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LVRO

Lavoro Limited

LVRO

Lavoro Limited • NASDAQ
$0.95 ▼ -0.34% (-0.00)
Market Cap $110.40 M
52w High $5.60
52w Low $0.94
Dividend Yield 0%
P/E -0.61
Volume 3.89K
Outstanding Shares 116.61M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2025 $2.053B ▲ $307.446M ▲ $-248.533M ▲ -12.107% ▲ $-2.19 ▲ $83.673M ▲
Q4-2024 $1.415B ▼ $300.623M ▼ $-388.02M ▼ -27.43% ▼ $-3.33 ▼ $9.009M ▼
Q3-2024 $2.546B ▼ $344.724M ▼ $-292.887M ▼ -11.505% ▼ $-2.58 ▼ $26.213M ▼
Q2-2024 $3.066B ▲ $358.56M ▲ $-15.011M ▲ -0.49% ▲ $-0.13 ▲ $268.142M ▲
Q1-2024 $2.366B $319.886M $-66.537M -2.812% $-0.59 $108.316M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2025 $510.862M ▼ $9.058B ▲ $7.97B ▲ $870.117M ▼
Q4-2024 $911.335M ▲ $8.349B ▼ $6.99B ▼ $1.123B ▼
Q3-2024 $394.365M ▼ $10.753B ▲ $8.992B ▲ $1.507B ▼
Q2-2024 $693.851M ▲ $10.614B ▲ $8.543B ▲ $1.78B ▼
Q1-2024 $564.312M $9.361B $7.302B $1.807B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2025 $-175.986M ▲ $-735.772M ▼ $-30.206M ▲ $367.089M ▲ $-400.473M ▼ $-741.189M ▼
Q4-2024 $-327.606M ▼ $690.368M ▲ $-49.71M ▼ $-125.093M ▲ $516.97M ▲ $649.399M ▲
Q3-2024 $-293.037M ▼ $105.683M ▲ $-36.625M ▲ $-368.927M ▼ $-299.486M ▼ $79.974M ▲
Q2-2024 $-15.011M ▲ $-39.804M ▲ $-102.033M ▲ $272.465M ▼ $129.539M ▲ $-63.657M ▲
Q1-2024 $-156.52M $-590.494M $-129.9M $711.077M $18K $-614.39M

Five-Year Company Overview

Income Statement

Income Statement Lavoro has grown its sales steadily over the last several years, but profitability has gone the opposite way. After earlier years of reasonably healthy margins and positive earnings, more recent results show sharply weaker gross margins, almost breakeven operating profits, and meaningful net losses. This suggests a mix of pricing pressure, cost inflation, and restructuring-related disruption. In short: the company is selling more, but earning noticeably less on each unit of revenue, and recent performance points to a business under earnings pressure rather than one harvesting the benefits of its scale.

Balance Sheet

Balance Sheet The balance sheet shows a company that has expanded quickly, with total assets rising as the footprint and operations have grown. Cash on hand has improved recently, which helps short-term liquidity, but this comes alongside a clear build-up of debt and a recent drop in shareholders’ equity. That combination means leverage has increased and the financial cushion has thinned. The ongoing supplier restructuring in Brazil underlines that the balance sheet is usable but tight, and that risk management around borrowing, supplier terms, and working capital will be important going forward.

Cash Flow

Cash Flow Cash generation has been modest and somewhat uneven. Operating cash flow has been positive in most years but not particularly strong relative to the size of the business, and free cash flow has generally been positive but thin, with one notably weak year in the middle of the period. Investment spending has been kept relatively restrained, which helps, but the overall picture is of a company that does not yet produce a comfortable cash surplus. This leaves limited room for error when conditions in agriculture or credit markets turn less favorable.

Competitive Edge

Competitive Edge Lavoro holds a strong on-the-ground position as one of Latin America’s leading agricultural input distributors, with a wide network of retail outlets and a large team of technical sales representatives closely embedded with farmers. Its scale from multiple acquisitions, broad product portfolio, and ability to offer seeds, fertilizers, crop protection, biologicals, and financing solutions in one place all support a meaningful competitive edge. The focus on small and mid-sized farmers, plus long-standing relationships, makes the customer base relatively sticky. However, dependence on cyclical farm economics, supplier relationships, and ongoing integration of acquired businesses introduces operational and credit risk that needs careful oversight, especially during financial stress.

Innovation and R&D

Innovation and R&D The company is leaning heavily on innovation to strengthen its moat. Its Crop Care segment develops proprietary biological products and specialty fertilizers, giving Lavoro differentiated offerings with a sustainability angle that fits global trends. The partnership with Pattern Ag adds advanced soil analytics and data-driven recommendations, turning Lavoro from a simple product seller into more of an agronomic solutions provider. The “Minha Lavoro” app and broader digital platform deepen customer engagement and could lock in farmer relationships over time. The opportunity is to translate these innovations into higher margins and loyalty; the challenge is funding and executing them consistently while managing current financial constraints and ensuring farmers adopt and see value in these newer tools.

Summary

Lavoro is an interesting mix of scale, local relationships, and ag-tech ambition, operating in a structurally important sector for Latin America. On the positive side, it has grown strongly, built a broad distribution footprint, and invested in proprietary inputs and digital tools that could support a more profitable, value-added model over time. On the risk side, profitability has deteriorated, leverage has increased, and the need to renegotiate with suppliers highlights liquidity and execution pressures. The story from here turns on whether management can restore margins, strengthen the balance sheet, and fully convert its innovation and acquisition strategies into stable, cash-generative growth, while navigating the inherent volatility of the agricultural inputs market.

NEWS

November 24, 2025 · 4:05 PM UTC

Lavoro Announces Receipt of Non-Compliance Notice from Nasdaq Regarding Delayed Filing of Form 20-F

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