Danimer Scientific, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 04:01 pm EST
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Danimer Scientific, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 10.95 million compared to USD 10.45 million a year ago. Net loss was USD 40.16 million compared to USD 94.88 million a year ago. Basic loss per share from continuing operations was USD 0.39 compared to USD 0.94 a year ago.
For the nine months, revenue was USD 35.74 million compared to USD 37.89 million a year ago. Net loss was USD 116.04 million compared to USD 151.71 million a year ago. Basic loss per share from continuing operations was USD 1.14 compared to USD 1.5 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. 
