- BioHarvest Sciences (BHSC) reported Q3 2022 sales orders of its VINIA product had reached record highs of US$1.71 million, a 145 per cent year over year jump and 81 per cent increase compared to Q2 2022
- Q3 sales orders in the US reached a record US1.08 million, representing 350 per cent growth over Q3 2021 and 200 per cent growth over Q2 2022
- In this quarter, BioHarvest made significant progress in the cannabis vertical, building breakthrough capabilities eliciting cannabinoids in its bioreactors
- BioHarvest Sciences Inc. (BHSC) is up 10.34 per cent, trading at C$0.32 per share at 10:45 am ET
BioHarvest Sciences (BHSC) reported Q3 2022 sales orders of its VINIA product had reached record highs of US$1.71 million.
This is a 145 per cent year over-year jump and 81 per cent increase compared to Q2 2022.
Q3 sales orders in the US reached a record US1.08 million, representing 350 per cent growth over Q3 2021 and 200 per cent growth over Q2 2022. This included a five-times quarter-on-quarter increase in the number of new customers. In Q3 2022, 85 per cent of total online VINIA customers were subscription based, and 90 per cent of active subscribers signed on for three months or more.
In this quarter, BioHarvest made significant progress in the cannabis vertical, building breakthrough capabilities eliciting cannabinoids in its bioreactors.
BioHarvest’s CEO, Ilan Sobel, said these Q3 results validate the strength of the company’s business model and the critical capabilities built in both the nutraceutical and cannabis verticals.
“These Q3 Sales results and our ongoing breakthroughs in the Cannabis development represent significant achievements in our Biotech journey. The record results of Q3 show that we are on the right path for healthy growth and to achieve our financial goals, which include becoming cash flow positive by the end of 2023.”
On Tuesday, October 25th, BioHarvest plans to announce the details of its unique composition (analysis performed by an independent third-party certified laboratory) and will discuss them during its shareholder update on that same day.
BioHarvest Sciences is a Biotech firm which is the developer and owner of proprietary and patent-protected bio-farming technology. The technology can grow the active and beneficial ingredients in fruit and plants, at an industrial scale, without the need to grow the plant itself.
BioHarvest Sciences Inc. (BHSC) is up 10.34 per cent, trading at C$0.32 per share at 10:45 am ET.
