Danimer Scientific, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 04:01 pm EDT
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Danimer Scientific, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 12.87 million compared to USD 12.7 million a year ago. Net loss was USD 39.24 million compared to USD 30.45 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to USD 0.3 a year ago.
For the six months, revenue was USD 24.79 million compared to USD 27.45 million a year ago. Net loss was USD 75.88 million compared to USD 56.83 million a year ago. Basic loss per share from continuing operations was USD 0.74 compared to USD 0.56 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. 
