Origin Materials Q1 revenue $6.8M, net loss $13.9M; caps lines expected to generate $45M-$65M annual revenue

Origin Materials, Inc.

2024-Q1 EPS reported -$0.10 revenue$6,825,000

Revenue $6.8M (up from $1.7M YoY); net loss $13.9M vs net income $9.8M in prior-year period.
Adjusted EBITDA loss widened to $12.9M from $9.7M; cash and equivalents $146.6M.
Reaffirmed FY 2024 guidance: revenue $25M-$35M, net cash burn $55M-$65M.
Accelerated procurement of additional high-throughput caps lines; initial systems expected to generate $45M-$65M annual revenue at full capacity.
Completed capping trial on commercial bottle line using recycled PET caps; converted wood residue at Origin 1.

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 first quarter ended March 31, 2024 results: revenue $6.8 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $6.8 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Origin Materials reported quarterly revenue of $6.8 million generated by the Company’s supply chain activation program and joint development agreements.

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Source: SEC EDGAR

accession 0001802457-24-000048

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