Bioceres Crop Solutions posted fourth‑quarter revenue of $55.9 million, which was $23.1 million below the $79 million forecast, representing a 29.2% shortfall. The figure was essentially flat year‑over‑year, up just 0.9% from $55.4 million in the prior quarter. Adjusted EBITDA swung to a positive $0.6 million from a negative $9.6 million a year earlier, driven by a lower operating expense base. Gross profit came in at $12.7 million, down 6% year‑over‑year, with a gross margin of 22.8%. SG&A expenses fell 19% compared with the same quarter last year, and the company recorded a roughly $4 million non‑recurring inventory adjustment related to obsolescence.
For the full fiscal year 2026, revenue from continuing operations declined 18% to $238.0 million, with about half of the drop attributable to the ongoing seed business reconfiguration. Gross profit decreased 21% to $82.9 million, yielding a gross margin of 34.8%. Adjusted EBITDA slipped 12% to $25.5 million, down from $28.9 million in fiscal 2025. The company achieved more than $20 million in operating expense reductions during the year. As of June 30, 2026, cash and short‑term investments totaled $12.2 million, while total financial debt stood at $225.9 million and net financial debt at $213.6 million. Secured notes classified as short‑term due to a noteholders’ dispute amounted to $118.6 million. In Argentina, approximately $28 million of bank debt was successfully reprofiled, and local bond maturity extensions covered $46.5 million of outstanding principal.
Segment performance showed mixed results. Crop nutrition revenue rose 36% year‑over‑year, buoyed by microbeaded fertilizer sales. Crop protection posted better margins in its adjuvants portfolio, though overall revenue faced offsets. The seeds and integrated products segment benefited from stronger seed treatment packs, which delivered roughly 40% growth in gross profit, while the broader seed business continued a nearly two‑year reconfiguration and wind‑down. The company noted that 99% of aggregate gross profit in fiscal 2025 came from less than 50% of its SKUs, highlighting a high concentration of profitability.
On the stock market, Bioceres’ shares closed the regular session up 2.39% at $0.43, with after‑hours trading little changed at the same level, down 0.61% relative to the regular close. The 52‑week range sits between $0.30 and $2.19, and the price‑to‑book ratio is 0.11. Looking ahead, management targets a gross margin of about 40% for fiscal 2027 and aims to bring combined SG&A to 23% of revenues by fiscal 2028. Strategic priorities include improving cash generation, maintaining cost and working‑capital discipline, addressing the capital structure and liquidity, simplifying the product portfolio—particularly in Brazil—and monitoring opportunities to monetize non‑core assets. CEO Federico Trucco noted that fiscal 2026 was a challenging year marked by ongoing creditor litigation and its business consequences, while CFO Ezequiel Simmermacher highlighted the roughly $10 million year‑over‑year improvement in adjusted EBITDA as the main driver of the quarter’s results.
