Bioceres Crop : 3Q26 Earnings Presentation

Published: 2026-05-11 19:20:09 ET BIOX

Published on 05/11/2026 at 07:20 pm EDT

Fiscal Third Quarter 2026

May 2026

BIOCERES CROP SOLUTIONS

Key Business & Financial Highlights

Total revenues were $39.4 million in 3Q26, a 23% year-over-year decline, reflecting softer demand and competitive pressures in Crop Protection, together with the ongoing transition in Seeds. Crop Nutrition revenues increased 15% during the quarter.

Gross profit was $12.7 million, with gross margin of 32%, reflecting lower revenues and product mix effects across segments. Crop Nutrition results were impacted by a non-recurring obsolescence adjustment in inoculants related to inventory normalization efforts.

SG&A expenses declined 16% year over year, reflecting continued execution of organizational streamlining and cost management initiatives across the continuing operations.

Net loss was $10.0 million and Adjusted EBITDA1 was $(0.6) million, primarily reflecting lower gross profit and the absence of prior-year non-cash income associated with the reorganization in Seeds.

Following the Pro Farm foreclosure auction earlier this year, the Company continued advancing liability management initiatives across its operating subsidiaries, including debt reprofiling efforts and a voluntary bond maturity extension process in Argentina.

1. Please refer to "Use of non-IFRS financial information" for information our use of Adjusted EBITDA and its reconciliation from the most comparable financial measure.

THIRD QUARTER 2026

Counterclaims and third-party claims include breach of contract, breach of fiduciary duties, fraudulent inducement, and others

Chief Financial Officer

Executive with nearly 20 years of experience in agribusiness and commodities across South America

Former senior finance and operational executive at CHS Inc. and Monsanto

Broad expertise across finance leadership, treasury, operational excellence, and business transformation

Holds an Executive MBA from IAE Business School and an Industrial Engineering degree from Instituto Tecnológico de Buenos Aires (ITBA)

($ Million)

Net assets reclassified as subject to foreclosure

194.0

Consideration offered from noteholders

(15.0)

Net loss from foreclosure

179.0

$179.0 million

Working capital reduction was $16.5 million

PP&E reduction was $12.2 million

Intangibles reduction was $165.2 million

Total liabilities reduction was $27.4 million

3Q26

($ Million)

3.2

-71%

Revenue Bridge

($ Million)

51.1

(5.5)

(7.7)

1.5

39.4

Total Revenue

39.4

- 23% YoY

11.6

15%

24.6

-18%

Crop Protection

3Q25

Crop

Protection

Seeds

Crop

Nutrition

3Q26

Crop Nutrition

Seed & Integrated Products

Key Drivers

Crop Protection affected by softer

demand dynamics and competitive pressures

Seeds performance reflects lower seed and grain sales during ongoing portfolio transition

Crop Nutrition growth driven by microbeaded fertilizers

Quarterly performance reflects market headwinds and portfolio transition effects

3Q26

3Q26 Gross Profit Bridge

($ Million)

1.0

-54%

18.1

(2.4)

(1.1)

(1.9)

Gross Profit

12.7

- 30% YoY

12.7

3.1

-38%

8.7

-22%

Crop Protection

3Q25

Crop

Protection

Seeds

Crop

Nutrition

3Q26

Crop Nutrition

Seed & Integrated Products

35%

Gross margin

32%

Key Drivers

Gross profit performance reflected lower

revenues, product mix effects and inoculants obsolescence adjustments

Crop Protection margin impacted by lower adjuvant participation within product mix

Seeds gross margin expanded on improved mix and higher contribution from seed treatment packs

Crop Nutrition performance impacted by a non-recurring inoculants obsolescence adjustment

Excluding the inoculants adjustment, underlying gross margin performance remained broadly stable year over year

3Q26 Adjusted EBITDA1

Underlying Adj. EBITDA1 performance reflected lower gross profit, partially offset by continued operating expense reductions and improved JV results

Please refer to "Use of non-IFRS financial information" for information regarding our use of Adjusted EBITDA and its reconciliation from the most comparable financial measure.

Gross profit and operating expenses excluding D&A, stock-based compensation and transaction expenses.

3Q26

($ Million)

9.1

(5.8)

1.4

(8.0)

2.7

Adj. EBITDA1

3Q25

Gross Profit2

Opex

JV results

Other income or

expenses

(0.6)

Adj. EBITDA1 3Q26

2Q26

3Q26

($ Million)

Net Debt

8.1x 12.7x

Adj. EBITDA1 Adj. EBITDA1

216.0

214.0

194.4

174.7

34.2

12.6

54.1

14.8

Balance Sheet & Cash Position

Total Financial Debt remained broadly stable quarter over quarter at $228.8 million

Management continued advancing liability management initiatives, including bank debt reprofiling discussions and local bond maturity extension efforts in Argentina

Net Financial Debt remained stable at

$214.0 million, reflecting continued focus on working capital discipline and cash management

Please refer to "Use of non-IFRS financial information" for information regarding our use of

Adjusted EBITDA and its reconciliation from the most comparable financial measure.

Cash & Equivalents include other cash management short-term investments.

Ongoing Strategic and Operational Initiatives

Strategic review of continuing operations

Assessment of portfolio composition, legal entity simplification, segment structure, tax efficiency and long-term strategic fit across businesses.

External advisor retained to support strategic planning and organizational review, leveraging deep industry and operating experience.

Internal risk, governance and compliance processes

External review of all internal risk, governance and compliance processes.

Focus on strengthening controls, oversight and Board-level reporting frameworks.

Rizobacter debt reprofiling

Process under way, with significant progress achieved to date.

Includes voluntary extension discussions with bondholders and continued coordination with key banking partners to improve maturity profile and financial flexibility.

Focus on operational discipline, simplification and preservation of long-term strategic value across the platform

Exhibits

Unaudited Consolidated Statement of

Revenues from contracts with customers

Initial recognition and changes in the fair value of biological assets at the point of harvest Cost of sales

38.2

1.2

(26.7)

50.1

1.0

(33.0)

Gross profit

12.7

18.1

% Gross profit

32%

35%

Operating expenses

(18.0)

(21.3)

Share of profit of JV

0.5

(0.9)

Continuing operations

Three-month period ended 03/31/2026

Three-month period ended 03/31/2025

Other income or expenses, net 0.7 8.8

Operating profit (4.3) 4.3

Financial result (9.7) (5.6)

Profit/(loss) before income tax (14.1) (1.2)

Income tax 4.0 3.6

Profit/(loss) for the period from continuing operations (10.0) 2.3

Discontinued operations

Loss for the period from discontinued operations

- (3.9)

Loss for the period from discontinued operations - (3.9)

Other comprehensive profit/loss 0.3 (0.8)

Total comprehensive profit/(loss) (9.7) (2.4)

Profit/(loss) for the period of continuing operations attributable to

Equity holders of the parent

Non-controlling interests

(9.0) 2.6

(1.1) (0.3)

(10.0) 2.3

Comprehensive Income

Change in net realizable value of agricultural products (0.2) (0.2)

Weighted average number of shares

Basic

63.6

62.8

Diluted

63.6

62.8

ASSETS

31/03/2026

CURRENT ASSETS

Cash and cash equivalents

14.4

Other financial assets

0.5

Trade receivables

136.3

Other receivables

13.0

Recoverable income tax

1.4

Inventories

48.4

Biological assets

4.4

Assets subject to foreclosure

42.4

Total current assets

260.7

NON-CURRENT ASSETS

Other financial assets

0.0

Trade receivables

4.8

Other receivables

25.7

Recoverable income tax

0.0

Deferred tax assets

6.5

Investments in joint ventures and

associates

40.6

Investment properties

Property, plant and equipment

60.0

Intangible assets

83.9

Goodwill

36.1

Right of use asset

11.4

Total non-current assets

268.9

Total assets 529.6

30/06/2025

32.7

2.0

165.9

15.9

1.9

87.6

2.4

308.3

0.0

2.5

23.7

0.0

4.9

39.4

0.6

74.6

181.2

112.2

16.4

455.3

763.6

Unaudited Consolidated Statement of Financial Position

LIABILITIES

31/03/2026

CURRENT LIABILITIES

Trade and other payables

79.6

Borrowings

66.4

Employee benefits and social security

3.6

Deferred revenue and advances from

customers

2.8

Income tax payable

4.8

Consideration for acquisition

2.1

Secured notes

108.3

Lease liabilities

2.6

Liabilities subject to foreclosure

27.4

Total current liabilities

297.5

NON-CURRENT LIABILITIES

Trade and other payables

46.2

Borrowings

54.1

Deferred revenue and advances from

customers

1.4

Joint ventures and associates

0.7

Deferred tax liabilities

24.3

Provisions

1.0

Consideration for acquisition

0.0

Secured notes

Lease liabilities

8.6

Total non-current liabilities

136.4

Total liabilities

433.9

EQUITY

Equity attributable to owners of the parent

67.7

Non-controlling interest

27.9

Total equity

95.7

Total equity and liabilities

529.6

30/06/2025

96.4

119.7

6.2

4.3

0.5

1.8

102.3

6.9

338.0

48.5

38.2

1.4

1.0

30.1

1.3

0.4

9.5

130.4

468.4

265.4

29.8

295.2

763.6

Non-IFRS Financial Measures

Adjusted EBITDA

The company defines adjusted EBITDA as net income/(loss) exclusive of financial income/(costs), income tax benefit/(expense), depreciation, amortization, share-based compensation, and one-time transactional expenses.

Management believes that adjusted EBITDA provides useful supplemental information to investors about the company and its results. Adjusted EBITDA is among the measures used by the management team to evaluate the company's financial and operating performance and make day-to-day financial and operating decisions. In addition, adjusted EBITDA and similarly titled measures are frequently used by competitors, rating agencies, securities analysts, investors and other parties to evaluate companies in the same industry. Management also believes that adjusted EBITDA is helpful to investors because it provides additional information about trends in the company's core operating performance prior to considering the impact of capital structure, depreciation, amortization and taxation on results. Adjusted EBITDA should not be considered in isolation or as a substitute for other measures of financial performance reported in accordance with IFRS. Adjusted EBITDA has limitations as an analytical tool, including:

Adjusted EBITDA does not reflect changes in, including cash requirements for working capital needs or contractual commitments.

Adjusted EBITDA does not reflect financial expenses, or the cash requirements to service interest or principal payments on indebtedness, or interest income or other financial income.

Adjusted EBITDA does not reflect income tax expense or the cash

requirements to pay income taxes.

Although depreciation and amortization are non-cash charges, the assets being depreciated or amortized often will need to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for these replacements.

Although share-based compensation is a non-cash charge, adjusted EBITDA does not consider the potentially dilutive impact of share-based compensation.

Other companies may calculate adjusted EBITDA and similarly titled

measures differently, limiting its usefulness as a comparative measure.

The company compensates for the inherent limitations associated with using adjusted EBITDA through disclosure of these limitations, presentation in the combined financial statements in accordance with IFRS and reconciliation of adjusted EBITDA to the most directly comparable IFRS measure, income/(loss) for the period or year.

Adjusted EBITDA reconciliation from Profit/(Loss) for the period

($ Million)

3Q25

3Q26

Profit/(loss) for the period

2.3

(10.0)

Income tax

(3.6)

(4.0)

Financial results

5.6

9.7

D&A

3.8

3.4

Stock-based compensation charges

0.9

0.1

Transaction expenses

0.3

Adjusted EBITDA

9.1

(0.6)

Disclaimer

Bioceres Crop Solutions Corp. published this content on May 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 11, 2026 at 23:19 UTC.