Danimer Scientific(US:DNMR)2023-08-09 04:18Financial Performance - Second Quarter 2023 sales increased to $12865 thousand, compared to $12703 thousand in the same period last year[17] - Adjusted gross profit was a loss of $1632 thousand, compared to a loss of $452 thousand in the second quarter of 2022[17] - Adjusted EBITDA was a loss of $10217 thousand, compared to a loss of $12868 thousand in the second quarter of 2022[17] Business Development & Strategic Initiatives - The company received acceptance of Part 2 application to Department of Energy Loan Guarantee Program for the Bainbridge, GA greenfield facility[10] - Customer launch of Nodax®-based protective films, shrink wrap and produce bags, representing new end-use categories[10] - The company is awaiting imminent selection for a new customer requiring significant annual volumes of biodegradable straw resin[10] - The company expects FY23 capital expenditures of $31 million - $26 million[18] Production & Capacity - The Kentucky plant has a nameplate capacity of approximately 325 M LBS of neat PHA and approximately 65 M LBS of finished resin[15, 16] - At full capacity utilization and current market pricing and mix, the company expects approximately $190 million in revenue from the Kentucky plant[15] - The Bainbridge greenfield plant is expected to drive scale benefits with approximately $400 million of new annual capacity[15] Forward-Looking Statements & Risk Factors - The presentation contains forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially from those projected[8, 13] - The company cautions that forward-looking statements are not guarantees[13]