In the Q3, S And W Seed Co's corporate clients experienced a reduction by -7.41 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -8.29 %. During the corresponding time, S And W Seed Co recorded a revenue increase by 7.17 % year on year, sequentially revenue grew by 76.25 %. While revenue at the S And W Seed Co's corporate clients fell by -8.82 % year on year, sequentially revenue fell by -10.06 %.
Customers of S And W Seed Co saw their costs of revenue decrease by -7.41 % in Q3 compare to a year ago, sequentially costs of revenue were trimmed by -8.29 %, for the same period S And W Seed Co recorded revenue increase by 7.17 % year on year, sequentially revenue grew by 76.25 %.
S And W Seed Co's Comment on Sales, Marketing and Customers
The Company did not have any single customer accounting for more than 10% of revenue for the years ended June 30, 2024 and 2023. As of June 30, 2024, one customer represented 23% and another 12% of accounts receivable. International sales accounted for 58% and 70% of revenue for the years ended June 30, 2024 and 2023, respectively. Key market segments by country in 2024 included the United States (42% of revenue), Australia (23%), Mexico (7%), Saudi Arabia (6%), South Africa (4%), Pakistan (4%), Libya (3%), Argentina (3%), Sudan (2%), China (1%), and other countries (5%). Product revenue depends on timely fulfillment of customer orders, which can be influenced by shipping, distribution networks, and geopolitical events. In 2024, logistical challenges and geopolitical issues, including Saudi Arabia’s discontinuation of import permits for alfalfa seed and conflicts in the Middle East, impacted sales outside the United States. The Company received $1.0 million from Trigall Genetics S.A. and $6.0 million from Equilon Enterprises LLC (doing business as Shell Oil Products) in early 2024 related to partnerships formed in fiscal 2023. In April 2024, the Company sold its remaining 20% ownership interest in Trigall Australia.
S And W Seed Co’s Comment on Sales, Marketing and Customers
The Company did not have any single customer accounting for more than 10% of revenue for the years ended June 30, 2024 and 2023. As of June 30, 2024, one customer represented 23% and another 12% of accounts receivable. International sales accounted for 58% and 70% of revenue for the years ended June 30, 2024 and 2023, respectively. Key market segments by country in 2024 included the United States (42% of revenue), Australia (23%), Mexico (7%), Saudi Arabia (6%), South Africa (4%), Pakistan (4%), Libya (3%), Argentina (3%), Sudan (2%), China (1%), and other countries (5%). Product revenue depends on timely fulfillment of customer orders, which can be influenced by shipping, distribution networks, and geopolitical events. In 2024, logistical challenges and geopolitical issues, including Saudi Arabia’s discontinuation of import permits for alfalfa seed and conflicts in the Middle East, impacted sales outside the United States. The Company received $1.0 million from Trigall Genetics S.A. and $6.0 million from Equilon Enterprises LLC (doing business as Shell Oil Products) in early 2024 related to partnerships formed in fiscal 2023. In April 2024, the Company sold its remaining 20% ownership interest in Trigall Australia.
Sources:
S and w Seed Co’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: S and w Seed Co’s corporate clients.
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