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Edible Garden Estimates Over 25% Year-Over-Year Increase in Preliminary Herb Sales During Easter Holiday Period
Globenewswire· 2025-05-28 11:30
Core Insights - The company estimates a more than 25% year-over-year increase in preliminary herb sales during the Easter holiday period [1] - Strong performance was recorded across core herb categories, with the Poultry Mix playing a significant role in growth [2] - The CEO emphasized the alignment with evolving consumer preferences for fresh, organic, and sustainable ingredients [3] Sales Performance - Hydroponic herbs increased an estimated 31%, driven by promotional support and expanded retailer placement [5] - Cut herbs rose an estimated 22%, reflecting consistent consumer preference for fresh, high-integrity ingredients [5] - Potted herbs grew an estimated 18%, supported by targeted merchandising and the availability of the Poultry Mix [5] Company Overview - Edible Garden AG Incorporated is a leader in controlled environment agriculture (CEA) and operates over 5,000 retail locations [4] - The company utilizes patented technologies such as GreenThumb software and Self-Watering displays to enhance product quality and sustainability [4] - Edible Garden is recognized as a FoodTech 500 company and is a member of Walmart's Project Gigaton sustainability initiative [4]
Bioceres Crop Solutions (BIOX) - 2025 Q3 - Earnings Call Transcript
2025-05-21 13:32
Financial Data and Key Metrics Changes - Total revenues for the quarter were $60.6 million, down from $84 million in the same period last year, primarily due to the absence of a $16 million accrual from Syngenta's initial down payment [9][10] - Gross profit for the quarter totaled approximately $24 million, compared to $42.6 million last year, with a gross margin decline from 51% to 39% attributed to the previous year's Syngenta accrual [13][14] - Adjusted EBITDA was $9 million, down from $21.1 million last year, reflecting the impact of the Syngenta down payment accrual [16] Business Line Data and Key Metrics Changes - Crop Protection revenues decreased due to lower sales of non-core products in Argentina, partially offset by higher sales of bioprotection solutions [13] - Integrated Products revenues increased by 26%, driven by accelerated sales of HB4 grain from existing inventory [13] - Crop attrition was influenced by the Syngenta payment effect, but underlying operational inoculant sales were up, slightly offset by Argentine seasonality effects on fertilizers [13] Market Data and Key Metrics Changes - The Argentine market showed reduced commercial activity, with purchasing behavior becoming more aligned with the agronomic calendar rather than speculative patterns [10] - The U.S. and Mexico markets exhibited good growth, indicating early signs of recovery, while Brazil remained in a low season with positive sentiment due to improved soybean prices [11][12] - Overall, the performance in Argentina was not indicative of market status, with expectations for better conditions in the upcoming summer crop season [11] Company Strategy and Development Direction - The company is transitioning to a more sustainable agricultural model, focusing on cash flow performance and working capital management [6][20] - The approval of Rhinotech is expected to enhance the company's product offerings in pest control and plant health, targeting both cash and row crops [6][27] - The company aims to improve profitability through a better product mix and is focusing on scaling its biological solutions across key markets [34] Management's Comments on Operating Environment and Future Outlook - Management noted that the agricultural industry is stabilizing after a rough couple of years, with signs of normalization in some markets [9][10] - The sentiment in Argentina is slowly improving, with expectations for a healthy winter crop season, although recovery from a challenging year is still uncertain [48][50] - The company is optimistic about the future, particularly with the introduction of Rhinotech and the ongoing recovery in key markets [34][56] Other Important Information - The company achieved a $40.7 million improvement in cash from operating activities compared to the previous year, with a focus on working capital efficiency [18][19] - Total debt decreased by $13 million, reflecting improved cash management and working capital strategies [21] Q&A Session Summary Question: Inquiry about cash advancement and working capital unwind - Management indicated an expectation of an additional $10 million from the transition to a lighter model with HB4, aiming for a net working capital of four to four and a half months of sales [40][42] Question: Sentiment in Argentina and macroeconomic conditions - Management noted that sentiment is stabilizing, with expectations for a healthy winter crop season and no increase in export tax duties [48][49] Question: Impact of credit conditions in Brazil on customer purchasing - Management confirmed that they have not been affected by tightening credit conditions in Brazil, with positive sentiment due to soybean pricing [72][76] Question: Field trial results for Neovil product - Management stated that ongoing replicated third-party field trials are underway, with positive feedback from partners regarding the product's performance [86][88] Question: Interest in HB4 soybean and wheat traits from seed companies - Management confirmed ongoing collaboration with public and private institutions for HB4 wheat in the U.S., with a focus on Latin America for HB4 soybean [91][92]
Biotalys and AgroFresh Partner to Protect Fresh Produce
Globenewswire· 2025-05-20 05:00
Core Viewpoint - The collaboration between Biotalys and AgroFresh aims to develop sustainable biological fungicides to reduce food waste and enhance the freshness of produce, addressing the significant issue of post-harvest losses, which are estimated at 14% globally [1][2]. Group 1: Company Overview - Biotalys is an AgTech company focused on developing protein-based biocontrol solutions for sustainable crop protection, utilizing its AGROBODY™ technology platform [6][7]. - AgroFresh is a leader in post-harvest quality and freshness solutions, with over 40 years of experience in enhancing the shelf-life of fresh produce and reducing food loss [5]. Group 2: Market Context - The global post-harvest fungicide market is valued at $300 million, indicating a significant opportunity for Biotalys to expand its presence in this critical segment [3][4]. - Fungal decay poses a major challenge in the post-harvest supply chain, making effective disease management essential as fresh produce becomes more susceptible to spoilage after harvest [2]. Group 3: Collaboration Goals - The partnership between Biotalys and AgroFresh aims to innovate and provide environmentally friendly biological solutions that meet the evolving needs of global markets, ultimately helping to reduce food waste [3][2]. - The collaboration is expected to enhance the innovation pipeline of AgroFresh, introducing novel technologies that preserve freshness and support produce suppliers [2].
‘Travelogue of China 2025’ Inner Mongolia Tour Concludes, Highlighting Tech-Driven Growth and Global Cooperation
Globenewswire· 2025-05-19 08:07
Core Insights - The "Travelogue of China 2025" Inner Mongolia Tour emphasized the region's advancements in digital innovation, sustainable agriculture, and logistics development [2] Group 1: Digital Innovation - The tour showcased Inner Mongolia's emergence as a "cloud valley on the grasslands," highlighting its digital economy through landmarks like the Yungu Exploration Port and data centers [4] - Advanced technologies in pasture cultivation, smart farming, and intelligent manufacturing were observed at Yili's health valley and M·Grass, driving high-quality growth in animal husbandry [4] Group 2: Sustainable Agriculture - Agricultural innovation hubs such as the Cold-Tolerant Vegetable Academician Workstation and strawberry plant factories were visited, demonstrating Inner Mongolia's pioneering role in modern agriculture [4] - The region's focus on sustainable practices is evident in its agricultural initiatives, contributing to the overall growth of the sector [4] Group 3: Logistics Development - The Qisumu Logistics Park serves as an international hub for China-Europe freight trains and agro-product processing, attracting interest from foreign journalists regarding potential rail links [6] - The logistics network expansion is part of China's strategic planning, enhancing its global trade advantage [6] Group 4: Tourism Impact - The Wulanhada Volcano Geopark attracted 4.47 million tourists in 2024, generating RMB 3.73 billion in revenue and supporting thousands of local jobs, showcasing the region's tourism potential [5]
Edible Garden Reports Q1 2025 Financial Results and Provides Strategic Update
Globenewswire· 2025-05-15 11:30
Core Insights - Edible Garden AG Incorporated reported a strategic shift towards higher-margin, shelf-stable products, resulting in a 15% year-over-year growth in non-perishable revenue and a nearly fourfold increase in gross profit compared to the previous year [1][3][8]. Financial Performance - For the quarter ended March 31, 2025, total revenue was $2.7 million, a decrease of 13.2% from $3.1 million in the same quarter of 2024, primarily due to the exit from lower-margin floral and lettuce product lines [8]. - Gross profit increased to $88,000 from $23,000 in the prior year, representing an increase of approximately 283% year-over-year, with gross margin improving to 3.2% from 0.7% [9]. - The net loss for the quarter was $3.3 million, an improvement from a net loss of $4.0 million in the same period last year, driven by cost reductions and increased sales from higher-margin products [11]. Strategic Initiatives - The company is focusing on expanding its consumer-packaged goods (CPG) portfolio with brands like Kick. Sport Nutrition, Pickle Party, Squeezables, and Pulp®, which are gaining traction in the market [3][4]. - Edible Garden completed a $15.5 million acquisition of assets from NaturalShrimp Farms Inc., enhancing its R&D and warehousing capabilities, and securing patents for water treatment technologies to support sustainability efforts [3][8]. Market Positioning - The company is enhancing its national distribution footprint by launching and growing retail partnerships with major accounts such as Walmart and Stop & Shop, leveraging patented merchandising solutions [4][5]. - Edible Garden maintains a U.S.-focused production model, with over 90% of its operations based domestically, minimizing exposure to global tariffs and disruptions [6][7]. Product Development - The company is actively reshaping its product mix by phasing out less profitable SKUs and focusing on higher-margin, less commoditized offerings, which has led to a 13% seasonal growth in cut herbs [3][8].
Verde Announces Q1 2025 Results
Globenewswire· 2025-05-15 11:00
Core Insights - Verde AgriTech Ltd reported a significant decline in sales and revenue for Q1 2025, primarily due to the ongoing crisis in Brazil's agricultural sector, which has affected product deliveries and market conditions [2][10][23]. Financial Performance - In Q1 2025, Verde's sales volume was 48,000 tons, a 44% decrease compared to Q1 2024, with revenue dropping to $2.9 million, also a 44% decline [8][25]. - The average revenue per ton sold decreased slightly to $59, while the average production cost per ton fell by 21% to $16, resulting in a gross profit margin of 73% [21][26]. - The net loss for Q1 2025 was $3.8 million, an improvement from a $4.8 million loss in Q1 2024, attributed to reduced non-cash expenses related to stock options [25]. Market Conditions - The Brazilian agricultural sector continues to face financial difficulties, with restricted access to credit and high debt levels among producers, leading to a conservative sales approach by Verde [10][12]. - Potash prices remained stable with an upward trend, indicating potential recovery in credit availability and commercial activity [11][14]. - The Selic rate, a key interest rate in Brazil, was at 14.75% at the end of Q1 2025, contributing to high financing costs and limiting investments in the agricultural sector [13]. Operational Highlights - Verde's installed capacity allows it to supply approximately 4% of Brazil's potash demand, highlighting the growth opportunity in a market valued at over $6 billion annually [4]. - The company has approved and delivered volumes equivalent to over 70% of the total delivered throughout 2024, with confirmed orders in 2025 being 40% higher than the same period in 2024 [3]. Debt Restructuring - Verde secured court approval for a debt renegotiation agreement, with approximately 92% of creditors agreeing to extended repayment terms of up to 126 months and reduced interest rates [8][9]. - The total restructured loan amount is approximately C$42.4 million, following a 75% reduction in principal obligations for certain debts [46]. Environmental Impact - Verde's products have the potential to capture up to 5,730 tons of CO2 through Enhanced Rock Weathering, with a total potential impact of 306,165 tons of CO2 since production began in 2018 [8][60].
Village Farms International Takes Top Honors at the 2025 Stevie® Awards
GlobeNewswire News Room· 2025-04-28 11:00
Core Insights - Village Farms International, Inc. has won two Gold Stevie® Awards and one Bronze Stevie® Award at the 23rd Annual American Business Awards® for its achievements in sustainable business models and international expansion [1][2][5]. Group 1: Awards and Recognition - The company received the Gold Stevie Award for Lifetime Achievement in the Consumer Products Industries, recognizing the visionary leadership of its CEO, Michael A. DeGiglio, in controlled environment agriculture and the cannabis sector [3]. - Village Farms was awarded the Gold Stevie for Sustainable Business Models, highlighting its commitment to environmentally responsible agriculture, achieving 97% land savings and 86% water reduction, while reducing CO₂ emissions by approximately 475,000 metric tons annually [4]. - The Bronze Stevie Award for Achievement in International Expansion was given for the company's rapid scaling of global cannabis operations, including a 111% year-over-year increase in international medicinal cannabis sales [5]. Group 2: Company Overview - Village Farms operates as a vertically integrated supplier in controlled environment agriculture, focusing on high-value plant-based consumer packaged goods, and is a leading fresh produce supplier in North America [10]. - The company’s subsidiary, Pure Sunfarms, is one of the largest cannabis operations globally and a top-selling brand in Canada, while it also holds an 80% stake in Rose LifeScience, a cannabis products commercialization expert [11]. - Internationally, Village Farms is expanding its cannabis and CBD operations, exporting medical cannabis to markets such as Germany and Australia, and holds one of ten licenses to grow recreational cannabis in the Netherlands [12].
Verde Appoints Guilherme Medeiros as Chief Marketing Officer
Globenewswire· 2025-04-23 11:11
Core Insights - Verde AgriTech Ltd has appointed Guilherme Medeiros as Chief Marketing Officer, effective March 2025, to enhance its marketing strategies and brand visibility [1][3] - Mr. Medeiros has nearly a decade of experience in agribusiness, having held significant roles at Syngenta Biologicals, ICL, and Stoller, where he implemented innovative marketing strategies and demand generation initiatives [1][2] - The appointment is seen as a strategic move to support Verde's expansion in Brazil and globally, focusing on low-carbon solutions and customer engagement [3] Company Overview - Verde AgriTech is dedicated to advancing sustainable agriculture through the innovation of specialty multi-nutrient potassium fertilizers, aiming to increase agricultural productivity and enhance soil health [5] - The company utilizes proprietary technologies to develop solutions that address global challenges such as food security and climate change, with a commitment to carbon capture and eco-friendly fertilizers [5] Leadership Transition - The company expressed gratitude to Newton Nagumo, the previous CMO, for his contributions in shaping Verde's marketing strategy and will continue to support the company as a member of the Advisory Committee [4][5] - Mr. Medeiros's role will be pivotal in driving marketing innovation and supporting new product introductions, marking a turning point in Verde's journey [3]
Edible Garden Signs Exclusive Distribution Agreement with Midwest Retailer
Newsfilter· 2025-04-14 13:00
Core Insights - Edible Garden AG Incorporated has signed a two-year exclusive vendor supply agreement with Berkot's Super Foods to supply sustainably grown products across the Midwest [2][5] - The partnership aims to enhance product freshness and visibility through innovative merchandising solutions, including self-watering displays [4][5] - Edible Garden's commitment to sustainability and local produce is reinforced by this collaboration, which aligns with its growth strategy in the grocery retail sector [6] Company Overview - Edible Garden is a leader in controlled environment agriculture (CEA), focusing on locally grown, organic, and sustainable produce [2][7] - The company operates vertically integrated greenhouses and processing facilities in New Jersey and Michigan, with a network of contract growers [7] - Edible Garden's proprietary technologies include the GreenThumb software and patented self-watering displays, aimed at reducing food miles and enhancing shelf life [7] Product Offerings - The company will supply a variety of products, including fresh potted herbs, hydroponic basil, cut herbs, and the functional pickle product known as "Pickle Party" [3][5] - Edible Garden also offers a range of plant and whey protein powders, as well as fresh condiments like gourmet sauces and pickles [7]
Asia-Pacific Smart Farming Market Analysis and Forecast Report 2024-2034, with Focus on Kubota Corporation and Eruvaka Technologies
GlobeNewswire News Room· 2025-04-10 16:35
Market Overview - The Asia-Pacific smart farming market is projected to grow from $4.83 billion in 2024 to $29.87 billion by 2034, with a compound annual growth rate (CAGR) of 19.98% during the forecast period [1][11]. Market Drivers - The expansion of the APAC smart farming market is driven by the increasing need for sustainable agricultural practices, effective resource management, and the integration of advanced technologies such as IoT, AI, and robotics [2][3]. - Government programs and subsidies promoting the digitization of agriculture are significantly aiding market growth [4]. Market Applications - Smart farming applications in the region include crop monitoring, livestock management, irrigation automation, and farm management software, which utilize real-time data from sensors, drones, and satellite imagery to enhance decision-making [5]. Market Segmentation - The market is segmented by application, product type, and country, with key applications including precision farming, livestock monitoring, and aquaculture [10]. Key Players - Prominent companies in the Asia-Pacific smart farming market include KUBOTA Corporation and Eruvaka Technologies Pvt. Ltd [15][19]. Future Trends - The report highlights trends such as the impact of 5G technology and the use of LoRa Wide Area Network (LoRaWAN) in smart farming [16].