BioHarvest Sciences, Inc. Q2 FY2025 earnings call

• Scaled products and CDMO divisions in Q2. - Gross margins expanded due to scale, technology leverage, and supply chain efficiencies. - VINIA had ~65,000 active U.S. customers, maintained premium pricing, and approaching 10,000 customer reviews on vinia.com. - Launched new products like VINIA Daily 2X Formula chews and SuperFood Tea SKUs. - Announced VINIA Health Pros' Professional Affiliate program to drive subscriber growth. - In final phases of commercializing VINIA Blood Flow Hydration Solution to disrupt $13B electrolyte drinks market. - Introduced AI-enabled discovery phase in CDMO services for cosmetic, pharmaceutical, nutraceutical, and nutrition companies.

Revenue for the second quarter of 2025 increased 41% year-over-year to $8.5 million, in line with guidance. Direct-to-consumer health and wellness products: Total active VINIA customers in the U.S. reached approximately 65,000 as of end of July 2025, with subscription customers majority. Amazon accounts for ~20% of total sales. VINIA is #1 resveratrol-only product on Amazon. Gross margins expanded by 800 basis points to 60% in Q2. CDMO division: Announced a CDMO research contract successfully completed Stage 1, signed first contract targeting a fragrance molecule, and has ongoing projects for pharmaceutical, nutrition, and fragrance industry partners.

• Expect to achieve adjusted EBITDA breakeven in Q4 of 2025. - Believes this is achievable based on VINIA run rate growth, expanding Amazon contribution, and maturing of first CDMO programs.

• Tariffs impact: Factored into value chain and managed through efficiencies in other areas.

Q: How has the 2X Formula chew launch progressed and what's the ramp outlook?

A: Feedback has been phenomenal, reviews are encouraging, and it will continue to build momentum.

Q: Any impact from tariffs and how to respond?

A: Tariffs factored in, managed through efficiencies in other areas.

Q: Overview of sales channels by end of year?

A: Core is vinia.com (80% of business), Amazon (20%), growing direct-to-doctor, international purchases, and Health Pros' channel.

Q: More room for margin improvement?

A: Plenty of opportunities left through cost efficiencies and mix management.

Q: Innovations in botanical process and facility expansion?

A: Ongoing process optimization, digitization, work on harvesting and drying technologies, and planning for larger bioreactors in next facility.

Q: When will CDMO start contributing meaningfully?

A: Meaningful contributions expected early next year as projects move through phases and pipeline grows