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Mar 31, 2023
Origin Materials Q1 2023 Earnings Report
Reported financial results for the first quarter of 2023 and maintained 2023 revenue and Adjusted EBITDA outlook.
Key Takeaways
Origin Materials reported revenue of $1.7 million for the first quarter of 2023, generated by joint development agreements and the Company’s supply chain activation program. The company is on track for Origin 1 start-up in Q2 2023. Front-end design, construction planning, and financing for Origin 2 are progressing.
Origin 1 is on track to start-up in Q2 2023.
Origin 2 front-end design, construction planning, and financing are progressing.
Strategic partnerships were announced with Indorama Ventures and SCGP.
2023 Revenue and Adjusted EBITDA outlook were maintained.
Forward Guidance
The Company is maintaining the following guidance for revenue and Adjusted EBITDA for fiscal year 2023: Revenue of $40 million to $60 million and Adjusted EBITDA loss of $50 million to $60 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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