BioStem Technologies Reports Preliminary First Quarter 2025 Operating and Financial Results
May 12, 2025
- Preliminary net revenue increased 73% to $72.5 million for Q1 2025, compared to $41.9 million in Q1 2024
- Achieved preliminary GAAP net income of $4.5 million, or $0.27 per share
- Reported preliminary Q1 2025 Adjusted EBITDA of $7.8 million
- Quarter-end cash balance of $26.7 million, up from $22.8 million as of December 31, 2024
- Financial results conference call and webcast to be held on May 12, 2025 at 4:30 pm ET
POMPANO BEACH, Fla., May 12, 2025 (GLOBE NEWSWIRE) — BioStem Technologies, Inc. (OTC: BSEM) (the “Company” or “BioStem”), a leading MedTech company focused on the development, manufacture, and commercialization of placental-derived biologics, today reported preliminary financial results for the first quarter ended March 31, 2025. The Company will host a webcast and conference call today at 4:30 pm ET. These results are unaudited, have been prepared in accordance with current accounting policies, and remain subject to SEC review related to the Company’s pending Form 10 filing in connection with its planned uplisting to Nasdaq.
Jason Matuszewski, CEO of BioStem, commented: “I am pleased to report the strongest first quarter in BioStem’s history, with Q1 2025 revenue increasing 73% compared to the first quarter of 2024. With the launch of Vendaje AC® in Q4 2024, we have seen rapid adoption of that product through our commercial partnership with Venture Medical. Furthermore, we are encouraged by the LCD implementation date being extended from April 2025 to January 2026, as the uncertainty throughout this quarter had created temporary headwinds that impacted our operations and sequential growth trajectory.”
Mr. Matuszewski added: “As we progress through Q2 and the rest of the year, we remain focused on continued growth and further strengthening our position in the chronic wound care market. Strategically, we are prioritizing the transition of more customers to Vendaje AC to drive brand consistency within the Vendaje family, while also reducing SG&A by phasing out licensing fees associated with AmnioWrap2. On the capital markets front, we remain in active review with the SEC regarding our Form 10 registration and uplisting process, and we look forward to completing this milestone and becoming listed on Nasdaq. We want to thank our shareholders for their continued support.” – CLICK HERE FOR FULL RELEASE.