SAN FRANCISCO, April 9, 2025 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP advises Origin Materials, Inc. investors that the firm is investigating potential legal claims relating to alleged false statements regarding an Origin manufacturing plant under development, originally scheduled for completion by mid-2025. Current shareholders are encouraged to contact the firm.On February 12, 2025, Judge William B. Shubb of the U.S. District Court for the Eastern District of California issued an order denying in pa ...

Origin Materials, Inc. (NASDAQ:ORGN) Q4 2024 Earnings Conference Call March 13, 2025 5:00 PM ET Company Participants Ryan Smith - Co-Founder & Chief Product Officer Rich Riley - Co-Chief Executive Officer John Bissell - Co-Founder & Co- Chief Executive Officer Matt Plavan - CFO & COO Conference Call Participants Frank Mitsch - Fermium Research Salvator Tiano - Bank of America Operator Thank you for standing by. This is the conference operator. Welcome to the Origin Materials Fourth Quarter and Full Year 202 ...

March 13, 2025 Forward looking statements and disclaimers FORWARD-LOOKING STATEMENTS. This presentation and the accompanying oral presentation have been prepared by Origin Materials, Inc. ("Origin") for informational purposes only and not for any other purpose. Certain statements included in this presentation that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking stateme ...

Financial Performance and Risks - The company has a history of net losses primarily due to research and development, plant construction, and early-stage commercial activities, with expectations of continued losses for the foreseeable future [63]. - The company anticipates significant future losses as it develops its PET closure business, increases spending on strategic partnerships, and expands production capabilities [65]. - The company is exposed to credit risk due to potential nonperformance by customers, which could adversely affect its financial condition [71]. - The company faces significant costs in developing products that may not achieve market success, which could adversely affect its financial condition and operational results [82]. - The anticipated costs of constructing new manufacturing facilities have exceeded initial estimates, leading to potential delays and increased financial strain [99]. - Unfavorable global economic conditions, including inflation and supply disruptions, could adversely affect business operations and financial performance [112]. - The company’s operating results may fluctuate significantly due to various external factors, making revenue forecasting challenging [113]. - Changes in tax laws and regulations could materially affect the company's financial position and results of operations [115]. - The company’s ability to utilize net operating loss carryforwards may be limited due to ownership changes, impacting future tax liabilities [122]. Customer Dependency and Market Risks - The top two customers accounted for approximately 96% and 77% of total revenues for the years ended December 31, 2024 and 2023, respectively, indicating a high dependency on a few customers [81]. - The market for the company's PET closures and decarbonized materials is still nascent, with significant risks and uncertainties regarding market acceptance [82]. - The commercial success of the company's products is influenced by the relative pricing of HDPE, polypropylene, and PET, which can affect customer purchasing decisions [86]. - Fluctuations in raw material costs, influenced by external factors such as geopolitical events and natural disasters, may adversely impact the company's cost structure and profitability [87]. - The company competes with established producers of fossil-based materials and must ensure its products offer comparable or superior functionality to maintain market share [83]. Operational and Production Challenges - The company relies on a limited number of manufacturing facilities to meet near-term customer demand, which poses risks if any facility experiences shutdowns or reduced production [78]. - The company has not yet produced its products in large commercial quantities, facing technological and logistical challenges in scaling production [75]. - The construction of manufacturing lines for PET closures may not be completed in a timely or cost-effective manner, impacting commercialization efforts [76]. - The company may face significant delays in procuring necessary capital equipment, which could adversely affect its ability to produce products [79]. - The company may face production delays and increased costs if it cannot secure sufficient raw materials or if suppliers do not accurately forecast demand [93]. Strategic Partnerships and Collaborations - The company seeks to establish strategic partnerships for the development of manufacturing facilities and feedstock supply, but may face challenges in securing these partnerships [101]. - The company may face challenges in establishing timely and satisfactory collaborations, which could adversely affect product development and commercialization efforts [102]. - Future collaborations may be terminated by strategic partners, potentially delaying product development and adversely affecting financial results [109]. - The company has entered into collaborations and licensing arrangements, which expose it to competitive risks and may not yield anticipated benefits [105]. Regulatory and Compliance Risks - The company is subject to extensive environmental, health, and safety laws, which may increase compliance costs and operational changes [124]. - Compliance with environmental regulations could lead to substantial costs, including fines and remediation expenses, impacting overall financial performance [125]. - The market for bioplastics is heavily influenced by government regulations, such as the EU's Single-Use Plastic Directive, which could affect product demand and investment in R&D [125]. - Climate change may disrupt operations and increase costs due to regulatory compliance, impacting financial results [111]. - The company faces risks from international trade disputes and potential tariffs, which could increase product costs and adversely impact gross margins [129]. - Proposed tariffs of 25% on imports from Canada and Mexico, and 60% on goods from China, could materially affect operating results if implemented [130]. Intellectual Property and Legal Risks - The company relies on proprietary information and intellectual property, and failure to protect these rights could harm competitive advantages and financial condition [136]. - The company may face costly patent infringement claims that could limit its ability to use key technologies and incur significant unexpected costs [143]. - Legal proceedings related to intellectual property rights could divert management's attention and lead to expensive litigation [145]. - The company relies on trade secrets for technology protection, and any compromise could reduce competitive advantages [147]. - Compliance with Canadian federal regulations on intellectual property could limit the company's ability to commercialize products outside Canada [142]. Management and Operational Structure - The management team has limited experience in operating a public company, which may increase operational costs [149]. - Retaining key personnel is crucial for success, as the loss of management could adversely affect business operations [150]. - A material weakness in internal control over financial reporting was identified and remediated, but future weaknesses may arise [154]. - The company implemented a workforce reduction in September 2024, which may not yield expected benefits and could disrupt operations [153]. Stock and Market Risks - The company has never declared or paid any cash dividends and does not intend to do so in the foreseeable future [181]. - The market price of the company's Common Stock has experienced significant volatility, including a decline in August 2023 [183]. - The company may face substantial costs and management distractions from potential securities class-action litigation following periods of market volatility [184]. - Future issuances of debt or equity securities may adversely affect the market price of the common stock and could be dilutive to existing stockholders [190]. - The company’s charter documents could prevent favorable takeovers and reduce the market price of its stock [178]. - A failure to meet Nasdaq's listing standards could result in decreased liquidity and increased volatility for the common stock, adversely impacting capital raising efforts [192]. - The company's common stock is currently listed on Nasdaq, but it faced a deficiency letter in January 2024 due to the closing bid price falling below the minimum $1.00 requirement for continued listing [191]. - In June 2024, the stock price resumed trading above $1.00 for at least ten days, regaining compliance with Nasdaq's minimum bid price requirement [191].

Financial Performance - Origin Materials reported Q4 2024 revenue of $9.2 million, down from $13.1 million in the prior-year period, with full-year revenue of $31.3 million compared to $28.8 million in 2023[7]. - Total revenues for the year ended December 31, 2024, increased to $31,282,000, up 8.6% from $28,805,000 in 2023[27]. - The net loss for Q4 2024 was $13.5 million, compared to a net loss of $10.4 million in the prior-year period, with a full-year net loss of $83.7 million[10]. - Net loss for the year ended December 31, 2024, was $83,697,000, compared to a net income of $23,798,000 in 2023[27]. - The company reported a total comprehensive loss of $94,474,000 for the year ended December 31, 2024, compared to a comprehensive income of $33,819,000 in 2023[27]. Operating Expenses - Operating expenses for Q4 2024 were $16.2 million, a decrease of $3.6 million from $19.8 million in the prior-year period[8]. - Operating expenses for the year ended December 31, 2024, totaled $85,281,000, an increase of 41.8% from $60,096,000 in 2023[27]. - Adjusted EBITDA loss for Q4 2024 was $11.1 million, compared to a loss of $11.0 million in the prior-year period[11]. - Research and development expenses for the year ended December 31, 2024, were $18,554,000, a decrease of 13.1% from $21,351,000 in 2023[27]. Cash and Assets - The company has over $102.9 million in cash, cash equivalents, and marketable securities as of December 31, 2024[7]. - Cash and cash equivalents decreased to $56,307,000 as of December 31, 2024, down 25.4% from $75,502,000 in 2023[29]. - Total assets decreased to $378,027,000 as of December 31, 2024, down 18.1% from $461,834,000 in 2023[26]. - Cash flows used in operating activities for the year ended December 31, 2024, were $50,830,000, an improvement from $60,355,000 in 2023[29]. Future Projections - The company expects to achieve full-year 2026 revenue of $110 million to $140 million, separate from potential licensing revenue[3]. - Origin anticipates becoming EBITDA positive on a run-rate basis by the end of 2026, updated from the first half of 2026[3]. - The company is on track to have eight CapFormer lines operational by the end of 2025, with three new lines nearing completion[2]. Production and Technology - Origin has commenced commercial production of its first PET cap manufacturing line, expected to produce hundreds of millions of caps annually[5]. - Origin's patent portfolio now includes over 70 issued patents, enhancing its technology advantage in the market[9]. - The company recognized an impairment of assets totaling $15,246,000 for the year ended December 31, 2024[27]. Shareholder Information - The weighted-average common shares outstanding for the year ended December 31, 2024, were 143,192,630, compared to 139,718,385 in 2023[27].

Origen Resources Samples 165 g/t Gold at New Showing on WishboneNovember 26, 2024 8:45 AM EST | Source: Origen Resources Inc.Vancouver, British Columbia--(Newsfile Corp. - November 26, 2024) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce results from the recent Wishbone Project sampling program completed by Dr. Thomas Hawkins and the Origen field team. Result Highlights165 g/t gold sampled along the eastern edge of the Central Glacier.Soil s ...

Origin Materials, Inc. (NASDAQ:ORGN) Q3 2024 Earnings Conference Call November 14, 2024 5:00 PM ET Company Participants Ryan Smith - Co-Founder & Chief Product Officer Rich Riley - Co-Chief Executive Officer John Bissell - Co-Founder & Co- Chief Executive Officer Matt Plavan - Chief Financial Officer Conference Call Participants Frank Mitsch - Fermium Research Steve Byrne - Bank of America Operator Good afternoon, everyone. Thank you for standing by. This is the conference operator. Welcome to the Origin Ma ...

Third Quarter 2024 Earnings Call Enabling the world's transition to sustainable materials. November 14, 2024 Forward looking statements and disclaimers 2 FORWARD-LOOKING STATEMENTS. This presentation and the accompanying oral presentation have been prepared by Origin Materials, Inc. ("Origin") for informational purposes only and not for any other purpose. Certain statements included in this presentation that are not historical facts are forward-looking statements for purposes of the safe harbor provisions u ...

Financial Performance - Total revenues for Q3 2024 were $8,202,000, an increase of 15% compared to $7,140,000 in Q3 2023[7] - Product revenues for the nine months ended September 30, 2024, reached $22,057,000, up from $14,229,000 in the same period last year, representing a 55% increase[7] - The company reported a net loss of $36,763,000 for Q3 2024, compared to a net income of $30,931,000 in Q3 2023[7] - Operating expenses for Q3 2024 totaled $32,466,000, significantly higher than $12,946,000 in Q3 2023, reflecting a 150% increase[7] - For the nine months ended September 30, 2024, the net loss was $70,175, a significant decrease from a net income of $34,236 for the same period in 2023[10] - The company reported a net income of $30,931 for the quarter ending June 30, 2023, compared to a net loss of $6,464 for the previous quarter[8] - The net loss for Q3 2024 was $36,763,000, compared to a net income of $30,931,000 in Q3 2023[7] - The net loss for the nine months ended September 30, 2024, was $70.175 million, compared to a net income of $34.236 million for the same period in 2023[10] Cash and Assets - Cash and cash equivalents decreased to $56,396,000 as of September 30, 2024, down from $75,502,000 at the end of 2023[6] - Total assets decreased to $399,555,000 as of September 30, 2024, compared to $461,834,000 at the end of 2023[6] - The company’s accumulated deficit increased to $(24,605,000) as of September 30, 2024, from $45,570,000 at the end of 2023[6] - The total stockholders' equity decreased to $358,856,000 as of September 30, 2024, down from $422,507,000 at the end of 2023[6] - The company reported cash and cash equivalents of $56.4 million as of September 30, 2024, down from $75.5 million as of December 31, 2023[18] - As of September 30, 2024, accounts receivable totaled $18.649 million, with a provision for credit losses of $730,000, resulting in net accounts receivable of $17.919 million[25] - The total fair value of financial assets was $97.09 million, with cash equivalents at $40.08 million and marketable securities at $56.99 million[55] Expenses and Impairments - Research and development expenses for the nine months ended September 30, 2024, were $15,338,000, slightly down from $15,398,000 in the same period last year[7] - The company reported an impairment of assets amounting to $15,170,000 in Q3 2024[7] - The company recorded an impairment loss of $12.3 million related to capitalized costs for the Origin 2 project, which were deemed not recoverable as of September 30, 2024[33] - Depreciation and amortization expense for the nine months ended September 30, 2024, totaled $7.9 million, compared to $1.0 million for the same period in 2023[65] Stock and Equity - The weighted-average common shares outstanding for Q3 2024 were 143,387,618, compared to 139,806,045 in Q3 2023[7] - The Company has a total of 24,149,960 Public Warrants and 11,326,667 Private Placement Warrants outstanding as of September 30, 2024, with an exercise price of $11.50 per share[34] - The Company has not declared common stock dividends and does not anticipate declaring any in the foreseeable future[43] - The Company has potential dilutive securities totaling 25 million earnout shares that were excluded from the diluted net loss per share calculation due to performance conditions not being met[95] - The Company recorded a total workforce reduction charge of $0.6 million in September 2024, which included $0.5 million in cash expenditures for employee separation costs[86] Business Operations and Developments - Origin Materials achieved mechanical completion of its first furanics manufacturing plant in Ontario, Canada, which is currently operating on demand with reduced staffing[11] - The company announced its PET caps and closures business in August 2023, with mass production partnerships established in Europe and North America[11] - The first PET closure manufacturing system successfully completed its Factory Acceptance Test in September 2024[11] - The company is exploring various plant designs and potential sites for scaling up biomass conversion technology, with timelines depending on partner agreements[11] - The company maintains an allowance for credit losses based on historical loss patterns and evaluates potential risks associated with accounts receivable[17] Legal and Regulatory Matters - The Company is facing legal proceedings related to a securities class action complaint filed by shareholders, alleging violations of federal securities laws[92] Tax and Accounting - The Company recorded an income tax provision of $0.2 million and $0.4 million during the three and nine months ended September 30, 2024, respectively[87] - The Company has a full valuation allowance on its net deferred tax assets in the U.S. due to operating losses since inception[87] - The Company does not expect the adoption of new accounting guidance to have a material impact on its consolidated financial statements, aside from additional disclosures[52]

Financial Performance - Origin Materials reported quarterly revenue of $8.2 million for Q3 2024, an increase from $7.1 million in the prior-year period[4]. - The net loss for Q3 2024 was $36.8 million, compared to a net income of $30.9 million in the prior-year period, largely due to non-cash gains in the previous year[9]. - Adjusted EBITDA loss for Q3 2024 was $12.0 million, an increase from $9.5 million in the prior-year period, primarily due to higher general and administrative expenses[11]. - Total revenues for the three months ended September 30, 2024, were $8,202,000, an increase from $7,140,000 in the same period of 2023, representing a growth of approximately 14.9%[27]. - Product revenues increased to $8,202,000 for the three months ended September 30, 2024, compared to $6,358,000 in the prior year, reflecting a growth of about 29%[27]. - The company reported a net loss of $36,763,000 for the three months ended September 30, 2024, compared to a net income of $30,931,000 in the same period of 2023[27]. - Net loss for the nine months ended September 30, 2024, was $70,175 thousand, compared to a net income of $34,236 thousand for the same period in 2023[28]. - Adjusted EBITDA for the nine months ended September 30, 2024, was $(37,767) thousand, compared to $(30,870) thousand for the same period in 2023[29]. Cash and Assets - Cash, cash equivalents, and marketable securities totaled $113.4 million as of September 30, 2024[7]. - Total current assets decreased to $141,393,000 as of September 30, 2024, down from $187,112,000 at the end of 2023, a decline of approximately 24.4%[26]. - The company’s cash and cash equivalents decreased to $56,396,000 as of September 30, 2024, down from $75,502,000 at the end of 2023, a reduction of approximately 25.3%[26]. - Cash and cash equivalents at the end of the period were $56,396 thousand, down from $66,106 thousand at the end of September 30, 2023[28]. Operating Expenses - Operating expenses surged to $32,466,000 for the three months ended September 30, 2024, compared to $12,946,000 in the prior year, marking an increase of approximately 150%[27]. - Research and development expenses were $5,127,000 for the three months ended September 30, 2024, compared to $4,927,000 in the same period of 2023, indicating a rise of about 4%[27]. - The company reported an impairment of assets amounting to $15,170,000 for the three months ended September 30, 2024[27]. - Impairment of assets recorded for the nine months ended September 30, 2024, amounted to $15,170 thousand, with no impairment reported in the prior year[29]. Future Outlook - The company maintains its 2024 revenue guidance of $25 million to $35 million and net cash burn guidance of $55 million to $65 million[13]. - Origin plans to have eight or more CapFormer Systems operational by the end of 2025, which is anticipated to meet the strong market demand for PET caps[3]. - The company is focusing on its caps and closures business to achieve profitability while operating its biomass conversion plant on a reduced scale to manage cash burn[6]. Product Development - The company achieved over 98% manufacturing efficiency during the Factory Acceptance Test of its first CapFormer System, which is expected to enable positive EBITDA by the first half of 2026[2][3]. - Origin's PET caps are currently being tested by multiple prospective customers with a total cap consumption exceeding 100 billion caps per year[2]. - Origin's CapFormer System represents a breakthrough in recycling circularity and packaging performance within a ~$65 billion market[16]. Market Activity - Net cash used in operating activities for the nine months ended September 30, 2024, was $45,123 thousand, slightly improved from $46,447 thousand in the prior year[28]. - Net cash provided by investing activities for the nine months ended September 30, 2024, was $19,458 thousand, compared to $4,450 thousand in the same period of 2023[28]. - The company reported a realized loss on marketable securities of $359 thousand for the nine months ended September 30, 2024, compared to a gain of $(1,706) thousand in the prior year[28]. - The company recorded a change in fair value of common stock warrants liability of $2,913 thousand for the nine months ended September 30, 2024, compared to a loss of $(27,438) thousand in the same period of 2023[28].