MBII - MBII STOCK NEWS

Marrone Bio Innovations (NASDAQ: MBII) reported preliminary financial results for Q4 and FY 2021, highlighting a mid-30% revenue growth in Q4 compared to the prior year. Overall, 2021 revenue growth is estimated in the low double-digit range.

Gross margins are on track in the upper 50% range, with flat operating expenses year-over-year. The company also announced the acquisition of exclusive rights to high-performing microorganism strains to enhance their bioherbicide. Orders indicate strong demand for their products, particularly in the U.S. and Europe.

Marrone Bio Innovations (NASDAQ: MBII) has expanded its inventory line of credit from $3 million to $4.5 million through an agreement with LSQ Funding Group. This increase aims to support expected growth in sales and manufacturing capacity, particularly as the company approaches the peak selling season in North America. CEO Kevin Helash expressed that the additional liquidity will enhance commercial expansion efforts, ensuring product availability for customers during critical periods.

Marrone Bio Innovations (NASDAQ: MBII) has moved its corporate headquarters from Davis, California, to Raleigh, North Carolina, to strengthen its international presence, particularly in European and Latin American markets. The relocation aims to enhance proximity to global markets and benefit from the region's agricultural technology expertise. While the move affects corporate executive positions, Davis remains the hub for research and development. Marrone Bio focuses on sustainable agricultural solutions, offering 18 products supported by over 500 patents.

During November and December 2021, Marrone Bio Innovations (NASDAQ: MBII) completed the exercise of the final tranche of warrants, generating $3.5 million in cash and increasing its outstanding shares by 4.7 million. The elimination of the majority of unexercised warrants provides the company with enhanced financial flexibility, according to CEO Kevin Helash. This development supports ongoing product advancement and strengthens the company’s capital structure as it approaches the 2022 fiscal year and agricultural season.

Marrone Bio Innovations (NASDAQ: MBII) has acquired exclusive rights to high-performing strains of Streptomyces acidiscabies, accelerating the commercialization of its second-generation bioherbicide, MBI-006. This strategic move aims to optimize MBI-006's production costs and enhance performance in the $27 billion herbicide market. With over 250 herbicide-resistant weeds causing significant financial losses for U.S. and Canadian farmers, MBI-006 offers a promising solution. The product is expected to launch in 2024/2025 for organic crops, with broader applications anticipated by 2027/2028.

Marrone Bio Innovations (NASDAQ: MBII) announces promising field trial results for its environmentally sustainable product MBI-306, targeting yield-robbing pests in corn and soybeans. The trials showed up to a 23 bushel per acre yield increase in corn and 11 bushels per acre in soybeans compared to untreated seeds. Anticipated peak revenues for MBI-306 are projected at $100 million. The product, submitted for EPA approval, is designed to be safer for humans and wildlife and is expected to launch in the 2023/2024 growing season.

Marrone Bio Innovations (NASDAQ: MBII) has released a climate impact assessment of its Venerate® XC Bioinsecticide, achieving a score of 8.6 out of 10. The assessment reviewed its effects on soil health, aquatic life, and human safety, emphasizing its low toxicity and biodegradability. Notably, the company will switch its production to renewable energy, reducing greenhouse gas emissions by 32%. This product is crucial for Marrone Bio, as it anticipates increased market share and revenue growth with pending regulatory approvals, particularly in Brazil.

Marrone Bio Innovations (NASDAQ: MBII) reported a 12% revenue growth in Q3 2021, reaching $9.9 million, driven by global expansion in major row crops and increased biological fungicide sales. Gross profit rose 21% to $6.0 million, resulting in a gross margin of 61.4%, marking the 12th consecutive quarter above 50%. The net loss improved to $4.9 million from $6.1 million in Q3 2020, aided by cost containment efforts. YTD revenue increased 9% to $33.5 million. Management projects low double-digit to mid-teens revenue growth for 2021, focusing on strategic seed treatments for future profitability.

Marrone Bio Innovations (Nasdaq: MBII) received a notification from Nasdaq regarding noncompliance with Listing Rule 5550(a)(2) due to its closing bid price being below $1.00 for 30 consecutive days. The company has until May 4, 2022 to regain compliance by maintaining a closing bid of at least $1.00 for 10 consecutive business days. While this notification does not immediately affect trading, failure to comply may lead to potential delisting. Marrone Bio plans to monitor its stock price and take necessary measures to address this issue.