Vittia (VITT3) Q2 2026 earnings summary

Executive summary

• Net revenue reached R$114.0 million in 2Q26, up 15.1% year-over-year, driven by a 34.5% increase in Biological and Natural Solutions despite sector headwinds.

• Adjusted EBITDA was negative at R$16.8 million in 2Q26, an improvement from negative R$20.8 million in 2Q25; 1H26 adjusted EBITDA was negative R$17.4 million.

• Cash generation from operating activities totaled R$102.6 million in 1H26, up 42.3% year-over-year, reducing net debt to R$96.4 million and leverage to 0.86x Adjusted EBITDA.

• The company maintained disciplined cost control, continued investments in R&D and strategic launches, and focused capital allocation on growth, financial strength, and shareholder returns.

Financial highlights

• Net revenue: R$114.0 million in 2Q26 (+15.1% YoY); R$236.0 million in 1H26 (-0.4% YoY).

• Adjusted EBITDA: -R$16.8 million in 2Q26 (vs. -R$20.8 million in 2Q25); -R$17.4 million in 1H26 (vs. -R$13.9 million in 1H25).

• Adjusted net loss: -R$17.4 million in 2Q26 (vs. -R$21.2 million in 2Q25); -R$23.3 million in 1H26 (vs. -R$23.1 million in 1H25).

• Gross margin: 15.5% in 2Q26 (+1.2 p.p. YoY); 22.4% in 1H26 (-1.3 p.p. YoY).

• SG&A expenses in 1H26 were R$89.3 million, 37.9% of net revenue, up 0.3 p.p. from 1H25.

Outlook and guidance

• Management remains cautious for 2H26, monitoring credit conditions, commodity prices, crop negotiations, and the geopolitical environment.

• The company is confident in the fundamentals of Brazilian agribusiness and the potential for expansion in biological technologies and specialty plant nutrition.

• Climate uncertainty due to potential El Niño increases productivity risks for the 2026/27 crop season.

• Four new products launched in 2026, with two more biologicals scheduled.