Amyris (AMRS) Tops Q4 EPS by 6c, Revenues Beat
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Amyris (: AMRS) reported Q4 EPS of ($0.03), $0.06 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $80 million versus the consensus estimate of $69.44 million.
"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."
For earnings history and earnings-related data on Amyris (AMRS) click here.
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