Randy Wood on software as a service
From Lindsay Corporation - 17th Annual Gabelli Omaha Value Investor Conference · · GabelliTV
“FieldNet has a 97% plus renewal rate. We've created scale and allowed farmers to consolidate and be very efficient with labor. Now we are selling irrigation service, quality of life, and risk management. Over time, as that software as a service revenue grows, we will report on it independently. We believe 10% of revenue could come from the digital acre over time, similar to John Deere's goals.”
On , Randy Wood, President, Chief Executive Officer & Director at LINDSAY CORP, spoke about software as a service during Lindsay Corporation - 17th Annual Gabelli Omaha Value Investor Conference on GabelliTV.
About Randy Wood
Randy Wood, president and CEO of Lindsay Corporation, spoke at the 17th Annual Gabelli Omaha Value Investor Conference on May 1, 2026. He described the Middle East as a key part of the company's growth story for decades, noting that Lindsay announced a $100 million project last year and is delivering an $80 million project this year related to food security in the region. Wood said the main driver is governments seeking the ability to grow food to feed their populations. Regarding tariffs, he stated that the U.S.-China tariff situation made internal production not the best economic decision, but that the company has had a strong ability to pass through much of the tariff impact to customers, describing it as an industry issue rather than one singling out Lindsay competitively. He said the company's strategy is to find more domestic supply in countries including Brazil, Turkey, South Africa, Italy, and France. Wood discussed the durability of Lindsay's business model, calling food non-negotiable and citing long-term water scarcity and efficient water use as secular themes. He described the normal secular growth rate as mid-to-high single digits. Wood highlighted the company's FieldNet platform, which he said has been in the market for over 25 years and has a 97% plus renewal rate. He said the technology changes the relationship with customers because Lindsay is now selling irrigation service, quality of life, and risk management rather than just equipment. Wood added that as software-as-a-service revenue grows, the company will report on it independently because it is a compelling story from a multiple perspective.