Financial Data and Key Metrics Changes - The company announced a reduction in manufacturing output estimates by approximately 50-15% for 2026 and 2027 compared to prior estimates due to delays in cap former factory acceptance testing [19] - Updated revenue guidance for 2026 is now $20 million to $30 million, and for 2027, it is $100 million to $200 million, down from previous estimates of $50 million to $70 million and $150 million to $210 million respectively [20] - The company ended the quarter with $69 million in cash, cash equivalents, and marketable securities, alongside a net accounts receivable balance of $17.9 million [20][21] Business Line Data and Key Metrics Changes - The first Origin PET bottle caps are now on store shelves, marking a significant milestone for the company and the packaging industry [6] - The company is focusing on five large functional segments within the $65 billion caps and closures market, including water, carbonated soft drinks, other beverage applications, food and pharmaceutical, and other non-beverage segments [10] Market Data and Key Metrics Changes - The company is targeting a $7 billion segment for non-carbonated water caps and a $6 billion segment for carbonated soft drinks [10] - The packaging industry is described as highly commoditized and competitive, with a noted lack of innovation [9] Company Strategy and Development Direction - The company is conducting a strategic review with RBC Capital Markets to identify strategies that can enhance access to manufacturing capacity and strategic capital [10] - A refinement of the go-to-market strategy has been initiated to prioritize high-value opportunities within the caps and closures market [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of tariffs on production costs and the need for strategic partnerships to mitigate these challenges [18] - The company remains optimistic about its growth potential, citing strong interest in its products and ongoing customer relationships [42] Other Important Information - The company has established a partnership with Berlin Packaging, which will help extend market reach for its PET caps [12] - The company is expanding its manufacturing capacity in Europe to respond to tariff pressures and enhance production capabilities [15] Q&A Session All Questions and Answers Question: Where can investors buy the product to support it? - The product is available on shelves with a small brand, Power Hydration, located in California [27] Question: Who are the closest competitors and how does Origin compare? - The company's technology is differentiated from existing PET cap production methods, allowing for better unit economics and material properties [29][30] Question: What is the status of the NASDAQ listing? - The company is currently in a grace period to meet the minimum stock price requirement and is optimistic about regaining compliance [36][39] Question: What should investors be excited about for the future? - The company is excited about the market introduction of its PET bottle caps and ongoing customer announcements, alongside strategic growth opportunities [41][43]

Financial Highlights - Origin Materials projects revenue of $20 million to $30 million in 2026[8] and $100 million to $200 million in 2027[8, 15] - The company anticipates achieving Adjusted EBITDA positive run rate in 2027[8, 15] - Manufacturing lines are expected to have a payback period of less than 18 months[12, 13] Market and Demand - The total addressable market for Origin closures is greater than $65 billion[8, 32, 57] - The company is currently in the $7 billion water market segment[56, 57] and is qualifying for the $6 billion carbonated soft drink (CSD) market[57, 60] - Demand currently exceeds projected manufacturing capacity for the foreseeable future[6, 72] Manufacturing and Technology - Origin Materials commenced production on its first CapFormer line in February 2025[17, 60] - The company is on track to have 8 to 10 CapFormer lines in operation in 2026[15, 17] - Origin Materials has secured over 70 patents protecting its technology and products[9, 75]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39378 __________________________ ORIGIN MATERIALS, INC. (Exact name of registrant as specified in its charter) __________________ ...

Origin Materials, Inc. Reports Operating and Financial Results for Second Quarter 2025 – First Origin PET Bottlecaps on Store Shelves – – Announced Customer Berlin Packaging – – Announces Review of Strategic Opportunities and New Market Segmentation to Accelerate Value Capture – "In a separate press release issued today, we announced the first Origin PET bottlecaps are now on store shelves, a world's first and a significant inflection point for the company and the packaging industry. We are officially in ma ...

Group 1 - FDCA is a high-value bio-based compound with a wide range of applications, serving as a substitute for terephthalic acid and enabling the production of high-performance bio-based polymers [2][8] - The synthesis routes for FDCA are diverse, with the HMF route being the most promising and showing significant progress towards industrial production [17][18] - The global FDCA market is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2028, potentially reaching $873.28 million by 2028 [4][51] Group 2 - Internationally, several companies have achieved FDCA production, with significant investments made since 2004, including major players like Coca-Cola, DuPont, and Avantium [3][35] - Domestic research on FDCA began around 2010 and has rapidly advanced, with notable breakthroughs in synthesis and polymerization processes [3][41] - The domestic industry is still in its early stages of commercialization, but there is a growing number of patents and publications, indicating a strong research foundation [3][41] Group 3 - PEF, derived from FDCA and ethylene glycol, exhibits superior properties compared to PET, including higher mechanical strength and better gas barrier performance, making it a promising alternative [5][10] - The application areas for PEF include food packaging, films, and fibers, with significant potential for replacing PET in various markets [5][10] - The production of PEF is expected to expand, driven by the increasing demand for sustainable materials and the growth of the bio-based product market [5][51] Group 4 - Companies like Avantium and Eastman are leading the way in FDCA production technology, with Avantium's YXY technology being a notable example [36][39] - Domestic companies such as Hefei Lif Biological and Zhongke Guosheng are making strides in FDCA production, with innovative processes and significant production capacity planned for the near future [44][45] - The collaboration between research institutions and companies is fostering innovation and accelerating the commercialization of FDCA and its derivatives in China [41][44]

Investment Rating - The report maintains a rating of "Overweight" for the FDCA industry [7] Core Insights - FDCA is a high-value bio-based compound with a wide range of applications, particularly in the production of PEF, which has significant market potential [1][3][5] - The global FDCA market is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2028, potentially reaching USD 873.28 million by 2028 [3] - PEF, derived from FDCA, exhibits superior properties compared to PET, making it a promising alternative in various applications [4][5] Summary by Sections FDCA Overview - FDCA is a bio-based aromatic monomer derived from biomass such as starch and cellulose, recognized as a suitable substitute for terephthalic acid [1][14] - The synthesis routes for FDCA include chemical and biological methods, with the HMF route being the most promising for industrialization [1][26][27] Domestic and International Development - Internationally, several companies have achieved FDCA production since 2004, while domestic efforts began around 2010 and are rapidly advancing [2][45][56] - Notable international players include Avantium, Corbion Purac, and DuPont, which have made significant strides in FDCA and PEF research and production [45][46][48] Market Potential and Applications - The FDCA market is projected to exceed USD 1.13 billion by 2031, driven by increasing demand for bio-based products [3] - PEF's applications span food packaging, films, and fibers, with its oxygen and carbon dioxide barrier properties significantly outperforming PET [4][18][19] Investment Recommendations - The report suggests focusing on companies involved in FDCA production, such as Tongkun Co., New Fengming, and Zhenhai Refining & Chemical [5][58][60]

Origin Materials (ORGN) Q1 2025 Earnings Call May 15, 2025 05:00 PM ET Company Participants Ryan Smith - Co-Founder & Chief Product OfficerJohn Bissell - Co-Founder & CEOMatt Plavan - CFO & COOAziza Gazieva - Vice President Conference Call Participants None - Analyst Operator Good day, and welcome to the Origin Materials First Quarter twenty twenty five Earnings Conference Call. All participants will be in a listen only mode. After today's presentation, there will be an opportunity to ask questions. Please ...

Origin Materials (ORGN) Q1 2025 Earnings Call May 15, 2025 05:00 PM ET Speaker0 Good day, and welcome to the Origin Materials First Quarter twenty twenty five Earnings Conference Call. All participants will be in a listen only mode. After today's presentation, there will be an opportunity to ask questions. Please note that this event is being recorded. I would now like to turn the conference over to Ryan Smith, Co Founder and Chief Product Officer. Please go ahead. Speaker1 Thank you. Good afternoon and tha ...

Financial Projections - Origin Materials projects revenue of $50 million to $70 million in 2026[8, 15] - The company anticipates revenue of $150 million to $210 million in 2027[8, 15] - Adjusted EBITDA is projected to be positive on a run-rate basis by the end of 2026[8, 15] Market and Technology - The total addressable market for Origin closures is greater than $65 billion[8, 31] - Origin Materials has developed proprietary technology for 100% PET caps and closures[6, 58] - The company has secured over 70 patents protecting its technology and products[9, 61] Manufacturing and Operations - Origin commenced production of its first CapFormer line in February 2025[17, 50] - The company is aiming to have 8 to 10 CapFormer lines operating in 2026[15, 17] - The payback period for the manufacturing lines is expected to be less than 18 months[8, 12]

Financial Performance - Total revenues for Q1 2025 were $5,430,000, a decrease of 20.5% compared to $6,825,000 in Q1 2024[16]. - Net loss for Q1 2025 was $26,441,000, compared to a net loss of $13,913,000 in Q1 2024, representing an increase in loss of 90.5%[16]. - Operating expenses in Q1 2025 totaled $32,736,000, up 80.6% from $18,135,000 in Q1 2024, primarily due to increased research and development costs[16]. - Loss from operations for the three months ended March 31, 2025, was $32.62 million, compared to a loss of $17.99 million in the prior year[94]. - The company reported a net loss of $26.4 million for the three months ended March 31, 2025, compared to a net loss of $13.9 million for the same period in 2024, resulting in a basic and diluted net loss per share of $0.18[108]. Cash and Assets - Cash and cash equivalents decreased to $43,835,000 as of March 31, 2025, down from $56,307,000 at the end of 2024, a decline of 22.2%[13]. - Total assets decreased to $348,977,000 as of March 31, 2025, down from $378,027,000 at the end of 2024, a reduction of 7.7%[13]. - Total current assets decreased to $119,509,000 as of March 31, 2025, down from $139,174,000 as of December 31, 2024, a decline of 14.1%[14]. - The company’s total liabilities decreased to $34,369,000 as of March 31, 2025, down from $39,662,000 at the end of 2024, a decline of 13.0%[13]. - The total stockholders' equity as of March 31, 2025, was $314,608,000, down from $338,365,000 at the end of 2024, a decrease of 7.0%[14]. Research and Development - Research and development expenses for Q1 2025 were $3,301,000, a decrease of 43.3% from $5,819,000 in Q1 2024[16]. - The company recorded an impairment charge of $16,610 thousand during the three months ended March 31, 2025, related to long-lived assets[41]. - The company received zero funding under the Canadian government R&D program for the three months ended March 31, 2025, compared to $8.1 million received in the same period in 2024, marking a decrease of 100%[77]. Revenue Recognition - Revenue is recognized upon shipment for product sales, while service agreements generate revenue over the period services are performed[58]. - The Company’s revenue recognition follows ASC 606, ensuring that revenue reflects the consideration expected in exchange for goods or services[45]. - The Company has zero deferred revenue for the three months ended March 31, 2025, as it did not receive payment before the provision of services[59]. Marketable Securities - The Company recorded a total fair value of $69,564,000 for its financial assets as of March 31, 2025, which includes $30,351,000 in cash equivalents and $39,213,000 in marketable securities[60]. - The company sold marketable securities for proceeds of $282.4 million during the three months ended March 31, 2025, realizing a loss of $0.1 million, consistent with the loss reported for the same period in 2024[66]. - The aggregate fair value of marketable securities in an unrealized loss position was $23.0 million as of March 31, 2025, down from $26.6 million as of December 31, 2024, indicating a reduction of approximately 13.5%[66]. Stock and Equity - The weighted-average common shares outstanding for Q1 2025 were 146,852,340, an increase from 141,828,895 in Q1 2024[16]. - The total remaining compensation expense for RSU awards to be recognized under the 2021 Equity Incentive Plan is $12.6 million, expected to be recognized over an estimated weighted average period of 1.4 years[90]. - The company has 1,058,231 options to purchase common stock and 2,124,255 performance-based stock awards outstanding as of March 31, 2025, which are excluded from diluted net loss per share calculations[109]. Legal and Compliance - The company is currently facing litigation related to a securities class action and derivative complaints, which may have uncertain financial impacts[106][107]. - The Company is involved in derivative complaints filed by shareholders against current and former directors, which may lead to unspecified damages and governance changes[107]. Business Developments - The company completed the mechanical construction of its first furanics manufacturing plant in Ontario, Canada, which is currently operating on demand[25]. - Origin announced its PET closures business in August 2023, with mass production partnerships established in Europe and North America[24]. - The first PET closure manufacturing system, "CapFormer," successfully completed its Factory Acceptance Test in September 2024[24].