Core Company Initiatives - S&W Seed Company has implemented strategic initiatives to focus on its core U.S.-based operations, particularly its high-margin sorghum trait portfolio with Double Team, while aligning its cost structure for near-term profitability [1] - The company has closed a new $25 million revolving credit agreement with ABL OPCO LLC, replacing an existing facility with CIBC Bank USA [4] Financial Developments - MFP Partners L.P., S&W's largest shareholder, provided a letter of credit worth $13 million to support S&W's obligations under the new credit agreement, enhancing the company's borrowing capacity [10] - S&W repurchased 200,000 shares of its common stock from MFP in a private transaction, which were then retired and restored to authorized but unissued shares [7] Company Overview - Founded in 1980, S&W is a global multi-crop agricultural company based in Longmont, Colorado, aiming to be the preferred proprietary seed company supplying sorghum, forage, and specialty crop products [2] - S&W is a leader in sorghum seeds with strong research, development, production, and distribution capabilities, and has a commercial presence in proprietary alfalfa and sustainable biofuel feedstocks [2]

S&W Announces Fiscal 2024 Financial Results Company to host conference call and webcast today at 11:00 a.m. Eastern time to discuss the results Longmont, Colorado – November 1, 2024 – S&W Seed Company (Nasdaq: SANW) today announced financial results for the fiscal year ended June 30, 2024. Financial Highlights • Revenue for fiscal 2024 was $60.4 million, a 17.8% decrease compared to fiscal 2023. Double Team TM sorghum revenue was $10.9 million in fiscal 2024 compared to $6.5 million in fiscal 2023. • Gross ...

LONGMONT, Colo., Nov. 26, 2024 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) today announced it has filed its 10-Q for the three months ended September 30, 2024. S&W previously issued preliminary first quarter fiscal 2025 financial results on November 19, 2024. The financial results filed in the 10-Q are in line with the preliminary financial results previously released.In addition to the filing of the 10-Q, the Company announced yesterday that it has finalized the voluntary plan of administration, or VA, ...

Business Operations and Strategy - The company plans to launch two new traits for its sorghum products in fiscal 2025, including the second generation of Double Team and Prussic Acid Free[94]. - The company has adopted a new business model for private label customers, focusing on licensing products, which is expected to enhance revenue flexibility[94]. - The company experienced significant disruptions in its operations due to geopolitical events, including the military conflict in Ukraine and the import ban on alfalfa seed in Saudi Arabia[97]. - Revenue is primarily derived from proprietary seed varieties, with expectations that sorghum and alfalfa will continue to dominate sales in the coming years[98]. - The company anticipates fluctuations in product revenue due to customer order timing and global market instability[98]. - Research and development expenses are focused on high-value activities, including proprietary herbicide tolerance traits and improved forage products[101]. - The company is actively evaluating financing and strategic alternatives, including potential sales of assets or certain lines of business[115]. Financial Performance - Revenue for the three months ended September 30, 2024, was $8,309,476, a decrease of $2,447,871 or 22.8% compared to $10,757,347 in the same period of 2023[105]. - Gross profit decreased to $1,336,368, representing a gross profit margin of 16.1%, down from 25.3% in the prior year, reflecting a significant decline in profitability[105]. - The net loss from continuing operations was $5,388,349, an increase of $1,140,292 or 26.8% compared to a loss of $4,248,057 in the prior year[105]. - The Americas segment generated revenue of $4,132,935 (50% of total revenue), while the International segment generated $4,089,006 (49% of total revenue), reflecting a shift in revenue distribution[112]. - The International segment's revenue decreased by $1.8 million due to reduced sales in the Middle East and North Africa region, primarily impacted by an import ban in Saudi Arabia[112]. - Selling, general, and administrative expenses decreased by $0.2 million, primarily due to reductions in stock-based compensation and other operating expenses[109]. - Research and development expenses were $741,820, a decrease of $37,069 or 4.8% compared to $778,889 in the prior year[105]. - The net loss from discontinued operations was $9,994,499, a significant increase of $9,062,612 or 972.5% compared to a loss of $931,887 in the same period of 2023[111]. - The gross profit percentage for the Americas segment was 17.6%, while the International segment reported a gross profit percentage of 19.5%, both down from the previous year's figures[113]. Cash Flow and Financing - The company has had negative cash flow from operations for several years, excluding a fiscal 2023 gain related to the Vision Bioenergy partnership[115]. - The maximum loan commitment under the Amended CIBC Loan Agreement was modified to $20.0 million from July 1, 2024, decreasing to $13.0 million by October 10, 2024[115]. - As of September 16, 2024, the revolving loan outstanding under the Amended CIBC Loan Agreement exceeded the total revolving loan commitment, constituting an event of default[116]. - The company expects to meet future cash requirements through existing cash, cash flows from operations, and debt financing[115]. - The maturity date of the MFP Loan Agreement was extended to May 31, 2025, with the letter of credit maturity extended to December 31, 2024[116]. - Cash flows from operating activities for Q3 2024 were $0.8 million, a decrease from $2.1 million in Q3 2023[119]. - The net increase in cash and cash equivalents for Q3 2024 was $193,851, compared to a decrease of $2,484,830 in Q3 2023[118]. - Cash and cash equivalents at the end of Q3 2024 were $480,359, down from $904,869 at the end of Q3 2023[118]. - Investing activities used $0.1 million in cash for Q3 2024, primarily for additions to property, plant, and equipment[120]. - Financing activities used $0.5 million in cash for Q3 2024, consisting of $0.3 million in net borrowings and repayments on working capital lines of credit[120]. Geopolitical and Economic Factors - Adverse geopolitical and macroeconomic events may impact the company's ability to generate sufficient cash flows and secure financing options[115]. - Inflationary pressures impacted results during Q3 2024, with expectations for continued effects throughout fiscal year 2025[121]. - The company faces risks related to geopolitical events and macroeconomic factors, which may affect access to capital and operational stability[117]. Administrative Changes - S&W Australia entered voluntary administration on July 24, 2024, due to anticipated insolvency, leading to its deconsolidation from the company's financial statements[95]. - S&W Australia entered voluntary administration on July 24, 2024, and was deconsolidated from the company's financial statements as of that date[114]. - The company has received a waiver from AgAmerica for noncompliance with reporting requirements due to delayed filing of the Annual Report[116]. - A $5.0 million liability was recorded for the Parent Guarantee as of September 30, 2024, following the deconsolidation of S&W Australia[123].

LONGMONT, Colo., Nov. 25, 2024 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) today announced it has finalized the voluntary plan of administration ("VA") process for its subsidiary, S&W Seed Company Australia Pty Ltd ("S&W Australia")."As a result of the VA process being completed, on a go forward basis S&W is exclusively focused on its core U.S.-based operations led by our high margin Double Team sorghum solutions as well as our biofuels joint venture with Shell," commented S&W Seed Company's CEO, Mark H ...

S&W Seed Company (NASDAQ:SANW) Q1 2025 Earnings Conference Call November 19, 2024 11:00 AM ET Company Participants Robert Blum - Lytham Partners Mark Herrmann - Chief Executive Officer Vanessa Baughman - Chief Financial Officer Conference Call Participants Benjamin Klieve - Lake Street Capital Markets Operator Good morning and welcome to the S&W Seed Company Preliminary First Quarter 2025 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s p ...

LONGMONT, Colo., Nov. 19, 2024 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) today announced preliminary financial results for the three months ended September 30, 2024.Operational Highlights The Voluntary Administration, or VA, process expected to conclude this month as it pertains to S&W Australia. Following the completion of the VA process, S&W is primarily focused on its core Americas based operations, led by its high margin Double Team sorghum solutions. S&W introduces new guidance for fiscal 2025 wh ...

Conference call to be conducted on Tuesday, November 19, 2024, at 11:00 a.m. ETLONGMONT, Colo., Nov. 14, 2024 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW) will report financial results for its first quarter fiscal year 2025, ended September 30, 2024, on Tuesday, November 19, 2024, before the open of the market. The Company has scheduled a conference call that same day, Tuesday, November 19, 2024, at 11:00 a.m. ET (8:00 a.m. PT) to review the results.Interested parties can access the conference call by di ...

S&W Seed Company (NASDAQ:SANW) Q4 2024 Earnings Conference Call November 1, 2024 11:00 AM ET Company Participants Robert Blum - Lytham Partners Mark Herrmann - Chief Executive Officer Vanessa Baughman - Chief Financial Officer Conference Call Participants Benjamin Klieve - Lake Street Capital Markets Operator Good day, and welcome to the S&W Seed Fourth Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 001-34719 S&W SEED COMPANY (Exact Name of Registrant as Specified in Its Charter) Nevada 27-1275784 (State or Ot ...