Key Highlights

  • BioStem Technologies (NASDAQ:BSEM) was trading down 13.26% at USD 1.13 in pre-market on Friday, November 13, 2026, implying a prior close of about USD 1.30 (calculated), after results released on November 12.
  • Third-quarter Revenue was USD 7.6 million, down from USD 7.9 million in the second quarter and USD 10.5 million a year earlier, a decline of about 27.6% (calculated).
  • The net loss was USD 11.4 million, or USD 0.64 a share, against USD 9.0 million in the second quarter, and adjusted EBITDA was a loss of USD 6.4 million, versus a USD 2.7 million profit a year ago.
  • Cash fell to USD 1.0 million at September 30, 2026 from USD 7.0 million at June 30, 2026, after USD 8.8 million of operating cash use in the quarter.

A Wider Loss and Lower Revenue Meet the Pre-Market Tape

BioStem Technologies (NASDAQ:BSEM) released third-quarter 2026 results on November 12, 2026, and shares were lower in pre-market on Friday. Revenue of USD 7.6 million compared with USD 7.9 million in the prior quarter and USD 10.5 million in the third quarter of 2025. Hospital revenue rose to USD 6.8 million, which suggests the decline came from other channels. The net loss widened to USD 11.4 million from USD 9.0 million in the second quarter. Implied from the per-share loss, the share count is roughly 17.8 million (calculated), so the loss is large against the USD 1.13 pre-market price.

Adjusted EBITDA Swings From Profit to a USD 6.4 Million Loss

Adjusted EBITDA was a loss of USD 6.4 million, a Reversal from a profit of USD 2.7 million in the third quarter of 2025. Cash used in Operating Activities was USD 8.8 million, and cash and equivalents ended September at USD 1.0 million, down USD 6.0 million from the end of June. That leaves limited room unless the company raises capital, collects receivables or cuts costs, and the filing language should be read for any financing plan. Equity Financing could dilute current holders, and the exposure is greater for a stock with a small share count and a low price. A webcast on the quarter was scheduled for November 12.

Narrowed Guidance Sits Awkwardly With the Cash Position

Management narrowed full-year 2026 revenue guidance to USD 28 million to USD 29 million from USD 26 million to USD 29 million, raising the low end. That implies a fourth-quarter figure that depends on the nine-month total, which was not retrieved, so no fourth-quarter estimate is given here. The tension is that higher revenue targets sit beside a thin cash balance and a widening loss. The company is listed on Nasdaq as BSEM according to its release, and the exchange was not independently checked beyond that. Pre-market Volume is limited, and the screener's prior close may differ from the official close, so the move is the figure of record for pre-market only.

Where Things Stand

The results explain the drop: lower revenue, a wider loss, an adjusted EBITDA loss and only USD 1.0 million of cash. BioStem Technologies (NASDAQ:BSEM) did narrow its full-year revenue guidance and raised the low end, which cushions the message, but Liquidity is the main concern. The next markers are any financing announcement, the fourth-quarter result against the USD 28 million to USD 29 million range and the quarterly cash balance.