S&W Seed Company (NASDAQ:SANW) Q1 2022 Results Conference Call November 11, 2021 11:00 AM ET Company Participants Robert Blum - IR, Lytham Partners Mark Wong - President & CEO Matthew Szot - EVP & CFO Conference Call Participants Sarkis Sherbetchyan - B. Riley Securities Ben Klieve - Lake Street Capital Markets Tom Harenburg - Carl M. Hennig Inc Jonathon Fite - KMF Investments Operator Good day, and welcome to the S&W Seed Company Reports First Quarter Fiscal Year 2022 Financial Results. All participants wi ...

Revenue and Sales Performance - Revenue for the year ended June 30, 2021, was $84.0 million, an increase of $4.4 million from $79.6 million in 2020, primarily due to a $9.9 million increase in core product revenue [201]. - Core Revenue for the year ended June 30, 2021, was $69.8 million, representing an increase of $9.9 million or 16.6% compared to $59.9 million in 2020, largely attributed to the Pasture Genetics operation acquired in February 2020 [202]. - Sales into international markets accounted for 56% of total revenue for the year ended June 30, 2021, compared to 54% in 2020, while domestic revenue decreased to 44% from 46% [203]. - Total revenue for the year ended June 30, 2021, was $84.0 million, a 5.5% increase from $79.6 million in 2020 [204]. Operational Challenges - The company has experienced logistical challenges during the twelve months ended June 30, 2021, due to limited availability of trucks and rising shipping costs, which are expected to persist throughout fiscal 2022 [184]. - The company expects logistical challenges to persist throughout fiscal 2022, impacting operational efficiency and costs [207]. - The company has shifted sales activities to video conferencing due to COVID-19, which has been less effective than in-person sales efforts, potentially impacting sales cycles [183]. Financial Performance - Cost of revenue for the year ended June 30, 2021, was $70.4 million, representing 83.7% of total revenue, compared to 81.2% in 2020 [205][206]. - Gross profit margin decreased to 16.3% for the year ended June 30, 2021, down from 18.8% in the prior year, primarily due to logistical challenges and a higher concentration of lower-margin products [207]. - Selling, General and Administrative (SG&A) expenses totaled $21.9 million for the year ended June 30, 2021, a slight increase from $21.3 million in 2020, with SG&A as a percentage of revenue decreasing to 26.0% [209]. - Research and development expenses increased to $8.5 million for the year ended June 30, 2021, up from $7.3 million in 2020, driven by investments in wheat and hybrid programs [210]. - Interest expense rose to $2.3 million for the year ended June 30, 2021, compared to $2.0 million in 2020, primarily due to increased borrowing levels [216]. Cash Flow and Financing - The company has had negative cash flow from operations for several years and anticipates needing additional funds to finance future operations [224]. - For the year ended June 30, 2021, cash flows from operating activities used $14,221,042, compared to $5,763,627 for the previous year [241]. - The net loss plus adjustments for non-cash items for the year ended June 30, 2021 was $15.8 million, with changes in operating assets and liabilities providing $1.6 million in cash [242]. - Financing activities provided $10,892,685 in cash for the year ended June 30, 2021, including net proceeds from the sale of common stock of $10.2 million [247]. Debt and Credit Facilities - The CIBC Credit Facility provides a $25.0 million credit line, with amounts due payable in full by December 23, 2022 [227]. - As of June 30, 2021, S&W Australia had debt facilities with NAB guaranteed by S&W Seed Company up to a maximum of AUD $15,000,000 (USD $11,247,000) [232]. - The consolidated debt facilities with NAB provide up to AUD $35,500,000 (USD $26,617,900) of credit, including an overdraft line of AUD $3,000,000 (USD $2,249,400) and a borrowing base line of AUD $26,000,000 (USD $19,494,800) [233]. - As of June 30, 2021, S&W Australia was in compliance with all debt covenants under its debt facilities with NAB [234]. Asset Management - The company recorded a gain on the disposal of property, plant, and equipment related to the sale of its Five Points facility [212]. - Investing activities provided $2,465,746 in cash for the year ended June 30, 2021, primarily from the disposal of property and equipment [244]. - The goodwill balance at June 30, 2021, related to the February 2020 acquisition of Pasture Genetics, showed no impairment for the year [256]. - A write-down of inventory amounting to $1.4 million was recognized during the year ended June 30, 2021, primarily due to deterioration in quality and germination rates of certain inventory lots [264]. - The company regularly assesses the collectability of receivables and provides an allowance for doubtful trade receivables based on historical collection experience and current economic conditions [265]. Future Outlook and Development - The company expects to introduce more than 25 new seed products during the 2021-2022 fiscal years, enhancing its product pipeline [177]. - The company plans to focus on high-value activities in research and development, particularly for alfalfa and sorghum, with fluctuating expenses based on project timing [193]. - The company maintains an active stevia development program, although it has yet to generate meaningful revenue [189]. - The company does not expect significant revenue from sales to Corteva in the future, as it has restructured its relationship and reduced reliance on alfalfa sales [179]. Share-Based Compensation - The company utilizes the Black-Scholes-Merton option pricing model for estimating the fair value of options granted under share-based compensation plans, considering factors such as expected term, stock price volatility, and risk-free interest rate [260]. - The Paycheck Protection Program loan of $1,958,600 was fully forgiven in March 2021 [237]. - The company had $3.1 million remaining available for sale under the At Market Issuance Sales Agreement as of September 27, 2021 [240].

S&W Seed Company (NASDAQ:SANW) Q4 2021 Earnings Conference Call September 27, 2021 11:00 AM ET Company Participants Robert Blum - IR, Lytham Partners Mark Wong - President & CEO Matthew Szot - EVP & CFO Conference Call Participants Sarkis Sherbetchyan - B. Riley Securities Ben Klieve - Lake Street Capital Gerry Sweeney - ROTH Capital Jonathon Fite - KMF Investments Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcrip ...

S&W Seed Company (NASDAQ:SANW) Q3 2021 Results Conference Call May 13, 2021 11:00 AM ET Company Participants Robert Blum - IR, Lytham Partners Mark Wong - President and CEO Matthew Szot - CFO Conference Call Participants Sarkis Sherbetchyan - B. Riley Securities Ben Klieve - Lake Street Capital Gerry Sweeney - ROTH Capital Operator Good day, and welcome to the S&W Seed Company Reports Third Quarter of Fiscal Year 2021 Financial Results Conference Call. [Operator Instructions] Please note, this event is bein ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period year ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ (Registrant's Telephone Number, Including Area Code) | Securities Registered Pursuant to Section 12(b) of the Act: | | | | ...

Call Start: 11:00 January 1, 0000 11:50 AM ET S&W Seed Company (NASDAQ:SANW) Q2 2021 Earnings Conference Call February 11, 2021, 11:00 am ET Company Participants Robert Blum - IR, Lytham Partners, LLC Mark Wong - President & CEO Matthew Szot - CFO Conference Call Participants Sarkis Sherbetchyan - B. Riley Securities Ben Klieve - National Securities Corporation Gerry Sweeney - ROTH Capital Operator Good day and welcome to the S&W Seed Company's Second Quarter of the Fiscal Year 2021 Financial Results Confer ...

(Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period year ended December 31, 2020 (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Nevada 27-1275784 (I.R.S. Employer Identification No.) 2101 Ken ...

Financial Data and Key Metrics Changes - Core revenue for Q1 2021 was $12.2 million, a 36% increase from $9 million in Q1 2020, building on a previous 59% growth in 2020 [29] - Total revenue, including Pioneer contributions, was $13.9 million for Q1 2021 compared to $12.3 million in Q1 2020 [30] - Adjusted gross margins were 19.4% in Q1 2021, down from 27.9% in Q1 2020, primarily due to lower-margin alfalfa sales and an inventory write-down of $900,000 [31] - Adjusted operating expenses increased to $8.1 million in Q1 2021 from $7.1 million in 2020, attributed to the acquisition of Pasture Genetics and increased investments in sales and marketing [32] Business Line Data and Key Metrics Changes - The company expects core revenue for fiscal 2021 to be between $73 million and $75 million, representing a growth of 22% to 32% [30] - The introduction of new products, including Double Team Sorghum and Improved Quality Alfalfa, is anticipated to drive growth [19][23] Market Data and Key Metrics Changes - In the U.S., improving commodity prices for corn, soybeans, and cotton are positively impacting the market, driven by purchases from China [8] - In Australia, favorable weather conditions and high protein prices for beef and sheep are expected to lead to a strong planting season [9] Company Strategy and Development Direction - The company is expanding into new geographic markets and product lines, focusing on alfalfa, sorghum, sunflower, and pasture crops to drive sales growth [11][12] - A broad licensing strategy for new technologies is being pursued, with a focus on partnerships with other companies in the seed industry [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about meeting aggressive sales targets for fiscal 2021, citing favorable market conditions and a strong management team [7][18] - The company is focused on improving gross margins and expects significant improvements in adjusted EBITDA in the coming quarters [35] Other Important Information - The company has made progress in reducing inventory levels, with a nearly 10% decrease in total inventory compared to the previous year [36] - Alfalfa inventory has decreased by approximately $17 million or 27% over the last 12 months, reflecting ongoing efforts to convert inventory to cash [38] Q&A Session Summary Question: Gross margin and inventory management - Management discussed the impact of lower-margin alfalfa sales and the ongoing efforts to reduce high-cost inventory, anticipating improved margins moving forward [46][54] Question: Positioning in Australia and commodity prices - Management highlighted the strong agricultural economy in Australia, with high yields and good prices for protein products, indicating a positive outlook for the market [59] Question: Endpoint royalty business in Australia - Revenue from endpoint royalties is recognized when the wheat is sold to end-use customers, which can take several years after introduction [64] Question: Sunflower business ramp-up - The sunflower business is in the early stages, focusing on oil seed production, with expectations of reaching $5 million to $6 million in sales over the next three years [73]

S&W Seed Company (NASDAQ:SANW) Q4 2020 Earnings Conference Call September 23, 2020 11:00 AM ET Â Â Company Participants Robert Blum - IR, Lytham Partners Mark Wong - President and Chief Executive Officer Matthew Szot - Executive Vice President and Chief Financial Officer Conference Call Participants Sarkis Sherbetchyan - B. Riley & Co. Ben Klieve - National Securities Corporation Gerry Sweeney - ROTH Capital Partners Operator Good day, and welcome to the S&W Seed Company Reports Fourth Quarter and Fiscal Ye ...

S&W Seed Company (NASDAQ:SANW) Q3 2020 Earnings Conference Call May 14, 2020 11:00 AM ET Company Participants Robert Bloom - Lytham Partners Mark Wong - President & Chief Executive Officer Matthew Szot - Chief Financial Officer Conference Call Participants Sarkis Sherbetchyan - B. Riley Ben Klieve - National Securities Corporation Gerry Sweeney - Roth Capital Operator Good morning. Welcome to S&W Seed Company Third Quarter Fiscal Year 2020 Financial Results. All participants will be in listen-only mode. [Op ...