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Jun 30, 2023
Danimer Scientific Q2 2023 Earnings Report
Announced second quarter 2023 results, expanded portfolio with resins for protective films, shrink wrap & produce bags, and had Part 2 Application accepted for DoE Loan Guarantee.
Key Takeaways
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.
Revenues grew to $12.9 million in the second quarter of 2023, compared to $12.7 million in the year-ago quarter.
Product revenue was $12.2 million, driven by stronger sales of PHA-based resins, which increased 10% compared to prior year and 69% sequentially.
Net loss for the second quarter was $(39.2) million compared with $(30.4) million in the prior year period.
Adjusted EBITDA in the second quarter of 2023 improved to $(10.2) million as compared to $(12.9) million in the second quarter of 2022.
Revenue by Segment
Forward Guidance
The Company now believes that a bias toward the low end of its previously communicated range for 2023 full-year Adjusted EBITDA of $(23) million to $(31) million is prudent. The Company continues to anticipate full-year capital expenditures in the range of $26 million to $31 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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