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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.
Origin Materials
Origin Materials
Origin Materials Revenue by Segment
Revenue by Segment
Supply Chain Activation Program Revenue
CapyFin.com 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.