Origin Materials reports Q3 revenue $7.1M, starts commercial production at Origin 1, cuts 2023 revenue guidance

Origin Materials, Inc.

2023-Q3 EPS reported $0.24 revenue$15,742,000

Q3 revenue of $7.1M vs zero prior year; net income $30.9M, adjusted EBITDA loss $9.5M.
Cash and marketable securities $189.5M as of Sep 30, 2023.
2023 revenue guidance lowered to $25-30M from $40-60M; adjusted EBITDA loss guidance improved to $45-50M.
Commercial-scale production at Origin 1 began in October; delivering CMF and HTC to customers.
New CFO Matt Plavan appointed; contracted offtake agreements exceed $10B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Origin Materials, Inc. reported third quarter ended September 30, 2023 results: revenue $7.1 million, net income $30.9 million.

Period: third quarter ended September 30, 2023
Revenue: $7.1 million
Net income: $30.9 million
Result: reported results

Exact text from the filing

our sustainable products to market while maximizing shareholder value.” 1 Company Third Quarter and Recent Business Highlights Origin Materials reported quarterly revenue of $7.1 million generated by joint development agreements and the Company’s supply chain activation program. Our engagements with some of the world’s leading companies to deploy our technology

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Origin Materials, Inc. filing history →

Source: SEC EDGAR

accession 0001802457-23-000103

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