Saturday, October 16, 2021

Danimer Scientific, Inc. (DNMR) Stock Prices Surge Despite Pending Class Action Lawsuits

Danimer Scientific, Inc. (DNMR) stock prices were up 13.06% shortly after the trading day commenced on April 26th, 2021, bringing the price per share up to USD$26.96.


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Year-Over-Year Gains in Revenue

Because of higher demand and the increased PHA production capacity at DNMR’s Winchester facility, which was brought online in 2020, revenues increased year-over-year by a massive 46%. In their most recent financial reports, the company disclosed USD$47.3 million in revenue for the year ended December 31st, 2021.

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Having netted USD$11.1 million in 2019, the company reported gross profits of USD$11.5 million in 2020; while adjusted gross profits increased year-over-year by 19% to USD$16.6 million. Of the USD$12.6 million reported as net loss, USD$4.3 million were costs associated with the transition to being a public company, such as transaction expenses and professional fee costs.

Scope of Existing Capital

The company reported USD$56.6 million in total debt outstanding as of December 31st 2020, with cash reserves of USD$377.6 million as of the same day. A significant portion of the cash reserves consisted of transaction net proceeds generated from the successful Danimer and Live Oak merger in December 2020.

Demand for Nodax PHA

Nodax PHA, the company’s flagship product, is a 100% biodegradable, renewable, and sustainable plant-based plastic, which uses canola oil as its primary feedstock. Demand for the company’s signature polymer remains consistent as blue chip multinational consumer packaging customers broaden their commitments. The rising demand justifies the company’s recent addition of their Winchester facility in order for them to collectively produce and deliver almost 315 million pounds of finished PHA product per annum.

Bainbridge Facility Upgraded

DNMR recently announced its plans to consolidate the anticipated capacity of its Bainbridge facility from 125 million finished pounds of PHA products per year to 250 million pounds. The facility is currently in the pre-construction engineering stage, with Q1 2022 being an estimated date for its construction to commence. It will begin production in two phases, with the first set of three fermenters anticipating operation by Q3 2023. The second set of three fermenters is planned to become operational by Q3 2024.

Future Outlook for DNMR

Given the development of facilities and massive increases in production capacities, investors are confident and hopeful that the increasing demands will meet the supply and be sold out. This means accelerated further growth for the company, as well as its shareholder value.

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