Bolt Projects Holdings (NASDAQ:BSLK) shares are in focus after the company raised its fiscal year 2026 revenue guidance to $11 million, up from a previous estimate of $9 million.
The upgrade follows preliminary fourth-quarter results that showed the Berkeley-based biomaterials firm is successfully transitioning from a research-focused entity into a high-growth commercial supplier for the global beauty industry.
The company expects to report 2025 revenue of approximately $4.5 million, representing a more than 200% increase over the prior year.
Growth was particularly concentrated in the fourth quarter, where revenue exceeded $2.7 million—nearly doubling the result from the same period in 2024.
Bolt attributed the momentum to the rapid market adoption of its "Vegan Silk" platform, a suite of bio-engineered polypeptides designed to replace petroleum-based silicone elastomers in skincare and hair care formulations.
A key highlight of the report was the company's improving unit economics.
Bolt’s gross profit margin for the fourth quarter hit an estimated 38%, more than doubling the 16% margin reported in the third quarter.
Management cited prior efficiency gains and a "double-digit percentage reduction" in the cost of goods sold as primary drivers for the improvement.