Burcon NutraScience (TSE:BU) Posts Earnings Results

Burcon NutraScience (TSE:BU) (NYSE:BUR) announced its quarterly earnings results on Wednesday. The company reported C($0.30) earnings per share for the quarter, FiscalAI reports. Burcon NutraScience had a negative net margin of 628.94% and a positive return on equity of 1,249.92%. The firm had revenue of C$1.28 million for the quarter.

Here are the key takeaways from Burcon NutraScience’s conference call:

• Revenue rose to CAD 1.3 million in Q1, up 54% sequentially and more than threefold year over year, while the operating loss declined 7% quarter over quarter.
• Burcon reported more than 40 active buying customers, recurring orders across its protein portfolio, and continued records in daily and weekly production, supporting management’s claim that its technology is scaling commercially.
• Management expects revenue to reach a double-digit monthly run rate by year-end and cash flow to turn positive early in the calendar year, driven by new customer conversions and increasing order frequency and volume.
• The company plans to raise up to CAD 8.1 million through convertible debentures, with proceeds earmarked for labor, inventory, production capacity, efficiency improvements, working capital, and debt repayment; the financing could also create future shareholder dilution.
• Burcon sees significant growth potential from mainstream demand for higher-protein, lower-calorie foods and GLP-1-related dietary needs, and intends to expand Galesburg capacity to capture anticipated demand while retaining longer-term licensing opportunities.

Burcon NutraScience Stock Up 3.3%

Burcon NutraScience stock opened at C$1.86 on Thursday. The firm has a market cap of C$23.61 million, a price-to-earnings ratio of -1.65 and a beta of 2.84. The stock has a fifty day simple moving average of C$1.96 and a two-hundred day simple moving average of C$2.03. Burcon NutraScience has a 12 month low of C$1.51 and a 12 month high of C$2.99. The company has a current ratio of 0.19, a quick ratio of 1.71 and a debt-to-equity ratio of -421.12.

Burcon NutraScience Company Profile

Burcon is a global technology leader in plant-based proteins for food and beverage applications. The Company has developed a portfolio of high-performance protein ingredients, including Peazzaz® pea proteins, FavaPro TM fava proteins and Puratein® canola proteins, and is focused on commercializing its technologies through manufacturing partnerships and growing customer adoption worldwide.