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Amyris, Inc. (AMRS) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Amyris, Inc.

CIK: 1365916 Ticker: AMRS
Page | 1 FOR IMMEDIATE RELEASE AMYRIS, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2020 FINANCIAL RESULTS Record Q4 and Full Year Product Revenue Expanded Product Gross Margins and Positive Q4 Adjusted EBITDA Emeryville, CA – March 2, 2021 – Amyris, Inc. (Nasdaq: AMRS), a leading synthetic biotechnology company active in the Clean Health and Beauty markets through its consumer brands, today announced financial results for its fourth quarter and full year ended December 31, 2020. "2020 was a year of transformative execution for Amyris," said John Melo, President and Chief Executive Officer of Amyris. "We delivered the third consecutive quarter of record Product sales revenue in Q4 while also expanding Product gross margins. We continued to see strong growth with our Consumer brands and delivered Q4 Consumer revenue equivalent to the entire year 2019. This revenue and margin growth combined with the completion of the strategic transaction resulted in positive adjusted EBITDA in the quarter.” Mr. Melo added, “The Amyris team made significant progress in 2020 on our strategic initiatives. We delivered six new ingredients at scale, completed a successful $200 million equity financing and significantly reduced our total debt. With the momentum in our product revenue we believe that we are well positioned to continue to drive sector leading growth into the future. We expect 2021 to be another record year with underlying total revenue in the $240 million range and reported total revenue of around $400 million, when including the potential impact of the strategic transactions. With our business momentum and these transactions, we expect to deliver full year 2021 positive adjusted EBITDA.” Q4 2020 Financial Highlights  Record sales revenue of $80 million nearly doubled versus the prior year quarter. Record Product revenue of $35 million increased 71% compared to the prior year quarter driven by a record quarter for Consumer which, with $17 million in revenue and 161% growth, delivered as much revenue in Q4 as the entire year 2019. Ingredients revenue of $18 million grew 29%. Q4 revenue included $40 million for the Farnesene strategic transaction.  Gross margin of 66% improved from 56% in the prior year quarter and increased $30 million year- over-year. Product-related gross margin grew $6 million versus the prior year quarter with the remaining $24 million primarily attributable to the year-over-year impact from strategic transactions.  Cash operating expense of $50 million increased by $5 million or 10% versus the prior year quarter, primarily due to marketing investments in our consumer brands and new R&D programs.  Adjusted EBITDA was positive $1 million and improved $26 million year-over-year due to higher revenue, improved Product gross margins, and income from the Q4 strategic transaction.


The following information was filed by Amyris, Inc. (AMRS) on Tuesday, March 2, 2021 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-K Annual 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-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parentheticals)
Consolidated Statements Of Stockholders' Deficit And Mezzanine Equity
Balance Sheet Details
Balance Sheet Details (Tables)
Balance Sheet Details - Accrued And Other Current Liabilities (Details)
Balance Sheet Details - Additional Information (Details)
Balance Sheet Details - Allowance For Doubtful Accounts (Details)
Balance Sheet Details - Deferred Cost Of Product Sold (Details)
Balance Sheet Details - Depreciation And Amortization (Details)
Balance Sheet Details - Inventories (Details)
Balance Sheet Details - Maturities Of Financing And Operating Leases (Details)
Balance Sheet Details - Other Assets (Details)
Balance Sheet Details - Other Noncurrent Liabilities (Details)
Balance Sheet Details - Prepaid Expenses And Other Current Assets (Details)
Balance Sheet Details - Property, Plant And Equipment (Details)
Balance Sheet Details - Right-Of-Use Assets And Related Lease Liabilities (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Additional Information (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Concentration Of Credit Risk (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Consolidated Variable-Interest Entities And Unconsolidated Investments
Consolidated Variable-Interest Entities And Unconsolidated Investments (Details)
Consolidated Variable-Interest Entities And Unconsolidated Investments (Tables)
Consolidated Variable-Interest Entities And Unconsolidated Investments - Aprinnova Jv's Assets And Liabilities (Details)
Consolidated Variable-Interest Entities And Unconsolidated Investments - Equity Method Investment (Details)
Consolidated Variable-Interest Entities And Unconsolidated Investments - Noncontrolling Interest (Details)
Debt
Debt (Tables)
Debt - 2014 Rule 144A Note Exchange And Extension - Total, Related Party (Details)
Debt - Amendment No. 1 To Foris Lsa ??? Foris, Related Party (Details)
Debt - Amendment To Senior Convertible Notes (Details)
Debt - Debt Components (Details)
Debt - Debt Equitization - Foris Related Party (Details)
Debt - Dsm $25 Million Note (Details)
Debt - Dsm $8 Million Note (Details)
Debt - Exchange Of Senior Convertible Notes Due 2022 (Details)
Debt - Foris $5 Million Note ??? Foris, Related Party (Details)
Debt - Foris Related Party Debt (Details)
Debt - Ginkgo Note, Partnership Agreement And Note Amendment (Details)
Debt - Ginkgo Waiver Agreement (Details)
Debt - Letters Of Credit (Details)
Debt - Long-Term Debt Instruments (Details)
Debt - Naxyris Lsa (Details)
Debt - Naxyris Lsa Amendment (Details)
Debt - Nikko Loan Agreements And Notes (Details)
Debt - Nikko Notes (Details)
Debt - Nikko Secured Loan Agreement Amendment (Details)
Debt - Schottenfeld Forbearance Agreement (Details)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - 6% Convertible Notes Due 2021 (Details)
Fair Value Measurement - Bifurcated Embedded Features In Debt Instruments (Details)
Fair Value Measurement - Fair Value Measurement Inputs And Valuation Techniques (Details)
Fair Value Measurement - Fair Value Of Debt ??? Foris Convertible Note (Lsa Amendment) (Details)
Fair Value Measurement - Fair Value Of Debt ??? Senior Convertible Notes (Details)
Fair Value Measurement - Fair Value, Assets, And Liabilities Measured On Recurring Basis (Details)
Fair Value Measurement - Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation (Details)
Fair Value Measurement - Financial Assets And Liabilities (Details)
Fair Value Measurement - Freestanding Derivative Instruments (Details)
Fair Value Measurement - Market-Based Assumption And Estimates For Compound Embedded Derivative Liabilities Valuation (Details)
Fair Value Measurement - Reconciliation For Compound Embedded Derivative Liability (Details)
Geographical Information
Geographical Information (Tables)
Geographical Information - Long-Lived Assets By Geography (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Activity In The Deferred Tax Assets Valuation Allowance (Details)
Income Taxes - Additional Information (Details)
Income Taxes - Components Of Benefit (Provision) (Details)
Income Taxes - Components Of Income Loss (Details)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Effective Tax Rate Reconciliation (Details)
Income Taxes - Uncertain Tax Benefits (Details)
Mezzanine Equity
Mezzanine Equity (Details)
Net Loss Per Share Attributable To Common Stockholders
Net Loss Per Share Attributable To Common Stockholders (Tables)
Net Loss Per Share Attributable To Common Stockholders - Antidilutive Securities Excluded From Computation Of Earnings Per Share (Details)
Net Loss Per Share Attributable To Common Stockholders - Calculation Of Basic And Diluted Net Loss Per Share Of Common Stock (Details)
Related Party Transactions
Related Party Transactions (Tables)
Related Party Transactions - Office Sublease (Details)
Related Party Transactions - Reconciliation Of Derivative Liabilities (Details)
Related Party Transactions - Related Party Accounts Payable (Details)
Related Party Transactions - Related Party Accounts Receivable (Details)
Related Party Transactions - Related Party Accounts Receivable Narrative (Details)
Related Party Transactions - Related Party Debt (Details)
Related Party Transactions - Related Party Equity (Details)
Related Party Transactions - Related Party Revenues (Details)
Related Party Transactions - Schedule Of Related Party Debt (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Contract Balances (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Revenue Recognition - Remaining Performance Obligations (Details)
Revenue Recognition - Revenue In Connection With Significant Revenue Agreement (Details)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)
Stock-Based Compensation - Employee Service Share-Based Compensation, Allocation Of Recognized Period Costs (Details)
Stock-Based Compensation - Options Activity (Details)
Stock-Based Compensation - Share-Based Compensation, Stock Options And Stock Appreciation Rights Award Activity (Details)
Stock-Based Compensation - Share-Based Payment Award, Stock Options With Performance, Valuation Assumptions (Details)
Stock-Based Compensation - Share-Based Payment Award, Stock Options, Valuation Assumptions (Details)
Stock-Based Compensation - Temporal Display Of Share-Based Compensation, Restricted Stock And Restricted Stock Units Activity (Details)
Stockholders' Deficit
Stockholders' Deficit (Tables)
Stockholders' Deficit - Foris Warrant Exercises For Cash (Details)
Stockholders' Deficit - Increase In Authorized Common Stock (Details)
Stockholders' Deficit - January 2020 Private Placement (Details)
Stockholders' Deficit - January 2020 Warrant Amendments And Exercises, Foris Debt Equitization And Private Placement (Details)
Stockholders' Deficit - June 2020 Pipe (Details)
Stockholders' Deficit - Number Of Callable Shares (Details)
Stockholders' Deficit - Release Of Pre-Delivery Shares And Amendment To Warrants Issued To Holders Of Senior Convertible Notes Due 2022 (Details)
Stockholders' Deficit - Series E Convertible Preferred Stock And Amendment To Articles Of Incorporation Or Bylaws (Details)
Stockholders' Deficit - Total Conversion Price Reduction And Subsequent Conversion Into Common Stock (Details)
Stockholders' Deficit - Warrant Activity (Details)
Stockholders' Deficit - Warrant Amendments And Exercise By Certain Holders (Details)
Stockholders' Deficit - Warrant Amendments And Exercises, Common Stock Purchase And Debt Equitization By Foris- Related Party (Details)
Subsequent Events
Subsequent Events (Details)
Ticker: AMRS
CIK: 1365916
Form Type: 10-K Annual Report
Accession Number: 0001365916-21-000007
Submitted to the SEC: Fri Mar 05 2021 5:11:43 PM EST
Accepted by the SEC: Fri Mar 05 2021
Period: Thursday, December 31, 2020
Industry: Industrial Organic Chemicals

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