Rosario, Argentina
September 9, 2025

• Total revenues were $74.7 million in 4Q25 and $335.3 million in FY25
• FY25 results reflect challenging year amid ag sector headwinds and macro pressures in Argentina

Bioceres Crop Solutions Corp. (Bioceres) (NASDAQ: BIOX), a leader in the development and commercialization of productivity solutions designed to regenerate agricultural ecosystems while making crops more resilient to climate change, announced financial results for the fiscal fourth quarter ended June 30, 2025. Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards. All comparisons in this announcement are year-over-year (YoY), unless otherwise noted.

Financial & Business Highlights

• Total revenues were $74.7 million in 4Q25 and $335.3 million in FY25, down 40% and 28% YoY respectively, reflecting weaker demand in Argentina and lower HB4-related sales.

• Gross profit was $25.2 million in 4Q25 and $131.7 million in FY25, down 47% and 29% YoY. While quarterly results showed some volatility, full-year gross margin remained stable at 39%, supported by higher-value proprietary products.

• Operating loss was $14.9 million for the quarter, net loss was $48.0 million and Adjusted EBITDA 1 was negative $4.5 million. For FY25, operating loss was $3.7 million, net loss was $55.2 million and Adjusted EBITDA 1 was $28.3 million.

• Net cash flow generated by operating activities reached $29.9 million in 4Q25, and $53.0 million in FY25, a 27% YoY increase from FY24, despite the decline in profitability, as the Company continued to prioritize efficiencies in working capital management and cash generation.

Management Review

Mr. Federico Trucco, Bioceres' Chief Executive Officer, commented: “We are reporting a disappointing final quarter to an extremely challenging fiscal year. Our results this quarter were significantly impacted by the shift in our seed business strategy, which alone accounted for close to half of the gross margin decline. While this impact was anticipated and carries positive implications for our business going forward, the persistent slowdown in Argentina and a higher-than-normal level of impairments also weighed on performance. We believe many of these effects are transitory and expect conditions to normalize in the coming months.

In response, we have accelerated adjustments to our cost structure, targeting operating expense savings of around 10-12%. We have also reduced our rate of incremental CAPEX and R&D investment by 50%, lowering it from nearly 6% of sales to between 2.5% and 3% for fiscal years 2026 and 2027. Importantly, we do not expect this slower pace of investment to affect near-term growth, as we already have the key registrations and manufacturing capacity in place to deliver on our three-year plan. At the same time, we will continue to adjust our working capital levels to better reflect our current business model and product mix, aiming to maintain them at approximately four to five months of sales.

Finally, we have taken steps to comply with our financial obligations and strengthen governance. We amended our note purchase agreements and outstanding notes, extending the convertible note maturities under new terms, and made related changes to our Board composition. As previously announced, we are also making changes to our leadership team to best support our financial and commercial priorities moving forward. With Enrique Lopez Lecube’s departure, we are searching for a new CFO, as well as re-engineering the CCO role.”

Key Financial Metrics

4Q25 & FY25 Summary: Quarterly revenues were $74.7 million, a 40% year-over-year decline, reflecting weaker demand in Argentina across Crop Protection and Crop Nutrition, and a lower contribution from HB4-related sales. Despite the contraction in Argentina, international markets remained resilient, supported by bio-protection products and adjuvant sales. Gross profit was $25.2 million, down 47%, reflecting the same revenue dynamics. A less favorable product mix and temporary margin pressure in certain categories resulted in a gross margin contraction from 38% to 34%. Operating profit was negative $14.9 million, net loss was $48.0 million and Adjusted EBITDA1 was negative $4.5 million.

For the full fiscal year, revenues totaled $335.3 million, down 28% from FY24. After a strong multi-year growth trajectory, FY25 was impacted by severe challenges in Argentina, one of the Company’s key markets, driven by: (i) extraordinary prior-year sales linked to peso devaluation, which led channels to accumulate inventories beyond short-term needs, (ii) weaker on-farm economics, and (iii) tightening financing across the agricultural sector. Revenues were also pressured in the Seeds segment, due to the transition of the HB4 business model. Gross profit for the year was $131.7 million, a 29% decline, reflecting lower sales across segments. Despite this contraction, gross margin remained broadly stable at 39%, supported by higher-value proprietary products where the company retained market share and achieved modest gains in other markets. Operating loss was $3.7 million, net loss was $55.2 million, and Adjusted EBITDA1 was $28.3 million, mainly reflecting the sharp drop in gross profit.

The Company continued to prioritize working capital efficiencies and adapt its cost structure to current market conditions. Net cash flow from operating activities reached $29.9 million in 4Q25, up 28% year-over-year, and $53.0 million for the full year, up 27%. These results were achieved despite a significant year-over-year decline in profitability, underscoring the Company’s focus on cash discipline.

For a full version of Bioceres’ fourth quarter and full fiscal year 2025 earnings release, click here.

Website: https://investors.biocerescrops.com/home/default.aspx

Published: September 9, 2025