Company: SDSYA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001163609-25-000032
Chunk: 26

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 26
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 2024.

Other Non-Operating Income – Other non-operating income (expense), including patronage dividend income, decreased $2.9 million during the nine-month period ended September 30, 2025, compared to the same period in 2024. The decrease in other non-operating income was due to a $3.5 million decrease in interest income which we 

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received from the deposit of investment proceeds received by our subsidiaries in connection with their equity financing of the High Plains Processing plant.

Net Income/Loss – During the nine-month period ended September 30, 2025, we generated a net income of $14.2 million, compared to $11.5 million for the same period in 2024. The $2.7 million increase was primarily attributable to an increase in gross margins, partially offset by a decrease in interest income.

LIQUIDITY AND CAPITAL RESOURCES

Our primary sources of liquidity are cash generated from operations and borrowings from our two revolving lines of credit, which are discussed in the section titled “Indebtedness.” As of September 30, 2025, we had working capital, defined as current assets less current liabilities, of approximately $34.2 million, compared to $59.1 million on September 30, 2024. Working capital decreased between periods primarily due to expenditures related to the construction and development of the High Plains Processing plant, of which we have a controlling ownership interest through our subsidiaries.

Comparison of the Nine Months Ended September 30, 2025 and 2024

 20252024Net cash provide by (used for) operating activities$(17,116,213)$21,222,616 Net cash used for investing activities(158,613,570)(102,876,195)Net cash provided by financing activities148,747,945 68,038,924 

Cash Flows Provided By (Used For) Operations

The $38.3 million change in cash flows provided by (used for) operating activities was largely due to a $36.8 million increase in inventories and a decrease in contract liabilities of approximately $10.2 million, offset by a $14.6 million increase in accrued commodity purchases,

Cash Flows Used For Investing Activities

The $55.7 million increase in cash flows used for investing activities during the nine-month period ended September 30, 2025, compared to the same period in 2024, was due to an increase in expenditures for purchases of various