Loading...
•
Sep 30, 2024
Danimer Scientific Q3 2024 Earnings Report
Reported financial results consistent with expectations and progress made on commercial opportunities.
Key Takeaways
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.
Revenues were $8.6 million, down from $10.9 million in Q3 2023.
Net loss improved to $(21.8) million compared to $(40.2) million in Q3 2023.
The cutlery award continues to progress towards a 20-million-pound annual run rate anticipated in mid-2025.
A 100% compostable Skittles packaging made with Nodax PHA resin was soft launched and featured at an NFL game.
Danimer Scientific
Danimer Scientific
Forward Guidance
The company expects fourth quarter Adjusted EBITDA to be in the range of ($7.0) million to ($7.5) million resulting in a full year Adjusted EBITDA total of ($34.4) million to ($34.9) million which is within the previously disclosed guidance range of $(30) million to $(35) million. Full-year capital expenditures will be between $8 million and $9 million.