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Benson Hill, Inc. (NYSE: BHIL) is a cutting-edge crop improvement company dedicated to unlocking the natural genetic diversity of plants. Through its revolutionary CropOS™ platform, Benson Hill integrates machine learning (ML), big data, genome editing, and plant biology to significantly accelerate and simplify the product development process. This innovative approach empowers agricultural innovators to develop healthier and more sustainable crops.
Benson Hill operates in one main business segment: Ingredients. The company specializes in soy protein innovation and focuses on seed innovation through proprietary germplasm and the CropOS platform. By leveraging AI and ML, the platform integrates protein, genomic, and strategic data for predictive breeding, which is further accelerated by the company's Crop Accelerator for rapid prototyping.
The company's seed portfolio is being developed for various applications, including protein ingredients, aquaculture, specialty animal feed, and vegetable oils. Revenue is categorized into two main types: Proprietary and Non-Proprietary. Proprietary revenue comes from the sale of proprietary beans, while Non-Proprietary revenue includes all other sources.
Recent achievements and current projects highlight Benson Hill's commitment to modernizing our food system and developing sustainable agricultural solutions. The company continues to make strides in soy protein innovation, predictive breeding, and rapid prototyping to stay at the forefront of ag-tech advancements.
For more information about Benson Hill and their latest updates, visit www.bensonhillbio.com.
Benson Hill (Nasdaq: BHIL), a seed innovation company, has scheduled the release of its third quarter 2024 financial results for Tuesday, November 12, 2024. The results will cover the period ending September 30, 2024, and will be made available on the company's investor relations website.
Benson Hill, a seed innovation company, has announced its decision to transfer its stock exchange listing from the New York Stock Exchange to The Nasdaq Stock Market . The transition is set to take effect on Aug. 23, 2024, after market close, with trading on Nasdaq commencing on Aug. 26, 2024. The company will retain its current ticker symbol 'BHIL'.
CEO Deanie Elsner stated that this move is expected to result in cost savings for the company and ensure the continued listing of their common stock on a national securities exchange. This strategic decision aims to optimize Benson Hill's market presence and financial efficiency.
Benson Hill (NYSE: BHIL) reported second-quarter 2024 revenues of $33.8 million, up from $23.5 million in the same period of 2023, driven by higher grain sales and increased revenue from partnerships. The company’s net loss from continuing operations improved to $18 million, a decrease of $18.5 million compared to the previous year. Adjusted EBITDA loss was reduced to $12.4 million from $15.2 million. Free cash flow loss for the first half of 2024 was $31.8 million, a 50% improvement from 2023. Benson Hill ended the quarter with $29.5 million in cash and marketable securities. Key initiatives included advancements in their innovation pipeline, animal feeding trials, and strategic partnerships. The company reiterated its focus on cash management and expects to fund operations through the end of 2024.
Benson Hill (NYSE: BHIL), a seed innovation company, has announced that it will release its financial results for the quarter ending June 30, 2024, on Thursday, August 8, 2024. The company will post the quarterly results on its investor relations website at https://investors.bensonhill.com. This announcement serves as a notification to investors and analysts about the upcoming earnings release date, allowing them to prepare for the financial disclosure and any potential market reactions.
Benson Hill (NYSE: BHIL), a seed innovation company, has announced a one-for-thirty five (1-for-35) reverse stock split following stockholder approval. The split will take effect at 4:01 p.m. Eastern Time on July 18, 2024, and will be reflected in NYSE trading on July 19, 2024. This move aims to regain compliance with NYSE's continued listing requirements, which mandate a minimum average closing price of $1.00 per share over any 30 consecutive trading days.
The reverse split will reduce the total number of outstanding shares from approximately 213 million to 6 million. It will not change the number of authorized shares, voting power, or other fundamental aspects of the company's structure. No fractional shares will be issued; instead, cash payments will be made for fractional entitlements.
Benson Hill (NYSE: BHIL) has announced advancements in its innovation pipeline for soybean traits targeting animal feed, soybean oil, and biofuel markets. The company aims to redefine U.S. soy with new varieties offering novel benefits across the agribusiness value chain. Key highlights include:
1. Herbicide-tolerant Ultra-High Protein Low-Oligosaccharide (UHP-LO) soybean varieties expected by 2026, a year earlier than planned.
2. Soybean varieties for biofuels launching between 2028 and 2030.
3. Expansion of soybean portfolio to approximately 35 varieties by 2025.
4. Development of 'dual value beans' that can deliver improved soybean meal with better quality oil for consumption or biofuels.
Benson Hill's competitive edge lies in its proprietary genetics, CropOS® AI-driven platform, and Crop Accelerator facility, enabling rapid advancements in yield, protein content, and maturity zones since 2019.
Benson Hill (NYSE: BHIL) has released its third annual ESG Report, highlighting its 2023 milestones and achievements in environmental, social, and governance areas. This year, Benson Hill has transitioned from an asset-heavy model to an asset-light one, focusing on licensing and partnerships to scale operations efficiently. CEO Deanie Elsner emphasized the company's commitment to ESG principles, innovation in soy quality traits, and meeting global demand for nutritious and sustainable feed, food, and fuel.
The report outlines significant business transformations, such as expanded market opportunities in feed and fuel, and the successful divestiture of soy processing assets. Key partnerships include collaborations with BioMar and Corteva Agriscience, as well as the recognition of technology leader Bob Koester with the Mockler Innovator Award. The company also detailed its intellectual property strategy and innovation platforms aimed at driving growth in various market segments. For comprehensive insights, visit Benson Hill's impact page.
Benson Hill has received a preliminary, non-binding interest from Argonautic Ventures to acquire all outstanding shares not owned by the Investor Group for $0.2236 per share in cash. Currently, the Investor Group and its affiliates own about 16% of Benson Hill's common stock.
The Board of Directors has formed a special committee to review strategic alternatives, retaining Piper Sandler & Co. as its financial advisor and Foley Hoag LLP as its legal advisor. The review will include due diligence and negotiation of definitive transaction documents.
No assurance is given that any transaction will occur, and further announcements will be made only if a specific transaction is approved or deemed necessary by the Board.
Benson Hill announced a transition to a licensing model, reporting revenues of $21.1 million with improved gross profit and reduced operating expenses. The company strengthened its balance sheet, divesting processing assets, retiring high-cost debt, and expanding partnerships. Strategic milestones were achieved, focusing on innovative soybean varieties, cost-effective animal feed solutions, and talent acquisitions. Despite a decrease in reported revenues, Benson Hill's profitability improved, with a focus on high-margin contracts.
Benson Hill, Inc. has appointed Dan Cosgrove as Chief Administrative Officer and General Counsel, effective May 10, 2024. Cosgrove, a former CEO of Growers Edge, brings extensive experience in the agriculture industry and will be responsible for business development, compliance, and legal matters at Benson Hill. The company aims to leverage his expertise to drive strategic initiatives and transition to an asset-light business model.
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