Origin Materials Inc

NASDAQ:ORGNUnited States

Nov 14, 2024

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• Origin Materials Swings to Q3 Loss, Revenue Increases; Reaffirms Guidance, from 5:18PM ET on Thursday Nov 14, 2024 by MT Newswires

  5:18PM ET on Thursday Nov 14, 2024 by MT Newswires
  Companies Mentioned: ORGN
  05:18 PM EST, 11/14/2024 (MT Newswires) -- Origin Materials (ORGN) reported a Q3 net loss late Thursday of $0.26 per diluted share, reversing from a net income of $0.22 a year earlier. One analyst expected a loss of $0.11 in a Capital IQ survey. Rev...

• -- Earnings Flash (ORGN) ORIGIN MATERIALS Reports Q3 Revenue $8.2M, from 4:02PM ET on Thursday Nov 14, 2024 by MT Newswires

  4:02PM ET on Thursday Nov 14, 2024 by MT Newswires
  Companies Mentioned: ORGN
  04:02 PM EST, 11/14/2024 (MT Newswires) -- ...

• Origin Materials, Inc. Reports Operating and Financial Results for Third Quarter 2024, from 4:01PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:01PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: ORGN
  Accounts payable (124) 2,819 Accrued expenses (3,082) 1,707 Operating lease liability (298) (529) Deferred income -- 1,374 Other liabilities, current (1,507) 2,846 Other liabilities, long-term -- (2,636) ------------- ------------ Net cash used in operating activities (45,123) (46,447) ------------- ------------ Cash flows from investing activities Purchases of property, plant, and equipment (5,117) (90,113) Purchases of marketable securities (1,518,398) (3,092,218) Sales of marketable securities 1,456,532 3,057,700 Maturities of marketable securities 86,441 129,081 ------------- ------------ Net cash provided by investing activities 19,458 4,450 ------------- ------------ Cash flows from financing activities Payment of notes payable (4,793) -- Proceeds from Canadian Government Research and Development Program 8,097 -- Proceeds from exercise of stock options 245 145 ------------- ------------ Net cash provided by financing activities 3,549 145 ------------- ------------ Effects of foreign exchange rate changes on the balance of cash and cash equivalents, and restricted cash held in foreign currencies 3,010 (390) ------------- ------------ Net decrease in cash and cash equivalents, and restricted cash (19,106) (42,242) Cash and cash equivalents, and restricted cash, beginning of the period 75,502 108,348 ------------- ------------ Cash and cash equivalents, and restricted cash, end of the period $ 56,396 $ 66,106 ============= ============ Origin Materials, Inc. Reconciliation of GAAP and Non-GAAP Results Three Months Ended Nine Months Ended September 30, September 30, -------------------- ---------------------- (in thousands) 2024 2023 2024 2023 ------- ------- ------- ------- Net (loss) income $(36,763) $ 30,931 $(70,175) $ 34,236 Stock-based compensation 2,459 2,380 7,776 7,031 Depreciation and amortization 2,822 386 7,946 1,021 Impairment of assets 15,170 -- 15,170 -- Investment (income) expenses, net (1,745) 1,130 (5,447) (4,308) Interest expenses 86 -- 313 -- Loss (gain) in fair value of derivatives 43 (126) (237) (620) Loss (gain) in fair value of common stock warrants liability 2,285 (22,815) 2,913 (27,438) Loss (gain) in fair value of earnout liability 2,941 (18,757) 2,401 (39,137) Other expenses (income), net 517 (2,603) 1,170 (1,655) Income tax expenses 231 -- 403 -- ------- ------- ------- ------- Adjusted EBITDA $(11,954) $ (9,474) $(37,767) $(30,870) ======= ======= ======= =======
  

• Press Release: Origin Materials, Inc. Reports Operating and Financial Results for Third Quarter 2024, from 4:01PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:01PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: ORGN
  Accounts payable (124) 2,819 Accrued expenses (3,082) 1,707 Operating lease liability (298) (529) Deferred income -- 1,374 Other liabilities, current (1,507) 2,846 Other liabilities, long-term -- (2,636) ------------- ------------ Net cash used in operating activities (45,123) (46,447) ------------- ------------ Cash flows from investing activities Purchases of property, plant, and equipment (5,117) (90,113) Purchases of marketable securities (1,518,398) (3,092,218) Sales of marketable securities 1,456,532 3,057,700 Maturities of marketable securities 86,441 129,081 ------------- ------------ Net cash provided by investing activities 19,458 4,450 ------------- ------------ Cash flows from financing activities Payment of notes payable (4,793) -- Proceeds from Canadian Government Research and Development Program 8,097 -- Proceeds from exercise of stock options 245 145 ------------- ------------ Net cash provided by financing activities 3,549 145 ------------- ------------ Effects of foreign exchange rate changes on the balance of cash and cash equivalents, and restricted cash held in foreign currencies 3,010 (390) ------------- ------------ Net decrease in cash and cash equivalents, and restricted cash (19,106) (42,242) Cash and cash equivalents, and restricted cash, beginning of the period 75,502 108,348 ------------- ------------ Cash and cash equivalents, and restricted cash, end of the period $ 56,396 $ 66,106 ============= ============ Origin Materials, Inc. Reconciliation of GAAP and Non-GAAP Results Three Months Ended Nine Months Ended September 30, September 30, -------------------- ---------------------- (in thousands) 2024 2023 2024 2023 ------- ------- ------- ------- Net (loss) income $(36,763) $ 30,931 $(70,175) $ 34,236 Stock-based compensation 2,459 2,380 7,776 7,031 Depreciation and amortization 2,822 386 7,946 1,021 Impairment of assets 15,170 -- 15,170 -- Investment (income) expenses, net (1,745) 1,130 (5,447) (4,308) Interest expenses 86 -- 313 -- Loss (gain) in fair value of derivatives 43 (126) (237) (620) Loss (gain) in fair value of common stock warrants liability 2,285 (22,815) 2,913 (27,438) Loss (gain) in fair value of earnout liability 2,941 (18,757) 2,401 (39,137) Other expenses (income), net 517 (2,603) 1,170 (1,655) Income tax expenses 231 -- 403 -- ------- ------- ------- ------- Adjusted EBITDA $(11,954) $ (9,474) $(37,767) $(30,870) ======= ======= ======= =======