Vittia (VITT3) Q1 2026 earnings summary

Executive summary

• Net revenue for 1Q26 was R$121.9 million, down 11.5% year-over-year, reflecting a challenging agribusiness environment, lower producer profitability, and conservative input purchases.

• Adjusted EBITDA turned negative at R$0.6 million, reversing a positive R$6.9 million in 1Q25, mainly due to lower gross profit and higher SG&A as a percentage of revenue.

• Adjusted net loss reached R$5.4 million, a 175.9% increase in losses compared to 1Q25.

• Net debt decreased 19.9% year-over-year to R$174.4 million, with a leverage ratio of 1.62x Adjusted EBITDA.

• Celebrated 55 years, emphasizing sustainability, innovation, and expansion in biological solutions.

Financial highlights

• Gross profit dropped 16.2% year-over-year to R$35.2 million, with consolidated gross margin falling from 30.5% to 28.9%.

• Operating expenses rose 5.4% to R$47.3 million, with SG&A at 38.1% of net revenue, up 5.5 p.p. from 1Q25.

• Adjusted net profit margin was -4.8% in 1Q26, compared to -1.4% in 1Q25.

• Net financial result improved to R$2.1 million, up 316.8% year-over-year, driven by higher interest income and financial investments.

• Cash and cash equivalents at quarter-end were R$50.0 million, up 182.5% from 1Q25.

Outlook and guidance

• Management remains confident in medium- and long-term prospects for Brazilian agribusiness, despite a prolonged downturn.

• Focus remains on innovation, operational efficiency, and disciplined capital allocation to navigate volatility and sustain value generation.

• Ongoing investments in biologicals and inoculants plants are expected to enhance productivity and flexibility.

• Plans to launch 3-4 new products and strengthen the biological solutions portfolio in 2026.

• TRIUNFE product line expected to drive growth with strong market acceptance.