Benson Hill Inc's Business Segments

Benson Hill Inc is a cutting-edge agricultural technology company that specializes in developing and commercializing cloud biology and machine learning solutions for crop improvement. Founded in 2012 and headquartered in St. Louis, Missouri, the company aims to revolutionize the food and agriculture industries by enabling the production of healthier, more sustainable, and better-tasting crops.

At the core of Benson Hill's activities lies its unique CropOS™ platform, which combines computational biology, data analytics, and machine learning to accelerate the entire crop innovation cycle. This platform serves as an integrated computational infrastructure that captures and consolidates vast amounts of phenotypic, genotypic, and environmental data. It also simulates complex biological systems to predict the performance of different crop varieties under numerous conditions.

One of Benson Hill's key technologies is gene editing, which allows for precise, targeted modifications in plant genomes. By leveraging CRISPR-Cas9 technology, the company can engineer crops to exhibit desired traits, such as enhanced nutritional content, improved yield, disease resistance, and drought tolerance. This approach significantly reduces the timeline and cost traditionally associated with breeding programs, enabling rapid development and deployment of improved crops.

Benson Hill's gene editing capabilities are complemented by its advanced analytics and machine learning algorithms. These algorithms enable the company to study and interpret the massive streams of biological data generated by CropOS™, identifying patterns, correlations, and genetic markers associated with desirable traits. By harnessing this knowledge, Benson Hill can optimize breeding programs, accelerate development, and make data-driven decisions for crop improvement.

The company also emphasizes sustainability in its operations. Benson Hill focuses on using environmentally friendly and resource-efficient agricultural practices, reducing waste, and optimizing land and water usage. By improving crop efficiency and reducing inputs, the company aims to make agriculture more sustainable and resilient to climate change.

Benson Hill collaborates with a diverse range of partners, including farmers, breeders, consumer food companies, academia, and government organizations, to bring its innovations to market. By working together, Benson Hill aims to create a more resilient and equitable food system to meet the growing global demand for nutritious and sustainable food.

In conclusion, Benson Hill Inc is an agricultural technology company that harnesses the power of cloud biology, machine learning, and gene editing to revolutionize crop improvement. With a focus on sustainability and collaboration, the company aims to address global food challenges and create a more resilient and environmentally friendly food system.

The registrant operates a single reportable and operating segment, Ingredients, following the divestiture of its Fresh segment in December 2022. The Ingredients segment produces food ingredients derived from soybean seeds, meal, oil, and processed yellow peas. Revenue is categorized into Proprietary and Non-Proprietary product lines. Proprietary revenue consists of sales from proprietary beans, byproducts of crushing these beans, or blends of proprietary and commodity-grade byproducts. Non-Proprietary revenue includes all other sources. The chief operating decision maker evaluates financial information on a consolidated basis for operating decisions, resource allocation, and performance assessment. Revenues for the years ended December 31, 2023, 2022, and 2021 are reported with details on point-in-time and over-time recognition, as well as domestic and international sales. Adjusted EBITDA is used to measure operating performance and is defined as net loss from continuing operations adjusted for income taxes, interest, depreciation, amortization, stock-based compensation, changes in fair value of warrants and conversion options, impairments, restructuring costs, and significant non-recurring items.