Danimer Scientific, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 28, 2024 at 04:00 pm EDT
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Danimer Scientific, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 10.95 million compared to USD 15.32 million a year ago. Net loss was USD 39.43 million compared to USD 28.05 million a year ago. Basic loss per share from continuing operations was USD 0.39 compared to USD 0.28 a year ago.
For the full year, revenue was USD 46.68 million compared to USD 53.22 million a year ago. Net loss was USD 155.47 million compared to USD 179.76 million a year ago. Basic loss per share from continuing operations was USD 1.52 compared to USD 1.78 a year ago.
Danimer Scientific, Inc. is a performance polymer company. The Company specializes in bioplastic replacements for traditional petroleum-based plastics. Its technologies include Polyhydroxyalkanoate (PHA)-based Resins, Polylactic acid (PLA)-based Resins and Rinnovo. It harvests the PHA from the bacteria, then purifies and filters the bioplastic before forming the non-formulated PHA into pellets. Its PHA is a naturally occurring bioplastic that effectively biodegrades in both anaerobic environments, such as a waste treatment facility, and aerobic environments. It sells the PHA under its proprietary Nodax brand name. PLA is made from dextrose derived from corn, sugar beets and sugar cane, among other sources. Applications for biopolymers include additives, aqueous coatings, fibers, filaments, films, thermoforming, and injection-molded articles. The Company primarily markets its products to consumer packaging brand owners, converters and manufacturers in the plastics industry.
DANIMER SCIENTIFIC, INC. 
