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SANW S&W Seed

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

SANW stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

13 May 21
17 May 21
30 Jun 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 20 Jun 19 Jun 18 Jun 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from S&W Seed earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 3.36M 3.36M 3.36M 3.36M 3.36M 3.36M
Cash burn (monthly) (positive/no burn) 425.16K 702.24K 1.96M 654.09K 907.08K
Cash used (since last report) n/a 663.31K 1.1M 3.06M 1.02M 1.42M
Cash remaining n/a 2.7M 2.27M 305.03K 2.34M 1.95M
Runway (months of cash) n/a 6.4 3.2 0.2 3.6 2.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 21 Panter Donald M. Jr. Common Stock Payment of exercise Dispose F No No 3.72 1,155 4.3K 35,593
1 Apr 21 Wong Mark Common Stock Payment of exercise Dispose F No No 3.72 4,757 17.7K 256,558
1 Apr 21 Wong Mark Common Stock Option exercise Aquire M No No 3.72 3,125 11.63K 261,315
1 Apr 21 Wong Mark RSU Common Stock Option exercise Dispose M No No 0 3,125 0 3,125
1 Apr 21 Szot Matthew K Common Stock Payment of exercise Dispose F No No 3.72 2,205 8.2K 132,947
1 Apr 21 Szot Matthew K Common Stock Option exercise Aquire M No No 3.72 1,039 3.87K 135,152
1 Apr 21 Szot Matthew K RSU Common Stock Option exercise Dispose M No No 0 1,039 0 1,040
12 Mar 21 David Thomas Callachor Common Stock Sell Dispose S No No 3.7 3,500 12.95K 32,627
1 Jan 21 Wong Mark Common Stock Payment of exercise Dispose F No No 2.93 5,675 16.63K 258,190
1 Jan 21 Wong Mark Common Stock Option exercise Aquire M No No 2.93 3,125 9.16K 263,865

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

68.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 29 28 +3.6%
Opened positions 4 5 -20.0%
Closed positions 3 5 -40.0%
Increased positions 8 9 -11.1%
Reduced positions 9 6 +50.0%
13F shares
Current Prev Q Change
Total value 79.18M 62.85M +26.0%
Total shares 25.25M 25.35M -0.4%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Price Michael F 16.05M $47.03M +0.5%
Wynnefield Capital 4.49M $13.16M -0.0%
Cutter & CO Brokerage 1.09M $3.18M -3.6%
Vanguard 717.04K $2.1M +0.6%
Fairpointe Capital 488.41K $1.43M 0.0%
TETAA Teton Advisors 470K $1.38M -3.3%
Old West Investment Management 430.03K $1.26M 0.0%
Dimensional Fund Advisors 201.38K $590K +0.0%
Koshinski Asset Management 200.93K $589K -9.8%
S. Muoio & Co. 185.69K $544K 0.0%
Largest transactions
Shares Bought/sold Change
Millennium Management 122.68K -90.83K -42.5%
Price Michael F 16.05M +73.29K +0.5%
Cutter & CO Brokerage 1.09M -40.08K -3.6%
GS Goldman Sachs 0 -23.81K EXIT
Koshinski Asset Management 200.93K -21.9K -9.8%
TETAA Teton Advisors 470K -16K -3.3%
Susquehanna International 0 -14.39K EXIT
VIRT Virtu Financial 11.15K +11.15K NEW
Renaissance Technologies 169.2K +10.51K +6.6%
First Manhattan 58K -10K -14.7%

Financial report summary

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Competition
CantaloupeCorteva
Risks
  • 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 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.
  • 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.
  • 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’s reliance upon an estimated purchase price to growers could result in changes in estimates in our consolidated financial statements.
  • Changes in government policies and laws could adversely affect international sales and therefore our financial results.
  • 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.
  • 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.
  • 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.
  • We may need to raise additional capital in the future.
  • 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.
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, 2020, particularly in Part I, Item 1A, “Risk Factors”.
  • We are a global multi-crop, middle-market agricultural seed company. We are market leaders in the breeding, production and sale of alfalfa seed and sorghum seed. We also have a growing commercial market presence in sunflower, wheat and pasture seed and maintain an active stevia development program.
Content analysis
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New words: Additionally, announced, Asia, cereal, compressed, congestion, deficiency, force, logistical, longer, persist, shortfall, transportation, Variation
Removed: consummation, drawdown, entitled, Eurodollar, guaranteeing, KeyBank, pledge, reborrow, receive, released, unencumbered