As per the 2022 Annual Report, Farmers Edge had a "carry value of $2.76 per share (versus market value of $0.20)". The current market value of FDGE is $0.13 before the privatization offer was announced today for $0.25. This was a ride to the bottom. Hopefully they can turn the ship around.
This is what they said about FDGE on the 2022 AR:
"Farmers Edge had a very challenging year in 2022. Unfortunately, the performance since the IPO in 2021 has been extremely disappointing. Vibhore Arora, former Country Leader of Amazon Canada, took over as CEO of Farmers Edge in June with the goal of growing new acres, improving execution, product delivery and the customer experience, building enterprise partnerships and a new management team and right sizing the cost structure. We are very excited about the initiatives taken already to move the business on a pathway towards positive cash flow generation. FarmCommand is a leading precision farming application and we are pleased to see that Vibhore has been successful at refining the business strategy, which is key for reducing the cash burn rate and bringing in new elements for future success."