Instinct Bio Technical Company Holdings Inc. (Nasdaq: BIOT), a Tokyo-based developer, manufacturer, and seller of stem-cell-based and regenerative-medicine-related cosmetics and health products, announced unaudited results for the six months ended May 31, 2026, reporting a return to profitability and revenue growth of nearly 10% in yen terms. The company’s interim financial statements were reviewed by Morison LC PLT and furnished to the U.S. Securities and Exchange Commission via Form 6-K on October 16, 2026, available at www.sec.gov.
Revenue reached USD 1,142,598, up 4.7% as reported and up 9.8% in yen terms, from JPY 163.7 million to JPY 179.8 million. Growth was driven by a 6.5% increase in OEM/ODM revenue, which accounted for 83.4% of total revenue, and a 12.2% rise in Value Village e-commerce revenue, both in yen. Profit after tax was USD 90,251, compared to a loss of USD 206,817 in the prior-year period. Administrative expenses fell 30.1% to USD 741,691, largely because approximately USD 208,000 of listing-related fees expensed in the first half of fiscal 2025 did not recur.
Gross margin declined to 72.6% from 79.7%, reflecting a smaller inventory build, new imported purchases, and higher manufacturing overhead. The company’s largest customer’s share of revenue dropped to 34.8% from 51.7%, as new OEM/ODM, export, and Value Athlete customers were added, indicating improved customer diversification.
Net cash used in operating activities was USD 12,323, a significant improvement from USD 371,404 in the prior-year period. Cash and bank balances stood at USD 25,565 as of May 31, 2026, with no bank borrowings. Total assets were USD 4,080,414, total liabilities USD 1,994,227, and total equity USD 2,086,187.
“This is the first set of results we have reported since completing our Nasdaq listing in July,” said Tomoki Nagano, Chairman and Chief Executive Officer. “Until now, investors have had little visibility into who we are as a management team and what our business actually does. We chose to report our first half now, and will continue to report every six months, so that shareholders can judge us on facts: revenue grew almost 10% in yen terms, we returned to profit, and our customer base is broader than a year ago. We are not satisfied with our gross margin or cash position, and improving both is our priority for the second half.”
The company also highlighted several overseas initiatives announced between July and September 2026, which did not contribute to first-half revenue but are targeted to become operational within calendar 2026, with revenue contribution expected from fiscal 2027. These include a U.S. collaboration with INVITRX for GENREVER-branded cosmetics, an Indonesian product partnership with PT Parva Candela Kosmetick, a membership-based GENREVER Clinic in Jakarta, and non-exclusive representation of CelSiege BioSciences’ cancer immunotherapy program in Japan and China.
These results matter because they provide the first financial snapshot of the newly listed company and demonstrate early progress in diversifying revenue and achieving profitability, while also underscoring challenges in gross margin and liquidity. The success of the overseas initiatives will be key to future growth. The full financial statements and management’s discussion and analysis are available in the Form 6-K furnished on October 16, 2026, and the original release can be viewed at www.newmediawire.com.
