Danimer Scientific Inc
NYSE:DNMR

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Danimer Scientific Inc
NYSE:DNMR
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Price: 0.35 USD Market Closed
Market Cap: 60k USD

Danimer Scientific Inc
Investor Relations

Danimer Scientific, Inc. operates as a next generation bioplastics company. The company is headquartered in Bainbridge, Georgia and currently employs 282 full-time employees. The company went IPO on 2020-05-06. The firm primarily market its products to consumer packaging brand owners, converters and manufacturers in the plastics industry. Its technology includes PHA Technology platform and PLA Technology Platform. The firm is a producer of polyhydroxyalkanoate (PHA), which serve as a biodegradable alternative to petrochemical-based plastics. The company also creates plastics using the natural plastic polylactic acid (PLA) as a base resin. The Company’s products include PHA-based resins and PLA-based resins. Its PHA-based resins are produced through fermentation process where bacteria consume vegetable oil and produce PHA as energy reserves. The company sells PHA under Nodax brand in a variety of plastic applications. Its PLA-based resins are made from dextrose sugar that is derived from corn, sugar beets and sugar cane,

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Last Earnings Call
Fiscal Period
Q3 2024
Call Date
Nov 19, 2024
AI Summary
Q3 2024

Revenue Decline: Danimer Scientific reported third quarter revenue of $8.6 million, down from $10.9 million the prior year, mainly due to a temporary disruption in Starbucks-related orders.

Cutlery Award Progress: The company’s large QSR cutlery program is on track, with full run rate expected by mid-2025 and significant orders already placed.

Liquidity Focus: Management highlighted continued efforts to manage cash and reduce debt, with active cost savings initiatives and no year-end liquidity guidance provided.

Adjusted EBITDA: Third quarter adjusted EBITDA loss improved to minus $8.9 million from minus $9.3 million last year; full-year loss expected between minus $34.4 million and minus $34.9 million, in line with prior guidance.

Product Launches: The company announced partnerships with Eagle Beverage, Delta Cafes, WinCup, and Mars Wrigley, showing market readiness for its PHA-based bioplastics.

Key Financials
Revenue
$8.6 million
PHA-based resin sales
$6.7 million
Gross Loss
$7.3 million
Adjusted Gross Loss
$2.3 million
R&D and SG&A Expenses
$6.6 million
Adjusted EBITDA Loss
$8.9 million loss
Unrestricted Cash and Cash Equivalents
$22.2 million
Restricted Cash
$14.1 million
Excess Availability on Revolving Credit Agreement
$4.8 million
Capital Expenditures
$2.8 million
Total Debt Balance
$387.9 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Richard J. Hendrix
Interim Executive Independent Chairman
No Bio Available
Mr. Michael A. Hajost
Chief Financial Officer
No Bio Available
Mr. Scott C. Tuten
Chief Marketing & Sustainability Officer
No Bio Available
Mr. Stephen E. Croskrey
Special Advisor & Director
No Bio Available
Mr. Richard N. Altice
Interim CEO & Director
No Bio Available
Mr. Michael Smith
Chief Operating Officer
No Bio Available
Russ Zukowski
Vice President of Corporate Finance
No Bio Available
Mr. Phillip D. Van Trump
Chief Science & Technology Officer
No Bio Available
James Palczynski
Investor Relations Officer
No Bio Available
Mr. Stephen Albert Martin Esq.
Corporate Secretary & Chief Legal Officer
No Bio Available

Contacts

Address
GEORGIA
Bainbridge
140 Industrial Boulevard
Contacts
+19016852865.0
www.liveoakacq.com