences since July 2020. Before joining BioHarvest, he spent six years at Weissbeerger as both Chief Operating Officer and Chief Commercial Officer, where he played a significant role in building a disruptive big data, IoT, and software company that was eventually acquired by Anheuser Busch InBev. Prior to Weissbeerger, Mr. Sobel held senior leadership positions for 18 years as an international employee of The Coca-Cola Company across various global markets. He initially became involved with BioHarvest as an investor before taking on the CEO role.

Bar Dichter, Chief Financial Officer

Bar Dichter was appointed Chief Financial Officer in October 2024. She joined BioHarvest in 2018 as Controller and was promoted to Vice President, Finance in July 2022. Before her tenure at BioHarvest, Ms. Dichter worked in the audit department of KPMG Israel.

Dr. Yochi Hagay, Chief Technology Officer

Dr. Yochi Hagay is a co-founder of BioHarvest Sciences, which was established in 2007. She previously served as both CEO and CTO of BioHarvest until 2017. Before co-founding the company, Dr. Hagay was the Managing Partner at Zaki Rakib's Bio-Tech Capital Venture, where she evaluated numerous scientific research projects and biotech companies. Her career also includes 15 years in various roles at BTG, until its acquisition by Savient. Dr. Hagay holds a PhD in biotechnology from Hebrew University.

Dr. Zaki Rakib, Chairman Of The Board / President, Botanical Synthesis CDMO Business Unit

Dr. Zaki Rakib co-founded BioHarvest in 2007. He serves as the Chairman of BioHarvest and President of the Botanical Synthesis CDMO Business Unit. Dr. Rakib has extensive experience across software, telecommunications hardware, semiconductors, cellular operations, and bioscience. He was also a co-founder of Terayon Communication Systems, a company credited with inventing the first cable modem and S-CDMA technology.

Dr. Ilana Belzer, Chief Operating Officer

Dr. Ilana Belzer brings extensive leadership and technical knowledge to her role as Chief Operating Officer. She previously held the position of COO at CollPlant Biotechnologies, a NASDAQ-listed company specializing in regenerative and aesthetics medicine. Prior to her time at CollPlant, Dr. Belzer served as COO at BioHarvest Ltd. from 2012 to 2015. She earned her Ph.D. in Microbiology and Cell Biology from Tel Aviv University.

AI Analysis | Feedback

Here are the key risks to the business of BioHarvest Sciences:

Key Risks to BioHarvest Sciences (BHST)

  1. Commercialization, Market Acceptance, and Intense Competition: BioHarvest Sciences faces significant risks in successfully commercializing its products, such as VINIA, and securing contracts for its CDMO services in highly competitive markets. The nutraceutical market, in particular, is described as intense, with numerous competitors. Launching new products is subject to uncertainties regarding market acceptance, evolving consumer tastes, trends, and the company's ability to effectively market and distribute its offerings.
  2. Regulatory and Clinical Trial Risks: As a biotechnology company developing "science-based and clinically proven therapeutic solutions" in both nutraceuticals and pharmaceuticals, BioHarvest Sciences is exposed to substantial regulatory hurdles. Obtaining government approvals for the sale and import of products, particularly for pharmaceutical applications, is a lengthy, costly, and uncertain process. Failure in clinical trials or inability to secure necessary regulatory clearances could significantly delay or prevent product commercialization.
  3. Execution Risk of Proprietary Technology and Achieving Profitability: The company's business model is fundamentally reliant on its "botanical synthesis platform technology". There is a risk that this technology may not consistently and cost-effectively produce high-purity compounds at the required commercial scale, or that competitors may develop superior alternatives. Furthermore, BioHarvest Sciences has been operating at a net loss, with high expectations for achieving adjusted EBITDA breakeven in the near future (e.g., Q4 2025 or H2 2025). This financial execution risk, coupled with a relatively high debt level, creates pressure to meet aggressive growth and profitability milestones to justify its valuation and ensure long-term sustainability.

AI Analysis | Feedback

The rapid advancement and commercialization of alternative precision fermentation and cellular agriculture platforms. While BioHarvest Sciences leverages a plant cell-based botanical synthesis platform, other biotechnology companies are increasingly utilizing microbial (e.g., yeast, bacteria) or other non-plant cell lines to produce complex, high-value ingredients traditionally derived from plants. If these alternative platforms prove to be significantly more scalable, cost-effective, or versatile in producing the same or functionally similar complex phytochemicals (such as polyphenols, cannabinoids, or other therapeutic compounds BioHarvest aims to develop), they could directly undermine BioHarvest's competitive advantage in ingredient manufacturing and its contract development and manufacturing operation services.

AI Analysis | Feedback

BioHarvest Sciences Inc. (NASDAQ: BHST) operates in several key markets, with significant addressable opportunities in the global nutraceutical, pharmaceutical, and contract development and manufacturing organization (CDMO) sectors.

Nutraceuticals Market

BioHarvest Sciences' flagship product, VINIA, is a red grape cell dietary supplement rich in polyphenols, including Piceid Resveratrol. This product falls within the broader nutraceuticals and dietary supplements markets. The global nutraceuticals market was estimated at approximately USD 596.81 billion in 2025 and is projected to reach around USD 1,104.66 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 8.00% from 2025 to 2033. Other estimates for the global nutraceuticals market size in 2025 range from USD 500.62 billion to USD 636.31 billion, with projections reaching between USD 1,124.56 billion and USD 1,328.63 billion by 2034 or 2035. Within this, the dietary supplements segment held the largest share in 2024 and is expected to be the fastest-growing category.

More specifically, the global polyphenol market, which includes ingredients like those found in VINIA, was valued at USD 2.12 billion in 2024. It is anticipated to grow to USD 3.65 billion by 2033, with a CAGR of 6.17% from 2025 to 2033. The dietary supplements application segment accounted for a significant portion, 32.96%, of the polyphenol market in 2025.

Pharmaceuticals Market

The company leverages its botanical synthesis platform to develop therapeutic solutions in the pharmaceuticals vertical. This aligns with the "Botanical and Plant-Derived Drugs Market." The global botanical and plant-derived drugs market is projected to grow from US$ 61.6 billion in 2025 to US$ 114.1 billion by 2032, at a CAGR of 9.2%. Another report estimates the global botanical drug market size at USD 41.85 billion in 2024, with an expected increase to USD 81.56 billion by 2034, growing at a CAGR of 6.9% during the forecast period of 2025 to 2034.

Furthermore, BioHarvest's botanical synthesis technology also contributes to the "plant-based API (Active Pharmaceutical Ingredient) market." This global market was estimated at USD 31.78 billion in 2024 and is projected to reach USD 53.21 billion by 2033, exhibiting a CAGR of 5.9% from 2025 to 2033. The pharmaceuticals segment alone held the largest revenue share in the plant-based API market, accounting for 63.29% in 2024.

Contract Development and Manufacturing Organization (CDMO) Services Market

BioHarvest Sciences also provides contract development and manufacturing operation services. The global pharmaceutical CDMO market size is substantial, with estimates placing it at approximately USD 197.40 billion in 2025. This market is projected to grow to USD 368.70 billion by 2034, at a healthy CAGR of 7.2% from 2024 to 2034. Other analyses indicate the global CDMO market to be around USD 220 billion in 2025, with projections reaching USD 420 billion by 2032-2034, growing at a 7.5% CAGR.

AI Analysis | Feedback

BioHarvest Sciences Inc. (NASDAQ: BHST) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

  1. Continued Growth of VINIA® Direct-to-Consumer Business: The company anticipates significant revenue growth from its flagship red grape cell-derived VINIA® line by expanding its direct-to-consumer business and increasing its subscriber base. Management has indicated expectations for continued substantial growth in this segment, building on a track record of doubling this business annually for the past three years.
  2. Expansion of "VINIA Inside" Strategy and New Product Launches: BioHarvest Sciences plans to leverage its VINIA® technology into new product categories. This includes the launch and scaling of its VINIA® SuperFood Coffee and SuperFood Tea lines, with K-cup compatible versions introduced in early 2025. Additionally, the company launched VINIA® Daily Chews 2X Formula in August 2025, and intends to enter the U.S. hydration solution and athlete supplement markets with VINIA® products by 2026.
  3. Growth in Contract Development and Manufacturing Organization (CDMO) Services: The CDMO division is poised for substantial growth through securing new contracts and advancing existing projects from Phase 1 to Phase 2. The company announced a new Stage 1 CDMO contract for a plant-based fragrance compound in Q2 2025 and a partnership with Tate & Lyle to develop plant-based sweeteners. BioHarvest also expects to identify new plant-based biological compounds using AI-enabled discovery tools, further expanding its CDMO revenue streams.
  4. Launch of "Health Pros" Professional Affiliate Program: Introduced in the second half of 2025, this program aims to broaden VINIA®'s market reach and enhance subscriber acquisition efficiency. It involves establishing a network of health practitioners, athletes, coaches, and health influencers who can promote VINIA® products to their significant social media followings.

AI Analysis | Feedback

Share Issuance

  • In August 2021, BioHarvest Sciences announced a private placement for up to CAD 4 million through the issuance of units, which included common shares and warrants, to accelerate its cannabis development program and production capacity in Israel.
  • In April 2022, the company announced a private placement of up to USD $5 million (approximately CAD $6.3 million) in convertible notes to finance production facilities and scale its polyphenols/antioxidants and cannabis verticals.
  • In November 2025, BioHarvest Sciences completed an underwritten public offering of 2,846,854 shares of common stock at $7.00 per share, generating gross proceeds of $19.9 million, including shares issued upon the exercise of the underwriters' option to purchase additional shares. The net proceeds from this offering are designated for immediate funding of additional manufacturing expansion, research and development, marketing, debt reduction or refinancing, other capital expenditures, and general corporate purposes.

Inbound Investments

  • In December 2025, BioHarvest Sciences was awarded a $1.6 million USD grant from the Israeli Innovation Authority (IIA) under its Bio-Convergence program, providing non-dilutive funding to advance its second-generation Botanical Synthesis™ process through AI integration, increased bioreactor size, and expanded autonomous manufacturing functions.

Capital Expenditures

  • Funds from a CAD 4 million private placement in August 2021 were allocated for system upgrades to convert the existing 2 tons/year VINIA® facility into a cannabis production facility, expected to be operational in the first half of 2022.
  • A new facility capable of producing 100 tons per year is planned to be operational by late 2026, quadrupling the company's current output and including strategic investments in an 80,000 square foot corporate campus in Yavneh, Israel.
  • As of January 2026, the company is fully funded for near-term capital expenditures, enabling investments in scale, efficiency, and margin expansion, including the planned development of a 100-ton manufacturing footprint at its corporate campus to support both direct-to-consumer growth and future CDMO production.

Better Bets vs. BioHarvest Sciences (BHST)

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Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
BRBR_2272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG02272026BRBRBellRing BrandsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
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STZ_2132026_Dip_Buyer_FCFYield02132026STZConstellation BrandsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
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5.7%5.7%0.0%
KMB_2132026_Insider_Buying_GTE_1Mil_EBITp+DE_V202132026KMBKimberly-ClarkInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
1.9%1.9%-1.7%
AVO_2062026_Insider_Buying_GTE_1Mil_EBITp+DE_V202062026AVOMission ProduceInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap
1.1%1.1%-2.7%
CALM_1022026_Dip_Buyer_FCFYield01022026CALMCal-Maine FoodsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
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12.0%12.0%-7.7%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BHSTDNACDXSTWSTNATRUSNAMedian
NameBioHarve.Ginkgo B.Codexis Twist Bi.Natures .Usana He. 
Mkt Price4.325.931.5844.5323.7816.9211.43
Mkt Cap0.10.30.12.70.40.30.3
Rev LTM3317070392480925281
Op Inc LTM-6-304-38-1352551-22
FCF LTM-9-179-24-87299-17
FCF 3Y Avg-10-299-45-952539-27
CFO LTM-7-171-19-513522-13
CFO 3Y Avg-8-262-40-753451-24

Growth & Margins

BHSTDNACDXSTWSTNATRUSNAMedian
NameBioHarve.Ginkgo B.Codexis Twist Bi.Natures .Usana He. 
Rev Chg LTM45.9%-25.1%18.6%18.6%5.7%8.3%13.4%
Rev Chg 3Y Avg112.5%-27.4%-15.4%22.0%4.4%-2.2%1.1%
Rev Chg Q38.7%-23.8%81.3%16.9%4.7%5.9%11.4%
QoQ Delta Rev Chg LTM8.4%-5.8%33.0%4.0%1.2%1.4%2.7%
Op Mgn LTM-18.8%-178.6%-54.5%-34.4%5.2%5.5%-26.6%
Op Mgn 3Y Avg-49.2%-233.0%-77.0%-54.0%4.6%7.8%-51.6%
QoQ Delta Op Mgn LTM5.5%5.9%58.2%1.8%0.1%0.9%3.6%
CFO/Rev LTM-22.5%-100.5%-27.5%-13.0%7.4%2.4%-17.8%
CFO/Rev 3Y Avg-43.6%-119.6%-61.9%-24.8%7.4%5.7%-34.2%
FCF/Rev LTM-28.9%-105.0%-33.9%-22.1%6.0%0.9%-25.5%
FCF/Rev 3Y Avg-54.3%-135.7%-68.8%-30.7%5.4%4.3%-42.5%

Valuation

BHSTDNACDXSTWSTNATRUSNAMedian
NameBioHarve.Ginkgo B.Codexis Twist Bi.Natures .Usana He. 
Mkt Cap0.10.30.12.70.40.30.3
P/S2.32.02.06.90.90.32.0
P/EBIT-10.3-1.1-3.7-20.613.97.3-2.4
P/E-6.3-1.1-3.2-35.521.329.1-2.2
P/CFO-10.2-2.0-7.4-53.311.813.8-4.7
Total Yield-15.8%-92.4%-30.8%-2.8%4.7%3.4%-9.3%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-155.3%-40.0%-19.0%-4.3%7.4%5.1%-11.7%
D/E0.21.30.50.00.00.10.1
Net D/E0.10.1-0.0-0.0-0.2-0.4-0.0

Returns

BHSTDNACDXSTWSTNATRUSNAMedian
NameBioHarve.Ginkgo B.Codexis Twist Bi.Natures .Usana He. 
1M Rtn-8.3%-12.1%56.4%-5.1%-14.1%-21.4%-10.2%
3M Rtn-18.9%-29.4%-3.1%34.7%10.0%-14.7%-8.9%
6M Rtn-60.3%-48.4%-35.8%65.5%49.7%-40.7%-38.2%
12M Rtn-34.1%-3.1%-43.8%10.3%88.0%-39.1%-18.6%
3Y Rtn-14.9%-87.9%-59.9%202.3%132.5%-72.9%-37.4%
1M Excs Rtn-1.6%-31.1%55.5%-0.8%-5.7%-12.2%-3.7%
3M Excs Rtn-14.8%-25.3%2.2%40.7%17.0%-7.3%-2.6%
6M Excs Rtn-57.2%-43.7%-30.6%70.0%50.0%-36.6%-33.6%
12M Excs Rtn-47.5%-22.3%-55.5%-5.2%80.6%-49.3%-34.9%
3Y Excs Rtn-76.1%-149.6%-120.3%119.7%60.1%-133.8%-98.2%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Products13    
Contract Development and Manufacturing Operation (CDMO) Services0    
Nutraceuticals 52  
Pharmaceuticals 00  
Superfruits   00
Total135200


Operating Income by Segment
$ Mil20242023202220212020
Contract Development and Manufacturing Operation (CDMO) Services0    
Products-10    
Nutraceuticals -7-4  
Pharmaceuticals -3-4  
Cannabis   -4-3
Superfruits   -30
Total-10-11-8-6-2


Price Behavior

Price Behavior
Market Price$4.32 
Market Cap ($ Bil)0.1 
First Trading Date03/08/2019 
Distance from 52W High-65.8% 
   50 Days200 Days
DMA Price$4.64$7.21
DMA Trenddowndown
Distance from DMA-6.9%-40.1%
 3M1YR
Volatility54.1%75.2%
Downside Capture0.470.78
Upside Capture-28.7547.31
Correlation (SPY)18.5%19.3%
BHST Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta0.370.711.372.100.830.65
Up Beta3.364.263.664.240.840.64
Down Beta1.47-0.130.592.950.850.82
Up Capture-113%-37%-8%19%57%17%
Bmk +ve Days9203170142431
Stock +ve Days8172649120328
Down Capture-42%50%207%177%96%88%
Bmk -ve Days12213054109320
Stock -ve Days13243575129361

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BHST
BHST-38.3%75.2%-0.34-
Sector ETF (XLP)4.6%13.9%0.090.8%
Equity (SPY)14.5%18.9%0.5919.7%
Gold (GLD)50.2%27.7%1.4612.0%
Commodities (DBC)17.8%17.6%0.8512.3%
Real Estate (VNQ)0.4%16.4%-0.155.9%
Bitcoin (BTCUSD)-23.7%44.2%-0.4917.8%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BHST
BHST-16.8%79.4%0.11-
Sector ETF (XLP)6.8%13.2%0.306.2%
Equity (SPY)11.8%17.0%0.5415.1%
Gold (GLD)20.7%17.7%0.965.4%
Commodities (DBC)11.6%18.9%0.504.7%
Real Estate (VNQ)3.0%18.8%0.0710.2%
Bitcoin (BTCUSD)4.0%56.6%0.295.0%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BHST
BHST-12.3%99.3%0.25-
Sector ETF (XLP)7.3%14.7%0.375.2%
Equity (SPY)14.0%17.9%0.6711.1%
Gold (GLD)13.3%15.8%0.703.8%
Commodities (DBC)8.2%17.6%0.393.5%
Real Estate (VNQ)4.7%20.7%0.198.4%
Bitcoin (BTCUSD)66.4%66.8%1.067.8%

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Short Interest

Short Interest: As Of Date3132026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 2282026-10.5%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest2.9 days
Basic Shares Quantity17.4 Mil
Short % of Basic Shares0.4%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

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Report DateFiling DateFiling
09/30/202511/13/20256-K
06/30/202508/11/20256-K
03/31/202505/15/20256-K
12/31/202403/31/202540-F
09/30/202411/25/20246-K
06/30/202408/29/20246-K

Industry Resources

Packaged Foods & Meats Resources
USDA Data