Origin Materials Q2 revenue $7M, net loss $19.5M; signs PET caps MOU for >$100M

Origin Materials, Inc.

2024-Q2 EPS reported -$0.23 revenue$13,858,000

Q2 revenue $7.0M (vs $6.9M prior); net loss $19.5M (vs $6.5M); adjusted EBITDA loss $12.9M (vs $11.7M).
Signed first PET caps customer MOU for over $100M revenue in initial 2-year term; revenue ramp begins early 2025.
Cash, equivalents and marketable securities $132.1M as of June 30, 2024.
Reaffirms 2024 guidance: revenue $25-35M, net cash burn $55-65M.
Commercial production of PET caps on track for Q4 2024; produced over 1M caps to date.

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