S&W Seed sees Q1 revenue $8.3M vs. $10.8M last year

Sees Q1 adjusted EBITDA ($3.1M) vs. ($1.7M) last year. “As a result of the VA process, which is expected to be completed this month, on a go forward basis S&W will be exclusively focused on its core U.S.-based operations led by our high margin Double Team sorghum solutions,” commented CEO Mark Herrmann. “The enthusiasm of growers towards Double Team is high. We believe we have a robust commercial plan in place to drive continued adoption of Double Team, while at the same time expanding our focus on new high value solutions through the planned launch of our Prussic Acid Free trait this fiscal year. This is then expected to lead to the introduction of our first “stacked trait” by combining Double Team and Prussic Acid Free into a single seed option which adds incremental value for farmers…Our guidance indicates continued strong improvement in gross margins, coupled with a reduction in operating expenses, which is paving the way for us to approach positive adjusted EBITDA performance. In fact, we are expecting the high end of our range to be at adjusted EBITDA breakeven for the rest of FY25. This would be a significant potential milestone if we can achieve our expectations”.