Boa Safra (SOJA3) Posts R$ 26 mn Profit in 3Q26

Gross profit grew 25% to R$ 129 mn, and gross margin rose from 9% to 13%. Accounting EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 106 mn (+20%), with a 10% margin. Adjusted EBITDA reached R$ 121 mn (+33%), with a 12% margin. Gross operating revenue was R$ 1,089 mn (-8%), with soybean seeds at R$ 889 mn (-6%).

In the last 12 months through September 2026, net revenue was R$ 2.5 bn (+12%) and adjusted EBITDA totaled R$ 184 mn (+8%). Net income for the period was practically zero, with a loss of R$ 73 thousand, versus a profit of R$ 99.1 mn a year earlier.

The order backlog ended September at R$ 1,180 mn, 37% above September 2025. Soybean seed orders totaled R$ 918 mn (+21%) and orders for other crops, services and inputs totaled R$ 263 mn, versus R$ 101 mn (+160%). In the first nine months of 2026, gross profit was R$ 226 mn (+60%), with a 17.6% margin, and adjusted EBITDA was R$ 124 mn, versus R$ 62 mn in 9M25.

Consolidated net debt closed September at R$ 866 mn, versus R$ 652 mn a year earlier, on the same comparison basis. Gross debt totaled R$ 1.93 bn, with 92% maturing after 12 months and a weighted average cost of 14.4% per year, and cash and financial investments totaled R$ 1.06 bn. Working capital requirement was R$ 1,057 mn, below the R$ 1,132 mn of September 2025, equivalent to 41.7% of net revenue for the last 12 months.

Operating cash flow for the nine months was a cash burn of R$ 141 mn, versus R$ 126 mn in 9M25, with interest paid of R$ 165 mn, and ending cash was R$ 117.1 mn. On October 8, after the end of the quarter, R$ 215 mn in financing from FINEP was received, approved for up to R$ 332 mn, with a 192-month term.