Bioceres Crop Solutions Q1 FY2026 Results

Bioceres Crop Solutions Reports Fiscal First Quarter 2026 Financial and Operational Results

Bioceres Crop Solutions Corp. (NASDAQ: BIOX), a global leader in the development and commercialization of crop productivity solutions that promote regenerative agriculture and climate resilience, today announced its financial and operational results for the fiscal first quarter ended September 30, 2025. All figures are expressed in U.S. dollars and prepared in accordance with International Financial Reporting Standards (IFRS). All comparisons are made year-over-year (YoY), unless stated otherwise.

Financial and Business Highlights

• Total revenue was $77.5 million, representing a 17% decrease from $93.2 million in the same quarter last year. The decline reflects the company’s continued transition to a new seed model and a deliberate reduction of low-margin and working-capital-intensive sales.
• Gross profit was $36.2 million, down 3% YoY, while gross margin expanded significantly to 46.7%, compared to 40.2% in 1Q25. The improvement was driven by a more profitable product mix.
• Operating profit reached $7.1 million, up 200% YoY, reflecting strong margin expansion and cost control.
• Adjusted EBITDA increased 61% to $13.6 million, highlighting improved operational efficiency.
• Net loss was $7.5 million, compared to a loss of $6.2 million in 1Q25, mainly due to higher financial costs and tax accruals.
• Working capital improved both sequentially and year over year, despite typically high seasonal requirements during the first fiscal quarter.

Management Commentary

Bioceres CEO Federico Trucco stated:

This quarter demonstrates tangible progress on the priorities we outlined for the fiscal year — improving revenue quality, safeguarding margins, and maintaining cost discipline. Our profitability advanced as we continued to streamline operations and focus on higher-value products. Although Argentina remains a challenging market, we are beginning to see early signs of normalization. Across the company, our focus is on actions that strengthen our balance sheet and enhance financial flexibility. We remain committed to what we can control — improving margin quality, optimizing costs, and managing working capital — while positioning Bioceres for long-term growth and resilience.

Segment Performance

Crop Protection:
Revenue from the Crop Protection segment was $39.9 million, down 16% from $47.7 million in 1Q25. The decline reflects a planned reduction of low-margin product lines and timing effects in specific Latin American markets. Sales in Uruguay and neighboring regions were affected by the phasing of purchases, while demand in Argentina showed gradual improvement from last year’s weak levels.

Seed and Integrated Products:
Revenue from this segment totaled $12.6 million, down 37% from $19.8 million a year earlier. The decline was anticipated, following the company’s transition to a new seed model aimed at improving long-term profitability and capital efficiency. Despite lower short-term revenue, the segment continues to contribute to Bioceres’ sustainable growth strategy through a focus on higher-margin and technology-driven products.

Crop Nutrition:
Revenue for Crop Nutrition was $25.1 million, nearly flat compared to $25.7 million in 1Q25. The segment demonstrated resilience despite ongoing macroeconomic challenges in key markets, supported by stable demand for Bioceres’ bio-based and regenerative agricultural solutions.

Overall, Bioceres’ product mix continued to evolve toward higher-margin categories, offsetting part of the anticipated decline in top-line results.

Profitability and Margin Expansion

Bioceres achieved meaningful profitability improvements during the quarter. Gross profit declined slightly to $36.2 million, but gross margin expanded by 651 basis points, reaching 46.7%, compared to 40.2% in the prior-year quarter. The improvement was mainly driven by the elimination of lower-margin sales, restructuring actions, and enhanced operating leverage in higher-value product lines.

Operating expenses, including selling, general, and administrative (SG&A) costs, decreased materially year over year, reflecting the positive impact of restructuring and continued cost optimization. These efforts allowed operating profit to rise to $7.1 million, versus $2.4 million in 1Q25 — a 200% increase.

Adjusted EBITDA grew 61%, from $8.5 million to $13.6 million, underlining Bioceres’ ability to sustain strong operational performance even amid a lower revenue base.

Despite these operational gains, net loss widened to $7.5 million, primarily due to higher financial expenses and tax provisions. Management emphasized that the bottom-line loss does not reflect underlying business momentum, as operating cash flow and working capital metrics continued to strengthen.

Strategic and Operational Progress

Throughout the quarter, Bioceres advanced its strategy to enhance profitability, capital efficiency, and sustainability. The company continued to streamline its portfolio, focusing on core technologies that promote regenerative agriculture and improved resource use.

Operational discipline remained a key focus area. Working capital improvements were achieved despite seasonally higher inventory and receivable levels. The company’s ongoing cost-control initiatives contributed to stronger margins and better cash generation capacity.

In Argentina, conditions remained challenging due to inflationary pressures and limited credit availability. However, management noted early signs of stabilization and modest recovery in certain agricultural inputs. Bioceres continues to monitor macroeconomic developments closely while emphasizing flexibility and risk management.

Key Financial Metrics (in millions of U.S. dollars)

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