Bioceres Crop Solutions (BIOX) Q4 2026 earnings summary

Executive summary

• Fiscal 2026 was marked by ongoing litigation with creditors, business reconfiguration, and a focus on cost reduction and operational discipline.

• Revenues in 4Q26 were $55.9 million, stable year-over-year, with 36% growth in Crop Nutrition offsetting declines in Crop Protection and Seeds.

• FY26 revenues declined 18% to $238.3 million, mainly due to Seeds business reconfiguration and lower HB4-related activities.

• Net loss from continuing operations improved to $31.8 million in 4Q26 from $54.4 million in 4Q25; FY26 net loss was $54.4 million versus $49.1 million in FY25.

• Adjusted EBITDA improved to $0.6 million in 4Q26 from negative $9.6 million in 4Q25; FY26 Adjusted EBITDA was $25.5 million, down from $28.9 million in FY25.

Financial highlights

• Fourth quarter revenues were $55.9 million, up 1% year-over-year; FY26 revenues were $238.3 million, down 18%.

• Fourth quarter gross profit was $12.7 million (down 6%), with a gross margin of 22.8%; full year gross profit was $82.9 million (down 21%), with a gross margin of 34.8%.

• SG&A expenses declined by 19% in 4Q26 and by 24% in FY26, reflecting cost actions.

• Operating expenses for FY26 were $82.3 million, down from $103.2 million in FY25.

• Total financial results were negative $20.3 million in 4Q26 and negative $50.9 million in FY26, both improved year-over-year.

Outlook and guidance

• Targeting about 40% gross margins for FY27 and beyond by focusing on higher quality core revenue streams and simplifying the product portfolio.

• SG&A metrics targeted for further improvement, with variable SG&A to remain at 6% and fixed SG&A to decrease to 19% in FY27.

• Management will focus on improving performance, cash generation, cost and working capital discipline, and addressing capital structure and liquidity.

• Plans to exit or monetize non-core assets and expand gross profit.

• Strategic assessment completed, with plans to rationalize portfolio, revisit commercial policies, and align R&D investments with financial objectives.