Amyris (AMRS) Misses Q4 EPS by 10c

Amyris (NASDAQ: AMRS) reported Q4 EPS of ($0.38), $0.10 worse than the analyst estimate of ($0.28). Revenue for the quarter came in at $40.5 million versus the consensus estimate of $46.99 million.

"We delivered very strong top line revenue following our transition to higher margin, recurring product revenue," said John Melo, President and CEO of Amyris. \"Today, we have a business model that combines a rapidly growing ingredients business with three, fast-growing Amyris consumer brands: Biossance skin care, Pipette baby care and our Purecane sweetener. This business model is underpinned by the leading Synthetic Biology platform and a portfolio of molecules that are delivering industry-leading growth in Clean Beauty and Health and Wellness markets. We have developed and commercially scaled more molecules from clean fermentation than any other company."

Continued Melo, "At a time when the world needs it most, Amyris provides a secure supply of sustainably-sourced products. We are making significant progress in reducing our production and operating costs and expect the combination of cost reduction actions that are well under way along with our continued strong growth to improve our adjusted EBITDA by about $100 million over 2019. Our consumer business is experiencing the fastest growth in our history during the first quarter and is expected to represent over $90 million in gross sales for 2020. Biossance.com is on track for over 300% growth in the first quarter after a record 2019. We are focused on keeping our people, customers and partners healthy during this unpredictable period facing the world."

For earnings history and earnings-related data on Amyris (AMRS) click here.

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