Key Takeaways
- Farmers Edge introduces Managed Technology Services, offering comprehensive support for digital agriculture’s evolving needs.
- The services target challenges in farm productivity, crop insurance, supply chain optimization, and sustainability reporting.
- The solution aims to reduce technology costs by 30-50%, optimize disconnected tech stacks, and streamline digital transformation.
- Strategic partnerships with organizations like Fairfax Digital Services and TEKSystems enhance service delivery.
- Farmers Edge solutions are already being implemented by organizations like National Sorghum Producers, GEVO, and Saskatchewan Municipal Hail Insurance.
Farmers Edge™, a leader in digital agriculture, has announced the launch of Managed Technology Services, a first-of-its-kind offering to address agriculture’s most pressing technology challenges. Designed for global insurers, agribusinesses, and financial institutions, these services streamline technology adoption and integration in response to rising costs, fragmented systems, and complex transitions to digital platforms.
Comprehensive Solutions for AgTech’s Key Challenges
The Managed Technology Services include:
- Technology Consulting and Outsourcing
- Data Licensing and Custom Development
- Support for verticals like farm productivity, risk management, supply chain optimization, and sustainability reporting.
Vibhore Arora, CEO of Farmers Edge, highlighted the program’s value: “Our Managed Services redefine how agribusinesses adopt and integrate technology. As a strategic partner, we deliver end-to-end lifecycle support—simplifying processes, resolving challenges, and empowering clients to harness technology into a catalyst of growth and innovation.”
Addressing Three Core Challenges
Farmers Edge’s Managed Technology Services aim to solve the following:
- Cost Management: By reducing technology spend by 30-50%, the service enables agribusinesses to achieve financial visibility while scaling operations. Farmers Edge combines in-house expertise in agronomy, insurance, and sustainability to provide tailored, cost-effective solutions.
- Disconnected Tech Stacks” Many organizations face challenges with fragmented systems and data silos. Farmers Edge integrates proprietary tools like AI/ML models, licensed SaaS products, Carbon Intensity (CI) Scoring, and ESG data reporting into cohesive solutions that enhance business performance and customer experience.
- Change Management” Supported by partnerships with advisory firms such as Fairfax Digital Services, TEKSystems, and Tata Consultancy Services, Farmers Edge ensures seamless digital transformation. The approach goes beyond standard SaaS models, providing tailored support for agricultural enterprises.
Proven Impact with Industry Partnerships
Farmers Edge has already partnered with leading organizations to deliver innovative solutions:
- National Sorghum Producers: Technology supports climate-smart crop production, qualifying growers for government grants.
- GEVO: Customized Carbon Intensity Scoring solutions bring transparency from field to bin.
- Saskatchewan Municipal Hail Insurance: Advanced analytics streamline hail claims and improve customer experiences.
Farmers Edge Latest News
Discover the company’s profile in our directory here.
Partners With National Sorghum Producers (2024/05/30)
Farmers Edge and the National Sorghum Producers have teamed up to advance sustainable farming practices among sorghum growers. The collaboration aims to integrate advanced technology solutions to capture essential on-farm data, including Carbon Intensity (CI) scoring. By leveraging Farmers Edge’s end-to-end platform, FarmCommand®, growers can make more informed management decisions, monitor and improve their CI scores, and collaborate with NSP to extract and export data verifying their environmental impact. This partnership supports the National Sorghum Producers’ commitment to driving sustainable agriculture forward and ensuring growers have the resources they need to thrive.
Initiate Pilot Project to Enhance Crop Insurance Processes With SMHI (2024/05/02)
Farmers Edge Inc. has partnered with Saskatchewan Municipal Hail Insurance (SMHI) in a pilot project to improve crop insurance processes using advanced technology. SMHI, known for its crop hail insurance, aims to enhance risk monitoring and claims adjustments with the help of Farmers Edge’s analytical tools and insights. CEOs of both companies expressed excitement about the collaboration, emphasizing the value it brings to their businesses.
Successfully Defends Against Patent Infringement Suit (2024/04/15)
Farmers Edge Inc. has been vindicated in a patent infringement lawsuit brought against it by AGI SureTrack, LLC. The court ruled that the patents claimed by AGI were invalid, reinforcing the legal protections afforded to innovative practices in agriculture technology. The ruling dismissed the validity of the patents, highlighting the robustness of Farmers Edge’s legal and innovative position.
Unites With Gevo for Climate-Smart Agriculture (2024/04/10)
Farmers Edge and Gevo have partnered for the Gevo’s Climate-Smart Farm-to-Flight project. They want to advance the production of Sustainable Aviation Fuel and low carbon-intensity ethanol by enhancing climate-smart agricultural practices. The project is supported by a $30M grant from the USDA’s Climate-Smart initiative.
FairFax To Acquire All Outstanding Common Shares (2024/03/18)
Farmers Edge Inc. (TSX: FDGE) has announced that Fairfax Financial Holdings Limited’s subsidiary, 15635594 Canada Inc., will acquire all of the outstanding common shares of Farmers Edge except for shares held by FFHL, its affiliates, and the company’s CEO. The acquisition is structured at a purchase price of $0.35 in cash per common share. Fairfax already holds approximately 61.2% of the outstanding common shares. Shareholders approved the plan of arrangement in a special meeting held on March 15, 2024. The detailed report of the voting results is available on the company’s SEDAR+ profile. Farmers Edge is now set to seek a final order from the Court of King’s Bench of Manitoba, with the acquisition expected to be completed in March 2024.
Expands Credit Facility to Support Growth (2024/01/22)
Farmers Edge Inc. has announced an amendment to its secured credit facility with Fairfax Financial Holdings Limited, involving various affiliates. The amendment entails an increase of $12 million in the facility, taking the total principal amount to $93.37 million. The net proceeds from the increased facility are earmarked for use in working capital and general corporate purposes. The transaction was approved by the independent directors on the Board of Directors of Farmers Edge and was accepted by the Toronto Stock Exchange under section 501(c) of the TSX Company Manual.
Fairfax Offers Premium Price (2024/01/09)
Farmers Edge recently announced a revised acquisition proposal from Fairfax Financial Holdings to acquire all common shares of Farmers Edge. The revised offer price is $0.35 per share, representing a 40% increase from the original proposal. The Board, advised by the Independent Committee, believes the transaction is in the Company’s best interest. The transaction is subject to final approvals, a definitive agreement, and a Fairness Opinion from BMO Capital Markets. The completion of the transaction is contingent upon various conditions, including regulatory, court, and stock exchange approvals and a special meeting for shareholder approval.
Partners With Leaf Agriculture (2023/12/21)
Farmers Edge Inc. has announced a strategic partnership with Leaf Agriculture, aiming to revolutionize data integration in agriculture. This collaboration focuses on enhancing the integration of machine data, building upon Farmers Edge’s existing relationships with agricultural giants like John Deere and Case IH. By incorporating Leaf Agriculture’s technology, the partnership promises to streamline farming operations through advanced data management, emphasizing data transparency and farmer control. Both companies, committed to transforming agricultural data usage, expect this alliance to bring significant value to farmers by enabling more informed decision-making and optimizing agricultural practices.
Reports Financial Results for the Third Quarter of 2023 (2023/11/09)
Farmers Edge Inc. (TSX: FDGE) announced its financial results for Q3 and 9M ending September 30, 2023. The company has shown a 30% improvement in Adjusted EBITDA deficiency over Q3 2022, a 25% improvement for the nine months ending on the same date. Revenue per acre in Annual Recurring Revenue (ARR) saw a 14% increase in 2023. Digital Agronomy Acres decreased by 20% in Q3 2023 due to the discontinuation of low-value acres in Brazil and expiring contracts. The company has partnered with Claro, one of Latin America’s largest telecommunications providers, to introduce digital solutions to the Brazilian agricultural community, targeting over 600,000 acres in 2024. Despite the challenging financial conditions, Farmers Edge’s partnership with Claro and continued focus on cost-reduction strategies showcase the company’s resilience and adaptability in the digital agriculture market.
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Reports Second Quarter 2023 Results
Farmers Edge Inc. reports its Q2 results for 2023. The Q2 Adjusted EBITDA deficiency improved by 29% and 23% for the three and six-month periods, respectively. The Company has achieved $20 million in annualized cost savings and implemented a plan to drive annualized cash flow savings of another $20 million. Acre profitability remains a top priority. ARR on June 30, 2023, was $23.5 million. Vibhore Arora, CEO of Farmers Edge, said that the company remains focused on driving top-line growth.
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Reports Q1 2023 Results
Farmers Edge Inc. (TSX: FDGE), a digital agriculture company, reported Q1 2023 results. The company is on track to achieve $20M in annualized cost savings and saw improvements in Adjusted EBITDA and Free Cash Flow deficiencies. Digital Agronomy Acres were 7.5M, with new acres sold of 0.1M and discontinued acres of 2.4M. ARR on March 31, 2023, was $27.9M. The company launched new pricing and product offerings to drive revenue growth, and the CEO expects positive results in the near term.
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Announce Q4 2022 Financial Results (2023/03/15)
Farmers Edge, a digital agriculture company, reported Q4 and year-end financial results. The company reduced its adjusted free cash flow deficit by 56% YoY through cost reduction programs to deliver $20M in savings. Although revenues were slightly lower compared to 2021, Farmers Edge plans to improve profitability through technology solutions and partnerships. Crop-input e-commerce sales were affected, but management expects a recovery in Q1 2023. The company sold 0.2 million acres of New Digital Agronomy for Q4 2022 and 3.5 million acres, including 1.7 million non-paying PGP acres, for the year to date.
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