Is your precision agriculture tech solutions business truly maximizing its financial potential, or are you leaving significant profits on the table? Uncover nine powerful strategies designed to dramatically enhance your bottom line and secure sustainable growth in this dynamic sector. For a comprehensive financial roadmap, explore the Precision Agriculture Tech Solutions Financial Model.
Core 5 KPI Metrics to Track
Monitoring key performance indicators is fundamental for any Precision Agriculture Tech Solutions Business aiming for sustainable growth and increased profitability. The following table outlines core KPI metrics that provide critical insights into operational efficiency, customer health, and revenue generation, allowing for data-driven strategic decisions.
| # | KPI | Benchmark | Description |
|---|---|---|---|
| 1 | Customer Acquisition Cost (CAC) | $500 - $2,000 per customer | The average cost incurred to acquire a new customer, encompassing all sales and marketing expenses. |
| 2 | Monthly Recurring Revenue (MRR) | $10,000 - $50,000+ | The predictable revenue a business expects to receive every month from its active subscriptions or service contracts. |
| 3 | Customer Lifetime Value (CLV) | $5,000 - $20,000+ | The total revenue a business can reasonably expect from a single customer account over their entire relationship. |
| 4 | Acres Under Management (AUM) | 100,000 - 500,000+ acres | The total acreage of farmland or agricultural land actively utilizing the precision agriculture tech solutions. |
| 5 | Customer Churn Rate | 5% - 10% annually | The percentage of customers or revenue lost over a specific period, indicating customer retention effectiveness. |
Why Do You Need to Track KPI Metrics for Precision Agriculture Tech Solutions?
Tracking Key Performance Indicators (KPIs) is essential for any Precision Agriculture Tech Solutions business. These metrics measure performance, guide strategic decisions for best practices for precision ag business growth, and demonstrate tangible value to both investors and clients. This focus is crucial for maximizing farm technology profitability and ensuring sustainable expansion.
The market itself highlights this necessity. The global precision agriculture market was valued at USD 78 billion in 2022 and is projected to reach USD 208 billion by 2030, showing a remarkable compound annual growth rate (CAGR) of 131%. By actively tracking KPIs, a smart farming solutions business can strategically position itself to capitalize on this significant growth. This involves identifying the most profitable service lines and market segments, ensuring resources are allocated effectively for optimal returns.
KPIs also provide a clear way to evaluate the Return on Investment (ROI) of crop yield optimization technology for clients. Farmers using precision agriculture frequently report yield increases ranging from 5% to 15%. Additionally, they often achieve reductions in input costs, such as fertilizer and water, by up to 20%. Tracking these specific client success metrics directly supports effective client acquisition strategies for agri-tech services and significantly boosts customer retention. For deeper insights into profitability, consider reviewing resources like this article on agri-tech profitability.
Furthermore, demonstrating strong KPIs is fundamental for securing investment. Investment opportunities in the precision agriculture sector are substantial, with Ag-Tech venture capital funding exceeding USD 5 billion in 2021. Investors scrutinize metrics like the Customer Lifetime Value to Customer Acquisition Cost ratio (CLV:CAC). A robust CLV:CAC ratio proves the long-term viability and scalability of a business, directly influencing the potential for significant agricultural tech company profits and attracting necessary capital for growth.
What Are The Essential Financial Kpis For Precision Agriculture Tech Solutions?
Essential financial Key Performance Indicators (KPIs) for a Precision Agriculture Tech Solutions business include Monthly Recurring Revenue (MRR), Customer Lifetime Value (CLV), Customer Acquisition Cost (CAC), and overall precision agriculture business profit margins. These metrics are fundamental for robust financial planning for agricultural technology companies and guide strategic decisions.
For a business like Precision Harvest Solutions, which often operates on a subscription model, MRR is a primary indicator of financial health and consistent cash flow. Leading B2B Software-as-a-Service (SaaS) companies, a comparable sector, frequently target an annual MRR growth rate of 40% or higher. This strong growth in recurring revenue is a cornerstone for effective agri-tech revenue growth strategies.
Key Financial Ratios for Profitability
- A healthy Customer Lifetime Value (CLV) to Customer Acquisition Cost (CAC) ratio is crucial for a sustainable business model and long-term profitability. A widely accepted benchmark for a successful SaaS business is a ratio of 3:1 or greater.
- For a provider of digital agriculture solutions, achieving a CLV of $18,000 against a CAC of $6,000 or less signifies a strong and scalable model for maximizing profitability for smart farming startups. This ratio directly impacts the ability to scale and demonstrates efficient client acquisition.
Profit margins in the precision farming solutions industry are a critical measure of operational efficiency and financial health. Software-centric models, typical for farm management software benefits and agricultural data analytics, can target gross margins of 75-85%. However, businesses that include hardware, such as drone technology or IoT sensors for IoT in farming business, may see margins in the 30-50% range. Understanding and optimizing these margins is key to improving the financial performance of agricultural technology firms and ensures the business remains competitive and profitable. For more on managing these financials, consider insights on precision agriculture tech solutions profitability.
Which Operational KPIs Are Vital For Precision Agriculture Tech Solutions?
Vital operational KPIs for a Precision Agriculture Tech Solutions provider include Customer Churn Rate, Platform Adoption Rate, and Acres Under Management. These metrics directly reflect customer satisfaction, product value, and the scalability of the business, crucial for maximizing profitability for smart farming startups.
Customer Churn Rate
- Retaining customers in the farm technology industry is significantly more cost-effective than acquiring new ones. This makes churn rate a critical KPI for reducing operational costs for farm tech businesses.
- An acceptable annual customer churn rate for B2B technology providers is typically between 5% and 7%. A rate below 5% indicates a strong product-market fit and sustained agricultural tech company profits.
Platform Adoption Rate
- The Platform Adoption Rate measures the active use of key farm management software benefits. It is a leading indicator of customer engagement and future retention, directly influencing agri-tech revenue growth strategies.
- A strong target is to have over 70% of the client base using core features, such as agricultural data analytics dashboards, on a weekly basis. This demonstrates the realized value of the service and supports long-term farm technology profitability.
Acres Under Management (AUM)
- Acres Under Management (AUM) is a unique and powerful operational KPI that illustrates market penetration and scalability for a smart farming solutions business. This metric is key for investors evaluating plans for expanding market reach for farm tech solutions companies.
- For a startup like Precision Harvest Solutions, growing from 100,000 AUM to 500,000 AUM within a year demonstrates significant market traction. This growth highlights effective client acquisition strategies for agri-tech services and showcases the potential for increased precision agriculture business profit. More insights on scaling can be found in discussions around capital expenditures for precision agriculture tech solutions.
How Can Data Boost Agri-Tech Profits?
Data is central to driving precision agriculture business profit by enabling informed decisions, optimizing resource use, and creating new revenue streams. For a business like Precision Harvest Solutions, leveraging data from IoT sensors, drones, and satellite imagery allows farmers to achieve significant improvements. For example, precise nitrogen application, guided by data analytics, can reduce fertilizer costs by up to 30% while maintaining or increasing yields. This directly translates into higher profitability for the farmer, reinforcing the value proposition of digital agriculture solutions.
Effective use of agricultural data analytics also enhances farm technology profitability through predictive modeling. By analyzing historical weather patterns, soil conditions, and crop performance data, agri-tech platforms can predict disease outbreaks or pest infestations before they become widespread. This enables proactive intervention, significantly reducing crop losses. For instance, early detection of blight can prevent a 15-20% yield reduction in affected fields, protecting farmers' income and solidifying the necessity of smart farming solutions business offerings.
Key Ways Data Boosts Agri-Tech Profits
- Optimized Resource Allocation: Data-driven insights allow precise application of water, fertilizers, and pesticides, reducing waste and input costs. Farmers using variable-rate irrigation, for example, can save 10-25% on water usage.
- Increased Yields: Monitoring crop health and environmental factors through data helps identify optimal planting times, varieties, and management practices, leading to yield increases often between 5% and 15%.
- Risk Mitigation: Predictive analytics identifies potential threats like disease or adverse weather, allowing for timely interventions that minimize losses. This improves the overall agricultural tech company profits by ensuring client success.
- New Service Offerings: Aggregated and anonymized data can be used to develop new premium services, such as benchmarking tools or advanced forecasting, creating additional agri-tech revenue growth strategies.
- Enhanced Customer Retention: Demonstrating clear ROI through data-backed success stories strengthens client relationships and reduces churn, which is critical for long-term financial planning for agricultural technology companies.
Data also plays a crucial role in developing new monetization models for precision agriculture platforms. Beyond subscription fees for software and sensors, companies can offer data-driven consulting services or sell aggregated, anonymized market insights. This diversification helps secure investment opportunities in the precision agriculture sector. According to industry reports, the global market for agricultural big data and analytics is projected to grow substantially, highlighting the value in processing raw farm data into actionable intelligence. For more insights on financial aspects, refer to resources like this article on profitability in precision agriculture tech solutions.
What Drives Smart Farming Profitability?
Profitability in a Precision Agriculture Tech Solutions business, like Precision Harvest Solutions, is primarily driven by delivering clear value, ensuring client retention, and efficiently scaling operations. Farmers adopt smart farming technologies to increase their yields and reduce input costs. For instance, precision irrigation can reduce water usage by 30-50%, while optimized fertilization can decrease fertilizer use by 10-20%, directly impacting a farm's bottom line. These savings and increased outputs translate into tangible ROI for clients, which is crucial for a sustainable smart farming solutions business.
Successful agri-tech revenue growth strategies also hinge on strong customer relationships and continuous innovation. Offering robust farm management software benefits that integrate IoT data and agricultural data analytics helps retain clients. The global smart agriculture market is projected to reach USD 38.6 billion by 2028, growing at a CAGR of 10.2%, highlighting the vast opportunity for businesses that can effectively capture and retain market share. Maximizing profitability for smart farming startups involves balancing high-value service delivery with scalable operational models.
Key Profit Drivers for Precision Agriculture Tech Solutions:
- Demonstrable ROI for Clients: Clients must see clear financial benefits from using your crop yield optimization technology. Farmers often achieve 5-15% yield increases and up to 20% reduction in input costs (e.g., water, fertilizer) through precision agriculture.
- High Customer Lifetime Value (CLV): Building long-term relationships through excellent service and continuous product improvement ensures a high CLV. A strong CLV to Customer Acquisition Cost (CAC) ratio, ideally 3:1 or greater, is vital for agricultural tech company profits.
- Scalable Business Model: Efficiently expanding services to more acres or clients without a proportional increase in costs. Software-as-a-Service (SaaS) models typically have higher profit margins in the precision farming solutions industry, often 75-85% gross margins, compared to hardware-heavy models.
- Effective Data Utilization: Leveraging digital agriculture solutions to provide actionable insights. This enhances the value proposition, allowing for premium pricing and improved client outcomes, directly boosting farm technology profitability.
Customer Acquisition Cost (CAC)
Customer Acquisition Cost (CAC) is a critical metric for any precision agriculture business profit strategy. It represents the total expense incurred to acquire a new customer, from marketing and sales efforts to outreach programs. Understanding and optimizing CAC directly impacts your agri-tech revenue growth strategies and overall financial health. For smart farming solutions business, a lower CAC means more efficient client acquisition, leading to higher profitability.
To calculate CAC, divide your total sales and marketing expenses over a specific period by the number of new customers acquired during that same period. For instance, if Precision Harvest Solutions spends $10,000 on marketing in a month and acquires 50 new farmer clients, the CAC is $200 per customer. This metric helps evaluate the efficiency of client acquisition strategies for agri-tech services and guides budget allocation for future growth.
Strategies to Reduce CAC for Precision Agriculture Tech Solutions
- Targeted Marketing: Focus marketing efforts on specific farmer segments most likely to adopt crop yield optimization technology. Utilize digital agriculture solutions platforms and agricultural forums where potential clients are active. This reduces wasted ad spend.
- Referral Programs: Implement strong referral programs for existing satisfied customers. Farmers often trust recommendations from peers, making this a cost-effective way to attract new clients. A successful referral can reduce CAC by 50% or more compared to traditional advertising.
- Content Marketing: Develop valuable content like case studies showcasing increased yields or reduced input costs for farmers using your farm management software benefits. This educates potential customers and builds trust, leading to organic leads.
- Optimize Sales Funnel: Streamline the sales process from initial contact to closing. Reduce friction points and improve conversion rates at each stage. Efficient sales processes lower the human resource cost per acquisition.
- Customer Retention: Focus on retaining customers in the farm technology industry. Loyal customers require no acquisition cost for subsequent purchases or renewals, improving lifetime value (LTV) and offsetting initial CAC. High retention indicates a strong value proposition, which aids new customer acquisition through positive word-of-mouth.
An effective CAC management strategy is vital for maximizing profitability for smart farming startups. By continually monitoring and optimizing CAC, Precision Harvest Solutions can ensure sustainable growth and a strong return on investment for its marketing and sales efforts. This directly contributes to agricultural tech company profits and long-term viability.
Monthly Recurring Revenue (MRR)
Monthly Recurring Revenue (MRR) represents the predictable revenue a
Generating MRR in the agri-tech sector enhances the long-term viability of smart farming solutions. Businesses can forecast cash flow more accurately, which is essential for managing operational costs and planning for future innovations. For instance, a consistent MRR stream from farm management software benefits can fund research into new crop yield optimization technology or expand service offerings. This stability attracts investors, as it demonstrates a reliable revenue stream, making the company more appealing for investment opportunities in the precision agriculture sector.
Strategies for Building MRR in Precision Agriculture
Implementing effective strategies is key to establishing and growing Monthly Recurring Revenue for a
Subscription-Based Service Models
- Farm Management Software Subscriptions: Offer access to digital agriculture solutions, including data analytics platforms and crop monitoring tools, on a monthly or annual subscription basis. This provides farmers with continuous insights for decision-making. For example, a software subscription could provide real-time updates on soil moisture levels, leading to optimized irrigation and reduced water usage by up to 30%, according to a 2023 study by Agri-Tech Insights.
- Data Analytics and Reporting Services: Provide ongoing agricultural data analytics support, offering personalized reports and insights derived from drone and IoT data. Farmers pay a recurring fee for these valuable actionable insights, which can lead to significant improvements in efficiency and yield. A typical data analytics package might include monthly yield predictions with 90% accuracy.
- Equipment-as-a-Service (EaaS): Instead of outright selling expensive drone technology or IoT sensors, offer them as a service with a monthly fee that includes maintenance, upgrades, and data collection. This reduces the upfront cost for farmers, making advanced technology more accessible. For instance, renting a precision spraying drone might cost a farmer $500-$1,500 per month, including all operational support.
Value-Added Recurring Services
- Preventative Maintenance Plans: Offer monthly or quarterly maintenance contracts for precision agriculture equipment. This ensures optimal performance and reduces downtime for farmers, providing a steady revenue stream for the tech solution provider. Regular maintenance can extend equipment lifespan by 15-20%.
- Ongoing Training and Support: Provide tiered subscription packages for continuous training, technical support, and expert consultation. This helps farmers maximize their use of smart farming solutions and keeps them updated on new features or best practices. A premium support plan might include 24/7 access to technical specialists.
- Precision Ag Advisory Services: Develop retainers for expert consultation on crop yield optimization, sustainable practices, or integration of new technologies. These services provide high profit margins and build strong client relationships. An advisory retainer could involve weekly calls and quarterly farm visits.
Enhancing Client Retention for Sustained MRR
Retaining customers in the farm technology industry is as vital as acquiring new ones for sustaining MRR. High customer churn directly impacts profitability and growth. Precision Harvest Solutions must focus on delivering consistent value and exceptional service to ensure farmers continue their subscriptions and service agreements. Strong client relationships are built on trust and demonstrated return on investment.
Customer Retention Tactics
- Proactive Customer Success Management: Assign dedicated customer success managers to key clients to ensure they are fully utilizing the technology and achieving desired outcomes. Regular check-ins and performance reviews help identify and address issues before they lead to churn. Businesses with proactive customer success often see a 10-15% reduction in churn rates.
- Continuous Product Improvement: Regularly update and enhance farm management software and hardware based on user feedback and emerging needs. New features, improved user interfaces, and better data accuracy encourage continued subscription. For example, implementing a new feature requested by 70% of users can significantly boost satisfaction.
- Exclusive Content and Community: Offer subscribers exclusive access to webinars, research papers, or an online community forum. This creates a sense of belonging and provides additional value beyond the core service, fostering loyalty among users of digital agriculture solutions. A vibrant community can increase engagement by up to 25%.
Customer Lifetime Value (CLV)
Customer Lifetime Value (CLV) measures the total revenue a business can reasonably expect from a single customer account over their entire relationship. For Precision Harvest Solutions, understanding and maximizing CLV is crucial for sustainable profit growth and improving financial performance. A higher CLV indicates that clients are not only purchasing initial solutions but are also engaging in repeat business, upgrades, and long-term service contracts. This reduces the need for constant new client acquisition, which can be expensive, allowing for more efficient use of resources and boosting overall agri-tech revenue growth.
Why is CLV Important for Precision Agriculture Tech Solutions?
Maximizing profitability for smart farming startups relies heavily on retaining customers in the farm technology industry. Focusing on CLV shifts attention from one-time sales to building enduring client relationships. For Precision Harvest Solutions, this means farmers continue to use IoT, drone technology, and data analytics tools year after year. Repeat business from a loyal customer base significantly contributes to a stable revenue stream and predictable financial planning for agricultural technology companies. Studies show that increasing customer retention rates by just 5% can increase profits by 25% to 95%, according to Bain & Company research.
Strategies to Increase CLV in Precision Agriculture
- Offer Subscription Models: Implement recurring revenue models for farm management software benefits or data analytics services. For example, Precision Harvest Solutions can offer monthly or annual subscriptions for access to updated yield optimization technology and predictive analytics dashboards. This ensures consistent income and encourages long-term engagement.
- Provide Excellent Post-Sale Support: Deliver proactive customer service and technical support. Farmers using complex agricultural technology firms' solutions need reliable assistance. Offering dedicated support lines, on-site training, and rapid troubleshooting builds trust and loyalty, reducing customer churn for agri-tech businesses.
- Develop Value-Added Services: Expand beyond initial product sales by offering complementary services. Precision Harvest Solutions could introduce consulting services for advanced crop yield optimization, personalized farm data analysis reports, or specialized maintenance packages for drone technology. These services add value and create new monetization models for precision agriculture platforms.
- Implement Loyalty Programs: Reward long-term clients with exclusive discounts on new digital agriculture solutions, early access to new features, or priority support. This incentivizes continued partnership and strengthens the customer relationship, making them less likely to switch to competitors.
- Gather and Act on Feedback: Regularly solicit feedback from farmers on their experience with IoT in farming business solutions. Use this input to refine existing products, develop new services for precision agriculture clients, and address pain points. This shows customers their input is valued and ensures solutions remain relevant and effective.
How to Measure CLV for Farm Tech Businesses
Calculating CLV helps Precision Harvest Solutions understand the long-term value of its customer base and guides strategies for boosting agri-tech company revenue. A common CLV formula is: (Average Purchase Value) x (Average Purchase Frequency) x (Average Customer Lifespan). For example, if a farmer spends $5,000 annually on Precision Harvest Solutions' services, makes purchases for an average of 5 years, their CLV would be $25,000. Tracking this metric allows the business to identify high-value customer segments and tailor client acquisition strategies for agri-tech services, focusing on attracting similar profitable clients.
How to Maximize Profits through Acres Under Management (AUM)
Increasing Acres Under Management (AUM) is a core strategy for boosting profitability in a Precision Agriculture Tech Solutions business like Precision Harvest Solutions. AUM refers to the total acreage of farmland that a company's technology or services actively monitor, manage, or influence. For every acre brought under management, the potential for recurring revenue from subscriptions, data services, or sensor maintenance significantly increases. This model is highly scalable, as the core technology can be replicated across new clients with relatively low marginal costs once the initial infrastructure is in place. For instance, a smart farming solutions business that adds 10,000 new acres to its platform can see a substantial increase in its annual recurring revenue (ARR) without proportional increases in staffing or equipment, leading to improved profit margins in precision farming solutions industry.
What is the Role of AUM in Agri-Tech Business Profitability?
AUM directly correlates with revenue potential for agricultural tech companies. More acres mean more opportunities to deploy IoT sensors, drone mapping services, and apply agricultural data analytics for crop yield optimization. Each additional acre under management typically generates a recurring fee or usage-based charge. This creates a predictable revenue stream, crucial for financial stability and growth. For example, if Precision Harvest Solutions charges an average of $5 per acre annually for its advanced monitoring and analytics, managing 100,000 acres generates $500,000 in annual revenue. Scaling to 500,000 acres then yields $2.5 million annually, demonstrating how AUM directly impacts the top line and overall precision agriculture business profit.
Strategies to Scale Acres Under Management (AUM)
- Offer Tiered Service Packages: Develop different service levels (e.g., basic monitoring, advanced analytics, full-service crop management) to appeal to a wider range of farm sizes and budgets. This allows smaller farms to start with basic services and larger operations to adopt comprehensive solutions, expanding the addressable AUM.
- Expand Geographic Reach: Systematically target new agricultural regions or states. This allows for the acquisition of new client bases and, consequently, new acreage. Researching high-density farming areas can maximize AUM acquisition efficiency.
- Form Strategic Partnerships: Collaborate with agricultural co-ops, equipment dealers, or input suppliers. These partners often have direct access to a vast network of farmers and can act as sales channels or refer large blocks of acreage.
- Focus on Customer Retention: High customer churn directly reduces AUM. Implement robust customer support, provide clear ROI demonstrations, and continually update technology to ensure existing clients remain engaged and continue their subscriptions. Satisfied customers are also more likely to expand their AUM with your services.
- Demonstrate Clear ROI: Show prospective clients the tangible financial benefits, such as a 5-10% increase in crop yield or a 15% reduction in input costs, achieved by current users. This data-driven approach helps overcome adoption barriers and accelerates AUM growth.
How Can Data Analytics Boost Profits in Precision Agriculture via AUM?
Agricultural data analytics is critical for maximizing AUM profitability. By collecting vast amounts of data from sensors, drones, and farm management software, Precision Harvest Solutions can provide actionable insights to farmers. These insights help optimize irrigation, fertilization, and pest control, leading to higher yields and reduced operational costs for the farmer. When farmers see a clear return on investment (ROI) from these data-driven recommendations, they are more likely to expand the acreage they manage with your services or recommend them to others. This directly increases AUM organically. Effective data analytics also allows the agri-tech company to identify patterns and refine its own service offerings, leading to more efficient resource allocation and improved farm technology profitability across its entire AUM portfolio.
Customer Churn Rate
Customer churn rate measures the percentage of customers who stop using a company's product or service over a specific period. For Precision Harvest Solutions, reducing churn is critical for sustained profitability and growth. High churn rates directly impact recurring revenue, increase customer acquisition costs, and signal potential issues with product value or customer support. For instance, a 5% reduction in customer churn can increase profits by 25% to 95%, according to Bain & Company research, highlighting its financial impact on agri-tech companies.
Why is Customer Churn Important for Precision Agriculture Tech?
Understanding and managing customer churn is vital for the long-term viability of a Precision Agriculture Tech Solutions business. In a subscription-based or recurring service model, every lost customer means a direct loss of future revenue. It costs significantly more to acquire a new customer than to retain an existing one, often 5 to 25 times more, depending on the industry. For Precision Harvest Solutions, this means that resources spent on attracting new farm clients could be better utilized by focusing on retaining current users, ensuring they continue to leverage IoT, drone technology, and data analytics for crop yield optimization technology.
Strategies to Reduce Customer Churn in Agri-Tech
- Enhance Onboarding and Training: Provide comprehensive, easy-to-understand onboarding for new farm clients. Many users of farm management software benefits from clear, step-by-step guides and dedicated support during the initial setup of digital agriculture solutions.
- Proactive Customer Support: Implement a system for regular check-ins and proactive issue resolution. Using agricultural data analytics to identify potential problems before they escalate can significantly improve customer satisfaction and retention.
- Continuous Product Improvement: Regularly update and improve your smart farming solutions based on user feedback. New features that address pain points or offer enhanced value, such as improved crop yield optimization technology, keep customers engaged.
- Value Demonstration: Clearly communicate the return on investment (ROI) and benefits customers are receiving from your precision agriculture technology. Share success stories and data showing how your solutions are maximizing profitability for smart farming startups.
- Tiered Service Models: Offer different levels of service or support plans. This allows customers to choose a plan that best fits their needs and budget, increasing perceived value and reducing the likelihood of them seeking alternatives.
- Feedback Loops: Establish robust channels for customer feedback, such as surveys or direct communication. Actively listening to farmers’ needs and implementing their suggestions builds trust and loyalty, directly impacting how precision agriculture businesses reduce customer churn.
- Customer Loyalty Programs: Implement incentives for long-term customers, such as discounts on upgrades, early access to new features, or exclusive training sessions. This rewards loyalty and encourages continued engagement with farm technology profitability solutions.