---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-021949"
form_type: "8-K"
ticker: null
cik: "0001830210"
company_name: "Benson Hill, Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T06:56:36.151876+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Transition to licensing model improves Q1 gross profit; revamps debt with new credit facility

## Summary
- Q1 2024 revenue $21.1M (excl. discontinued ops), gross profit $5.2M, net loss $26.3M from continuing ops.
- Amended credit facility: $6M revolver (prime+0.25%, due Dec 2024) and $15.8M term loan (prime+1%, due Apr 2029) from First National Bank of Omaha.
- Free cash flow loss improved to $10.7M from $36.9M in Q1 2023; cash and marketable securities $30.5M.
- Operating expenses reduced 16% to $21.8M; gross profit margins expanding as 73% of 2023 processing revenues are exited.
- Perdue feeding trial validates UHP-LO soybean meal: 16% more protein, 92% less oligosaccharides; targeting 6M acres by 2030.

## SEC filing metadata
- accession: 0001628280-24-021949
- form_type: 8-K
- cik: 0001830210
- company_name: Benson Hill, Inc.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1830210/000162828024021949/0001628280-24-021949-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1830210/000162828024021949/bhil-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-021949
- JSON: https://secwatch.observer/filing/0001628280-24-021949.json
- Plain text: https://secwatch.observer/filing/0001628280-24-021949.txt

## Key facts
- Debt Financings
  Benson Hill, Inc. incurred credit facility of $6 million with First National Bank of Omaha at prime rate plus 1/4% maturing December 1, 2024.
  - Instrument: credit facility
  - Principal: $6 million
  - Counterparty: First National Bank of Omaha
  - Rate: prime rate plus 1/4%
  - Maturity: December 1, 2024
  - Event: incurrence
  source text: a revolving credit facility from FNBO to DDB in the maximum aggregate amount of $6 million, bearing interest at a floating rate equal to the prime rate plus 1/4%, with accrued interest payable monthly, and with a maturity date of December 1, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830210/000162828024021949/0001628280-24-021949-index.htm
- Debt Financings
  Benson Hill, Inc. incurred term loan of $15.8 million with First National Bank of Omaha at prime rate plus 1% maturing April 1, 2029.
  - Instrument: term loan
  - Principal: $15.8 million
  - Counterparty: First National Bank of Omaha
  - Rate: prime rate plus 1%
  - Maturity: April 1, 2029
  - Event: incurrence
  source text: a term loan facility from FNBO to DDB in the amount of $15.8 million, bearing interest at a floating rate equal to the prime rate plus 1%, with quarterly principal payments in the amount of $395,000 each, with accrued interest payable quarterly, and maturing on April 1, 2029
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830210/000162828024021949/0001628280-24-021949-index.htm
- Earnings Releases
  Benson Hill, Inc. reported financial results for the quarter ended March 31, 2024.
  - Period: the quarter ended March 31, 2024
  - Result: reported results
  source text: On May 9, 2024, Benson Hill, Inc. (the “Company”) issued a press release reporting the financial results of the Company for the quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830210/000162828024021949/0001628280-24-021949-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.