Recent Financial and Business Highlights
- Generated net revenue of
$6.1 million for the first quarter 2026 - Progressed integration initiatives following the
BioTissue assets acquisition including reassignment of all GPO contracts - Expanded direct sales force to 35 representatives, up from 18 at the close of the
BioTissue assets acquisition - Strengthened leadership team with appointment of
Katherine Gorrell as Chief Legal and Compliance Officer - Retired outstanding debt with GMA to resolve two existing promissory notes, with an aggregate principal amount of
$3 million and accrued interest of$2.3M - Advanced capital markets strategy with the completion of audited financial statements for 2024 and 2025; progressing toward planned Nasdaq uplisting
"The first quarter of 2026 marked the beginning of a strategic transformation for BioStem, as we completed our acquisition of the surgical and wound care assets from
Nasdaq Uplisting Update
The Company issued its audited financial statements for both 2024 and 2025 during the first quarter of 2026. The Company plans to continue moving forward with the next steps required for Nasdaq uplisting and expects to provide updates as additional milestones are reached.
First Quarter 2026 Financial Results
Net revenue was
Gross profit was
Operating expenses totaled
GAAP net loss was (
Adjusted EBITDA was (
As of
2026 Financial Outlook
BioStem expects its revenue for full year 2026 to be in the range of
In the second half of the year, with continuing integration of the acquired
Conference Call & Webcast Information:
- Conference ID: 9695874
- North America Toll-Free: (800) 715-9871
- International Toll: +1 (646) 307-1963
- Webcast Link: https://events.q4inc.com/attendee/844730655
About
BioStem Technologies’ quality management system and standard operating procedures have been reviewed and accredited by the
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Forward-Looking Statements:
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to expectations or forecasts of future events including with respect to the operations of the Company, strategies, prospects, and other aspects of the business of the Company. Forward-looking statements may be identified using words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate”, “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical fact. Forward-looking statements in this release include, among other things, statements regarding: the Company’s expectations regarding its financial and operational strength and diversity; the Company’s expectations regarding the benefits and integration of the acquired
Forward-looking statements with respect to the operations of the Company, strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: the impact of any changes to the reimbursement levels for the Company’s products; significant and continuing competition, which could adversely affect the Company’s business, results of operations and financial condition; rapid technological change, which could cause the Company’s products to become outdated or obsolete, harming the Company’s ability to effectively compete; the Company’s ability to convince physicians that its products are safe and effective alternatives to existing treatments and that its products should be used in their procedures; the risk that the Company may be unable to successfully market its products to the end users of such products; the impact of any changes to the accounting treatment of the Company’s revenue and expenses; the Company’s ability to obtain financing on terms acceptable to it, or at all; the Company has incurred significant losses since inception and may incur losses in the future; the impact of any changes in applicable laws or regulations; the Company's accounts receivable collection risk and concentration; the Company’s ability to maintain production of its products in sufficient quantities to meet demand; and the possibility that the Company may be adversely affected by other general economic, business, and/or competitive factors. There may be additional risks about which the Company is presently unaware of or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company undertakes no duty to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contact BioStem:
Website: www.biostemtechnologies.com
E-Mail: info@biostemtech.com
X: @BSEM_Tech
Facebook: BioStemTechnologies
Phone: 954-380-8342
Investor Relations:
E-Mail: ir@biostemtech.com
Public Relations:
jennifer@relevance.com
| Condensed Consolidated Balance Sheets | ||||||||
| As of | As of | |||||||
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 13,703,351 | $ | 29,549,018 | ||||
| Accounts receivable, net | 6,200,840 | 9,874,468 | ||||||
| Inventory | 4,501,445 | 2,877,160 | ||||||
| Prepaid expenses and other assets | 2,056,562 | 2,102,803 | ||||||
| Total current assets | 26,462,198 | 44,403,449 | ||||||
| Long-Term Assets | ||||||||
| Property and equipment, net | 3,941,899 | 3,970,513 | ||||||
| Construction-in-process | 962,826 | 961,032 | ||||||
| Right-of-use asset, net | 275,399 | 327,267 | ||||||
| Intangible assets, net | 21,907,942 | 119,765 | ||||||
| 1,532,635 | 244,635 | |||||||
| Total assets | $ | 55,082,899 | $ | 50,026,661 | ||||
| LIABILITIES AND STOCKHOLDERS EQUITY | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued expenses | $ | 8,487,754 | $ | 4,441,419 | ||||
| License fees payable | 434,775 | 729,975 | ||||||
| Income tax payable | - | 31,512 | ||||||
| Accrued interest | 2,295,000 | 2,227,500 | ||||||
| Operating lease liabilities | 235,066 | 225,768 | ||||||
| Notes payable, net of discount | 3,000,000 | 3,000,000 | ||||||
| Other current liabilities | 8,717,033 | 127,406 | ||||||
| Total current liabilities | 23,169,628 | 10,783,580 | ||||||
| Long-Term Liabilities | ||||||||
| Operating lease liabilities, less current portion | 44,638 | 105,262 | ||||||
| Total long-term liabilities | 44,638 | 105,262 | ||||||
| Total liabilities | 23,214,266 | 10,888,842 | ||||||
| Stockholders' Equity | ||||||||
| Series A-1 convertible preferred stock, | - | - | ||||||
| Series B-1 convertible preferred stock, | - | - | ||||||
| Common stock, | 16,985 | 16,827 | ||||||
| Additional paid-in capital | 61,889,015 | 60,338,654 | ||||||
| (43,346 | ) | (43,346 | ) | |||||
| Accumulated deficit | (29,994,021 | ) | (21,174,316 | ) | ||||
| Total stockholders' equity | 31,868,633 | 39,137,819 | ||||||
| Total liabilities and stockholders' equity | $ | 55,082,899 | $ | 50,026,661 | ||||
| Condensed Consolidated Statements of Operations | ||||||||
| Three Months Ended, | ||||||||
| Revenue, net | $ | 6,135,530 | $ | 15,967,021 | ||||
| Cost of goods sold | 2,376,039 | 853,438 | ||||||
| Gross profit | 3,759,491 | 15,113,583 | ||||||
| Operating Expenses: | ||||||||
| Sales and marketing expenses | 3,745,587 | 1,123,377 | ||||||
| General and administrative expenses | 7,220,789 | 6,996,766 | ||||||
| Research and development expenses | 1,137,229 | 1,690,154 | ||||||
| Depreciation and amortization expense | 540,437 | 53,961 | ||||||
| Total operating expenses | 12,644,043 | 9,864,258 | ||||||
| (Loss) income from operations | (8,884,552 | ) | 5,249,325 | |||||
| Other income: | ||||||||
| Interest income, net | 63,676 | 28,547 | ||||||
| Othe income | 1,171 | 2,661 | ||||||
| Other income, net | 64,847 | 31,208 | ||||||
| Total income (loss) before income taxes | (8,819,705 | ) | 5,280,533 | |||||
| Income tax expense | - | (1,372,411 | ) | |||||
| Net (loss) income | $ | (8,819,705 | ) | $ | 3,908,122 | |||
| Basic net (loss) income per share attributable to common stockholders | $ | (0.52 | ) | $ | 0.23 | |||
| Diluted net (loss) income per share attributable to common stockholders | $ | (0.52 | ) | $ | 0.15 | |||
| Basic weighted average common shares outstanding | 16,851,238 | 16,673,875 | ||||||
| Diluted weighted average common shares outstanding | 16,851,238 | 26,257,562 | ||||||
Non-GAAP Financial Measures:
Our management uses financial measures that are not in accordance with generally accepted accounting principles in
The following is a reconciliation of GAAP net (loss) income to non-GAAP EBITDA and non-GAAP Adjusted EBITDA for each of the periods presented:
| Three Months Ended, | |||||||
| Net (loss) income | $ | (8,819,705 | ) | $ | 3,908,122 | ||
| Interest income | (63,676 | ) | (28,547 | ) | |||
| Depreciation and amortization | 540,437 | 53,961 | |||||
| Income tax expense | - | 1,372,411 | |||||
| EBITDA | (8,342,944 | ) | 5,305,947 | ||||
| Share-based compensation | 1,550,519 | 2,536,933 | |||||
| Transaction related costs | 1,096,141 | - | |||||
| Adjusted EBITDA | $ | (5,696,284 | ) | $ | 7,842,880 | ||
