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S&W Seed (SANW)

Founded in 1980, S&W Seed Company is a global agricultural seed technology company headquartered in Longmont, Colorado. S&W's vision is to be the world's preferred proprietary seed company which supplies a range of forage and specialty crop products that supports the growing global demand for animal proteins and healthier consumer diets. S&W is a global leader in proprietary alfalfa, sorghum and pasture seeds, with significant research and development, production and distribution capabilities. S&W's product portfolio also includes hybrid sunflower and wheat and the company is utilizing its research and breeding expertise to develop and produce stevia, the all-natural, zero calorie sweetener for the food and beverage industry.

Company profile

Ticker
SANW
Exchange
CEO
Mark Wong
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Nevada corporation • Pasture Genetics Pty Ltd, an Australia corporation • Seed Holding, LLC • Stevia California, LLC • S&W Holdings Australia Pty Ltd, an Australia corporation • S&W Seed Company Australia Pty Ltd, an Australia corporation • Seed Vision (PTY) LTD • Sorghum Solutions South Africa (PTY) LTD • S&W Seed Hungary Korlátolt Felelősségű Társaság (KFT), a Hungary limited liability company ...
IRS number
271275784

SANW stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

16 May 22
26 Jun 22
30 Jun 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jun 21 Jun 20 Jun 19 Jun 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 3.14M 3.14M 3.14M 3.14M 3.14M 3.14M
Cash burn (monthly) (no burn) 18.55K 2.31M 2.3M 3.31M 1.86M
Cash used (since last report) n/a 53.24K 6.64M 6.61M 9.51M 5.35M
Cash remaining n/a 3.09M -3.5M -3.47M -6.37M -2.21M
Runway (months of cash) n/a 166.5 -1.5 -1.5 -1.9 -1.2

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 May 22 Wong Mark Common Stock Buy Acquire P No No 1.32 7,634 10.08K 276,176
1 Apr 22 Wong Mark Common Stock Payment of exercise Dispose F No No 2.1 4,465 9.38K 268,542
1 Apr 22 Panter Donald M. Jr. Common Stock Payment of exercise Dispose F No No 2.1 1,416 2.97K 55,589
16 Mar 22 MFP Partners Common Stock, par value $0.001 per share Grant Acquire A No No 1.82 5,500 10.01K 17,448,226
18 Feb 22 MFP Partners Common Stock Purchase Warrant Common Stock Grant Acquire A No No 2950 559,350 1.65B 559,350
18 Feb 22 MFP Partners Series B Redeemable Convertible Non-Voting Preferred Stock Common Stock Grant Acquire A No No 2950 1,695 5M 1,695
13F holders Current Prev Q Change
Total holders 41 38 +7.9%
Opened positions 8 8
Closed positions 5 4 +25.0%
Increased positions 12 11 +9.1%
Reduced positions 13 12 +8.3%
13F shares Current Prev Q Change
Total value 335.36M 451.28M -25.7%
Total shares 47.04M 45.25M +4.0%
Total puts 28.6K 0 NEW
Total calls 0 49K EXIT
Total put/call ratio Infinity
Largest owners Shares Value Change
MFP Investors 19.14M $40.76M +9.7%
Price Michael F 17.45M $37.17M +0.0%
Wynnefield Capital 4.49M $9.57M 0.0%
Cutter & CO Brokerage 1.24M $2.64M +16.5%
Allianz Asset Management GmbH 937.97K $2M +0.5%
Vanguard 718.21K $1.53M -30.7%
Oak Family Advisors 528.2K $1.13M +56.8%
TETAA Teton Advisors 466K $993K -0.9%
Prescott Group Capital Management, L.L.C. 369.7K $787K +8.8%
Dimensional Fund Advisors 197.5K $421K +8.1%
Largest transactions Shares Bought/sold Change
MFP Investors 19.14M +1.7M +9.7%
Old West Investment Management 0 -337.8K EXIT
Vanguard 718.21K -318.78K -30.7%
Oak Family Advisors 528.2K +191.25K +56.8%
Cutter & CO Brokerage 1.24M +174.95K +16.5%
First Western Trust Bank 157.68K +157.68K NEW
VIRT Virtu Financial 90.61K +90.61K NEW
Walleye Capital 80K +80K NEW
Shufro Rose & Co 193.01K +78.51K +68.6%
S. Muoio & Co. 139.84K -45.85K -24.7%

Financial report summary

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Competition
CantaloupeCorteva
Risks
  • Our earnings can be negatively impacted by declining demand brought on by varying factors, many of which are out of our control.
  • Our earnings may also be sensitive to fluctuations in market prices for seed.
  • Our inventory of seed can be adversely affected by the market price being paid for other crops.
  • Adverse weather conditions, natural disasters, crop disease, pests and other natural conditions can impose significant costs and losses on our business.
  • Because our seed business is highly seasonal, our revenue, cash flows from operations and operating results may fluctuate on a seasonal and quarterly basis.
  • We have had a material concentration of revenue from a small group of customers that fluctuates, and the loss of any of these customers in any quarter could have a material adverse effect on our revenue.
  • Because we depend on a core group of significant customers, our sales, cash flows from operations and results of operations may be negatively affected if our key customers reduce the amount of products they purchase from us.
  • Because we do not grow the seed that we sell, we are completely dependent on our network of contract growers, and our sales, cash flows from operations and results of operations may be negatively affected if we are unable to maintain an adequate network of contract growers to supply our seed requirements.
  • Our ability to contract for sufficient acreage presents challenges.
  • A lack of availability of water in any of our production areas could impact our business.
  • We face intense competition, and our inability to compete effectively for any reason could adversely affect our business.
  • If we are unable to estimate our customers’ future needs accurately and to match our production to the demand of our customers, our business, financial condition and results of operations may be adversely affected.
  • Our third-party distributors may not effectively distribute our products.
  • We extend credit to our largest international customer and to certain of our other international customers, which exposes us to the difficulties of collecting our receivables in foreign jurisdictions if those customers fail to pay us.
  • Our current reliance on the seed development and production business does not permit us to spread our business risks among different business segments, and thus a disruption in our seed production or the industry would harm us more immediately and directly than if we were more diversified.
  • If we fail to introduce and commercialize new seed products, we may not be able to maintain market share, and our future sales may be harmed.
  • The presence of GMO alfalfa in Australia or California could impact our sales.
  • The stevia market may not develop as we anticipate, and therefore our continued research and development activities with respect to stevia may never become profitable to us.
  • The loss of key employees or the failure to attract qualified personnel could have a material adverse effect on our ability to run our business.
  • We may not be able to manage expansion of our operations effectively.
  • We may be unable to successfully integrate the businesses we have recently acquired and may acquire in the future with our current management and structure.
  • The diversion of management's attention and costs associated with acquisitions may have a negative impact on our business.
  • S&W Australia's alfalfa seed grower pool is dependent on a limited number of milling facilities to process its seed, with particular dependence on a dominant operator whose commercial interests may be adverse to S&W Australia.
  • S&W Australia is thinly capitalized and may become dependent upon us for financing.
  • S&W Australia is dependent on a group of seed growers and a favorable pricing model for alfalfa seed production.
  • Changes in government policies and laws could adversely affect international sales and therefore our financial results.
  • We are subject to risks associated with doing business globally.
  • Failure to comply with the United States Foreign Corrupt Practices Act or similar laws could subject us to penalties and other adverse consequences.
  • Environmental regulation affecting our seed products could negatively impact our business.
  • If we are unable to obtain government approvals for certain of our products, we may be unable to commercialize those products in certain markets.
  • Unauthorized access to our information technology systems, infrastructure and data could have a material adverse effect on our business, financial condition or results of operations.
  • Insurance covering defective seed claims may become unavailable or be inadequate.
  • We may be exposed to product quality claims, which may cause us to incur substantial legal expenses and, if determined adversely against us, may cause us to pay significant damage awards.
  • Capital and credit market issues could negatively affect our liquidity, increase our costs of borrowing and disrupt the operations of our growers and customers.
  • If we are unable to protect our intellectual property rights, our business and prospects may be harmed.
  • The terms of our loan and security agreement with CIBC place restrictions on our operating and financial flexibility, and failure to comply with covenants or to satisfy certain conditions may result in acceleration of our repayment obligations and foreclosure on our pledged assets, which could significantly harm our liquidity, financial condition, operating results, business and prospects and cause the price of our securities to decline.
  • We received a loan under the Paycheck Protection Program of the CARES Act and our receipt of this loan may result in adverse publicity, damage to our reputation or potential penalties.
  • The value of our common stock can be volatile.
  • Our quarter-to-quarter performance may vary substantially, and this variance, as well as general market conditions, may cause the price of our securities to fluctuate greatly and potentially expose us to litigation.
  • If we issue shares of preferred stock, the holdings of those owning our common stock could be diluted or subordinated to the rights of the holders of preferred stock.
  • Our actual operating results may differ significantly from our guidance.
  • We do not anticipate declaring any cash dividends on our common stock.
  • Anti-takeover provisions and our right to issue preferred stock could make a third-party acquisition of us difficult.
Management Discussion
  • Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • You should read the following discussion of our financial condition and results of operations in conjunction with our consolidated financial statements and the related notes included in Part I, Item 1, “Financial Statements” of this Quarterly Report on Form 10-Q. In addition to our historical consolidated financial information, the following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements as referred to on page 2 of this Quarterly Report on Form 10-Q. Factors that could cause or contribute to these differences include those discussed in our Annual Report on Form 10-K for the fiscal year ended June 30, 2021, particularly in Part I, Item 1A, “Risk Factors”.
  • We are a global multi-crop, middle-market agricultural company. We are market leaders in the breeding, production and sale of alfalfa seed and sorghum seed. We also have a commercial market presence in sunflower, wheat and pasture seed and maintain an active stevia development program.

Content analysis

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H.S. sophomore Avg
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