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Earnings

Burcon Announces Fiscal 2026 Third Quarter Results

By The Northwire Desk — AI Analysis Feb 11, 2026 · 16:08 BU · 1.84 BURCON NUTRASCIENCE CORPORATION J
BU · Price

Executive Summary

  • Burcon NutraScience reported Q3 FY2025 revenue of $739 k, a ~1,100% increase versus the prior‑year quarter.
  • The company closed the first tranche of its $6.9 M private placement, raising $1.25 M in convertible debentures, and secured a related‑party unsecured loan of $480 k.
  • Net loss for the quarter widened to $10.7 M ($0.84 per share) driven by higher cost of sales as production ramps up; cash on hand was $1.3 M with negative working capital of $9.7 M.

Key Details

  • Revenue Growth: Q3 revenue $739,095 vs. $61,492 in the comparable prior‑year period (+1,100%). Nine‑month revenue $1,438,482 vs. $338,567 (+325%).
  • Cost Structure: Cost of sales rose to $2,332,116 (Q3) from $287,375 YoY; R&D expense fell 56% to $379,466; G&A fell 26% to $692,438.
  • Net Loss: Q3 loss $10,653,710 ($0.84/share); nine‑month loss $6,008,202 ($0.83/share).
  • Cash Position: Cash balance $1,287,324 as of Dec 31 2025; working capital deficit $9,698,000 (primarily due to a senior secured loan from a related party).
  • Financing – Private Placement: First tranche closed at $1.25 M of convertible debentures; total target $6.9 M. Final tranche expected ~Feb 24 2026. Proceeds earmarked for commercial expansion and bridge funding.
  • Related‑Party Loan: Unsecured loan of $480,000 from an entity linked to a director; 12% annual interest, $2,700 commitment fee, minimum monthly interest $4,800. Drawn on Feb 10 2026; repayment expected from private placement proceeds.
  • Use of Proceeds: Accelerate commercial production and sales of plant‑protein ingredients, general corporate purposes, and bridge financing until the full private placement is completed.
  • Conference Call: Investor call scheduled for Wed Feb 11 2026 at 5:00 p.m. ET (Dial‑in details provided).

Notable Quotes

“Fiscal Q3 marked an important milestone in Burcon's commercial growth… We ramped production, fulfilled recurring customer orders, and strengthened key customer relationships, building momentum toward broader market adoption.” – Kip Underwood, CEO

All amounts are presented in Canadian dollars ($).

Read the original news release →

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