Amyris posts 168% increase in revenue for 2017 Q2 over 2016 Q2

In California, Amyris announced its net income of $620,000 and total revenue of $25.7 million for the second quarter, which was good news for investors who saw a 168% increase over the same period last year. Product sales were up over 159% from last year’s Q2 as well, with Biossance sales delivering outstanding results and plans to expand to SEPHORA in over 60 locations across Canada next year. With equity financing completed, investments, and an agreement from Royal DSM for a food and nutrition molecule, they were able to significantly reduce their total debt.

John Melo, Amyris President & CEO said in the press release, “We are continuing to experience very strong product sales growth in our personal care and health and nutrition segments and expect most of our products to generate improved gross margins with the value share component of our business.”

As reported in the Digest last week, Amyris announced the closing of the second and final tranche of its previously announced financing. The second tranche of $50 million in a private placement was led by a $25-million investment from Koninklijke DSM N.V. with the remaining $25 million contributed by Vivo Capital.