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Marrone Bio Innovations (NASDAQ: MBII) reported a 14% increase in first-quarter revenues, totaling $11.04 million, marking the 11th consecutive quarter of growth. Gross profit rose 25% to $6.97 million, leading to a gross margin improvement of 63.1%. The net loss decreased significantly by 53% to $3.26 million, while Adjusted EBITDA losses improved by 68% to $1.17 million. Operating expenses fell 11% to $10.00 million. Management expressed confidence in achieving full-year revenue growth in the upper 20% range and targeting gross margins above 50%.
Marrone Bio Innovations (NASDAQ: MBII) announced that its BIOSt Nematicide seed treatment received an exceptional climate impact score of 9.8 out of 10, according to a recent study by Boundless Impact Research & Analytics. The product significantly reduces greenhouse gas emissions, achieving an 85% reduction in soybeans and 87% in corn compared to conventional pesticides. With widespread adoption among 17,000 growers on over 11 million acres, the use of BIOSt could equate to reducing CO2 emissions comparable to removing nearly 10,000 cars from the road.
DAVIS, Calif., April 29, 2021 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (NASDAQ: MBII) will release its financial results for Q1 ended March 31, 2021, after market close on May 13, 2021, at 4:30 p.m. ET. Management will host a conference call at the same time to discuss the results and provide a corporate update. Participants can dial in at 1-866-248-8441 and the call will be accessible via webcast. A playback will be available until June 13, 2021. Marrone Bio Innovations focuses on sustainable agricultural solutions and holds over 400 patents across its product portfolio.
Marrone Bio Innovations (NASDAQ: MBII) has announced an optimistic outlook for 2021, highlighting the launch of four new products and a robust distribution network. CEO Kevin Helash's update indicates early seasonal indicators point to strong growth, with an expected revenue increase in the upper 20% range and gross margin targets raised to the upper 50% range. The company aims to drive operational efficiency, achieving positive Adjusted EBITDA. Additionally, the demand for seed treatments is projected to rise due to favorable market conditions in the U.S. and Europe.
Marrone Bio Innovations (NASDAQ: MBII) is leading the sustainable agriculture movement by joining the United Nations Global Compact, a corporate sustainability initiative. The company has prioritized sustainability since its establishment in 2006 and is committed to aligning its environmental, social, and governance (ESG) strategies with the UN's sustainable development goals. Recent studies indicate that MBI's biopesticides can reduce greenhouse gas emissions by 69% to 91%. MBI anticipates releasing additional findings on the climate impact of its core products shortly.
Marrone Bio Innovations (NASDAQ: MBII) reported strong financial results for Q4 and FY2020, achieving a 31% year-over-year revenue growth and maintaining gross margins above 50% for nine consecutive quarters. The company reduced its net loss by 46% and operating expenses significantly improved from 150% to 104%. With new product launches and a strengthened presence in major row crops, MBII aims for mid-20% revenue growth in 2021. The firm is focused on sustainable agricultural practices and plans to enhance its Environmental, Social and Governance (ESG) capabilities. Overall, the future outlook remains promising.
Marrone Bio Innovations (NASDAQ: MBII) reported a 31% revenue increase for fiscal year 2020, totaling $38.4 million, boosted by expanded seed-and soil-treatments and global diversification. Gross margins improved to 59.6% due to a better product mix, leading to a 46% reduction in net loss, down to $20.2 million. Operating expenses fell 9% year-over-year, supporting a decline in the operating expense ratio to 104%. The company anticipates continued momentum in 2021, targeting mid-20% revenue growth and maintaining operating expenses.
Marrone Bio Innovations, Inc. (NASDAQ: MBII) will release its financial results for the fourth quarter and full year ended December 31, 2020, on March 23, 2021, at 4:30 p.m. ET. An investor conference call will follow at 4:30 p.m. ET, where the management will discuss the results and provide corporate updates. The call can be accessed by dialing 1-866-248-8441 (U.S.) or 1-323-289-6581 (internationally). A playback of the call will be available until April 23, 2021. Marrone Bio focuses on sustainable bioprotection and plant health solutions and has over 400 patents supporting its products.
Marrone Bio Innovations (MBII) announced the successful performance of its foliar plant health product, Pacesetter, in 2020 U.S. Midwest field trials, achieving an impressive average return on investment of six-to-one. The trials indicated a yield increase of 6.4 bushels per acre in corn and 3.3 bushels per acre in soybeans when Pacesetter was used alongside conventional fungicides. With access to the vast corn and soybean market, expected to surpass 179 million acres in 2021, Marrone aims to enhance crop health and profitability for growers.
Marrone Bio Innovations (NASDAQ: MBII) has filed a universal shelf registration statement on Form S-3 with the SEC, allowing it to offer up to $90 million in securities over the next three years.
This move aims to provide the company with the flexibility to finance future opportunities as needed. Currently, there are no specific plans to issue securities. CEO Kevin Helash emphasized that this is a standard governance practice to streamline future capital acquisition. Investors should note that the registration has not yet become effective, and no securities can be sold until it does.
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