Mission Produce, Inc.

Listed Company

AVOCIK 0001802974NasdaqAcceleratedAgricultural ServicesDelawareFY ends Oct 31

Period

FY 2025

Revenue

$1.39B

Net Income

$37.70M

Total Assets

$983.00M

Equity

$587.30M

Shares Out

70.85M

Op. Cash Flow

$88.60M

Business

Mission Produce, Inc. is a global avocado company that farms, packages, markets and distributes avocados to retailers, distributors and wholesalers worldwide. It primarily sells Hass avocados and offers ripening (five-stage), packing, bagging, custom packaging, logistics and merchandising support, and markets limited volumes of mangos and blueberries. Its three segments are Marketing & Distribution, International Farming (orchards and packing services) and Blueberries (sold through an exclusive distributor). It distributes through packing and forward centers across North America, Mexico, Peru, China, Europe and the U.K., serving retail, wholesale and foodservice channels.

Summary from filing dated 2025-12-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Net sales	1,391	1,235	954	1,046	892
Cost of sales	1,231	1,082	871	956	767
Gross profit	161	153	83	90	125
Selling, general and administrative expenses	96	87	76	78	64
Operating income	65	66	7	−37	61
Interest expense	−9	−13	−12	−6	—
Equity method income	5	4	4	5	8
Other income (expense), net	700,000	4	−200,000	4	1
Income (loss) before income taxes	62	60	−900,000	−31	66
Provision for income taxes	21	19	2	4	21
Net income (loss)	41	42	−3	−35	45
Net income (loss) attributable to noncontrolling interest	3	5	−300,000	−300,000	0
Net income (loss) attributable to Mission Produce	38	37	−3	−35	45
Basic (in dollars per share)	0.53	0.52	−0.04	−0.49	0.64
Diluted (in dollars per share)	0.53	0.52	−0.04	−0.49	0.63

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2022 2022-04-30
Cash and cash equivalents	65	58	43	53	—
Restricted cash	2	1	300,000	1	—
Trade, net of allowances of $0.7 and $0.8, respectively	81	95	74	63	—
Grower and fruit advances	3	2	900,000	2	—
Other	15	15	12	17	—
Inventory	81	91	71	73	—
Prepaid expenses and other current assets	9	9	9	11	—
Income taxes receivable	9	7	10	8	—
Total current assets	262	279	220	228	—
Property, plant and equipment, net	542	523	523	490	—
Operating lease right-of-use assets	68	68	72	65	—
Equity method investees	35	33	31	27	—
Deferred income tax assets, net	10	10	9	8	—
Goodwill	39	39	39	39	13
Other assets	27	19	20	20	—
Total assets	983	972	915	880	—
Accounts payable	47	35	27	34	—
Accrued expenses	39	40	26	30	—
Income taxes payable	7	8	2	1	—
Grower payables	24	50	26	24	—
Short-term borrowings	5	3	3	—	—
Notes payable	0	500,000	0	—	—
Loans from noncontrolling interest holderscurrent portion	200,000	100,000	500,000	0	—
Long-term debtcurrent portion	3	3	3	4	—
Operating leasescurrent portion	7	6	7	5	—
Finance leasescurrent portion	3	3	3	1	—
Total current liabilities	135	149	98	102	—
Long-term debt, net of current portion	93	111	149	137	—
Loans from noncontrolling interest holders, net of current portion	900,000	2	3	1	—
Operating leases, net of current portion	68	67	71	64	—
Finance leases, net of current portion	22	22	15	1	—
Income taxes payable	0	1	2	3	—
Deferred income tax liabilities, net	19	17	24	29	—
Other long-term liabilities	26	26	26	19	—
Total liabilities	363	394	387	357	—
Commitments and contingencies (Note 10)	—	—	—	—	—
Common stock ($0.001 par value, 1,000,000,000 shares authorized; 70,569,517 and 70,914,767 shares issued and outstanding as of October 31, 2025 and 2024, respectively)	100,000	100,000	100,000	100,000	—
Additional paid-in capital	247	240	233	229	—
Accumulated other comprehensive income (loss)	600,000	−200,000	−900,000	−2	—
Retained earnings	339	308	271	274	—
Mission Produce shareholders' equity	587	547	504	502	—
Noncontrolling interest	33	30	25	21	—
Total equity	620	577	528	523	—
Total liabilities and equity	983	972	915	880	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
(Benefit) provision for losses on accounts receivable	−100,000	0	100,000	100,000	0
Depreciation and amortization	35	38	33	25	20
Amortization of debt issuance costs	200,000	200,000	200,000	300,000	300,000
Noncash lease expense	7	6	6	5	4
Stock-based compensation	9	7	5	4	3
Dividends received from equity method investees	4	3	3	2	2
Losses on asset impairment, disposals and sales, net of insurance recoveries	4	4	1	400,000	100,000
Gains on settlement of asset retirement obligations	−800,000	0	0	—	—
Deferred income taxes	2	−8	−6	−600,000	9
Unrealized losses (gains) on foreign currency transactions	1	−2	1	0	0
Unrealized loss on derivative financial instruments	0	100,000	−100,000	−5	−800,000
Other	0	−400,000	100,000	100,000	−100,000
Trade accounts receivable	15	−21	−11	11	−16
Grower fruit advances	−1	−800,000	900,000	−1	800,000
Other receivables	1	−3	5	−2	3
Inventory	11	−19	3	−15	−11
Prepaid expenses and other current assets	800,000	−200,000	2	−400,000	−3
Income taxes receivable	−2	3	−2	−1	−4
Other assets	−8	2	1	200,000	−4
Accounts payable and accrued expenses	12	25	−9	9	9
Income taxes payable	−2	5	−200,000	−1	−100,000
Grower payables	−27	24	2	2	3
Operating lease liabilities	−6	−5	−4	−4	−3
Other long-term liabilities	−1	−2	5	−500,000	−3
Net cash provided by operating activities	89	93	29	35	47
Purchases of property, plant and equipment	−51	−32	−50	−61	−73
Proceeds from sale of property, plant and equipment	100,000	100,000	200,000	3	2
Investment in equity method investees	0	−2	−2	−400,000	−200,000
Purchase of other investment	0	0	−2	0	0
Other	−600,000	200,000	−100,000	−100,000	300,000
Net cash used in investing activities	−52	−34	−54	−51	−70
Borrowings on revolving credit facility	55	40	145	80	0
Payments on revolving credit facility	−70	−75	−130	−40	0
Proceeds from short-term borrowings	10	3	3	3	0
Repayment of short-term borrowings	−11	−3	−3	0	0
Principal payments on long-term debt obligations	−3	−3	−4	−63	−11
Principal payments on finance lease obligations	−1	−2	−3	−1	−1
Proceeds from loan from noncontrolling interest holder	0	0	2	0	0
Principal payments on loans due to noncontrolling interest holder	0	−500,000	0	0	—
Payments to noncontrolling interest holder for long-term supply financing	−1	−2	0	0	—
Payments for long-term supplier financing	−1	−500,000	−100,000	0	0
Repurchase and retirement of common stock	−6	0	−600,000	0	0
Taxes paid related to shares withheld from the settlement of equity awards	−2	−800,000	−500,000	0	0
Exercise of stock options	300,000	0	100,000	100,000	200,000
Equity contributions from noncontrolling interest holders	0	0	4	900,000	0
Net cash (used in) provided by financing activities	−30	−44	14	−22	−12
Effect of exchange rate changes on cash	0	0	−100,000	−300,000	0
Net increase (decrease) in cash, cash equivalents and restricted cash	7	16	−11	−38	−35
Interest	9	12	12	6	4
Income taxes	23	20	7	6	15
Property, plant and equipment included in liabilities	7	5	5	8	3
Advances for property, plant and equipment included in assets	900,000	2	700,000	2	1
Finance leases of property, plant and equipment	2	8	16	500,000	0
Purchases from noncontrolling interest holder made with payment terms greater than 90 days	0	300,000	0	0	—
Purchases from suppliers with payment terms greater than 90 days	2	0	1	0	0

Filings

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