S&W Seed Q2 FY2024 revenue $10.9M (-16% YoY); net loss $6.5M; CFO appointed

S&W Seed Co

2024-Q2 EPS reported -$0.29 revenue$27,297,275

Revenue $10.9M, down 16% YoY; gross margin improved to 30.3% from 21.3%.
GAAP net loss ($0.15)/share vs ($0.14); adjusted EBITDA improved to ($3.2M).
Double Team sorghum revenue surged 233% to $4.0M; CEO cites MENA disruptions.
FY2024 revenue guidance lowered to low end of $76-82M; EBITDA view unchanged.
Vanessa Baughman appointed permanent CFO effective Feb 12; salary $330k + bonus/equity.

item 2.02 item 5.02 item 9.01

Executive movements

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Appointed

Vanessa Baughman

Chief Financial Officer

S&W Seed Co

Effective: 2024-02-12
Filed: February 14, 2024, 6:59 PM ET

The Board of Directors (the “Board”) of the Company appointed Vanessa Baughman as the Company’s Chief Financial Officer, effective February 12, 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

S&W Seed Co reported the second quarter of fiscal 2024 ended December 31, 2023 results: revenue $10.9 million, net income ($6.5) million, EPS ($0.15) per basic and diluted share.

Period: the second quarter of fiscal 2024 ended December 31, 2023
Revenue: $10.9 million
Net income: ($6.5) million
EPS: ($0.15) per basic and diluted share
Result: reported results

Exact text from the filing

Company (Nasdaq: SANW) today announced financial results for the three months ended December 31, 2023. Financial Highlights • Revenue for the second quarter of fiscal 2024 was $10.9 million, a 16.0% decrease compared to the second quarter of fiscal 2023. Double Team TM sorghum revenue was $4.0 million in the second quarter of fiscal 2024 compared to $1.2 million in

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Executive change SEC 8-K Item 5.02 confidence 0.95

Vanessa Baughman was appointed as Chief Financial Officer at S&W Seed Co.

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

The Board of Directors (the “Board”) of the Company appointed Vanessa Baughman as the Company’s Chief Financial Officer, effective February 12, 2024.

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Source: SEC EDGAR

accession 0000950170-24-014946

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