Danimer reports FY2023 revenue down 12% to $46.7M; guides FY2024 Adj. EBITDA improvement

Danimer Scientific, Inc.

Q4 revenue $10.9M (-29% YoY); full-year revenue $46.7M vs $53.2M.
Full-year Adj. EBITDA $(39.0)M vs $(45.0)M in 2022; Q4 Adj. EBITDA $(10.7)M.
FY2024 Adj. EBITDA guidance $(22)-(32)M; CapEx $8-10M; expects accelerating H2 growth.
Unrestricted cash $59.2M at Dec 31, 2023; March 2024 equity raise added >$13M.
PHA sales grew 6% YoY; PLA sales declined $6.1M due to Ukraine conflict.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Danimer Scientific, Inc. updated its fourth quarter and full year ended December 31, 2023 guidance (reaffirmed).

Period: fourth quarter and full year ended December 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On March 28, 2024, Danimer Scientific, Inc. (“Danimer”) issued a press release announcing its financial results for the fourth quarter and full year ended December 31, 2023.

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Source: SEC EDGAR

accession 0000950170-24-038004

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