Danimer Scientific Earnings Reports

Danimer Scientific reported Q3 2024 results in line with expectations, with revenue of $8.6 million. The company is managing indebtedness and liquidity while focusing on commercial ramp-up.

Danimer Scientific reported Q2 2024 revenues of $7.6 million, down from $12.9 million in Q2 2023, primarily due to the reapportionment of Starbucks' straw business and a loss of PLA orders from customers affected by the conflict in Ukraine. The company is forecasting annualized PHA revenues to more than triple by the end of Q2 2025 and has retired $6.1 million of convertible notes.

Danimer Scientific reported revenue growth, driven by PHA-based products, but experienced a gross profit decline due to increased production costs. The company has reduced its full-year adjusted EBITDA guidance due to delays in customer launches and first shipments.

Danimer Scientific's second quarter 2023 revenues grew to $12.9 million compared to $12.7 million in the year-ago quarter. The company's net loss for the quarter was $(39.2) million, compared to $(30.4) million in the prior year period.

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.

Danimer Scientific reported its Q4 and full year 2021 preliminary financial results, highlighting progress in delivering biodegradable packaging solutions and ramping up customer deliveries, leading to record fourth quarter and full year revenue.

Danimer Scientific reported a 4% increase in revenue to $13.4 million, driven by a 10% growth in product revenue and a significant increase in PHA-based product sales. The company experienced a gross profit loss of $(0.2) million, while net income reached $7.8 million due to a non-cash gain from warrant remeasurement. Adjusted EBITDA was a loss of $7.4 million.

Danimer Scientific announced Q2 2021 results with a 22% increase in revenue to $14.5 million driven by PHA production and increased R&D revenue. Net income was $39.2 million, including a $58.7 million non-cash gain from warrant remeasurement. The company completed the acquisition of Novomer in August, expecting it to reduce capital expenditures and enhance product offerings.

Danimer Scientific reported a 24% increase in revenue to $13.2 million compared to Q1 2020, driven by stronger demand and additional PHA production. However, the company experienced a net loss of $94.7 million, which included an $80.7 million loss related to the revaluation of private warrants.