Canada · Delayed Price · Currency is CAD Burcon NutraScience Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue doubled sequentially, meeting 2025 guidance, with strong recurring sales and over 200 customer projects. Double-digit revenue growth and cash flow positivity are reaffirmed for 2026, supported by a robust sales funnel and recent financing to accelerate capacity and growth.
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Q2 2026 saw record revenue growth, recurring sales, and strong customer engagement, with guidance for 2025–2026 affirmed and de-risked. New financing initiatives and insider support position the company to capitalize on robust plant protein market demand.
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Key milestones achieved with first commercial production of pea and fiber proteins, $342,000 in Q1 revenue, and a $6.8M multi-year production agreement. Financial targets for 2025–2026 reaffirmed, with strong customer demand and robust sales funnel supporting growth.
Fiscal Year 2025
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Significant progress includes a $9.4M fundraise, Galesburg facility acquisition, and a $6.8M contract. Revenue is guided at $1.1M for 2025, with $10M+ and positive cash flow expected in 2026. Gross margins are projected above 50% at scale.
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Major milestones include a CAD 9.4M rights offering, new U.S. facility partnership, and two product launches. Cash runway extends to 2026, with recurring revenue and margin expansion expected as production scales. Collaboration with Puratos and robust customer interest support growth.
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A strategic alliance will enable direct production and sales, addressing supply challenges and supporting a capital-light, high-margin model. A rights offering seeks up to CAD 12 million to fund operations, with commercial production targeted for early 2025 and profitability expected in 2026.
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Achieved first commercial revenues from hemp protein and launched canola protein ahead of schedule, with strong customer demand and over 50 prospects in the pipeline. Profitability is targeted for mid to late 2025, supported by a fully funded business plan and capital-light strategy.
Fiscal Year 2024
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Fiscal 2024 saw a strategic transformation, improved financials, and the launch of commercial hemp and canola protein products. Recurring revenue is expected in late 2024, with profitability targeted for early 2026. Strong customer demand and a robust funding position support growth plans.