Amyris reports Q4 2019 total revenue of $40.5M, 148% increase over Q4 2018

In New York, Amyris reports a strong quarter of recurring revenue growth at $40.5 million which is a 148% increase over Q42018, and a Fiscal 2019 total revenue of $152.6 million, an increase of 140% over Fiscal 2018, with a more than doubled recurring revenue year over year with gross margin of 56%.

“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.”

Fiscal Year 2020 Goals for Amyris includes:

• Manage business toward reduced cash burn and further address capital structure and debt simplification while ensuring adequate cash available to invest in growth
• Focus on recurring revenue growth of 100% year over year while improving operating cash flow by over $100 million through the following actions:
• Increased product revenue coupled with lower manufacturing costs by moving more production to Brotas with lower cost manufacturing agreement
• Anticipated higher collaborations, licenses and royalties revenue
• Lower operating expenses due to non-recurring expense associated with accounting issues and compliance in 2019, operating expense management and positive change in our equipment leases.