BioStem Technologies Reports Fourth Quarter and Full Year 2025 Financial Results

POMPANO BEACH, FL, March 24, 2026 (GLOBE NEWSWIRE) — BioStem Technologies, Inc. (OTC: BSEM), a leading regenerative medicine company focused on the development, manufacturing, and commercialization of perinatal tissue allograft products, today reported financial results for the fourth quarter and full year ended December 31, 2025.

Recent Financial and Business Highlights:

Generated net revenue of $10.1 million for the fourth quarter 2025 and gross margin of 97%
Completed the acquisition of the BioTissue Holdings Inc. surgical and wound assets in January 2026, significantly expanding the Company’s product portfolio, commercial footprint, and diversifying end markets into the hospital setting
Integrated BioTissue’s experienced national sales force of approximately 20 direct sales representatives and managers, and more than 30 independent sales agents into BioStem
Promoted Barry Hasset to Chief Commercial Officer
Strengthened the Board of Directors with the appointment of Jodi Ungrodt, who will serve as Audit Committee Chairperson

“BioStem delivered a solid finish to 2025, with fourth quarter revenue reflecting continued penetration of the physician office market, ” said Jason Matuszewski, CEO and Chairman of the Board of BioStem. “As we enter 2026, BioStem is a fundamentally stronger and more diversified regenerative medicine company following the addition of the BioTissue surgical and wound assets, which have expanded our product portfolio and commercial reach across both hospital and physician office settings. With focused commercial channels serving these sites of care and increased exposure to commercially insured patient populations, we believe we are well positioned to navigate the evolving reimbursement landscape as we execute on our strategy to drive long-term growth and create value for our shareholders.”

Nasdaq Uplisting Update

KPMG LLP was appointed as the Company’s independent registered public accounting firm in October 2025, and the Company expects to have audited financial statements for 2024 and 2025 in the near future, a key prerequisite as it pursues a Nasdaq uplisting.

Fourth Quarter 2025 Financial Results

Net revenue was $10.1 million, a 55% decrease compared to Q4 2024. Revenue in the quarter reflected the significant impact of reimbursement uncertainty and competitive pressure in the physician office and mobile settings.

Gross profit was $9.8 million, or 97% of net revenue, compared to $19.1 million or 84% of net revenue, in Q4 2024. The increase in gross margin reflects a product mix shift towards our products that do not carry a licensing fee.

Operating expenses totaled $17.3 million, up from $10.7 million in Q4 2024, primarily driven by an expense charge for potentially uncollectible accounts receivable due from Venture Medical.

GAAP net loss was ($11.3 million) or ($0.67) per share, compared to net income of $14.7 million or $0.89 per share in Q4 2024.

Adjusted EBITDA for the fourth quarter was $3.4 million, compared to $11.0 million in Q4 2024. The decline reflects lower revenue, lower gross profit, and higher operating expenses.

As of December 31, 2025, cash equivalents totaled $29.5 million. Post closing of the BioTissue asset acquisition on January 21, 2026, BioStem’s cash equivalents balance totaled approximately $16 million.

Full Year 2025 Financial Results

Net revenue for the full year 2025 was $47.5 million, compared to $69.7 million for the full year 2024. The decline was primarily driven by lower wound care volume resulting from reimbursement uncertainty and increased competition in the physician office and mobile settings.

Gross profit for the full year 2025 was $44.4 million, or 94% of net revenue, compared to $55.9 million or 80% of net revenue, for the full year 2024.

Total operating expenses for the full year 2025 were $45.1 million, compared to $24.8 million for the full year 2024, reflecting the charge for potentially uncollectible accounts receivable due from Venture Medical, increased clinical trial activity, infrastructure investment, and costs associated with the BioTissue acquisition.

GAAP net (loss) income for the full year 2025 was ($6.6 million), compared to $31.0 million for the full year 2024.

2026 Financial Outlook

Given the recent changes in the marketplace and timing in the quarter, BioStem is providing additional color on its outlook for the first quarter. The Company expects the hospital business to perform in line with the historical levels of the acquired assets, adjusted for a January 21 acquisition date, and expects the physician office business to be down significantly from the prior quarter. As a result, the Company anticipates first quarter revenue to be in the range of $5 million to $6 million. In the second half of the year, after completing integration activities, expanding its salesforce and executing its strategic plan, the Company expects to drive sequential and year-over-year growth in the hospital business. As the physician office market begins to stabilize in the second half of 2026, the Company sees an opportunity for sequential revenue growth improvement in that business.

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About BioStem Technologies, Inc. (OTC: BSEM): BioStem Technologies is a publicly traded, biomedical innovator, focused on developing, manufacturing and commercializing advanced allograft solutions derived from perinatal tissue. The company leverages its industry-leading proprietary BioRetain®, CryoTek® and SteriTek® processing technologies, designed to optimize the preservation of the natural properties of these tissues, supporting their use in clinical settings. Its allografts are used by clinicians across a wide range of specialties. With a growing portfolio of products, expanding clinical research initiatives, and a national commercial footprint, BioStem is committed to advancing innovation in regenerative medicine.

BioStem Technologies’ quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks (“AATB”). These systems and procedures are established in compliance with current Good Tissue Practices (“cGTP”) and current Good Manufacturing Processes (“cGMP”). BioStem’s portfolio of quality brands includes its Neox®, Clarix®, VENDAJE® and American Amnion™ product lines.

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Contact BioStem:
Website: www.biostemtechnologies.com

E-Mail: pr@biostemtech.com

X: @BSEM_Tech

Facebook: BioStemTechnologies

Phone: 954-380-8342

Investor Relations:

Philip Trip Taylor, Gilmartin

Group E-Mail: ir@biostemtech.com

Public Relations:

Jennifer Horton, Relevance

jennifer@relevance.com

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