Burcon NutraScience (BU) Q1 2027 earnings summary

Executive summary

• Revenue reached CAD 1.3 million for the quarter ended June 30, 2026, up 273% year-over-year and 54% sequentially, reflecting accelerating demand for high-purity plant-based protein solutions driven by consumer trends and GLP-1 medication adoption.

• Executing a strategic plan focused on scaling production, expanding the customer base, and investing for future growth, supported by new financing transactions.

• Technology platform enables unmatched protein purity and superior functionality, validated by repeat customer purchases and market trends.

Financial highlights

• Q1 revenue reached CAD 1.3 million, up 54% quarter-over-quarter and 273% year-over-year.

• Net loss for the quarter was $3.8 million ($0.30 per share), compared to $3.5 million ($0.27 per share) in the prior year quarter.

• Operating loss decreased by 7% quarter-over-quarter due to revenue growth and cost focus.

• Net cash used in operating activities was $2.4 million, down from $2.7 million in the prior year quarter.

• Cash balance as of June 30, 2026, was $0.9 million, with negative working capital of $11.2 million.

Outlook and guidance

• Enhanced liquidity from recent financing is expected to support investments in capacity and production efficiency.

• Expecting double-digit million CAD revenue by end of calendar year and to reach cash flow positive shortly thereafter, with revenue growth anticipated to be backend loaded and significant run rate entering calendar 2027.

• Capacity expansion required in late Q4 and Q1 2027 to meet growing demand.

• The company anticipates continued commercial scale-up and progress toward positive cash flow, leveraging proprietary processes and expanding at the Galesburg facility.