BioHarvest Sciences Inc.

Hello, everyone. Thank you for joining us and welcome to the BioHarvest Sciences fourth quarter and year-end 2025 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 on your telephone keypad. To withdraw your question, press star 1 again. I will now hand the call over to Justin Meeklem, Head of Investor Relations. Please go ahead.

Greetings. With us on the call are Dr. Zaki Rakeed, Chairman, Ilan Sobel, Chief Executive Officer, and Bart Dichter, Chief Financial Officer. Before we begin, I'd like to remind you that management will be making projections and forward-looking statements on the call today regarding future events. Any statements that are not historical facts are forward-looking statements. These statements are made pursuant to and within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. We encourage you to review BioHarvest Sciences' SEC filings, including the company's most recent Form 40F, which identify risks and uncertainties that may cause future actual results or events to differ materially. These filings can be found on the company website, as well as the SEC's website at www.sec.gov. Please note that the forward-looking statements made during today's call speak only to the date they are made, and BioHarvest Sciences undertakes no obligation to update And with that, I would like to now turn the call over to Ilan Sobel, Chief Executive Officer. Ilan? Thank you.

I want to thank you all for joining us on today's call. For those of you who are new to our story, BioHarvest North Star is to discover, develop, manufacture, and democratize life-changing compounds from plants that will positively impact the health and wellness of hundreds of millions of consumers and preserve the planet for generations to come. We are a leader in botanical synthesis, a process that utilizes our patented non-GMO platform to produce plant-derived compounds with greater potency than the plant without having to grow the plant itself. Importantly, we require the plant just once to be able to identify the cells in the plant that produce these critical phytonutrients. Utilizing these cells, we conduct hundreds of experiments with our technology, optimizing the environmental conditions and food that we feed the cells to be able to get the cells to mirror and magnify the levels of the phytonutrients they produce versus the plant. We then scale the production and elicitation of these cells in industrial-scale bioreactors to produce highly soluble, bioavailable, and efficacious final material a short period of time our technology allows us to improve nature with the power of our science and create innovative unique and active molecules and compounds that we can produce with unique consistency economic viability and commercial protection we can use these compounds in our own proprietary products or to partner with key customers which serve high-value markets in the pharmaceutical, nutraceutical, cosmetic and fragrance and nutrition sectors. Bar Harvest today operates through two distinct but highly complementary business units, our direct-to-consumer products division, led by our flagship vineyard nutraceutical platform, and our CDMO services division, where we partner with third parties to develop novel plant-based compounds using our proprietary botanical synthesis technology. These two businesses represent the company's dual growth engines and provide bar harvest with multiple pathways to revenue growth and long-term shareholder value creation. Given their different operating models, capital requirements, and stages of financial maturity, we are managing the business through a two-lens framework design to optimize performance, capital allocation, and strategic execution across both divisions. This structure reflects the way we have operated the company since late fourth quarter 2025. And beginning in 2026, our manufacturing center of excellence will be incorporated into the CDMO organization. This will further align our manufacturing capabilities under a single platform serving both our direct-to-consumer products, business, and our external CDMO partners. Importantly, while both divisions are positioned as growth engines, they are at different points in their development. We expect the D2C business to achieve profitability in 2026 while continuing to invest behind growth and customer acquisition. In parallel, We believe the CDMO business has the potential to accelerate meaningfully in 2026 and beyond, supported by continued investment in technology, capabilities, and commercial infrastructure to unlock its full value potential. Now turning to the fourth quarter, we are pleased to report that our fourth quarter revenues were $9.1 million, falling within our guidance range, up 25% year over year. This impressive result was due to a record number of sales orders that came in from our core consumer products business that generated over 3 million in sales just for the month of December 2025, a record month. Revenues were $34.5 million for the year, up 37% from the previous year. Our gross margins were 58% for the fourth quarter, up 100 basis points compared to the same period last year. and 59% for the year, up 400 basis points compared to last year. While the ongoing conflict in the Middle East has understandably raised concern, Bar Harvest research and manufacturing operations are operating continuously without any interruptions. Recent airspace closures have affected commercial traffic, but cargo flights have gradually resumed and we are meeting supply chain obligations and remain fully committed to meeting our product supply obligations to our partners. However, as the situation is constantly fluctuating, we of course continue to monitor developments closely. Before I go deeper into defining our achievements and focus areas for 2026, I'm going to hand over to Bar to share more details on the financial performance. Over to you, Bar.