)
Danimer Scientific (DNMR) investor relations material
Danimer Scientific Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2024 revenue declined 21% year-over-year, mainly due to lower PHA and PLA sales from customer reallocations and reduced demand.
Interim CEO emphasized the company's unique position in biodegradable materials and strong customer relationships, supporting long-term growth.
Cost reduction efforts, including headcount rationalization, helped decrease adjusted gross loss, though inflationary pressures and unfavorable cost absorption partially offset gains.
Leadership transition is ongoing, with a national search firm retained for a permanent CEO.
Substantial doubt exists about the ability to continue as a going concern due to negative cash flows and limited liquidity.
Financial highlights
Q3 2024 revenue was $8.6M, down from $10.9M in Q3 2023; nine-month revenue was $26.5M, down from $35.7M year-over-year.
Q3 2024 net loss was $21.8M, improved from $40.2M in Q3 2023, aided by a $6.8M gain on loan extinguishment.
Adjusted EBITDA loss improved to $8.9M from $9.3M in Q3 2023.
Gross loss for Q3 2024 was $7.3M, similar to the prior year's $7.7M gross loss; adjusted gross loss improved to $2.3M from $2.6M.
Cash and cash equivalents at quarter end were $22.2M; total debt was $381.9M.
Outlook and guidance
Full-year 2024 adjusted EBITDA expected between -$34.4M and -$34.9M, within prior guidance.
Q4 adjusted EBITDA projected between -$7M and -$7.5M.
Full-year capital expenditures forecasted at $8M-$9M.
No year-end 2024 liquidity outlook provided due to ongoing liquidity management efforts.
Anticipates significant near-term revenue growth in 2025 from new customer awards, but these revenues are uncontracted and liquidity is insufficient to sustain operations until then.
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)