It seems huge, sweeping technological changes are coming too fast and furious to keep up with.
In just the last year, the stock market has shown love to the electric vehicle revolution, companies that facilitate the new work-from-anywhere norm and AI-driven apps that do everything from simplifying insurance to instantly sell your car.
But there’s one industry that remains out of headlines and market gossip. Yet, it is undergoing its largest technological revolution since the cotton gin: agriculture.
Back in August, I introduced the idea of Precision Agriculture Software (PAS). At that time, ag giant Corteva Inc. (NYSE: CTVA) was one of the few on the market offering this new technology to farmers.
This week, another much smaller but more focused company announced its IPO. And the growth opportunity this business has in front of it is mind-boggling.
With 7.8 billion mouths to feed around the world, water scarcity in every corner of it and frequent crop failures and trade embargos, farmers have simply not been doing a good enough job.
It’s not necessarily their fault.
It’s just that Silicon Valley and other entrepreneurs around the planet have been focused on exciting technologies like those listed above. Few have put in the time and effort to bring today’s lightning-fast communication and computational advancements to the ag industry.
Though, in some small corners, that is happening on a smaller scale.
PAS is the technology that allows farmers to gather and connect billions of data points about weather conditions, water saturation, soil composition and crop productivity into a comprehensive database.
From there, it can suggest which fields need tending, fertilized and protected.
It may seem like a simple thing. Something farmers have instinctually known for centuries. But when applied so exactly and scientifically, it can have a huge impact on yields.
In August, I noted that investors needed to start paying attention to Corteva’s Granular business, which does exactly this. Some investors, it seems, did get that wake-up call:
But there is one problem with this entry into PAS from the investor side: to invest in Corteva’s Granular business, you would also have to invest in its many other segments like seeds, crop protection, inoculants, etc.
One small company, however, is opening the door to pursue the rapid adoption of PAS without all of Corteva’s other baggage.
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This week, Farmers Edge Inc. announced plans to go public through an IPO in Canada.
Farmers Edge is not a new company. It has been around since 2005. But as its technology and PAS adoption have boomed in its industry, the company is just now seeing enormous growth.
According to its IPO marketing materials, the PAS pure-play saw 95% sales growth last year for its subscription service to the technology. The number of acres covered by its tech also grew 57%.
And its customers are more than pleased with the results so far. In some cases, farmers reported yield improvement of 32% and returns on investment of more than 1,000%.
This is even better than what Corteva has been putting out.
Farmers Edge will most likely begin trading on the Canadian Stock Exchange sometime in the next month or two.
It will likely also begin trading over-the-counter here in the U.S.
When it goes live, this is an easy buying opportunity.
With this kind of growth, this kind of technological revolution in our most basic and important of industries and the sheer size of the opportunity (immediately addressable market of $12 billion), you’ll want Farmers Edge in your portfolio as soon as you can get it.
To your prosperity and health,
Joshua M. Belanger