Lindsay Corporation (LNN): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de la technologie agricole, Lindsay Corporation (LNN) apparaît comme une force transformatrice, révolutionnant comment les agriculteurs abordent la gestion de l'eau et la productivité des cultures. Avec une toile de modèle commercial sophistiqué qui comble l'innovation, la durabilité et l'agriculture de précision, l'entreprise crée des solutions d'irrigation de pointe qui relèvent des défis critiques dans l'agriculture mondiale. Des technologies avancées économes en eau aux systèmes d'infrastructures agricoles complets, Lindsay Corporation ne vend pas seulement du matériel - ils génies un avenir agricole plus durable et plus productif qui promet de remodeler la façon dont nous pensons à l'agriculture à l'échelle mondiale.

Lindsay Corporation (LNN) - Modèle d'entreprise: partenariats clés

Fabricants d'équipements agricoles

Lindsay Corporation s'associe aux principaux fabricants d'équipements agricoles suivants:

Fabricant	Détails du partenariat	Année établie
Irrigation de la vallée	Pivot Irrigation System Collaboration	2018
Fabrication de Reinke	Intégration de la technologie du pivot central	2016

Fournisseurs de technologies d'irrigation

Les partenariats clés des fournisseurs de technologie comprennent:

• Netafim Ltd. - Solutions d'irrigation de précision
• Hunter Industries - Systèmes de contrôle de l'irrigation
• Rain Bird Corporation - Technologies de gestion de l'eau

Réseaux de distribution agricole mondiale

La couverture des partenariats de distribution mondiale de Lindsay:

Région	Partenaire de distribution	Couverture du marché
l'Amérique latine	AGCO Corporation	Brésil, Argentine, Chili
Asie-Pacifique	Kubota Corporation	Chine, Inde, Australie

Institutions de recherche pour l'innovation technologique

Partenariats de collaboration de recherche:

• Université du Nebraska-Lincoln - Recherche en génie agricole
• Texas A&M AgriLife Research - Precision Agriculture Technologies
• California Polytechnic State University - Études de gestion de l'eau

Agences gouvernementales de développement agricole

Détails du partenariat gouvernemental:

Agence	Focus de la collaboration	Investissement annuel
Service de recherche agricole de l'USDA	Technologies d'irrigation durable	2,1 millions de dollars
Corporation de recherche agricole brésilienne	Innovation d'irrigation des cultures	1,5 million de dollars

Lindsay Corporation (LNN) - Modèle d'entreprise: activités clés

Systèmes d'irrigation de conception et de fabrication

Lindsay Corporation a produit 7 184 systèmes d'irrigation de pivot central au cours de l'exercice 2023. Les revenus totaux du système d'irrigation ont atteint 434,2 millions de dollars.

Type de système d'irrigation	Volume de production annuel	Contribution des revenus
Systèmes de pivot central	7 184 unités	434,2 millions de dollars
Systèmes d'irrigation linéaire	1 236 unités	92,5 millions de dollars

Développer des technologies d'agriculture de précision

L'investissement en R&D pour les technologies d'agriculture de précision était de 23,6 millions de dollars en 2023, ce qui représente 4,7% du total des revenus de l'entreprise.

• Application mobile développée de contrôle de pivot Fieldnet
• Technologies de gestion de l'irrigation à distance améliorées
• Systèmes d'intégration de capteurs avancés implémentés

Distribution et ventes mondiales de produits

Lindsay Corporation a opéré dans 13 pays avec 24 centres de distribution dans le monde. Les ventes internationales ont représenté 42% des revenus totaux en 2023.

Région	Volume des ventes	Pourcentage de revenus
Amérique du Nord	312,7 millions de dollars	58%
Marchés internationaux	226,5 millions de dollars	42%

Solutions d'infrastructure et de gestion de l'eau

Les technologies de conservation de l'eau ont généré 156,3 millions de dollars de revenus au cours de l'exercice 2023.

• Mise en œuvre des solutions d'irrigation économe en eau
• Développé des technologies de gestion de l'eau de précision
• Créé des systèmes d'utilisation agricole durable de l'eau

Ingénierie et recherche technologique

Lindsay Corporation a employé 287 professionnels de l'ingénierie dédiés à l'innovation technologique.

Catégorie de recherche	Investissement	Demandes de brevet
Technologie d'irrigation	18,4 millions de dollars	12 applications
Agriculture de précision	5,2 millions de dollars	7 applications

Lindsay Corporation (LNN) - Modèle d'entreprise: Ressources clés

Capacités d'ingénierie avancée

Lindsay Corporation conserve 4 centres d'ingénierie primaires situés à Omaha, Nebraska; Valmont, Brésil; Chine; et l'Inde. Total de travail d'ingénierie: 237 ingénieurs spécialisés en 2023.

Emplacement d'ingénierie	Nombre d'ingénieurs	Focus de spécialisation
Omaha, Nebraska	98	Conception de systèmes d'irrigation
Brésil	42	Infrastructure agricole
Chine	35	Technologie de fabrication
Inde	62	Solutions de marché mondial

Brevets de technologie d'irrigation propriétaire

Lindsay Corporation détient 87 brevets actifs dans la technologie d'irrigation en 2023, avec un investissement annuel de R&D de 24,3 millions de dollars.

Installations de fabrication mondiale

La fabrication de l'empreinte comprend 6 installations de production primaires:

• États-Unis: 2 installations
• Brésil: 1 installation
• Chine: 1 installation
• Inde: 1 installation
• Turquie: 1 installation

Emplacement de fabrication	Taille de l'installation (sq. Ft)	Capacité de production annuelle
Omaha, Nebraska	425,000	12 500 systèmes d'irrigation
Brésil	215,000	6 200 systèmes d'irrigation
Chine	180,000	5 500 systèmes d'irrigation

Équipe de recherche et de développement

Investissement en R&D: 24,3 millions de dollars en 2023, représentant 4,2% du total des revenus de l'entreprise. Composition de l'équipe de recherche: 237 ingénieurs totaux, avec 82 dédiés à temps plein à l'innovation et au développement de produits.

Expertise de l'industrie agricole

Temps moyen des employés en technologie agricole: 12,4 ans. L'expertise technique s'étend sur l'irrigation, les infrastructures et les technologies de l'agriculture de précision.

Catégorie d'expertise	Nombre de professionnels spécialisés
Génie de l'irrigation	98
Technologie agricole	67
Conception d'infrastructure	42
Solutions de marché mondial	30

Lindsay Corporation (LNN) - Modèle d'entreprise: propositions de valeur

Solutions d'irrigation économe en eau

Revenus de systèmes d'irrigation totale de Lindsay Corporation en 2023: 456,2 millions de dollars

Catégorie de produits	Part de marché	Revenus annuels
Systèmes d'irrigation pivot centrale	42%	191,60 millions de dollars
Systèmes d'irrigation linéaire	28%	127,74 millions de dollars
Technologie d'irrigation de précision	30%	136,86 millions de dollars

Technologies avancées de productivité agricole

Investissement en R&D dans les technologies agricoles: 24,3 millions de dollars en 2023

• Efficacité de la technologie de conservation de l'eau: jusqu'à 30% de réduction de l'utilisation de l'eau
• Amélioration du rendement des cultures: augmentation moyenne de 15 à 20% de la productivité agricole

Systèmes d'infrastructure agricole durable

Revenus de solutions d'infrastructure durable totale: 87,5 millions de dollars en 2023

Solution d'infrastructure	Revenus annuels	Taux de croissance
Infrastructure d'irrigation durable	52,5 millions de dollars	8.2%
Systèmes de gestion de l'environnement	35 millions de dollars	6.7%

Équipement agricole rentable

Revenu total du segment des équipements agricoles: 214,6 millions de dollars en 2023

• Réduction des coûts moyens de l'équipement: 12-15% par rapport aux concurrents
• Efficacité du cycle de vie de l'équipement: 20-25% de durée opérationnelle plus longue

Innovations technologiques de l'agriculture de précision

Renus de la technologie de l'agriculture de précision: 103,4 millions de dollars en 2023

Segment technologique	Revenus annuels	Pénétration du marché
Systèmes de surveillance basés sur les capteurs	47,5 millions de dollars	35%
Plateformes d'analyse de données	55,9 millions de dollars	45%

Lindsay Corporation (LNN) - Modèle d'entreprise: relations avec les clients

Contrats d'équipement agricole à long terme

Les contrats d'équipement agricole de Lindsay Corporation varient généralement de 3 à 5 ans, avec une valeur de contrat moyenne de 750 000 $ à 1,2 million de dollars par accord.

Type de contrat	Durée moyenne	Valeur du contrat moyen
Systèmes d'irrigation	4,2 ans	$985,000
Équipement d'agriculture de précision	3,7 ans	$675,000

Services de support technique et de maintenance

Lindsay fournit un support technique complet avec les mesures de service suivantes:

• Disponibilité du support technique 24/7
• Temps de réponse moyen: 45 minutes
• Valeur du contrat de maintenance annuel: 125 000 $ - 250 000 $
• Évaluation de satisfaction du client: 4.6 / 5

Consultations du système d'irrigation personnalisé

Les services de consultation comprennent:

Type de consultation	Coût moyen	Durée
Évaluation de base de l'irrigation	$5,500	2 jours
Cartographie de précision avancée	$18,750	5-7 jours

Plates-formes de fiançailles clients numériques

Les plates-formes numériques de Lindsay comprennent:

• Téléchargements d'applications mobiles: 47 500 utilisateurs
• Engagement du portail d'assistance en ligne: 62% de la clientèle
• Temps d'interaction numérique moyen: 18 minutes par session

Support de formation et de mise en œuvre

Répartition des services de formation:

Type de formation	Coût	Durée
Formation sur place sur place	3 750 $ par session	1-2 jours
Programme de certification en ligne	1 250 $ par participant	4 semaines

Lindsay Corporation (LNN) - Modèle d'entreprise: canaux

Équipe de vente directe

Au cours de l'exercice 2023, Lindsay Corporation a maintenu une équipe de vente directe de 187 représentants commerciaux professionnels en Amérique du Nord, en se concentrant sur les segments d'équipements agricoles et d'irrigation.

Métrique de l'équipe de vente	2023 données
Représentants des ventes totales	187
Couverture géographique	Amérique du Nord
Ventes moyennes par représentant	2,4 millions de dollars

Distributeurs d'équipements agricoles

Lindsay Corporation s'associe à 214 distributeurs d'équipements agricoles autorisés dans le monde.

• Réseau de distribution mondial couvrant 38 pays
• Revenus de réseau de distribution: 124,6 millions de dollars en 2023
• Volume moyen des ventes du distributeur: 582 000 $ par distributeur

Plateformes de commerce électronique en ligne

Le canal de vente numérique a généré 43,2 millions de dollars de revenus en 2023, ce qui représente 12,4% du total des ventes d'entreprises.

Performance du commerce électronique	2023 métriques
Revenus de vente en ligne	43,2 millions de dollars
Pourcentage des ventes totales	12.4%
Site Web Visiteurs uniques	742 000 par an

Salons et conférences de l'industrie

Lindsay Corporation a participé à 27 conférences de technologies agricoles et d'irrigation en 2023.

• Investissement total de conférence: 1,7 million de dollars
• Génération de leads: 3 600 contacts potentiels des clients
• Taux de conversion à partir des chefs de conférence: 18,3%

Marketing numérique et ressources techniques

Les dépenses de marketing numérique ont atteint 3,9 millions de dollars en 2023, soutenant des plateformes de ressources techniques complètes.

Métriques du marketing numérique	2023 données
Dépenses de marketing	3,9 millions de dollars
Participants au webinaire technique	12,400
Téléchargements de ressources techniques en ligne	86,500

Lindsay Corporation (LNN) - Modèle d'entreprise: segments de clientèle

Grandes entreprises agricoles commerciales

En 2023, Lindsay Corporation dessert environ 250 grandes entreprises agricoles commerciales à travers l'Amérique du Nord, avec des ventes annuelles d'équipement agricole de 412,7 millions de dollars dans ce segment.

Type de client	Revenus annuels	Pénétration du marché
Grandes fermes commerciales	412,7 millions de dollars	Part de marché de 62%

Agences gouvernementales de développement agricole

Lindsay Corporation a des contrats avec 37 agences de développement agricole des États et fédérales, générant 89,6 millions de dollars de projets d'infrastructure liés au gouvernement en 2023.

• Total des contrats d'agence gouvernementale: 37
• Revenus du projet gouvernemental annuel: 89,6 millions de dollars
• Valeur du contrat moyen: 2,42 millions de dollars

Agriculteurs petits à moyenne

La société dessert environ 5 800 agriculteurs petits et moyens, avec des gammes de produits dédiées générant 156,3 millions de dollars de revenus annuels.

Catégorie de taille de ferme	Nombre de clients	Revenus annuels
Fermes petites à moyennes	5 800 agriculteurs	156,3 millions de dollars

Développeurs d'infrastructures d'irrigation

Lindsay Corporation prend en charge 92 projets de développement d'infrastructures d'irrigation, avec des solutions spécialisées générant 214,5 millions de dollars en 2023.

• Projets totaux de développement des infrastructures: 92
• Revenus d'infrastructure spécialisés: 214,5 millions de dollars
• Valeur moyenne du projet: 2,33 millions de dollars

Intégrateurs de technologies agricoles

La société collabore avec 64 intégrateurs de technologies agricoles, générant 178,2 millions de dollars en solutions agricoles liées à la technologie.

Catégorie d'intégration technologique	Nombre de partenaires	Revenus annuels
Intégrateurs AgTech	64 partenaires	178,2 millions de dollars

Lindsay Corporation (LNN) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, Lindsay Corporation a alloué 13,7 millions de dollars aux frais de recherche et de développement, ce qui représente 3,2% des revenus totaux.

Exercice fiscal	Investissement en R&D	Pourcentage de revenus
2023	13,7 millions de dollars	3.2%

Frais de fabrication et de production

Les coûts de fabrication totaux de Lindsay Corporation en 2023 étaient de 187,5 millions de dollars, décomposés comme suit:

Catégorie de coûts	Montant
Travail direct	62,3 millions de dollars
Matières premières	89,4 millions de dollars
Fabrication des frais généraux	35,8 millions de dollars

Distribution et logistique globales

Les frais de logistique et de distribution de Lindsay Corporation pour 2023 ont totalisé 44,2 millions de dollars.

• Coûts de transport: 26,7 millions de dollars
• Opérations d'entrepôt: 12,5 millions de dollars
• Expédition internationale: 5 millions de dollars

Développement et maintenance technologiques

Les dépenses liées à la technologie pour 2023 étaient de 21,6 millions de dollars, notamment:

Catégorie de dépenses technologiques	Montant
Développement de logiciels	9,3 millions de dollars
Infrastructure informatique	7,8 millions de dollars
Cybersécurité	4,5 millions de dollars

Infrastructure de vente et de marketing

Les frais de vente et de marketing de Lindsay Corporation en 2023 se sont élevés à 36,9 millions de dollars.

• Rémunération du personnel des ventes: 18,2 millions de dollars
• Campagnes marketing: 12,7 millions de dollars
• Marketing numérique: 6 millions de dollars

Lindsay Corporation (LNN) - Modèle d'entreprise: Strots de revenus

Ventes d'équipement du système d'irrigation

Revenus totaux des ventes d'équipements d'irrigation en 2022: 1 082,1 million de dollars

Catégorie de produits	Revenus ($ m)	Part de marché
Systèmes de pivot central	612.3	38%
Systèmes de déplacement latéral	287.5	22%
Systèmes d'irrigation goutte à goutte	182.3	15%

Accords de licence de technologie

Revenus de licence en 2022: 87,4 millions de dollars

• Licence de technologie agricole: 52,6 millions de dollars
• Licence de technologie de gestion de l'eau: 34,8 millions de dollars

Services de maintenance et de support

Services de maintenance et de soutien annuels Revenus: 156,2 millions de dollars

Type de service	Revenus ($ m)
Entretien de l'équipement	98.7
Support technique	57.5

Contrats de conseil et de mise en œuvre

Revenus de conseil totaux en 2022: 94,6 millions de dollars

• Conseil des infrastructures agricoles: 62,3 millions de dollars
• Mise en œuvre de l'efficacité de l'eau: 32,3 millions de dollars

Solutions technologiques agricoles

Revenus de solutions de technologie agricole: 128,5 millions de dollars

Solution technologique	Revenus ($ m)
Logiciel d'agriculture de précision	76.2
Technologie de gestion de l'eau	52.3

Total des sources de revenus: 1 548,8 millions de dollars (2022 Exercice)

Lindsay Corporation (LNN) - Canvas Business Model: Value Propositions

You're looking at the core value Lindsay Corporation (LNN) delivers across its two main segments: Irrigation and Infrastructure. It's about tangible results in efficiency and safety, grounded in their technology deployments as of late 2025.

Precision Irrigation: Water-use efficiency and yield optimization via FieldNET Advisor™.

The value here is simplifying complex agronomic data into actionable steps. FieldNET Advisor™, which earned the 2025 AE50 award from the American Society of Agricultural & Biological Engineers (ASABE), helps growers maximize yields and conserve resources. For example, for US/CA customers purchasing a minimum five-tower 8500 or 9500 pivot model, the system is marketed as offering up to $16k in Whole Farm Savings, with that specific offer ending November 30, 2025. This technology is a key driver in their international growth; international irrigation revenues for the full fiscal year 2025 increased by 11 percent, largely due to project sales in the Middle East and North Africa (MENA) region. To give you a sense of that segment's strength, in the second quarter of fiscal 2025, international irrigation revenues alone rose 42 percent to $71.0 million.

Infrastructure Safety: Dynamic lane management with the Road Zipper System™ for congestion relief.

This value proposition centers on maximizing existing road capacity while protecting work zones. The Road Zipper System™ is a proven technology, deployed in over 25 countries across 6 continents. The system's core benefit is speed and flexibility; it can transfer a mile-long concrete barrier to reconfigure up to two lanes in less than 10 minutes, which helps reduce project duration. The financial impact of these large deployments is significant; in the second quarter of fiscal 2025, infrastructure revenues more than doubled, driven by the delivery of a single large Road Zipper System project valued at over $20 million. For the full fiscal year 2025, Infrastructure segment revenues increased by 16 percent, directly attributed to higher Road Zipper System project sales.

Durability and Reliability: High-quality Zimmatic center pivot and lateral move systems.

The value is long-term asset performance and reduced downtime. Zimmatic systems are the backbone of the irrigation segment, which accounted for revenues of $471 million in fiscal 2025. While I don't have the specific warranty claim percentage for 2025, the commitment is reflected in the company's focus on providing genuine parts and responsive support through their dealer network to protect that investment. The entire company posted total revenues of $676.4 million in fiscal 2025, showing the scale of their installed base.

Agronomic Insight: Integrated data from in-field sensors for informed decisions.

This is about turning raw data into superior crop outcomes. FieldNET Advisor synthesizes data from soil moisture sensors, weather stations, and historical trends. The platform processes thousands of data points in real time to generate personalized recommendations. This level of precision helps growers apply the exact amount of water needed, which supports the overall goal of helping growers do more with less water. The Irrigation segment's full-year revenue growth for fiscal 2025 was 11 percent, showing continued customer adoption of these smart technologies.

Road Safety: Crash cushions and barriers like the TAU-XR™ for highway protection.

The value here is superior protection for both workers and motorists using crashworthy equipment. The TAU-XR™ Crash Cushion, for instance, was highlighted by the installation of the first unit in June 2024, demonstrating the deployment of their latest safety hardware. This product line contributes to the Infrastructure segment, which saw its operating income increase by 278 percent in Q2 2025 compared to the prior year, partly due to a favorable margin mix that included higher Road Zipper sales and road safety product sales. The overall Infrastructure segment revenue for the full fiscal year 2025 was $96.29 million.

Here's a quick look at how the segments contributed to the $74.1 million in net earnings for fiscal 2025:

Segment	FY 2025 Revenue (Millions USD)	FY 2025 Revenue Change vs Prior Year	Q2 2025 Operating Margin
Irrigation	$471.0	Increase (Implied from total growth)	Not explicitly stated separately
Infrastructure	$96.29	Increased by 16 percent	34.1 percent (Q2 2025)

Finance: draft 13-week cash view by Friday.

Lindsay Corporation (LNN) - Canvas Business Model: Customer Relationships

The way Lindsay Corporation engages with and retains its customers is built on a multi-faceted approach, blending traditional channel support with advanced digital automation and direct, high-value project sales.

Dealer-Centric: Support and training for the global dealer network.

Lindsay Corporation relies heavily on its established dealer network to reach the end-user, particularly in the United States. This relationship is foundational for sales, installation, and local support for irrigation systems. The structure is supported by dedicated resources to ensure dealer competency.

• In the United States, Lindsay Corporation sells its branded irrigation systems to over 200 independent dealers.
• The company provides support through resources like the Lindsay Guide and dedicated training modules to keep the network current.
• Dealers are responsible for assessing customer needs, designing solutions, erecting the system, and providing primary components like water and electrical supply hook-ups.

Automated: Remote monitoring and management via FieldNET™ platform.

The relationship shifts to a continuous, data-driven interaction through the FieldNET platform, which provides remote monitoring and management capabilities for irrigation equipment, often across any brand of center pivot irrigation.

This digital relationship is being strengthened through strategic technology integration. For instance, in January 2025, Lindsay Corporation acquired a 49.9% stake in Pessl Instruments, integrating Pessl's METOS soil monitoring systems directly with the FieldNET platform to boost data-driven soil management solutions.

The value proposition of this automated relationship was recognized when FieldNET Advisor - Whole Farm Water Management earned the 2025 AE50 award from the American Society of Agricultural and Biological Engineers (ASABE).

Here's a look at the scale of the Irrigation segment, which is the primary user of this technology:

Metric	FY 2025 Value
Total Irrigation Segment Revenue	$568 million
International Irrigation Revenue Growth (Q2 FY2025 vs. prior year)	42%
North America Irrigation Revenue Change (Q2 FY2025 vs. prior year)	-7%

Dedicated Project Sales: Direct engagement for large international irrigation and Road Zipper projects.

For large, complex infrastructure and international irrigation deployments, Lindsay Corporation shifts to a direct engagement model, bypassing the standard dealer channel for contract execution. This involves high-value, multi-year agreements.

The Infrastructure segment saw its revenues rise by 16% in fiscal year 2025, driven by these direct project sales. The company delivered a large Road Zipper System project in Q2 FY2025 valued at over $20 million. Furthermore, a multi-year supply agreement for Zimmatic systems and FieldNET technology in the MENA region was previously valued at more than $100 million in revenue.

The success of this direct sales approach contributed to the Infrastructure segment's total revenue for FY 2025 reaching $108.4 million.

Service and Parts: Ongoing maintenance and replacement parts sales.

The relationship extends beyond the initial sale through the provision of ongoing service, maintenance, and replacement parts, which helps secure recurring customer engagement and supports the installed base of equipment.

This is a critical component of the Irrigation segment, as evidenced by commentary during Q2 2025 earnings where lower sales of replacement parts were noted as a factor in the North America irrigation revenue decline. The company's commitment to protecting the investment is highlighted by its focus on Genuine Lindsay Parts for aftermarket support.

Overall company financial performance in FY 2025 was strong, with total revenues of $676.4 million and net earnings of $74.1 million.

The company employs approximately 1,275 people globally to support these customer-facing activities.

Lindsay Corporation (LNN) - Canvas Business Model: Channels

The Channels block for Lindsay Corporation details how the company gets its value propositions to its customer segments, which is critical given the dual nature of its Irrigation and Infrastructure businesses.

For the Irrigation segment, which relies heavily on the independent, authorized global dealer network, the channel performance in fiscal year 2025 showed clear geographic divergence. Total Irrigation segment revenues grew 11% for the full fiscal year 2025. However, North America irrigation revenues declined 19% in the fourth quarter of fiscal 2025, reaching $50 million. Conversely, international irrigation revenues in that same quarter increased 23% year-over-year to $79 million, driven by growth in the Middle East and North Africa (MENA) region and South America. Lindsay Corporation maintains a global network of dealers, distributors, manufacturing facilities and partners to serve these markets.

The direct sales force is a key channel for securing large government infrastructure contracts, primarily involving the Road Zipper System™. The Infrastructure segment, which houses these sales, generated total revenues of $108.4 million for the full fiscal year 2025, an increase of 16%. The timing of these large projects significantly impacts channel revenue recognition.

Here's a look at the Infrastructure segment revenue drivers for fiscal year 2025:

Channel/Product Driver	FY 2025 Revenue Contribution/Impact	Related Period Data
Total Infrastructure Segment Revenue	$108.4 million	Full Fiscal Year 2025
Road Zipper System Project Sales	Primary driver of FY 2025 revenue increase	A large project valued at over $20 million delivered in Q2 FY 2025
Road Zipper System Project Sales (Non-Repeat)	A $20 million project delivered in FY 2025 is not anticipated to offset expected revenue gap in FY 2026	FY 2025 Delivery
Road Safety Products Sales	Higher sales volumes contributed to growth	Drove the 6% increase in Q3 FY 2025 Infrastructure revenue of $25.7 million

The proprietary digital platforms, specifically FieldNET™, serve as a crucial channel for software and data delivery, moving beyond just equipment sales. The FieldNET Advisor™ - Whole Farm Water Management solution was recognized with the 2025 AE50 award from the American Society of Agricultural and Biological Engineers (ASABE). This technology simplifies irrigation decisions for growers using real-time data and a simplified subscription.

For direct sales of road safety products to contractors and DOTs, this activity falls under the Infrastructure segment. The segment's Q3 fiscal 2025 revenue of $25.7 million saw an increase of 6% compared to the prior year, which was primarily driven by higher sales volumes of road safety products. Full-year fiscal 2025 Infrastructure revenues of $108.4 million also reflected higher sales of road safety products.

Overall consolidated revenue for Lindsay Corporation in fiscal year 2025 was $676.4 million, an 11% increase over the prior year.

Lindsay Corporation (LNN) - Canvas Business Model: Customer Segments

You're looking at where Lindsay Corporation directs its value, and honestly, it's split quite cleanly between the farm field and the highway. The customer base isn't monolithic; it's a blend of large agricultural enterprises and government/contractor entities needing durable infrastructure solutions. Here's the quick math on how the segments stacked up in fiscal year 2025.

For the full fiscal year 2025, Lindsay's total revenues hit $676.4 million. The Irrigation segment brought in $568 million, representing an 11% increase year-over-year, while the Infrastructure segment contributed $108.4 million, marking a 16% jump.

The customer segments break down like this:

• Large-Scale Commercial Growers: Global farmers needing mechanized and precision irrigation.
• Government Transportation Authorities: State and municipal Departments of Transportation (DOTs).
• International Governments/Agencies: Focused on food security and water projects (e.g., MENA region).
• Infrastructure Contractors: Purchasing road safety products and barriers.

Let's map the financial weight to these groups.

Large-Scale Commercial Growers and International Governments/Agencies

These two groups are deeply intertwined within the Irrigation segment, which saw its international revenue drive the entire division's growth. International irrigation revenues for the full fiscal year 2025 were $294.2 million, a substantial 39% increase over the prior year. This growth was primarily fueled by project sales in the Middle East and North Africa (MENA) region, a clear indicator of direct engagement with international governments or large-scale agencies prioritizing water security. To be fair, North America irrigation revenues, serving domestic commercial growers, actually decreased by 9% to $273.8 million for the year, showing where the immediate growth focus lies geographically. In the fourth quarter alone, international irrigation revenues were $79.0 million, up 23% year-over-year.

Here's a look at the Irrigation revenue split for the full fiscal year 2025:

Customer Focus Area	FY 2025 Revenue Amount	Year-over-Year Change
International Irrigation (Global Growers/Agencies)	$294.2 million	+39%
North America Irrigation (Domestic Growers)	$273.8 million	-9%

Government Transportation Authorities and Infrastructure Contractors

The Infrastructure segment serves both government bodies (DOTs) and the contractors executing their projects. The segment's $108.4 million in revenue for fiscal 2025 was driven by higher Road Zipper System project sales and increased sales of road safety products. Government agencies, like state and municipal DOTs, are the primary end-users for the Road Zipper System and the RoadConnect remote asset management platform. For instance, RoadConnect offers DOTs a single-source solution that can help improve response times up to 90% after an asset is impacted. Contractors are the direct purchasers of the road safety products, which include crash cushions and end terminals.

The Infrastructure segment's performance is highly dependent on the timing of large projects, such as the Road Zipper System installations. One major project completion in Q2 2025 drove infrastructure revenues to $38.9 million for that quarter, more than doubling the prior year's result for that period. The full-year operating margin for this segment was 24.3% of sales, up from 20.4% the prior year, reflecting that the mix of sales-favoring projects over lower-margin road safety products-is key for this customer group.

You'll want Finance to track the backlog for infrastructure projects closely; the company noted that the backlog declined 43% year-over-year to $117.1 million by the end of Q3 2025, largely due to the completion of major project deliveries to these customers.

Lindsay's sales channels also define these segments; the irrigation products are sold through an independent dealer network, while infrastructure solutions often involve direct sales or specialized contracts with government entities and contractors.

Finance: draft 13-week cash view by Friday.

Lindsay Corporation (LNN) - Canvas Business Model: Cost Structure

The Cost Structure for Lindsay Corporation is heavily influenced by the manufacturing nature of its irrigation and infrastructure products, coupled with strategic investments in technology and global operations.

High cost of goods sold (COGS) due to steel and component manufacturing.

As a manufacturer, the cost of raw materials, especially steel, and manufactured components forms a substantial portion of the total cost base. While the precise Cost of Goods Sold (COGS) for fiscal year 2025 is not explicitly itemized in the latest reports, the operational performance reflects this pressure. For instance, in Q2 2025, the Infrastructure segment achieved an operating margin of 34.1%, up from 19.0% the prior year, suggesting effective cost management or favorable revenue mix offsetting material costs in that segment.

Significant investment in R&D for AgTech and new product defintely development.

Lindsay Corporation maintains a cost commitment to innovation, particularly in AgTech platforms like FieldNET™. While a specific R&D dollar amount for fiscal 2025 isn't itemized, the company previously announced plans to invest more than $50 million to expand and modernize its Nebraska manufacturing facility, including implementing Industry 4.0 technologies like data connectivity and artificial intelligence. This investment signals a significant ongoing cost in technology integration and future product development.

Selling, general, and administrative (SG&A) expenses to support a global footprint.

Supporting a global footprint across irrigation and infrastructure requires substantial SG&A spending. The company's consolidated operating margin for fiscal year 2024 was 12.6% of sales. For fiscal 2025, the company achieved full-year revenues of $676.4 million. The SG&A component is embedded within the overall operating expenses that determine the final operating margin, which for the full year 2024 was $76.6 million in operating income on $607.1 million in revenue.

The cost structure is also characterized by fixed operating expenses that require sufficient revenue volume to avoid deleveraging:

• Lower irrigation segment operating income in Q1 2024 resulted primarily from the impact from the deleverage of fixed operating expenses.
• The Infrastructure segment's operating margin in Q3 2025 was 21.1% of sales, down from 25.8% the prior year, due to a less favorable margin mix.
• North America irrigation revenues decreased 7% in Q2 2025, partially due to lower unit sales volume.

Costs associated with mitigating tariff impacts and shifting supply chains.

Lindsay Corporation has actively incurred costs related to supply chain adjustments to manage tariffs. Management stated they have implemented a comprehensive action plan involving supplier negotiation and strategic inventory placement to mitigate potential tariff impacts to material costs. The anticipated cost impact from recently announced tariffs was expected to be a marginal increase to cost of goods.

Capital expenditures for manufacturing facility expansion and modernization (over $50 million planned).

Capital investment is a key structural cost. The plan to invest more than $50 million in the Lindsay, NE facility for modernization and Industry 4.0 adoption represents a significant near-term capital outlay. Looking forward, capital expenditures for fiscal year 2026 are expected to be approximately $50 million.

Key Financial Metrics Reflecting Cost Base (Latest Available Data):

Metric	Amount / Period	Source Context
Fiscal 2025 Full-Year Revenue	$676.4 million	FY 2025 Results
Fiscal 2025 Full-Year Net Earnings	$74.1 million	FY 2025 Results
Infrastructure Segment Operating Margin (Q3 2025)	21.1% of sales	Q3 2025 Results
Planned CapEx for FY 2026	Approximately $50 million	FY 2026 Outlook
Anticipated Tariff Cost Impact on COGS	Marginal increase	Q2 2025 Management Commentary

Lindsay Corporation (LNN) - Canvas Business Model: Revenue Streams

You're looking at how Lindsay Corporation actually brings in the money as of late 2025, focusing on the hard numbers from the most recent fiscal year. Honestly, the revenue picture is split clearly between two main areas: Irrigation and Infrastructure.

The Total consolidated revenues for FY2025 were $676.4 million. That's the top-line number we're working with for the full year ending August 31, 2025. This total reflects solid, double-digit growth across the board, which is a good sign of market traction.

Let's break down where that $676.4 million came from. The Irrigation segment is the clear revenue driver, but Infrastructure is growing faster percentage-wise.

Revenue Stream Component	FY2025 Revenue (Approximate)	FY2025 Growth Rate
Sales of Irrigation Equipment (Total)	$568 million	11%
Sales of Infrastructure Products (Total)	$108.4 million	16%
Total Consolidated Revenues	$676.4 million	11% (Overall)

The Sales of Irrigation Equipment (Zimmatic systems), which is the core agricultural business, saw revenue increase by 11% for the full fiscal year. This growth was heavily weighted toward international markets; for instance, international irrigation revenues jumped 39% for the full year, driven by project sales in the MENA region and higher volume in Brazil and South America. To be fair, North America irrigation revenues actually decreased by 9% for the full year.

On the infrastructure side, Sales of Infrastructure Products (Road Zipper, road safety) grew by 16% in FY2025. This segment's growth was primarily fueled by higher Road Zipper System project sales. The fourth quarter saw Infrastructure revenues dip by 16% compared to the prior year's fourth quarter, mainly because a large project sale from the prior year did not repeat.

You also need to account for recurring revenue and service income, which smooths out the lumpiness of large project sales. Specifically regarding the Road Zipper System™ lease revenues, the full-year result was that these revenues were slightly lower compared to the prior year. This is an important component to watch, as management noted they expect stable growth in leasing in the upcoming fiscal year, 2026.

Finally, the revenue mix includes Aftermarket parts and service sales for both segments. While specific dollar amounts aren't broken out for the total aftermarket, we see the impact in the quarterly results. For example, in the fourth quarter, lower unit sales volume in North America irrigation was partly due to lower sales of replacement parts. This service and parts revenue acts as a stabilizing element when large system sales fluctuate.

Finance: draft 13-week cash view by Friday.