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Amyris, Inc. (Nasdaq: AMRS) is a pioneering synthetic biotechnology company that leverages its Lab-to-Market™ technology platform to facilitate the world's shift towards sustainable consumption. Founded with the vision of transforming the Clean Health & Beauty and Flavors & Fragrances markets, Amyris specializes in converting plant sugars into essential hydrocarbon molecules, specialty ingredients, and consumer products using innovative bioscience solutions. The company's proprietary technology platform utilizes advanced machine learning, robotics, and artificial intelligence to bring new innovations to market at commercial scale, resulting in products incorporated into over 20,000 items from leading global brands, impacting more than 300 million consumers.
Recently, Amyris has undergone significant changes to optimize its operations and financial health. In June 2023, the company announced the resignation of its President & CEO, John Melo, with Han Kieftenbeld stepping in as Interim CEO while continuing his role as CFO. This leadership change aligns with Amyris' broader strategy to streamline its business and achieve cost reduction targets, including a global reduction in force and collaboration with PricewaterhouseCoopers (PwC) to implement 'Fit-to-Win' cost actions estimated at $250 million.
Further advancing its strategic transformation, Amyris commenced voluntary Chapter 11 proceedings in August 2023 to restructure its operations and financial framework. This restructuring aims to enhance the company's cost structure, capital position, and liquidity, allowing it to refocus on its core competencies in research and development, commercialization, and the application of sustainable ingredients through biofermentation. As part of this effort, Amyris plans to exit from its consumer brands, marketing them for sale while continuing to operate them through retail and e-commerce platforms during the transition.
Amyris has secured $190 million in debtor-in-possession financing from Foris Ventures to support its daily operations and meet its commitments to employees, customers, and partners throughout the restructuring process. The company is committed to maintaining its innovative edge and remains dedicated to introducing sustainable, effective, and accessible products to market, ensuring a path toward profitable growth and sustained cash generation.
More information about Amyris and its ongoing projects and initiatives can be found on their official website, www.amyris.com.
Amyris, Inc. (Nasdaq: AMRS) announced an estimated $56 million in total revenue for Q1 2023, surpassing prior guidance of $50 million. The company is focusing on cost efficiency and liquidity to self-fund its initiatives, with a strategic review underway as part of its 'Fit-to-Win' program. The insourcing production at the technologically advanced Barra Bonita facility has progressed, with the plant now meeting product delivery targets. CEO John Melo expressed confidence in the company's operational efficiency and revenue growth strategy. Amyris expects to secure $335 million in earnouts and milestone payments and aims for an additional $200 million from transactions this year. A detailed update will be provided during the Q1 earnings call on May 9, 2023.
Amyris, Inc. (Nasdaq: AMRS) has completed a strategic transaction with Givaudan SA, securing exclusive worldwide licensing for key cosmetic ingredients including Neossance® Squalane and CleanScreen™. The deal is valued at approximately $500 million, comprising $200 million in upfront cash and up to $150 million in performance-based earnouts. This partnership enhances both companies' positions in sustainable beauty, leveraging Amyris' Lab-to-Market™ technology to produce high-performing bio-fermented ingredients. The collaboration follows a successful history in the commercialization of Bisabolol, further solidifying Amyris' market role in clean, sustainable consumer products.
Amyris, a synthetic biotechnology company, reported Q4 2022 Consumer revenue of $52.8 million, marking a 64% increase year-over-year, contributing to full-year Consumer revenue of $176.9 million, up 92%. Core revenue reached $75.8 million in Q4, a 17% increase, with full-year Core revenue at $269.8 million, growing 44%. The company improved cash usage for operating and investing activities sequentially each quarter, reducing cash use from $200 million in Q1 to $97 million in Q4. Significant capital financing of $200 million was secured, and strategic partnerships were expanded. Despite challenges in Technology Access revenue and increased cash operating expenses, Amyris aims for profitability and self-sufficiency by end of 2023.
Amyris, Inc. (Nasdaq: AMRS) announced it will release its financial results for the fourth quarter and full year ended December 31, 2022, on March 15, 2023, post-market close. CEO John Melo and CFO Han Kieftenbeld will lead a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results and provide a business update. Participants can access the call via the company's Investor Relations website or by phone at (844) 850-0551.
Amyris focuses on sustainable health and beauty products and holds a proprietary Lab-to-Market™ technology, serving over 300 million consumers through more than 20,000 products.
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