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Amyris, Inc. (AMRS) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Amyris, Inc.

CIK: 1365916 Ticker: AMRS

Exhibit 99.1

Amyris Provides Highlights of First Half 2019 Financial Results

 

Delivers 134% Revenue Growth Over First Half 2018; Files 2018 Form 10-K

 

Posts First-Half 2019 GAAP Revenue of $77.1 million; Cannabinoid Development Program Exceeds Expectations

 

EMERYVILLE, Calif., October 1, 2019 -- Amyris, Inc. (Nasdaq:AMRS) today provided highlights of its business and financial results for the first half of 2019 ended June 30, 2019, which it will review during a conference call after market close on Wednesday, October 2, 2019. The company also noted that it is has filed its 2018 Form 10-K and expects to file its Form 10-Qs for the first and second quarters of 2019 before the conference call on Wednesday. As a result of completing these filings, the company believes that it will have filed all of its delinquent SEC filings and be back in compliance with Nasdaq listing rules.

 

First-Half 2019 Financial Results and Recent Business Highlights

 

·First-half 2019 GAAP revenue of $77.1 million with very strong gross margin compared to total first-half 2018 GAAP revenue of $32.9 million

 

·Successful launch of Pipette baby care brand raising the bar for clean and safe baby care products

 

·International expansion of Biossance, one of the fastest growing clean beauty skincare brands in the US, gets a strong start upon entry into Australian and New Zealand markets

 

·Expansion of ADL Bionatur Solutions (ADL) manufacturing agreement and execution of strategic supply agreement with Raízen, the largest sugar producer in the world, to provide additional, cost-effective manufacturing capacity to meet growth demand

 

·Appointment of two new board members with significant experience in building high growth product and consumer companies ‒ Jim McCann, founder and chairman of 1-800-Flowers, and Lisa Qi, founder and CEO of Daling Family e-commerce platform in China

 

·Receipt of first milestone payment of $10 million in March 2019 for successful cannabinoid (CBD) development; good progress being made toward second major milestone.

 

“We are pleased with our financial results for the first-half of 2019,” said John Melo, Amyris President and CEO. “Our teams have delivered higher volumes to support stronger demand this year and in the second half they are continuing at record levels. We remain confident that we will exceed our revenue goal for 2019. Our $300 million cannabinoid development collaboration is also exceeding our expectations. We are now on track to be the first company to produce multiple cannabinoids at commercial scale that are fermentation derived in 2020.”

 

The company will hold its conference call to discuss financial results and business highlights for the first half of 2019, as well as provide an update on the company's business and outlook, at 4:30 p.m. ET (1:30 p.m. PT) on Wednesday, October 2, 2019. The company will not be issuing a customary earnings release on its financial results prior to the call, as the company expects that the financial results for the first and second quarters of 2019 will have been fully disclosed via the filing of required Form 10-Qs.

 

Conference Call:
Wednesday, October 2, 2019, 4:30 p.m. ET/1:30 p.m. PT

Dial-in Number:
(877) 870-4263 (U.S. & International)

Participants should ask to be joined to the Amyris, Inc. call.


Audio Webcast:
A live webcast of the call will be available online on the Amyris website. To listen via live webcast, please visit: http://investors.amyris.com. A replay of the webcast will be available on the Investor Relations section of the company's website approximately two hours after the conclusion of the call.

 

About Amyris

 

Amyris is the integrated renewable products company that is enabling the world’s leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules and produce specialty ingredients and consumer products. The company is delivering its No Compromise® products and services across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. More information about the company is available at www.amyris.com.

 

Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding the expected filing of Amyris’s Form 10-Qs for the first and second quarters of 2019, including the timing thereof and the related disclosure of Amyris’s financial results for the first and second quarters of 2019, Amyris’s anticipated regaining compliance with Nasdaq listing rules, including the timing thereof, expected 2019 revenue and business growth, including growth in demand for, and production of, Amyris products, and anticipated growth of Biossance and Pipette brands and development and commercial production of cannabinoid products. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to Amyris's liquidity and ability to fund operating and capital expenses, risks related to potential delays or failures in development, production and commercialization of products, risks related to Amyris's reliance on third parties, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.

 

Amyris, the Amyris logo, Biossance, and No Compromise are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.

 

Contact:

Peter DeNardo

Director, Investor Relations and Corporate Communications

Amyris, Inc.

+1 (510) 740-7481

investor@amyris.com

 

 

 


The following information was filed by Amyris, Inc. (AMRS) on Tuesday, October 1, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Amyris, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Current Period Unaudited)
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Loss (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited) (Parentheticals)
Condensed Consolidated Statements Of Stockholders' Deficit And Mezzanine Equity (Unaudited)
Note 1 - Basis Of Presentation And Summary Of Significant Accounting Policies
Note 1 - Basis Of Presentation And Summary Of Significant Accounting Policies (Details Textual)
Note 10 - Related Party Transactions
Note 10 - Related Party Transactions (Tables)
Note 10 - Related Party Transactions - Related Party Accounts Receivable (Details)
Note 11 - Stock-Based Compensation
Note 11 - Stock-Based Compensation (Details Textual)
Note 11 - Stock-Based Compensation (Tables)
Note 11 - Stock-Based Compensation - Employee Service Share-Based Compensation, Allocation Of Recognized Period Costs (Details)
Note 11 - Stock-Based Compensation - Share-Based Compensation, Stock Options And Stock Appreciation Rights Award Activity (Details)
Note 11 - Stock-Based Compensation - Temporal Display Of Share-Based Compensation, Restricted Stock And Restricted Stock Units Activity (Details)
Note 12 - Subsequent Events
Note 12 - Subsequent Events (Details Textual)
Note 2 - Balance Sheet Details
Note 2 - Balance Sheet Details (Details Textual)
Note 2 - Balance Sheet Details (Tables)
Note 2 - Balance Sheet Details - Accrued And Other Current Liabilities (Details)
Note 2 - Balance Sheet Details - Capitalized Software (Details)
Note 2 - Balance Sheet Details - Deferred Cost Of Products Sold - Related Party (Details)
Note 2 - Balance Sheet Details - Depreciation And Amortization (Details)
Note 2 - Balance Sheet Details - Inventory, Current (Details)
Note 2 - Balance Sheet Details - Maturities Of Financing And Operating Leases (Details)
Note 2 - Balance Sheet Details - Other Assets (Details)
Note 2 - Balance Sheet Details - Other Noncurrent Liabilities (Details)
Note 2 - Balance Sheet Details - Prepaid Expenses And Other Current Assets (Details)
Note 2 - Balance Sheet Details - Property, Plant And Equipment (Details)
Note 2 - Balance Sheet Details - Right-Of-Use Assets And Related Lease Liabilities (Details)
Note 3 - Fair Value Measurement
Note 3 - Fair Value Measurement (Details Textual)
Note 3 - Fair Value Measurement (Tables)
Note 3 - Fair Value Measurement - Convertible Debt (Details)
Note 3 - Fair Value Measurement - Fair Value, Assets, And Liabilities Measured On Recurring Basis (Details)
Note 3 - Fair Value Measurement - Reconciliation For Compound Embedded Derivative Liability (Details)
Note 4 - Debt
Note 4 - Debt (Details Textual)
Note 4 - Debt (Tables)
Note 4 - Debt - Debt Components (Details)
Note 4 - Debt - Long-Term Debt Instruments (Details)
Note 5 - Mezzanine Equity
Note 5 - Mezzanine Equity (Details Textual)
Note 6 - Stockholders' Deficit
Note 6 - Stockholders' Deficit (Details Textual)
Note 6 - Stockholders' Deficit (Tables)
Note 6 - Stockholders' Deficit - Warrant Activity (Details)
Note 7 - Loss Per Share
Note 7 - Loss Per Share (Tables)
Note 7 - Loss Per Share - Antidilutive Securities Excluded From Computation Of Earnings Per Share (Details)
Note 7 - Loss Per Share - Calculation Of Basic And Diluted Net Loss Per Share Of Common Stock (Details)
Note 8 - Commitments And Contingencies
Note 9 - Revenue Recognition And Contract Assets And Liabilities
Note 9 - Revenue Recognition And Contract Assets And Liabilities (Details Textual)
Note 9 - Revenue Recognition And Contract Assets And Liabilities (Tables)
Note 9 - Revenue Recognition And Contract Assets And Liabilities - Contract Balances (Details)
Note 9 - Revenue Recognition And Contract Assets And Liabilities - Disaggregation Of Revenue (Details)
Note 9 - Revenue Recognition And Contract Assets And Liabilities - Remaining Performance Obligations (Details)
Note 9 - Revenue Recognition And Contract Assets And Liabilities - Remaining Performance Obligations 2 (Details)
Note 9 - Revenue Recognition And Contract Assets And Liabilities - Revenue In Connection With Significant Revenue Agreement (Details)
Significant Accounting Policies (Policies)

Material Contracts, Statements, Certifications & more

Amyris, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 2: Plan Of Acquisition, Reorganization, Arrangement, Liquidation Or Succession
Exhibit 4.01: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.02: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.03: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.04: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.07: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.08: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.09: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.12: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.13: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 4.14: Instruments Defining The Rights Of Security Holders, Including Indentures
Exhibit 10.01: Material Contract
Exhibit 10.02: Material Contract
Exhibit 10.03: Material Contract
Exhibit 10.04: Material Contract
Exhibit 10.05: Material Contract
Exhibit 10.06: Material Contract
Exhibit 10.07: Material Contract
Exhibit 10.08: Material Contract
Exhibit 10.09: Material Contract
Exhibit 10.10: Material Contract
Exhibit 10.11: Material Contract
Exhibit 10.13: Material Contract
Exhibit 10.15: Material Contract
Exhibit 31.01: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.02: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.01: Section 1350 Certification
Exhibit 32.02: Section 1350 Certification
Ticker: AMRS
CIK: 1365916
Form Type: 10-Q Quarterly Report
Accession Number: 0001171843-19-006389
Submitted to the SEC: Mon Oct 07 2019 9:02:51 AM EST
Accepted by the SEC: Mon Oct 07 2019
Period: Sunday, June 30, 2019
Industry: Industrial Organic Chemicals

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