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Jun 30, 2024
Origin Materials Q2 2024 Earnings Report
Reported a revenue of $7.0 million, driven by the supply chain activation program, and progressed in commercializing its caps and closures business.
Key Takeaways
Origin Materials reported Q2 2024 financial results, highlighting a signed customer MOU for over $100 million of PET caps and reaffirmed the commercial production of PET caps to begin in Q4 2024. The company maintains its 2024 revenue and net cash burn guidance.
Signed a customer memorandum of understanding for over $100 million of PET caps.
Reaffirmed PET cap commercial production to begin in the fourth quarter of 2024, with revenue ramp-up starting in the first quarter of 2025.
Maintained 2024 revenue guidance of $25 million to $35 million.
Maintained 2024 net cash burn guidance between $55 million and $65 million.
Forward Guidance
The Company is maintaining the following guidance for 2024 revenue and net cash burn.
Positive Outlook
- Revenue of $25 million to $35 million.
Challenges Ahead
- Net cash burn between $55 million and $65 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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