Financial Data and Key Metrics Changes - In Q4 2025, the company reported revenues of $74.7 million, a 40% decline year-over-year, primarily due to the winding down of the seed business and reduced demand for crop inputs in Argentina [6][8][9] - For the full fiscal year, revenues totaled $335.3 million, down 28% year-over-year, with declines across all segments [8][12] - Adjusted EBITDA for Q4 was -$4.5 million, down from $19.9 million the previous year, largely due to a $22.7 million reduction in gross profit [13][15] - Full-year EBITDA was $28.3 million, down from $81.4 million in FY24, reflecting a $54.6 million decline in gross profit [15][18] Business Line Data and Key Metrics Changes - In the seed segment, revenues were $63.9 million for the year, a reduction of 34%, attributed to the transition to a royalty-based model [9][12] - Crop protection revenues for the full year were $181.9 million, down 20%, with a strong decline in Argentina offsetting growth in bioprotection in the U.S. and adjuvants in Brazil [8][12] - Crop nutrition revenues were $89.5 million, down 37% year-over-year, driven by lower microbiota fertilizer sales in Argentina [8][12] Market Data and Key Metrics Changes - International sales of core technologies grew, with adjuvant sales in Brazil almost doubling and bioprotection products in the U.S. growing nearly 40% [7] - The company experienced a significant decline in sales in Argentina due to adverse on-farm economics and reduced spending on agricultural inputs [5][6] Company Strategy and Development Direction - The company is focusing on cash generation and improving working capital management, targeting a running rate of five to six months of sales [19][20] - Cost structure adjustments are being accelerated, with targeted operating expense savings of around 10%-12% [19][20] - The company aims to scale up biological initiatives and support key partners in Latin America while onboarding new partnerships in the U.S. and Australia [21][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in fiscal 2025, primarily due to macroeconomic shifts in Argentina and a lack of inventory incentives for clients [4][5] - The company expects to improve EBITDA margins and progress towards a more robust balance sheet with a normalized agricultural input market in Argentina and continued growth in the U.S. and Brazil [20][21] - Management emphasized the importance of cash generation and profitability expansion over top-line growth in the current environment [25][26] Other Important Information - Total financial debt stood at $255.5 million, slightly lower than the previous year, with cash and equivalents totaling $34.6 million [17][18] - The company is working closely with creditors to comply with financial obligations and manage upcoming debt maturities [20] Q&A Session Summary Question: What metrics should be focused on in the next six to nine months? - Management indicated that cash generation and profitability expansion will be key metrics, with less emphasis on top-line growth under current circumstances [25][26] Question: Can you elaborate on cost savings initiatives? - Management expects to achieve quarterly savings of $3 million-$3.5 million through workforce streamlining and right-sizing capacities [29][31] Question: What was the gross profit from the Syngenta agreement in FY2025? - The gross profit from the Syngenta agreement for FY2025 was approximately $18 million, down from $16 million in the previous year [35][37] Question: What efforts have been made regarding the HB4 product? - Management highlighted a key agreement in soybeans to reposition HB4 technology, which is expected to generate revenues in the upcoming fiscal year [43][44] Question: What is the current state of inventories in the channel? - Management noted that inventory levels in Argentina have been almost depleted, indicating a potential recovery in sales [62][63]