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Boa Safra Sementes (SOJA3) investor relations material
Boa Safra Sementes Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record gross operating revenue of R$1.2 billion in Q3 2025, up 58% year-over-year, driven by strong soybean seed shipments and diversified crop portfolio, despite challenging agribusiness and climate conditions.
Net operating income rose 56% year-over-year in Q3 2025 to R$1,131 million, with LTM net operating income up 36% to R$2,344 million.
Expanded customer base and market share, now present in more regions and with a diversified portfolio across multiple brands and channels.
Maintained operational resilience with a 94% average germination rate for soybean seeds for the fourth consecutive year.
Inventory and order backlog reached record highs, positioning for a robust Q4 and positive outlook for 2026.
Financial highlights
Gross operating revenue for Q3 2025 was R$1,862 million, up 58% year-over-year, with net operating revenue rising 55% to R$1.1 billion.
Gross profit increased by 51% to R$148 million in Q3 2025, with gross margin stable at 13%.
Adjusted EBITDA for the quarter reached R$114 million, up 54% year-over-year, with margin at 10%.
Net income rose 26% year-over-year to R$68 million in Q3 2025; LTM net income was R$190 million, down 35% from the previous year.
Inventory levels up nearly 30% year-over-year, with Q3 inventory at $625 million.
Outlook and guidance
Q4 2025 expected to be stronger than Q3, with high inventory and backlog supporting further sales growth and strategic shipments aligned with the soybean planting schedule.
2026 anticipated to be a more normalized year, with improved margins and working capital efficiency as market excess inventory declines.
Focus shifting from rapid expansion to efficiency and disciplined capital allocation, prioritizing profitability over growth.
Portfolio diversification continues, with revenue from new crops and services reaching R$1,008 million in 9M25.
Focus remains on converting a robust order backlog into revenue, leveraging diversified crop offerings and operational efficiency.
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