Danimer Scientific Inc. · Q2 2022 earnings

Briefing

Announced second quarter 2022 results.

Danimer Scientific reported revenues of $12.7 million for the second quarter, with PHA-based product sales increasing by 85% year-over-year. The company's net loss was $30.4 million, which included a $2.0 million non-cash gain from warrant remeasurement. They reaffirm Adjusted EBITDA to be in the range of $(45) million to $(35) million.

• Revenues in the second quarter were $12.7 million.
• PHA-based product sales were up 85% from the comparable period in the prior year, expanding to 61% of total revenue compared to 29% in the second quarter of 2021.
• Gross profit was $(2.2) million compared to $2.0 million in the second quarter of 2021.
• Net loss of $30.4 million included a $2.0 million non-cash gain related to the remeasurement of the Company’s private warrants for the second quarter of 2022.

Headline financials

Revenue & EPS history

Danimer reaffirms its outlook for Adjusted EBITDA to be in the range of $(45) million to $(35) million, and now expects full year capital expenditures to be in the range of $175 million to $185 million, with a year-end cash balance in excess of $60 million.