Marrone Bio Innovations, Inc. (MBII) Q1 2022 Earnings Conference Call May 11, 2022 4:30 PM ET Company Participants Kevin Helash – Chief Executive Officer Linda Moore – Chief Legal Officer LaDon Johnson – Interim Chief Financial Officer Matti Tiainen – Senior Vice President International Sales Kamal El Mernissi – Senior Director of Product & Marketing Conference Call Participants Dmitry Silversteyn – Water Tower Research Operator Good afternoon ladies and gentlemen, and welcome to the First Quarter 2022 Earn ...

Financial Performance - Annual revenue increased from $38.4 million in 2020 to $44.3 million in 2021[4] - Gross profit margin improved from 59.6% in 2020 to 61.5% in 2021[8] - Adjusted EBITDA loss decreased from $(11.0) million in 2020 to $(8.7) million in 2021[6] - Operating expense ratio decreased from 104.4% in FY 2020 to 96.3% in FY 2021[9] Q4 2021 Results - Revenues increased by 40.2% from $7.7 million in Q4 2020 to $10.8 million in Q4 2021[12] - Gross profit increased by 31.5% from $4.9 million in Q4 2020 to $6.5 million in Q4 2021[12] - Adjusted EBITDA loss increased by 78.7% from $(2.2) million in Q4 2020 to $(4.0) million in Q4 2021[12] Cash Flow and Debt - Cash used in operations improved from $(16.0) million to $(10.0) million[10] - Ending cash increased by $3.8 million to $19.6 million[10] - Net debt increased by $1.7 million[10] Merger Highlights - The merger creates a combined revenue of +$300 million growing at a +20% CAGR over the past 4 years[11]

Marrone Bio Innovations, Inc. (MBII) Q4 2021 Results Conference Call March 28, 2022 4:30 PM ET Company Participants Linda Moore - Chief Legal Officer Kevin Helash - Chief Executive Officer LaDon Johnson - Interim CFO Matti Tiainen - Senior Vice President of International Sales Kamal El Mernissi - Senior Director of Product & Marketing Conference Call Participants Bobby Burleson - Canaccord Dmitry Silversteyn - Water Tower Research Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome t ...

[Unaudited Interim Condensed Consolidated Financial Statements](index=3&type=section&id=Unaudited%20interim%20condensed%20consolidated%20financial%20statements) This section presents the company's financial position, comprehensive income, equity changes, and cash flows for the interim period ended December 31, 2021, highlighting significant financial performance and balance sheet shifts [Statements of Financial Position](index=3&type=section&id=UNAUDITED%20INTERIM%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20FINANCIAL%20POSITION) As of December 31, 2021, total assets increased to **$469.6 million** from **$394.6 million**, driven by current assets, while total liabilities rose to **$358.2 million** from **$304.3 million**, primarily due to non-current borrowings, resulting in an equity increase to **$111.4 million** Consolidated Statement of Financial Position (in USD) | Account | 12/31/2021 | 06/30/2021 | | :--- | :--- | :--- | | **Total Current Assets** | 272,038,956 | 211,489,658 | | **Total Non-Current Assets** | 197,600,606 | 183,100,299 | | **Total Assets** | **469,639,562** | **394,589,957** | | **Total Current Liabilities** | 180,151,507 | 168,037,855 | | **Total Non-Current Liabilities** | 178,078,454 | 136,261,798 | | **Total Liabilities** | **358,229,961** | **304,299,653** | | **Total Equity** | **111,409,601** | **90,290,304** | | **Total Equity and Liabilities** | **469,639,562** | **394,589,957** | - The increase in current assets was largely due to a rise in **Trade Receivables (from $88.8 million to $119.3 million)** and **Inventories (from $61.0 million to $87.3 million)**[3](index=3&type=chunk) - The growth in total liabilities was primarily driven by an increase in non-current borrowings, which rose from **$48.0 million to $90.7 million**[4](index=4&type=chunk) [Statements of Comprehensive Income](index=5&type=section&id=UNAUDITED%20INTERIM%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20INCOME) For the six months ended December 31, 2021, revenues significantly increased to **$158.7 million** from **$90.1 million**, leading to a **profit of $7.6 million** compared to a prior-year loss of **$4.6 million**, with basic EPS at **$0.1046** and total comprehensive income at **$21.2 million** Six-Month Performance Summary (in USD) | Metric | Six-months ended 12/31/2021 | Six-months ended 12/31/2020 | | :--- | :--- | :--- | | Revenues from contracts | 158,667,650 | 90,108,598 | | Operating profit | 27,741,426 | 19,902,485 | | Profit (loss) for the period | 7,603,722 | (4,571,304) | | Total comprehensive profit (loss) | 21,226,210 | (3,776,177) | | Basic profit (loss) per share | 0.1046 | (0.1663) | | Diluted profit (loss) per share | 0.1014 | (0.1663) | - Revenue for the three-month period ended Dec 31, 2021, nearly doubled to **$92.3 million** from **$48.0 million** in the same period of 2020[5](index=5&type=chunk) [Statements of Changes in Equity](index=7&type=section&id=UNAUDITED%20INTERIM%20CONDENSED%20STATEMENTS%20OF%20CHANGES%20IN%20EQUITY) Total equity increased from **$90.3 million** to **$111.4 million** during the six months ended December 31, 2021, primarily driven by a **$7.6 million profit** and **$13.6 million in other comprehensive income**, including foreign currency translation gains Changes in Equity for the Six-Month Period Ended 12/31/2021 (in USD) | Description | Amount | | :--- | :--- | | **Equity at 06/30/2021** | **90,290,304** | | Share-based incentives | 873,409 | | Changes in non-controlling interests | (980,322) | | Profit for the period | 7,603,722 | | Other comprehensive income | 13,622,488 | | **Equity at 12/31/2021** | **111,409,601** | - In the comparable prior-year period (six months ended Dec 31, 2020), total equity decreased from **$60.7 million to $77.9 million**, impacted by a net loss of **$4.6 million** but supported by share issuances totaling **$21.8 million**[9](index=9&type=chunk) [Statements of Cash Flows](index=9&type=section&id=UNAUDITED%20INTERIM%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) For the six months ended December 31, 2021, net cash used in operating activities improved to **$19.9 million**, investing activities generated **$4.0 million**, and financing activities generated **$17.8 million**, resulting in cash and cash equivalents of **$36.4 million** at period-end Six-Month Cash Flow Summary (in USD) | Activity | 12/31/2021 | 12/31/2020 | | :--- | :--- | :--- | | Net cash flows used in operating activities | (19,867,508) | (23,645,659) | | Net cash flows generated by (used in) investing activities | 3,966,879 | (12,195,310) | | Net cash flows generated by financing activities | 17,777,727 | 12,173,742 | | **Net increase (decrease) in cash** | **1,877,098** | **(23,667,227)** | | **Cash at end of period** | **36,366,131** | **19,130,206** | - The negative operating cash flow was primarily due to working capital adjustments, including a **$34.5 million increase in trade receivables** and a **$35.2 million increase in inventories**[13](index=13&type=chunk) - Financing activities were driven by **$79.9 million in proceeds from borrowings**, offset by **$58.8 million in repayments**[15](index=15&type=chunk) [Notes to the Financial Statements](index=12&type=section&id=Notes%20to%20the%20unaudited%20interim%20condensed%20consolidated%20financial%20statements) This section provides detailed explanations of the accounting policies, operational factors, and specific components of the financial statements, including segment information and post-reporting events [General Information and Accounting Policies (Notes 1-3)](index=12&type=section&id=1.%20GENERAL%20INFORMATION) Bioceres Crop Solutions Corp. is a global provider of crop productivity technologies, with financial statements prepared under IAS 34 in US Dollars, applying IAS 29 for hyperinflationary economies, and including non-material reclassifications to prior period cash flows - The company is a fully integrated provider of crop productivity technologies, including a biotech platform for seeds, microbial ag-inputs, and crop nutrition/protection solutions[18](index=18&type=chunk) - The financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting and should be read in conjunction with the annual statements as of June 30, 2021[20](index=20&type=chunk)[21](index=21&type=chunk) - Due to hyperinflation in Argentina, the company applies IAS 29, which requires restating non-monetary items using a general price index, with the presentation currency being the US Dollar[25](index=25&type=chunk)[30](index=30&type=chunk) - The Group revised its previously issued cash flow statement for December 31, 2020, to reclassify certain short-term investments to cash equivalents and move purchases of own shares from investing to financing activities, with the impact deemed non-material[33](index=33&type=chunk) [Operational Factors (Notes 4-5)](index=15&type=section&id=4.%20IMPACT%20OF%20COVID-19) The Group's agricultural operations were largely exempt from COVID-19 disruptions, with no material financial impact, though future uncertainties remain, and the business exhibits high seasonality with sales concentrated in the third and fourth calendar quarters - The Group's operations in agricultural production and commercialization have been mostly exempted from disruptions caused by COVID-19, with no material impact on financial condition or results[42](index=42&type=chunk) - The business is highly seasonal, with sales concentrated in the third and fourth quarters of the calendar year, aligning with the South American growing season, which leads to significant fluctuations in quarterly results[45](index=45&type=chunk) [Details of Financial Position (Note 6)](index=16&type=section&id=6.%20INFORMATION%20ABOUT%20COMPONENTS%20OF%20UNAUDITED%20INTERIM%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20FINANCIAL%20POSITION) This note provides a detailed breakdown of key balance sheet items as of December 31, 2021, showing significant increases in inventories and trade receivables, growth in biological assets (HB4 Wheat), modest increases in PP&E and intangible assets, and a shift in borrowings towards a higher non-current portion [Inventories (Note 6.5)](index=18&type=section&id=6.5.%20Inventories) Total inventories increased to **$87.3 million** as of December 31, 2021, from **$61.0 million** on June 30, 2021, primarily due to growth in resale, manufactured, and agricultural products Inventory Breakdown (in USD) | Category | 12/31/2021 | 06/30/2021 | | :--- | :--- | :--- | | Resale products | 31,157,840 | 21,368,521 | | Manufactured products | 14,169,831 | 10,902,683 | | Agricultural products | 31,031,179 | 21,984,626 | | Supplies | 10,209,965 | 6,320,594 | | **Total (Net of allowance)** | **87,308,712** | **61,037,551** | [Biological Assets (Note 6.6)](index=18&type=section&id=6.6.%20Biological%20assets) Biological assets increased to **$8.1 million** as of December 31, 2021, from **$2.3 million**, driven by costs incurred and fair value changes, with **HB4 Wheat** accounting for **$5.9 million** of the total - The value of biological assets grew from **$2.3 million to $8.1 million** during the six-month period, with **HB4 Wheat** being the largest component at **$5.9 million**[54](index=54&type=chunk) [Property, Plant and Equipment (Note 6.7)](index=18&type=section&id=6.7.%20Property%2C%20plant%20and%20equipment) The net carrying amount of Property, Plant, and Equipment (PP&E) slightly increased to **$48.9 million** from **$48.0 million**, with Land and Buildings remaining the largest asset class at **$35.1 million**, reflecting **$1.8 million** in additions and **$1.7 million** in depreciation PP&E Summary (in USD) | Category | 12/31/2021 | 06/30/2021 | | :--- | :--- | :--- | | Gross carrying amount | 67,386,521 | 63,974,402 | | Accumulated depreciation | (18,439,966) | (16,019,806) | | **Net carrying amount** | **48,946,555** | **47,954,596** | [Intangible Assets (Note 6.8)](index=21&type=section&id=6.8.%20Intangible%20assets) The net carrying amount of intangible assets increased to **$72.6 million** from **$67.3 million**, primarily comprising the **HB4 soy and breeding program ($29.5 million)** and **customer loyalty ($20.9 million)**, with **$2.4 million** in capitalized R&D expenditures Intangible Assets Summary (in USD) | Category | 12/31/2021 | 06/30/2021 | | :--- | :--- | :--- | | Gross carrying amount | 85,908,018 | 78,019,203 | | Accumulated amortization | (13,345,000) | (10,676,841) | | **Net carrying amount** | **72,563,018** | **67,342,362** | - Key intangible assets include the **HB4 soy and breeding program ($29.5 million)**, **customer loyalty ($20.9 million)**, and **trademarks and patents ($7.3 million)**[66](index=66&type=chunk) [Borrowings (Note 6.11)](index=23&type=section&id=6.11.%20Borrowings) Total borrowings increased to **$139.0 million** from **$124.8 million**, with a significant shift from current to non-current liabilities, as current borrowings decreased to **$48.2 million** while non-current borrowings rose to **$90.7 million**, partly due to a **$20 million** corporate bond offering Borrowings Breakdown (in USD) | Category | 12/31/2021 | 06/30/2021 | | :--- | :--- | :--- | | Current Borrowings | 48,230,663 | 76,785,857 | | Non-Current Borrowings | 90,738,228 | 47,988,468 | | **Total Borrowings** | **138,968,891** | **124,774,325** | - On December 23, 2021, the company completed a **$20 million public offering of Series VII corporate bonds** maturing in December 2024 with an annual interest rate of **1.49%**[76](index=76&type=chunk) [Details of Comprehensive Income (Note 7)](index=24&type=section&id=7.%20INFORMATION%20ABOUT%20COMPONENTS%20OF%20UNAUDITED%20INTERIM%20CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20COMPREHENSIVE%20INCOME) This note details the income statement for the six months ended December 31, 2021, showing revenue growth to **$158.7 million**, a gross profit of **$66.4 million**, total R&D investment of **$5.2 million**, and improved net financial results at a cost of **$13.4 million** Revenue Breakdown (in USD) | Category | 12/31/2021 | 12/31/2020 | | :--- | :--- | :--- | | Sale of goods and services | 157,538,626 | 88,616,572 | | Royalties | 1,129,024 | 1,492,026 | | **Total** | **158,667,650** | **90,108,598** | R&D Investment Summary (in USD) | Category | 12/31/2021 | 12/31/2020 | | :--- | :--- | :--- | | R&D capitalized | 2,425,244 | 1,556,367 | | R&D expensed | 2,815,574 | 2,139,032 | | **Total R&D** | **5,240,818** | **3,695,399** | Net Financial Results (in USD) | Category | 12/31/2021 | 12/31/2020 | | :--- | :--- | :--- | | Financial costs | (6,763,065) | (10,642,180) | | Other financial results | (6,638,224) | (7,990,156) | | **Total net financial results** | **(13,401,289)** | **(18,632,336)** | [Taxation and EPS (Notes 8-9)](index=28&type=section&id=8.%20TAXATION) For the six months ended December 31, 2021, the company reported an income tax expense of **$6.7 million** on a **$14.3 million profit before tax**, with basic EPS at **$0.1046** and diluted EPS at **$0.1014**, marking a significant improvement from the prior-year loss per share Income Tax Expense (in USD) | Category | 12/31/2021 | 12/31/2020 | | :--- | :--- | :--- | | Current tax expense | (11,916,178) | (6,716,736) | | Deferred tax | 5,179,763 | 875,283 | | **Total** | **(6,736,415)** | **(5,841,453)** | Earnings Per Share (EPS) | Metric | Six-months ended 12/31/2021 | Six-months ended 12/31/2020 | | :--- | :--- | :--- | | Basic EPS | 0.0834 | (0.1663) | | Diluted EPS | 0.0808 | (0.1663) | [Segment and Investment Information (Notes 12-13)](index=30&type=section&id=13.%20SEGMENT%20INFORMATION) The company operates three segments: Crop Protection (**$82.6 million** revenue), Crop Nutrition (**$51.9 million** revenue), and Seed and Integrated Products (**$25.1 million** revenue), with the latter achieving the highest gross margin at **64%**, and holds **$34.1 million** in joint venture investments Segment Performance for Six Months Ended 12/31/2021 (in USD) | Segment | Total Revenue | Cost of Sales | Gross Profit | Gross Margin % | | :--- | :--- | :--- | :--- | :--- | | Seed and integrated products | 25,110,137 | (8,988,420) | 16,121,717 | 64% | | Crop protection | 82,603,469 | (57,480,257) | 25,123,212 | 30% | | Crop nutrition | 51,855,492 | (26,746,765) | 25,108,727 | 48% | - Compared to the prior year, all segments showed strong revenue growth, with **Crop Nutrition revenue more than doubling from $21.2 million to $51.9 million**, and **Crop Protection revenue growing from $48.7 million to $82.6 million**[109](index=109&type=chunk) - Investments in joint ventures and associates totaled **$34.1 million** as of December 31, 2021, with **Synertech Industrias S.A. being the largest holding at $30.9 million**[104](index=104&type=chunk) [Compensation and Share-Based Payments (Notes 16-17)](index=35&type=section&id=17.%20SHARE-BASED%20PAYMENTS) For the six months ended December 31, 2021, key management personnel compensation totaled **$1.7 million**, including **$0.9 million** in share-based incentives, with **93,600 new options** granted under plans with exercise prices of **$4.55** and **$5.55**, resulting in a **$0.6 million** charge for option plans and **$0.25 million** for bonuses Key Management Personnel Compensation (in USD) | Category | 12/31/2021 | 12/31/2020 | | :--- | :--- | :--- | | Salaries, social security and other benefits | 803,905 | 1,079,894 | | Share-based incentives | 873,407 | 636,519 | | **Total** | **1,677,312** | **1,716,413** | - The company has share option plans for directors and management with exercise prices of **$4.55 and $5.55 per share**, expiring in 2029 and 2030, respectively[124](index=124&type=chunk) - The total charge recognized for share-based payments during the period was **$0.6 million for option plans** and **$0.25 million for annual bonuses**[130](index=130&type=chunk)[131](index=131&type=chunk)[132](index=132&type=chunk) [Other Disclosures (Notes 18-20)](index=37&type=section&id=20.%20EVENTS%20OCCURRING%20AFTER%20THE%20REPORTING%20PERIOD) As of December 31, 2021, lease liabilities totaled **$1.2 million** with corresponding right-of-use assets valued at **$1.5 million**, and no significant changes to contingencies or commitments occurred since the last annual report, nor were there any significant post-reporting period events requiring adjustment or disclosure Lease Summary (in USD) | Account | 12/31/2021 | 06/30/2021 | | :--- | :--- | :--- | | Right-of-use leased asset | 1,488,608 | 1,327,660 | | Lease liability (Total) | 1,205,745 | 1,140,717 | - There were no significant changes to contingencies, commitments, or restrictions on profit distribution since the annual financial statement of June 30, 2021[136](index=136&type=chunk) - No significant events occurred after the December 31, 2021 reporting period that would require adjustment or disclosure[137](index=137&type=chunk)

Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Q2 2022 Earnings Conference Call February 11, 2022 8:30 AM ET Company Participants Rodrigo Krause - Head, IR Federico Trucco - CEO Enrique López Lecube - CFO Conference Call Participants Ben Klieve - Lake Street Capital Market Brian Wright - ROTH Capital Partners Kemp Dolliver - Brookline Capital Markets Operator Hello and welcome to the Bioceres Crop Solutions' Fiscal Second Quarter 2022 Financial Results Conference Call. My name is Victoria and I will be coordin ...

Second Quarter Fiscal Year 2022 Financial and Operating Results a Bioceres Crop Solutions Disclaimer | --- ...

Investor Presentation NASDAQ: BIOX November 2021 ര Bioceres Crop Solutions Disclaimer | --- ...

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Marrone Bio Innovations, Inc. (MBII) Q3 2021 Earnings Conference Call November 10, 2021 4:30 PM ET Company Participants Linda Moore – Chief Legal Officer Kevin Helash – Chief Executive Officer Sue Cheung – Chief Financial Officer Matti Tiainen – Senior Vice President of International Sales Conference Call Participants Gerry Sweeney – Roth Capital Laurence Alexander – Jefferies Ben Klieve – Lake Street Capital Operator Good day, and thank you for standing by. Welcome to the Third Quarter 2021 Earnings Confer ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K Report of Foreign Private Issuer Pursuant to Rules 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of October 2021 Commission File Number: 001-38836 BIOCERES CROP SOLUTIONS CORP. (Translation of registrant's name into English) Ocampo 210 bis, Predio CCT, Rosario Province of Santa Fe, Argentina (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annua ...