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Sep 30, 2023
Danimer Scientific Q3 2023 Earnings Report
PHA-Based Product Revenue Grew 58% vs. Prior Year
Key Takeaways
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.
Revenues in the third quarter grew to $10.9 million compared to $10.4 million in the year-ago quarter.
Gross profit in the third quarter was $(7.7) million compared to $(4.1) million in the third quarter of 2022.
Third quarter net loss was $(40.2) million this year compared to a net loss of $(94.9) million last year.
Adjusted EBITDA was $(9.3) million in the third quarter of 2023 compared to $(12.9) million in the third quarter of 2022.
Revenue by Segment
Forward Guidance
The Company has modified its full-year 2023 adjusted EBITDA guidance to a range of $(40) million to $(37) million and now anticipates full-year capital expenditures in the range of $27 million to $29 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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