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Jun 30, 2021
Origin Materials Q2 2021 Earnings Report
Successfully completed public listing in June, resulting in a cash and cash equivalent balance of $471 million.
Key Takeaways
Origin Materials reported financial results for the second quarter ended June 30, 2021. The company reaffirmed its capital budget and production timeline for Origin 1 and 2, and increased contracted offtake agreements and capacity reservations to $3.5 billion.
Increased signed offtake agreements and capacity reservations to $3.5 billion from $1 billion in February.
Launched Net Zero Automotive program with Ford Motor Company focused on industrializing new materials to drive decarbonization in the automotive industry.
Reaffirmed the capital budget for the construction of Origin 1 and Origin 2, and confirming its previously disclosed start of production timelines.
Net income was $62.5 million for the second quarter.
Origin Materials
Origin Materials
Forward Guidance
The Company expects to be within its previously provided guidance:Adjusted EBITDA loss of up to $25 million and capital spending of up to $111 million