S&W Seed boosts revenue, shaves loss

LONGMONT — S&W Seed Co. (Nasdaq: SANW) reported a 2021 annual net loss of $19.2 million on revenue of $84 million for the year ended June 30.

Both metrics improved year-over-year compared with 2020, when S&W lost $19.7 million on revenue of $79.6 million. Margins declined; operating expenses held steady.

The company said in its earnings release that production and delivery issues had hindered performance.

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“The COVID-19 pandemic had a significant negative impact on logistics,” S&W’s report said, with higher costs, fewer trucks and shipping containers, and congestion at ports. It has recently focused seed production on larger and fewer facilities, in some cases exacerbating last year’s supply chain challenges.

Because of this, $5 million in revenue expected in 2021’s fourth quarter will be booked in the first quarter of 2022, S&W said. It projects 2022 revenue at $80 million to $85 million, about the same overall as last year but an increase of about 15%, S&W said, accounting for the end of an alfalfa contract with one client.

The company provides seed genetics, production, processing and marketing.

It traded Monday at a $106 million market cap.

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