Quarterly ResultAug 11, 2026, 06:03 AM
BioHarvest Sciences Q2 Revenue $8.84M; Net Loss $3.72M; Going Concern Doubt
AI Summary
BioHarvest Sciences Inc. reported its unaudited interim condensed consolidated financial statements for the three and six months ended June 30, 2026. The company disclosed factors raising substantial doubt about its ability to continue as a going concern, citing a history of operating losses and increased cash burn. For the six months ended June 30, 2026, revenues increased to $17.34 million, but the net loss remained significant at $6.36 million, and cash and cash equivalents decreased to $15.21 million. The company also noted its operations in Israel and the ongoing monitoring of the regional security situation.
Key Highlights
- Company raises substantial doubt about its ability to continue as a going concern.
- Revenues for six months ended June 30, 2026, increased to $17.34 million from $16.38 million.
- Net loss for six months ended June 30, 2026, was $6.36 million, slightly down from $6.42 million.
- Basic and diluted loss per share improved to $0.28 from $0.37 for the six-month period.
- Cash and cash equivalents decreased to $15.21 million as of June 30, 2026, from $23.03 million.
- Net cash used in operating activities increased to $4.17 million from $2.88 million.
- Total shareholders' equity decreased to $19.76 million from $25.45 million since Dec 31, 2025.
- Company's principal operations are in Israel, monitoring regional security situation.
- Operating loss for six months ended June 30, 2026, increased to $4.34 million from $3.53 million.
Price Impact
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