Amyris reports record product revenue, on track for 4 new molecules at scale

In California, Amyris reports another strong quarter in 2020 with Product Revenue (Consumer & Ingredients) of $31 million was up 58% compared with the prior year quarter, with year-over-year revenue growth in Consumer (+203%) and Ingredients (+21%). Amyris is also on track to deliver four molecules at scale.

Cash operating expense of $43 million improved $5 million or 10% versus the prior year quarter, mostly due to lower G&A expense.

Their wholly owned consumer brands delivered 220% growth on a year-to-date basis. Product Revenue demonstrated three consecutive quarters of >55% YoY growth and they had continued international growth of Biossance.

An upcoming milestone is their Pipette brand which is fast-tracked to launch in China in November and Biossance is entering China by year end.

Other recent progress is an executed agreement with the Infectious Disease Research Institute (IDRI) to accelerate development of a mRNA vaccine platform, starting with COVID-19 as first application, and scaled commercial production of Cannabigerol (CBG), leveraging our fermentation process capability.

Amyris is also on track to deliver four molecules at scale, surpassing 2020 target of two to three. Q4 Ingredients revenue to benefit from new products to market.