Bioceres Crop Solutions Corp. (NASDAQ:BIOX) reported a $179 million impairment charge after its Pro Farm assets were foreclosed and sold at auction for $15 million on January 20, 2026. The assets had previously been carried on the company’s books at roughly $194 million.
The Argentina-based agricultural technology firm also disclosed in its fiscal second-quarter 2026 filing, covering the six months ended December 31, 2025, that there is substantial doubt about its ability to continue as a going concern. Chief Executive Officer Federico Trucco said the company is pursuing legal action related to the foreclosure process while continuing negotiations with noteholders regarding a potential transition arrangement.
The Pro Farm operations—mainly located in the United States and Europe—have now been classified as discontinued operations. Bioceres noted that the foreclosure process has not yet been fully finalized, and the company has not determined the remaining debt balance after accounting for the $15 million auction proceeds.
For its ongoing businesses, Bioceres reported consolidated gross margins of 40% year-to-date across its crop protection, crop nutrition and seed divisions, matching levels recorded in the previous year. The company cited difficult market conditions, including weaker commodity prices and tighter credit, which have affected the financial position of farmers in Argentina.
Bioceres said it is currently in talks with Argentine financial institutions to refinance outstanding obligations and is also evaluating potential asset sales. In February 2026, its subsidiary Rizobacter Argentina S.A. successfully refinanced its Series VIII Class B corporate bonds, extending their maturity.
During the second quarter of fiscal 2026, Bioceres also added two independent directors to its board. The board has instructed management to prepare a three-year financial plan for the remaining business, excluding the Pro Farm assets, with a focus on improving profitability and strengthening cash flow.
The information was disclosed in a company press release accompanying its Form 6-K filing.