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.
To fuel its 2026 expansion, which includes a projected 144% revenue jump compared to 2025, Bolt is finalizing a $30 million financing transaction in convertible notes and warrants with Murchinson Ltd.
The deal remains subject to definitive documentation and shareholder approval, but is expected to provide the necessary runway to scale production and support a new tiered pricing model.
The upgraded 2026 guidance also includes a massive 300% increase in projected gross profit, now targeted at $4 million.
The company is positioning itself as a primary beneficiary of shifting global regulations that are increasingly restricting the use of "forever chemicals" and traditional silicones in consumer products.
Investors will be watching for the official year-end audit and further details on the Murchinson financing in the coming weeks as Bolt attempts to maintain its current growth trajectory in a competitive specialty chemicals market