Bioceres reports Q1 adjusted EBITDA $8.5M vs. $16.3M last year

Reports Q1 revenue $93.3M, consensus $109.3M. Mr. Federico Trucco, CEO, commented: “As farmers understand better than anyone else, agriculture is inherently dependent on weather. While, as a technology company we are dedicated to helping farmers navigate this reality, our business cycle also faces weather-related impacts. To mitigate these effects, we rely on portfolio diversification across product types, usage timing, and multiple crops. However, much like in farming itself, geographic diversification remains the most effective hedge against weather events. This quarter, we saw the benefits of this strategy, with positive contributions from Brazil, the United Sates, and our Syngenta collaboration outside of Argentina. Together, these almost doubled their share of total sales and, even more importantly, expanded their contribution to total gross profit by 2.5 times. This positive international performance, coupled with fully normalized rainfall in Argentina, allows us to remain optimistic for the rest of the fiscal year. That said, we remain focused on cost management and a disciplined approach to capital allocation, aiming to both adapt to and increase our flexibility amid current market conditions. At the same time, our commitment to advancing our unique portfolio of technologies is unaltered, encouraged by the recognition and validation our technologies continue to receive from regulators worldwide, as highlighted in this quarter’s report.”