Financial Performance - Net sales for 2025 were $515 million, a decrease of 6% compared to $547 million in 2024[3] - The company reported a GAAP net loss of $50 million for 2025, an improvement from a net loss of $126 million in 2024[3] - Adjusted EBITDA for 2025 was $39.2 million, slightly up from $39.1 million in 2024[3] - Gross profit margin improved to 29% in 2025, up from 22% in 2024, reflecting better operational efficiency[21] - The company forecasts adjusted EBITDA in the range of $44 million to $48 million for 2026[1] - Net loss for 2025 was $49,882 million, a significant improvement from a loss of $126,340 million in 2024[23] - Adjusted EBITDA for 2025 was $39,207 million, slightly up from $39,101 million in 2024[25] - The company reported a provision for income taxes of $2,679 million in 2025, down from $5,882 million in 2024[25] Sales Performance - U.S. crop sales decreased by 3% to $221.4 million, while U.S. non-crop sales increased by 10% to $90.3 million[21] - International sales fell by 14% to $203.4 million, contributing to the overall decline in net sales[21] Capital Structure and Liquidity - The company has entered into two new term loan agreements totaling $285 million, enhancing its capital structure and liquidity[3] - Cash flows from operating activities showed a net cash used of $21,191 million in 2025, compared to a net cash provided of $3,923 million in 2024[23] - Capital expenditures in 2025 were $3,919 million, down from $7,279 million in 2024[23] - Net cash provided by financing activities increased to $23,704 million in 2025 from $4,540 million in 2024[23] - The company had a cash balance of $12,425 million at the end of 2025, slightly down from $12,514 million at the end of 2024[23] - Payments under line of credit agreements were $223,465 million in 2025, compared to $294,356 million in 2024[23] Operational Changes - The company plans to rationalize its Los Angeles manufacturing facility, which is expected to lead to long-term operational efficiencies[2] - Personnel changes in the management of the commercial team are expected to enhance customer focus and increase sales volumes[2] Asset Management - The company incurred impairment of assets totaling $25,395 million in 2025, down from $50,414 million in 2024[23] - The company reported a decrease in customer prepayments of $19,582 million in 2025, compared to a decrease of $12,882 million in 2024[23]

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Financial Data and Key Metrics Changes - The company generated sales of $515 million for 2025, a decrease of 6% compared to $547 million in the prior year, slightly below the target range of $520 million-$535 million [16] - Adjusted EBITDA for 2025 was $39.2 million, slightly better than the previous year's $39.1 million [17] - Gross profit margin increased to 29% in 2025, while operating expenses as a percentage of sales decreased to 27% [17] Business Line Data and Key Metrics Changes - U.S. crop business sales were similar to the previous year, with improvements in herbicide sales, particularly with the product Xelo [16][26] - Specialty sales improved by 10%, driven by a joint development agreement and growth in mosquito vector solutions [17] - International operations saw a 14% decline in sales due to elevated channel inventories in Mexico and drought conditions in Australia [16] Market Data and Key Metrics Changes - The agricultural sector has not yet recovered from a downturn that began in 2023, with commodity prices remaining below historically normal levels [12] - Farmers are making more last-minute crop decisions, influenced by geopolitical issues, with a forecasted slight decrease in cotton and corn acreage, while soybean acreage is expected to increase [12][13] Company Strategy and Development Direction - The company is focused on improving its capital structure to pay down expiring credit facilities while maintaining financial flexibility for growth [4][5] - Rationalization of the Los Angeles manufacturing facility is expected to save at least $4 million annually, with production moving to the Axis, Alabama site [6][8] - The company aims to launch five new products in North America in 2026 and register at least 25 new products by 2031, with expectations of generating an additional $100 million in annual revenue from new products [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future performance, projecting adjusted EBITDA of $44 million-$48 million in 2026 on sales of $530 million-$550 million [14] - The company is confident in achieving a long-term EBITDA margin target of 15%, with a compound annual growth rate of 4%-6% expected [42][44] - Management acknowledged challenges in cash flow due to lower prepayments in Q4 but anticipates a favorable cash flow position in 2026 [33] Other Important Information - The company has remediated all material weaknesses identified during the 2024 audit, a significant achievement given the refinancing efforts [15] - Capital spending for 2025 was approximately $4 million, with expectations to increase in 2026 while remaining within the $5 million-$10 million range [19] Q&A Session Summary Question: What dragged on revenue and margin performance in Q4? - Management indicated that both international and domestic sales were affected, with lower metam sales and potato demand in the U.S. and drought conditions in Australia impacting international sales [25][26] Question: How do the L.A. closure and headquarters relocation fit into long-term transformation plans? - The rationalization of the L.A. facility and relocation of headquarters were not initially part of the transformation plan but became necessary as capacity utilization was analyzed [28][29] Question: Are there any cash proceeds associated with the closure of the Los Angeles facility? - There will be no immediate sale of the L.A. facility, which will continue to operate at a lower scale, but the headquarters relocation is expected to save $500,000 annually [30][32] Question: Is it possible to achieve free cash flow positive in 2026? - Management expressed confidence that adjusted EBITDA projections, less interest and capital expenditures, would lead to a favorable cash flow position in 2026 [33] Question: Can you provide more details on the $100 million expected from new products? - New products are primarily coming from insecticides and herbicides, with a mid-term definition extending to around 2030-2031 [37][40]

Financial Data and Key Metrics Changes - The company generated sales of $515 million for 2025, a decrease of 6% compared to $547 million in the prior year, slightly below the target range of $520 million-$535 million [16] - Adjusted EBITDA for 2025 was $39.2 million, slightly better than the previous year's $39.1 million [17] - Gross profit margin increased to 29% in 2025, while operating expenses as a percentage of sales decreased to 27% [17] Business Line Data and Key Metrics Changes - U.S. crop business sales were similar to the previous year, with improvements in herbicide sales, particularly with the Xelo product [16][26] - Specialty sales improved by 10%, driven by a joint development agreement and growth in mosquito vector solutions [17] Market Data and Key Metrics Changes - International sales were down 14% due to elevated channel inventories in Mexico and a persistent drought in Australia [16] - The agricultural economy has not yet recovered from a downturn that began in 2023, with farmers making more last-minute crop decisions [12] Company Strategy and Development Direction - The company is focused on rationalizing its manufacturing footprint, including the closure of the Los Angeles facility, which is expected to save at least $4 million annually [6][8] - A move to a smaller, more cost-effective headquarters in Irvine, California, is expected to save approximately $0.5 million annually [8] - The company aims to launch five new products in North America in 2026 and register at least 25 new products by 2031, with an estimated additional $100 million in annual revenue from new products [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that the worst of the industry destocking appears to be in the past, but distributors have not shown an inclination to restock inventories [12] - The company expects adjusted EBITDA of $44 million-$48 million in 2026 on sales of $530 million-$550 million, indicating optimism for improved performance [14] Other Important Information - The company has remediated all material weaknesses identified during the 2024 audit, a significant achievement [15] - The company plans to further decrease net working capital and improve operational efficiency through experienced supply chain leaders and modern management techniques [18] Q&A Session Summary Question: What dragged on revenue and margin performance? - Management indicated that both international and domestic sales were affected, with lower Metam sales and demand for potato products in the U.S. contributing to the shortfall [25][26] Question: How do the L.A. closure and headquarters relocation fit into long-term plans? - The rationalization of the L.A. facility and the move of headquarters were not part of the initial transformation plan but became necessary as capacity utilization was analyzed [28][29] Question: Are there any cash proceeds associated with the facility closures? - There will be no immediate sale of the L.A. facility, which will continue to operate at a lower scale, and the headquarters move is expected to save on lease costs [30][32] Question: Is it possible to achieve free cash flow positive in 2026? - Management expressed confidence that adjusted EBITDA projections, less interest and capital expenditures, should lead to a favorable cash flow position in 2026 [33] Question: Can you provide details on the $100 million from new products? - New products are primarily coming from insecticides and herbicides, with a mid-term definition extending to around 2030-2031 [37][40]

Financial Data and Key Metrics Changes - The company generated sales of $515 million for 2025, a decrease of 6% compared to $547 million in the prior year, slightly below the target range of $520 million-$535 million [16] - Adjusted EBITDA for 2025 was $39.2 million, slightly better than the previous year's $39.1 million, but below the target of $40-$44 million [8][17] - Gross profit margin increased to 29% in 2025, while operating expenses as a percentage of sales slightly decreased to 27% [17] Business Line Data and Key Metrics Changes - U.S. crop business sales were similar to the previous year, with improvements in herbicide sales, particularly for the Xelo product [16][25] - Specialty sales improved by 10%, driven by a joint development agreement and growth in mosquito vector solutions [17] - International operations saw a 14% decline in sales due to elevated channel inventories in Mexico and drought conditions in Australia [16] Market Data and Key Metrics Changes - The agricultural sector has not yet recovered from a downturn that began in 2023, with commodity prices remaining below historically normal levels [12] - Farmers are making more last-minute crop decisions, influenced by geopolitical issues, with a forecasted slight decrease in cotton and corn acreage, while soybean acreage is expected to increase [12] Company Strategy and Development Direction - The company is focused on improving its capital structure to pay down expiring credit facilities while maintaining financial flexibility for growth [4] - Plans include rationalizing the Los Angeles manufacturing facility, which is expected to save at least $4 million annually, and relocating the global headquarters to a more cost-effective space, saving approximately $500,000 annually [6][7] - The company aims to launch five new products in North America in 2026 and register at least 25 new products by 2031, with expectations of generating an additional $100 million in annual revenue from new products [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future performance, projecting adjusted EBITDA of $44 million-$48 million in 2026 on sales of $530 million-$550 million [14] - The company believes that future earnings power is substantially higher, allowing for debt repayment and investments in long-term growth [14] - Management acknowledged challenges in the agricultural economy but highlighted improvements in cost containment and operational efficiencies [18] Other Important Information - The company has remediated all material weaknesses identified during the 2024 audit, a significant achievement given the refinancing efforts [15] - Capital spending for 2025 was approximately $4 million, with expectations to increase spending in 2026 while remaining within the $5-$10 million range [19] Q&A Session Summary Question: What dragged on revenue and margin performance in Q4? - Management indicated that both international and domestic sales were affected, with lower Metam sales and demand for potato products in the U.S. and drought conditions in Australia impacting international sales [24][25] Question: How do the L.A. closure and headquarters relocation fit into long-term plans? - The rationalization of the L.A. facility and the headquarters move were not initially part of the transformation plan but became necessary as the company analyzed capacity utilization [27][28] Question: Are there any cash proceeds associated with the facility closures? - There are no immediate plans to sell assets from the L.A. facility, which will continue to operate at a lower scale, while the headquarters move is expected to save $500,000 annually [30][31] Question: Is it possible to achieve free cash flow positive in 2026? - Management expressed confidence that adjusted EBITDA projections, less interest and capital expenditures, would lead to a favorable cash flow position in 2026 [32] Question: Can you provide details on the $100 million revenue increase from new products? - New products are primarily coming from insecticides and herbicides, with a mid-term definition extending to around 2030-2031 [36][40]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Transition Period From To Commission file number 001-13795 AMERICAN VANGUARD CORPORATION (State or other jurisdiction of Incorporation or organization) 4695 MacArthur Court, Newport Beach, Californ ...

EARNINGS PRESENTATION March 2026 CAUTIONARY STATEMENT Safe Harbor Statement The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this presentation the matters set forth in this presentation include forward-looking statements. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as "believe," "expect," "anticipate," "intend," "estima ...

Core Viewpoint - American Vanguard Corporation will report its financial results for the full year ending December 31, 2025, on March 16, 2026, after market close [1] Group 1: Earnings Release Details - The earnings conference call will take place on March 16, 2026, at 4:30 pm ET / 1:30 pm PT, hosted by CEO Dak Kaye and CFO David T. Johnson [1] - The conference call will be available via webcast on the company's website and will be archived for one year for later access [1] Group 2: Company Overview - American Vanguard is a diversified specialty and agriculture products company focused on crop protection, turf and ornamentals management, and public health [1] - The company has expanded significantly over the past 20 years through product and business acquisitions, now holding over 1,000 product registrations worldwide [1]

Group 1 - The core viewpoint is that American Vanguard maintains its adjusted EBITDA guidance for the full year 2025 at $40 million to $44 million, with expectations for strong performance in the fourth quarter and significant improvement in free cash flow [1] Group 2 - The company continues to strengthen cost control and inventory management, with inventory levels in Q3 2025 decreasing by $47 million year-on-year, and manufacturing efficiency improvements driving gross margin from 15% to 29% [2] - Management indicated that the market environment is expected to stabilize entering 2026, focusing on innovation and sustainable development strategies [2] Group 3 - As of February 27, 2026, AVD's stock price is $4.640, reflecting a daily decline of 1.69%, with a trading volume of $63,700, influenced by earnings report expectations and macroeconomic factors [3]

Core Viewpoint - The stock price of American Vanguard Company (AVD.N) experienced significant fluctuations over a 7-day period, with a range of 10.82% and a cumulative increase of 6.01%, influenced by market sentiment and the overall performance of the agricultural products sector, while the Nasdaq index declined by 2.10% [1]. Stock Recent Performance - The specific stock price movements over the past 7 days (February 8 to 13, 2026) are as follows: - February 9: Closed at $4.93, down 1.20% for the day - February 10: Closed at $5.00, up 1.42% for the day - February 11: Closed at $5.18, up 3.60% for the day - February 12: Closed at $5.22, up 0.77% for the day - February 13: Closed at $5.29, up 1.34% for the day, with a peak of $5.43 and a range of 4.12% [2]. - The total trading volume during this period was approximately $3.82 million, with a moderate turnover rate. As of February 13, the total market capitalization was $15 million, and the price-to-earnings ratio (TTM) was negative (-1.33), indicating that the company is still in a loss-making state [2].