Conference call to be conducted on Thursday, May 15, 2025, at 11:00 a.m. Eastern timeLONGMONT, Colo., May 12, 2025 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) will report third quarter fiscal year 2025 financial results for the period ended March 31, 2025, on Thursday, May 15, 2025, before the open of the market. The Company has scheduled a conference call that same day, Thursday, May 15, 2025, at 11:00 a.m. Eastern time (8:00 a.m. Pacific time) to review the results.Interested parties can access the co ...

Product Development and Business Strategy - The company plans to launch two new traits for sorghum products in fiscal 2025, including the second generation of Double Team and Prussic Acid Free [153]. - A new business model for private label customers will be introduced in fiscal 2025, focusing on licensing products, which is expected to enhance customer flexibility and control over costs [155]. - Research and development expenses will fluctuate based on the timing of various projects, with a focus on high-value activities in sorghum and proprietary traits [176]. Financial Performance - Revenue for the three months ended December 31, 2024, was $5,076,898, a decrease of $3,184,410 or 38.5% compared to $8,261,308 in the same period of 2023 [183]. - Gross profit decreased to $1,882,522, representing a gross profit margin of 37.1%, down from 42.8% in the prior year, a decline of 5.7 percentage points [186]. - Selling, general and administrative expenses increased by $444,920 to $4,687,826, accounting for 92.3% of revenue, compared to 51.4% in the previous year [187]. - Research and development expenses rose by $108,992 to $832,586, representing 16.4% of revenue, up from 8.8% in the prior year [188]. - The net loss from continuing operations before income taxes was $5,527,125, an increase of $2,347,808 or 73.8% compared to a loss of $3,179,317 in the same period of 2023 [192]. - For the six months ended December 31, 2024, revenue was $13,386,374, down $5,632,281 or 29.6% from $19,018,655 in the same period of 2023 [194]. - The gross profit for the six months ended December 31, 2024, was $3,218,891, a decrease of $3,040,191 or 48.6% compared to $6,259,082 in the prior year [194]. - Total operating expenses for the six months ended December 31, 2024, were $11,796,731, an increase of $342,768 or 3.0% from $11,453,963 in the same period of 2023 [194]. - The company recorded a net loss of $1,660,857 for the three months ended December 31, 2024, a decrease of $4,833,189 or 74.4% compared to a loss of $6,494,046 in the same period of 2023 [194]. Market and Economic Conditions - The company expects fluctuations in product revenue due to geopolitical and macroeconomic events, including the military conflict between Russia and Ukraine and global inflation [172]. - Inflationary pressures on labor and commodity prices are expected to continue impacting results throughout fiscal year 2025, with the company managing costs through selective price increases [244]. Cash Flow and Financing - Cash flows from operating activities for the six months ended December 31, 2024, were $5,359,175, compared to $1,874,127 for the same period in 2023 [237]. - Cash and cash equivalents at the end of the period were $1,393,200, an increase from $1,070,962 at the end of the same period in 2023 [237]. - The Mountain Ridge Credit Agreement provides a senior secured credit facility of up to $25.0 million, maturing on February 20, 2026, with a potential extension to December 19, 2027 [221]. - The initial advance under the Mountain Ridge Credit Facility was used to fully repay obligations to CIBC, with future advances available for working capital and general corporate purposes [222]. - Loan advances under the Mountain Ridge Credit Facility bear interest at a rate based on one-month term SOFR plus an applicable margin of 8.0% [223]. - The Mountain Ridge Credit Agreement includes various covenants, and failure to comply may result in acceleration of repayment obligations [224]. - The company is not profitable and has had negative cash flow from operations for several years, necessitating reliance on debt and equity financings [219]. - The company expects to meet future cash requirements through existing cash, cash flows from operations, and debt financing [220]. Discontinued Operations and Deconsolidation - S&W Australia was deconsolidated from the company's financial statements effective July 24, 2024, due to its voluntary administration process [156]. - The company had a net loss from discontinued operations of $1.6 million, primarily due to a $5.1 million loss on the disposal of S&W Australia [204]. - The net loss from discontinued operations improved by $7,328,571, resulting in a net income of $4,592,714 for the three months ended December 31, 2024, compared to a loss of $2,735,857 in the prior year [193]. Accounting and Compliance - The effective tax rate is influenced by differences in expense deductibility and tax planning opportunities, with a full valuation allowance recorded against U.S. deferred tax assets [181]. - The company received a waiver from AgAmerica for non-compliance with reporting requirements due to delayed filing of the Annual Report [233]. - Adverse geopolitical and macroeconomic events have increased the risk of non-compliance with covenants, potentially leading to foreclosure on pledged assets [234]. - Future liquidity and capital requirements will be influenced by factors including debt maturity, operating income sustainability, and market developments [234]. - There have been no material changes to critical accounting policies or methodologies used for estimates from those described in the previous annual report [246].

S&W Seed Company (NASDAQ:SANW) Q2 2025 Results Conference Call February 13, 2025 11:00 AM ET Company Participants Robert Blum - Lytham Partners Mark Herrmann - Chief Executive Officer Vanessa Baughman - Chief Financial Officer Conference Call Participants Benjamin Klieve - Lake Street Capital Markets Kurt Caramanidis - Carl M. Hennig Operator Welcome to the S&W Seed Company Second Quarter Fiscal Year 2025 Financial Results Conference Call. All participants will be in listen-only mode. Should you need assist ...

Revenue Performance - Revenue for Q2 fiscal 2025 was $5.1 million, a 38.5% decrease compared to $8.3 million in Q2 fiscal 2024[9] - Revenue for the three months ended December 31, 2024, was $5,076,898, a decrease of 38.5% compared to $8,261,308 for the same period in 2023[38] - S&W expects fiscal 2025 revenue to range from $34.5 million to $38.0 million, including approximately $4.1 million of international sales in Q1 fiscal 2025[16] Profitability and Loss - Gross profit margin for Q2 fiscal 2025 was 37.1%, down from 42.8% in Q2 fiscal 2024, primarily due to decreased sales of high-margin products[10] - Net loss from continuing operations was ($6.3) million, or ($2.73) per share, compared to a loss of ($3.8) million, or ($1.66) per share in Q2 fiscal 2024[13] - Adjusted EBITDA for Q2 fiscal 2025 was ($2.9) million, worsening from ($1.1) million in Q2 fiscal 2024[15] - Net loss attributable to S&W Seed Company for the six months ended December 31, 2024, was $17,890,583, compared to a net loss of $12,418,481 in 2023, representing a 43.9% increase in loss[38] - The company reported a net loss per share from continuing operations of $5.46 for the six months ended December 31, 2024, compared to $3.81 in 2023[38] - Non-GAAP adjusted net loss for the six months ended December 31, 2024, was $9,623,047, compared to $6,574,749 for the same period in 2023, representing an increase of approximately 46%[44] Operating Expenses - GAAP operating expenses were $6.2 million in Q2 fiscal 2025, up from $5.7 million in Q2 fiscal 2024[11] - Operating expenses for the six months ended December 31, 2024, were $11,796,731, slightly up from $11,453,963 in the same period of 2023, reflecting an increase of about 3%[43] - Research and development expenses for the six months ended December 31, 2024, were $1,574,406, compared to $1,502,483 in 2023, reflecting a 4.8% increase[38] Strategic Initiatives - S&W is exploring various strategic alternatives to enhance shareholder value, including potential mergers or recapitalization[8] - The company is exploring various strategic alternatives, including potential transactions or outcomes from divesting its Australian subsidiary[35] Financial Position - Total current assets decreased from $63,374,490 as of June 30, 2024, to $34,198,471 as of December 31, 2024, representing a decline of approximately 46%[40] - Total liabilities decreased from $75,694,416 as of June 30, 2024, to $38,330,024 as of December 31, 2024, a reduction of about 49%[40] - Total stockholders' equity decreased from $39,262,360 as of June 30, 2024, to $28,963,859 as of December 31, 2024, a decline of about 26%[40] Cash Flow - The company experienced a net cash provided by operating activities of $3,924,258 for the six months ended December 31, 2024, compared to $1,436,824 for the same period in 2023, an increase of approximately 173%[42] - Cash and cash equivalents increased to $1,393,200 at the end of the period from $286,508 at the beginning, marking a significant increase of approximately 386%[42] Other Financial Metrics - Non-GAAP adjusted EBITDA for the six months ended December 31, 2024, was $(5,997,141), an increase in loss from $(2,796,305) in the same period of 2023[45] - Interest expense for the three months ended December 31, 2024, was $830,235, up from $712,290 in the same period of 2023[45] - Depreciation and amortization for the six months ended December 31, 2024, totaled $1,510,804, compared to $1,625,385 in the same period of 2023[45] - Non-recurring transaction costs for the three months ended December 31, 2024, were $601,442, significantly higher than $48,551 in the same period of 2023[45] - Equity in loss of equity method investee (Vision Bioenergy) for the six months ended December 31, 2024, was $1,571,775, compared to $1,354,012 in the same period of 2023[45] - Foreign currency loss for the six months ended December 31, 2024, was $8,739, compared to a gain of $(24,557) in the same period of 2023[45]

LONGMONT, Colo., Feb. 13, 2025 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW), or S&W, today announced financial results for the three months ended December 31, 2024.Operational Highlights Repositioned to exclusively focus on core Americas-based operations, led by its high margin Double Team sorghum solutions, following the completion of Voluntary Administration, or VA, process pertaining to S&W Australia. Closed new $25.0 million credit facility. Implemented operating optimization plan to align cost struc ...

Conference call to be conducted on Thursday, February 13, 2025, at 11:00 a.m. ETLONGMONT, Colo., Feb. 6, 2025 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) will report financial results for its second quarter fiscal year 2025, ended December 31, 2024, on Thursday, February 13, 2025, before the open of the market. The Company has scheduled a conference call that same day, Thursday, February 13, 2025, at 11:00 a.m. ET (8:00 a.m. PT) to review the results.Interested parties can access the conference call by ...

Strategic Review and Alternatives - The Board of Directors of S&W Seed Company is initiating a process to explore and evaluate various strategic alternatives to enhance shareholder value [1] - Potential opportunities under consideration include a sale of the company, a merger with another strategic partner, a recapitalization, or continued execution of the company's long-term business plan [2] - The review process does not guarantee any transaction or strategic outcome, and no timetable has been set for its completion [3] Company Performance and Initiatives - S&W Seed has successfully executed its long-term plan over the past year, including divesting its Australian subsidiary and focusing on core US-based sorghum and alfalfa operations [3] - The company has strengthened its position through its high-margin sorghum trait portfolio, Double Team, and its investment in the VBO Camelina biofuel joint-venture with Shell [3] - S&W Seed has also aligned its cost structure and strengthened its management and employee base [3] Company Overview - S&W Seed Company, founded in 1980, is a multi-crop, middle-market agricultural company headquartered in Longmont, Colorado [5] - The company aims to be a preferred proprietary seed company supporting the growing demand for animal proteins and healthier consumer diets [5] - S&W Seed is a leader in sorghum seeds with significant R&D, production, and distribution capabilities, and has a commercial presence in proprietary alfalfa and sustainable biofuel feedstocks, primarily camelina [5] Advisory and Legal Support - The company is being advised by Rabobank Securities Inc as the financial advisor and Cooley LLP as legal counsel during the strategic review process [4]

Core Company Initiatives - S&W Seed Company has implemented strategic initiatives to focus on its core U.S.-based operations, particularly its high-margin sorghum trait portfolio with Double Team, while aligning its cost structure for near-term profitability [1] - The company has closed a new $25 million revolving credit agreement with ABL OPCO LLC, replacing an existing facility with CIBC Bank USA [4] Financial Developments - MFP Partners L.P., S&W's largest shareholder, provided a letter of credit worth $13 million to support S&W's obligations under the new credit agreement, enhancing the company's borrowing capacity [10] - S&W repurchased 200,000 shares of its common stock from MFP in a private transaction, which were then retired and restored to authorized but unissued shares [7] Company Overview - Founded in 1980, S&W is a global multi-crop agricultural company based in Longmont, Colorado, aiming to be the preferred proprietary seed company supplying sorghum, forage, and specialty crop products [2] - S&W is a leader in sorghum seeds with strong research, development, production, and distribution capabilities, and has a commercial presence in proprietary alfalfa and sustainable biofuel feedstocks [2]

S&W Announces Fiscal 2024 Financial Results Company to host conference call and webcast today at 11:00 a.m. Eastern time to discuss the results Longmont, Colorado – November 1, 2024 – S&W Seed Company (Nasdaq: SANW) today announced financial results for the fiscal year ended June 30, 2024. Financial Highlights • Revenue for fiscal 2024 was $60.4 million, a 17.8% decrease compared to fiscal 2023. Double Team TM sorghum revenue was $10.9 million in fiscal 2024 compared to $6.5 million in fiscal 2023. • Gross ...

LONGMONT, Colo., Nov. 26, 2024 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) today announced it has filed its 10-Q for the three months ended September 30, 2024. S&W previously issued preliminary first quarter fiscal 2025 financial results on November 19, 2024. The financial results filed in the 10-Q are in line with the preliminary financial results previously released.In addition to the filing of the 10-Q, the Company announced yesterday that it has finalized the voluntary plan of administration, or VA, ...