Bioceres reports stable fourth-quarter revenue as cost cuts return EBITDA to positive

Bioceres Crop Solutions reported fourth-quarter revenue of $55.9 million, broadly unchanged from a year earlier, as stronger Crop Nutrition sales offset declines in Crop Protection and Seed and Integrated Products.

For the full fiscal year ended June 30, revenue from continuing operations fell 18% to $238.3 million. Bioceres said about half of the decline was linked to the reconfiguration of its Seeds business and the resulting reduction in HB4-related activities. Crop Protection revenue fell 16% to $123.7 million, while Seed and Integrated Products revenue dropped 41% to $37.7 million. Crop Nutrition revenue was relatively stable at $77 million for the year, despite a 36% increase to $23.5 million in the fourth quarter.

The company cut operating expenses by 20% to $82.3 million in fiscal 2026, including a 24% reduction in SG&A expenses. In the fourth quarter, SG&A fell 19% year over year. Adjusted EBITDA improved to $0.6 million from a loss of $9.6 million a year earlier, although full-year Adjusted EBITDA declined to $25.5 million from $28.9 million. Net loss from continuing operations was $54.4 million for the year, compared with $49.1 million in fiscal 2025.

Bioceres focuses on portfolio restructuring and liquidity

Bioceres said it has substantially completed a nearly two-year reconfiguration of its Seeds business and has conducted an external strategic assessment of its continuing operations. The company plans to rationalize its product portfolio and go-to-market channels, review commercial policies and strategic relationships, and align research, development and regulatory investments with financial objectives.

CEO Federico Trucco said the cost reductions and operating changes had begun to improve the profitability of several core product categories, although the company said the benefits were not yet fully reflected in reported gross margins.

The company also continues to face financial and legal challenges. Its Pro Farm Group business was subject to a foreclosure auction in January 2026 and has been classified as discontinued operations for accounting purposes. Bioceres disputes the acceleration of the relevant notes and the foreclosure process, which remain subject to legal proceedings.

At June 30, 2026, Bioceres had $11.2 million in cash and cash equivalents, down from $32.7 million a year earlier. Total liabilities stood at $407.2 million, compared with $468.4 million at the end of fiscal 2025. The company said its priorities for fiscal 2027 include improving cash generation, maintaining cost and working-capital discipline, and addressing its capital structure and liquidity position.