BioHarvest Sciences 1Q financials show continued growth with a 209% year-over-year increase

BioHarvest Sciences CEO Ilan Sobel joined Steve Darling from Proactive to share news the company has released first-quarter 2023 financial numbers that show big gains over 2022.

The company saw VINIA revenues growing 209% compared to 1Q 2022, reaching $2.2 million.

Sobel also shared with Proactive the company saw gross margins increase to 37%, from 26% a year earlier. The company is sticking with its guidance of year-over-year revenue growing three times to over $17 million. BioHarvest is looking to be cash flow break-even in 4Q 2023.

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