Canada · Delayed Price · Currency is CAD MustGrow Biologics Earnings Call Transcripts
Fiscal Year 2026
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Biologicals are a growing market, with demand reinforced by consumer preferences and tighter European regulations. Bayer’s testing confirmed TerraMG handling compatibility and meaningful disease control in field conditions, while its regional expertise supports EMEA development.
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TerraSante sales reached ~CAD 875,000 by Aug. 15, 2026, up 46% vs. 2025, while production constraints continue to limit supply. Bayer’s registration program for TerraMG has reached its first milestone payment, and broader commercialization depends on regulatory approvals and capacity expansion.
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Q2 2026 saw TerraSante sales rise 46% year-over-year, with strong demand in strawberries and potatoes, but gross margins were pressured by costly air freight. Manufacturing improvements and a shift to ocean freight are expected to restore margins and support positive cash flow in 2027.
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Q1 2026 saw the first TerraSante sales, improved margins, and a narrowed focus after discontinuing NexusBioAg. Manufacturing issues limited Q1 growth, but demand is strong and management expects a stronger second half, with international expansion and capital raises supporting growth.
Fiscal Year 2025
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2025 sales fell short due to NexusBioAg underperformance, but TerraSante sales surged 377% year-over-year. Focus is now on expanding TerraSante in the U.S. and globally, with improved margins expected in 2026 and cash flow breakeven targeted for 2027.
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Q3 2025 saw seasonally low sales and no TerraSate revenue due to inventory shortages, but gross margin improved to 22%. Strong demand for TerraSate and new product launches are expected to drive a robust Q4 and a positive outlook for 2026, with break-even targeted next year.