secwatch.observer — SEC 8-K summary
======================================

Issuer:     Origin Materials, Inc. (ORGN)
CIK:        0001802457
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001802457-23-000088
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Origin Materials Q2 rev $6.9M; Origin 1 startup; FDCA moved to Origin 2; phased build to 2026-2028
--------------------------------------------------------------------------------

- Q2 revenue $6.9M vs $0 prior year; net loss $6.3M vs net income $46.9M; Adj EBITDA loss $11.7M vs $6.9M loss.
- Origin 1 commercial CMF plant initiated start-up in June 2023.
- FDCA production moved from Origin 3 to Origin 2; Origin 2 now phased: Phase 1 start-up late 2026-2027, Phase 2 in 2028.
- Phase 1 capital budget up to $400M; Phase 2 up to $1.2B (vs original $1.07B total); 2024 capex up to $50M.
- Maintained FY2023 guidance: revenue $40-60M, Adj EBITDA loss $50-60M; customer demand exceeds $10B in offtake.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1802457/000180245723000088/0001802457-23-000088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1802457/000180245723000088/orgn-20230809.htm
  HTML page:      https://secwatch.observer/filing/0001802457-23-000088

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer