Bioceres Crop Solutions (BIOX) Q3 2026 earnings summary

Executive summary

• Revenues declined 23% year-over-year to $39.4 million in Q3 2026, reflecting softer demand in Crop Protection and a transition in Seeds, while Crop Nutrition revenues rose 15%.

• Gross profit was $12.7 million with a 32% margin, impacted by lower revenues and a non-recurring obsolescence adjustment in Crop Nutrition.

• Net loss was $10.0 million, mainly due to lower gross profit and higher financial expenses, compared to a net profit of $2.3 million in the prior year.

• Pro Farm Group foreclosure in January 2026 led to a $179 million non-cash impairment loss, reclassification of assets as discontinued operations, and ongoing legal disputes.

• SG&A expenses declined 16% year-over-year due to cost management and organizational streamlining.

Financial highlights

• Gross profit dropped 30% year-over-year to $12.7 million; gross margin was 32%.

• Adjusted EBITDA was negative $0.6 million, down from $9.1 million in the prior year, impacted by non-recurring items.

• Net financial debt stood at $214 million as of March 31, 2026, stable sequentially.

• Total financial debt was $228.8 million at quarter end.

• SG&A expenses fell 16% year-over-year.

Outlook and guidance

• Management is focused on operational efficiency, working capital discipline, and liability management.

• Strategic review of continuing operations underway, including portfolio composition, legal entity simplification, and segment structure.

• Ongoing efforts to improve financial flexibility through debt reprofiling and bond maturity extensions.