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SANW

S&W Seed Company

SANW

S&W Seed Company • NASDAQ
$0.11 ▲ 0.00% (+0.00)
Market Cap $236149
52w High $10.00
52w Low $0.06
Dividend Yield 0%
P/E -0.01
Volume 5.00K
Outstanding Shares 2.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $9.552M ▲ $4.268M ▼ $-2.236M ▼ -23.408% ▲ $-1.1 ▼ $-62.534K ▲
Q2-2025 $5.077M ▼ $6.227M ▲ $-1.661M ▲ -32.714% ▲ $-0.78 ▲ $-3.648M ▼
Q1-2025 $8.309M ▼ $5.57M ▼ $-16.23M ▼ -195.316% ▼ $-7.17 ▼ $-3.45M ▲
Q4-2024 $14.82M ▲ $10.174M ▲ $-12.112M ▼ -81.729% ▼ $-5.36 ▼ $-7.08M ▼
Q3-2024 $9.368M $4.728M $-5.501M -58.716% $-2.6 $-2.051M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $354.497K ▼ $69.613M ▼ $42.793M ▲ $32.936M ▼
Q2-2025 $1.393M ▲ $73.322M ▼ $38.33M ▼ $34.95M ▼
Q1-2025 $480.359K ▲ $96.611M ▼ $60.193M ▼ $36.376M ▼
Q4-2024 $294.014K ▲ $120.726M ▼ $75.694M ▼ $44.989M ▼
Q3-2024 $171.009K $133.21M $76.361M $56.792M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.236M ▲ $-4.272M ▼ $-12.895K ▲ $3.246M ▲ $-1.039M ▼ $-4.285M ▼
Q2-2025 $-11.655M ▼ $4.575M ▲ $-43.406K ▲ $-3.624M ▼ $912.841K ▲ $5.952M ▲
Q1-2025 $-6.235M ▲ $-650.255K ▼ $-87.262K ▼ $931.251K ▲ $193.851K ▲ $-788.296K ▼
Q4-2024 $-12.13M ▼ $-55.2K ▲ $80.721K ▼ $96.597K ▲ $123.005K ▲ $-381.309K ▲
Q3-2024 $-5.501M $-7.019M $6.802M $-693.293K $-943.361K $-7.159M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q3-2025
Other
Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been relatively flat to slightly down over the last few years, with only a modest level of gross profit being generated. Operating results have been consistently in the red, meaning the core business has not yet reached sustainable profitability. There was a brief improvement in earnings in one recent year, but overall net results have mostly been losses, and earnings per share have swung widely. In simple terms, the income statement shows a company still in transition, investing in its products but not yet converting that into steady, positive earnings.

Balance Sheet

Balance Sheet The balance sheet is modest in size and has been gradually shrinking, which suggests assets have been run down or sold to refocus the business. Debt sits at a meaningful level relative to the company’s total size, while shareholder equity has been trending lower. Cash on hand appears quite limited, so there is not a large financial cushion. Overall, the balance sheet reflects a small company with constrained resources and a need to carefully manage its obligations and growth plans.

Cash Flow

Cash Flow Cash flow from day‑to‑day operations has been consistently negative, which means the business has been consuming cash rather than generating it. Free cash flow has also been negative, even though spending on long‑term assets has been quite low. This indicates that working capital needs and ongoing losses, rather than heavy investment, are the main drains on cash. The pattern points to continuing reliance on external funding sources or asset sales to support operations until the core business turns cash‑positive.

Competitive Edge

Competitive Edge S&W operates in niche crop segments—mainly sorghum and alfalfa—where the competitive field is less crowded than in major crops like corn and soybeans. Its edge comes from proprietary seed genetics, specialized traits such as improved weed control and digestibility, and long experience in these particular crops. Partnerships with larger agricultural and energy players extend its reach and credibility. However, it competes against much bigger seed companies with deeper pockets, so its position is that of a specialist player that needs to execute very well in its chosen niches to maintain and grow its relevance.

Innovation and R&D

Innovation and R&D Innovation is the clear bright spot. The Double Team sorghum weed‑control system, reduced‑lignin IQ alfalfa, and the development of safer, prussic‑acid‑free forage sorghum are all examples of targeted, problem‑solving traits that farmers can easily understand the value of. The joint venture with Shell around camelina for biofuels adds a longer‑term growth angle tied to energy transition themes. S&W’s large germplasm collections and breeding history give it a technical base that is hard to duplicate for a company of its size. The key uncertainty is how quickly and widely these innovations will be adopted, and whether the company can scale them fast enough to overcome its financial strains.

Summary

S&W Seed looks like an innovation‑rich but financially stretched agricultural technology company. On the positive side, it has distinctive technologies in sorghum and alfalfa, credible partnerships, and a focused strategy in underserved crop markets, plus optionality in biofuels. On the risk side, it has a track record of operating losses, ongoing cash burn, limited balance sheet flexibility, and dependence on successful commercialization of a relatively small number of products. The recently announced strategic review underscores that the company is at an inflection point, where outcomes could include a sale, merger, or other restructuring. Overall, SANW combines meaningful technology potential with notable financial and execution risk, and its future path will likely hinge on both product uptake and the result of its strategic review process.